Company: PACB
Filing Date: 2025-03-17
Form Type: 10-K
Source: 0001299130-25-000061
Chunk: 342

Company: PACIFIC BIOSCIENCES OF CALIFORNIA, INC.
Filing Date: 2025-03-17
Form: 10-K
Item: Item 1
Chunk 342
---
 3Beginning balance as of December 31, 2023$19,550 Change in estimated fair value(850)Ending balance as of December 31, 2024$18,700 Changes to the fair value are recorded as the change in fair value of contingent consideration on our consolidated statement of operations and comprehensive loss.Contingent Consideration - OmniomeOn September 20, 2023, we achieved the commercial milestone in connection with the 2021 acquisition of Omniome. Consequently, former Omniome securityholders were entitled to receive as milestone consideration, among other things, an aggregate of approximately $100.9 million in cash and approximately 9.0 million shares of our common stock, representing $95.9 million divided by the volume-weighted average of the trading prices of our common stock for the twenty trading days ending with and including the trading day that was two days immediately prior to the achievement of the milestone. The $95.9 million represents the $100.0 million that was to be paid in shares of our common stock offset by $4.1 million attributable to stock options issued by PacBio in replacement of Omniome’s unvested options as part of the transaction, pursuant to the terms of the Omniome merger agreement. Following the achievement of the commercial milestone, $101.3 million of the contingent consideration, which includes certain payroll taxes, was paid during the year ended December 31, 2023. Additionally, 8,988,391 shares were issued at a value of $84.8 million to the former Omniome securityholders.

Fiscal 2024 Form 10-K101

Cash, Cash Equivalents, Restricted Cash, and InvestmentsThe following table summarizes our cash, cash equivalents, restricted cash, and investments:December 31, 2024(in thousands)AmortizedCost Grossunrealizedgains Grossunrealizedlosses FairValue Cash and cash equivalents:Cash and money market funds$55,370 $— $— $55,370 U.S. government & agency securities— — — — Total cash and cash equivalents 55,370 — — 55,370 Investments:Commercial paper — — — — Corporate debt securities 46,746 184 (25)46,905 U.S. government & agency securities287,393 418 (155)287,656 Total investments 334,139