PacBio cuts costs as Trump tariffs depress outlook

US sequencing firm PacBio (Nasdaq: PACB) is cutting jobs and reducing spending across its business as it braces for the financial impact of new global tariffs and growing uncertainty around federal research funding.

The moves come just days after the White House more than doubled its duties on Chinese imports, triggering retaliatory action from China. The political escalation has left biotech firms increasingly exposed, with DNA sequencing technologies caught in the crossfire.

In anticipation, PacBio said it will lower its annualized operating expense run rate by up to $50 million, with reductions in both headcount and general spending. That compares to earlier cost projections of up to $280 million for the year.