Blank Bio Closes $7.2M Seed Financing
Written by Emily J. Thompson, Senior Investment Analyst
Updated: May 19 2026
0mins
Blank Bio announced the closing of a $7.2M seed financing and a strategic collaboration with Pacific Biosciences. Blank Bio is building RNA foundation models that learn directly from the molecular complexity of tumor transcriptomes to improve patient-level prediction across oncology. Proceeds from the financing will support continued model development, expanded collaborations with pharmaceutical and diagnostic companies, and new long-read RNA-seq datasets to support applications in biomarkers, clinical trial design, and diagnostics.
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Analyst Views on PACB
Wall Street analysts forecast PACB stock price to rise
5 Analyst Rating
3 Buy
2 Hold
0 Sell
Moderate Buy
Current: 1.470
Low
2.00
Averages
2.40
High
3.00
Current: 1.470
Low
2.00
Averages
2.40
High
3.00
About PACB
Pacific Biosciences of California, Inc. is a life science technology company. The Company designs, develops, and manufactures sequencing solutions. Its products and technology include HiFi long-read sequencing technology, which addresses a set of applications including human germline sequencing, plant and animal sciences, infectious disease, microbiology, oncology, and other applications. Its sequencing technology supports oncology research by enabling analysis of both deoxyribonucleic acid (DNA) and ribonucleic acid (RNA), providing researchers with insight into cancer biology. It focuses on creating sequencing systems to provide customers with a view of genomes, transcriptomes, and epigenomes. Its customers include academic and governmental research institutions, commercial testing and service laboratories, genome centers, public health labs, hospitals and clinical research institutes, contract research organizations (CROs), pharmaceutical companies, and agricultural companies.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
PacBio Launches Next-Gen Sequencing Technology with SPRQ-Nx
- New Sequencing Chemistry: PacBio's launch of SPRQ-Nx sequencing chemistry reduces the per genome price to $345, with expectations of sub-$300 costs at scale, significantly lowering genomic sequencing expenses and driving broader market adoption.
- AI Technology Integration: The introduction of the DeepConsensus algorithm, developed in collaboration with Google, enhances data quality and processing speed within the HiFi sequencing workflow, thereby enriching the biological insights generated and expanding the scope of genomic research.
- Multi-Use SMRT Cells: The newly introduced multi-use SMRT Cells can be reused, and beta testing across 20 sites with over 1,400 runs demonstrated increased yield and lower failure rates, ensuring data consistency and usability in high-throughput workflows, thus enhancing the feasibility of large-scale sequencing projects.
- Future Development Plans: PacBio plans to introduce SPRQ-Nx chemistry and other platform improvements to its Vega benchtop system later in 2026, further expanding its applications in population-scale genomics and clinical research to meet the growing market demand.
See More
Blank Bio Collaborates with PacBio to Advance Tumor Transcriptome Research
- Financing and Collaboration: Blank Bio has closed a $7.2 million seed financing round and formed a strategic collaboration with Pacific Biosciences (PacBio) to generate high-resolution long-read RNA data, enhancing patient-level predictions from tumor transcriptomes and advancing precision oncology.
- Data Generation Plan: The collaboration will produce PacBio HiFi long-read RNA sequencing data from up to 100 fresh frozen patient tumor samples, capturing the molecular state of tumors to improve biomarker discovery and clinical trial design.
- Model Development and Applications: Proceeds from the financing will support ongoing model development and partnerships with pharmaceutical and diagnostic companies, as Blank Bio's foundation models leverage RNA-level signals to enhance patient stratification and clinical interpretation, driving precision medicine applications.
- Team and Technical Advantage: The Blank Bio team consists of AI scientists and engineers from companies like Recursion and DeepMind, possessing deep expertise in RNA biology and machine learning, aiming to transform transcriptomic data into powerful patient-level insights that enhance drug development and diagnostics success rates.
See More
PacBio Publishes Major Reproductive Genomics Study in Asia Pacific
- Significant Findings: PacBio's HiFi whole genome sequencing has successfully recruited 96 participants in a multicenter study across Asia Pacific, revealing the complexities of reproductive genetics and is expected to advance genomic research in the fertility field.
- Clear Technical Advantages: In this study, 84 participants underwent HiFi sequencing, enabling the analysis of multiple genomic variations in a single test, significantly enhancing the resolution of complex genomic regions and thereby reducing the need for repeat testing and shortening the time to insights.
- Effective Collaborative Framework: Utilizing DNAstack's federated analysis framework, the research team facilitated cross-national and cross-institutional collaboration while ensuring data security, generating robust comparable datasets that provide critical support for understanding the genetic architecture of fertility issues.
