PacBio Lays Off 80 People

PacBio has laid off 80 people in an effort to reduce burn. This sucks, and some great people appear to have been let go.

The financials presented were not super-positive either, indicating that they’ve burnt $218.8M in last year and now have $343.1M remaining. They said they will lower the “annualized non-GAAP operating expense run-rate by $45 million to $50 million by year end”…