What's Behind Pacific Biosciences of California's Ugly Q2 Results?

It's been pretty much nothing but bad news from Pacific Biosciences of California (NASDAQ:PACB) (PacBio) so far in 2020. Even after rebounding from its March lows, the stock is still down more than 20% year to date.

Unfortunately, things could get worse for PacBio before they get better. The gene-sequencing systems maker announced its second-quarter results after the market closed on Monday. Here are the highlights from PacBio's Q2 update.