- Future Development Plans: The consortium plans to expand recruitment, evaluate broader multi-omic approaches, and explore scalable sequencing workflows to improve accessibility and cost-efficiency for future reproductive genomics studies, further driving innovation in the field.
See More
Pacific Biosciences Reports Q1 Earnings Miss, Shares Drop 16%
- Earnings Decline: Pacific Biosciences reported a Q1 non-GAAP EPS of -$0.12, beating estimates by $0.01, but revenue only rose 0.1% year-over-year to $37.2M, missing consensus expectations, which led to a 16% drop in shares.
- Margin Pressure: The company's non-GAAP gross margin fell to 37% from 40% a year earlier, primarily due to rising computing component costs, temporary promotional activities related to Vega products, and inventory and warranty-related charges, indicating significant profitability challenges.
- Revised Revenue Outlook: PacBio narrowed its full-year 2026 revenue outlook to $165M-$175M from a previous range of $165M-$180M, with the updated midpoint of $170M falling below the analyst consensus estimate of approximately $174.4M, reflecting concerns about future growth.
- Market Reaction: The disappointing earnings report raised investor concerns about the company's future performance, resulting in a significant stock price decline, highlighting worries about Pacific Biosciences' profitability and growth potential in a competitive biotech landscape.
See More
Pacific Biosciences Q1 2026 Earnings Highlights
- Revenue Growth and Challenges: In Q1 2026, total revenue reached $37.2 million, falling short of analysts' expectations of $39.98 million; however, consumable revenue hit $21.8 million, reflecting over 100% year-over-year growth, indicating strong demand in the clinical market.
- Strategic Adjustments and Asset Sale: The company generated approximately $48.1 million in cash from the sale of high-throughput short-read sequencing assets to Illumina, aiming to sharpen its focus on long-read sequencing technology while resolving litigation with personal genomics in Taiwan, thereby clarifying its strategic direction.
- Outlook Downgrade: Management lowered the high end of its 2026 revenue outlook by $5 million, now expecting revenue in the range of $165 million to $175 million, reflecting a cautious stance due to ongoing pressure on academic and government funding.
- Margin Pressure: Although the non-GAAP gross margin was reported at 37%, management indicated that rising compute component costs and a one-time promotional event impacted margins, with expectations for improvement in the second quarter.
See More
Pacific Biosciences Q1 Earnings Report Highlights
- Earnings Beat: Pacific Biosciences reported a Q1 non-GAAP EPS of -$0.12, beating expectations by $0.01, indicating some improvement in cost management despite ongoing losses.
- Revenue Miss: The company generated $37.2 million in revenue for Q1, a slight increase of 0.1% year-over-year, but fell short of market expectations by $2.78 million, reflecting weak market demand and intensified competition.
- 2026 Financial Outlook: PacBio anticipates full-year revenue for 2026 to range between $165 million and $175 million, suggesting a cautiously optimistic outlook from management despite industry challenges.
- Historical Performance Review: Historical earnings data for Pacific Biosciences indicates that while facing short-term pressures, the company retains long-term growth potential, necessitating investor attention on future strategic adjustments and market responses.
See More
PacBio Launches Next-Gen Sequencing Technology with SPRQ-Nx
- New Sequencing Chemistry: PacBio's launch of SPRQ-Nx sequencing chemistry reduces the per genome price to $345, with expectations of sub-$300 costs at scale, significantly lowering genomic sequencing expenses and driving broader market adoption.
- AI Technology Integration: The introduction of the DeepConsensus algorithm, developed in collaboration with Google, enhances data quality and processing speed within the HiFi sequencing workflow, thereby enriching the biological insights generated and expanding the scope of genomic research.
- Multi-Use SMRT Cells: The newly introduced multi-use SMRT Cells can be reused, and beta testing across 20 sites with over 1,400 runs demonstrated increased yield and lower failure rates, ensuring data consistency and usability in high-throughput workflows, thus enhancing the feasibility of large-scale sequencing projects.
- Future Development Plans: PacBio plans to introduce SPRQ-Nx chemistry and other platform improvements to its Vega benchtop system later in 2026, further expanding its applications in population-scale genomics and clinical research to meet the growing market demand.
See More
Blank Bio Collaborates with PacBio to Advance Tumor Transcriptome Research
- Financing and Collaboration: Blank Bio has closed a $7.2 million seed financing round and formed a strategic collaboration with Pacific Biosciences (PacBio) to generate high-resolution long-read RNA data, enhancing patient-level predictions from tumor transcriptomes and advancing precision oncology.
