Pacific Biosciences estimates $27M in charges for expense reduction plan; San Diego office closure

PACIFIC BIOSCIENCES OF CALIFORNIA, INC.

Total charges estimated at $27M in fiscal 2024, including $10M compensation, $12M lease costs, $4M inventory.
Cash expenses of ~$21M: $10M severance and benefits, $11M San Diego office closure and lease costs.
Substantially all charges expected in Q2 and Q3 2024; company had previously disclosed plan on April 16, 2024.

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