- Data Generation Plan: The collaboration will produce PacBio HiFi long-read RNA sequencing data from up to 100 fresh frozen patient tumor samples, capturing the molecular state of tumors to improve biomarker discovery and clinical trial design.
- Model Development and Applications: Proceeds from the financing will support ongoing model development and partnerships with pharmaceutical and diagnostic companies, as Blank Bio's foundation models leverage RNA-level signals to enhance patient stratification and clinical interpretation, driving precision medicine applications.
- Team and Technical Advantage: The Blank Bio team consists of AI scientists and engineers from companies like Recursion and DeepMind, possessing deep expertise in RNA biology and machine learning, aiming to transform transcriptomic data into powerful patient-level insights that enhance drug development and diagnostics success rates.
See More
PacBio Publishes Major Reproductive Genomics Study in Asia Pacific
- Significant Findings: PacBio's HiFi whole genome sequencing has successfully recruited 96 participants in a multicenter study across Asia Pacific, revealing the complexities of reproductive genetics and is expected to advance genomic research in the fertility field.
- Clear Technical Advantages: In this study, 84 participants underwent HiFi sequencing, enabling the analysis of multiple genomic variations in a single test, significantly enhancing the resolution of complex genomic regions and thereby reducing the need for repeat testing and shortening the time to insights.
- Effective Collaborative Framework: Utilizing DNAstack's federated analysis framework, the research team facilitated cross-national and cross-institutional collaboration while ensuring data security, generating robust comparable datasets that provide critical support for understanding the genetic architecture of fertility issues.
- Future Development Plans: The consortium plans to expand recruitment, evaluate broader multi-omic approaches, and explore scalable sequencing workflows to improve accessibility and cost-efficiency for future reproductive genomics studies, further driving innovation in the field.
See More
Pacific Biosciences Reports Q1 Earnings Miss, Shares Drop 16%
- Earnings Decline: Pacific Biosciences reported a Q1 non-GAAP EPS of -$0.12, beating estimates by $0.01, but revenue only rose 0.1% year-over-year to $37.2M, missing consensus expectations, which led to a 16% drop in shares.
- Margin Pressure: The company's non-GAAP gross margin fell to 37% from 40% a year earlier, primarily due to rising computing component costs, temporary promotional activities related to Vega products, and inventory and warranty-related charges, indicating significant profitability challenges.
- Revised Revenue Outlook: PacBio narrowed its full-year 2026 revenue outlook to $165M-$175M from a previous range of $165M-$180M, with the updated midpoint of $170M falling below the analyst consensus estimate of approximately $174.4M, reflecting concerns about future growth.
- Market Reaction: The disappointing earnings report raised investor concerns about the company's future performance, resulting in a significant stock price decline, highlighting worries about Pacific Biosciences' profitability and growth potential in a competitive biotech landscape.
See More
Pacific Biosciences Q1 2026 Earnings Highlights
- Revenue Growth and Challenges: In Q1 2026, total revenue reached $37.2 million, falling short of analysts' expectations of $39.98 million; however, consumable revenue hit $21.8 million, reflecting over 100% year-over-year growth, indicating strong demand in the clinical market.
- Strategic Adjustments and Asset Sale: The company generated approximately $48.1 million in cash from the sale of high-throughput short-read sequencing assets to Illumina, aiming to sharpen its focus on long-read sequencing technology while resolving litigation with personal genomics in Taiwan, thereby clarifying its strategic direction.
- Outlook Downgrade: Management lowered the high end of its 2026 revenue outlook by $5 million, now expecting revenue in the range of $165 million to $175 million, reflecting a cautious stance due to ongoing pressure on academic and government funding.
- Margin Pressure: Although the non-GAAP gross margin was reported at 37%, management indicated that rising compute component costs and a one-time promotional event impacted margins, with expectations for improvement in the second quarter.
See More
Pacific Biosciences Q1 Earnings Report Highlights
- Earnings Beat: Pacific Biosciences reported a Q1 non-GAAP EPS of -$0.12, beating expectations by $0.01, indicating some improvement in cost management despite ongoing losses.
- Revenue Miss: The company generated $37.2 million in revenue for Q1, a slight increase of 0.1% year-over-year, but fell short of market expectations by $2.78 million, reflecting weak market demand and intensified competition.
- 2026 Financial Outlook: PacBio anticipates full-year revenue for 2026 to range between $165 million and $175 million, suggesting a cautiously optimistic outlook from management despite industry challenges.
- Historical Performance Review: Historical earnings data for Pacific Biosciences indicates that while facing short-term pressures, the company retains long-term growth potential, necessitating investor attention on future strategic adjustments and market responses.
See More
