Pacific Biosciences of California (PACB) 8-K Results of Operations and Financial Condition

Exhibit 99.1

PACIFIC BIOSCIENCES OF CALIFORNIA, INC.

Consolidated Balance Sheets

(Unaudited)

	December 31,
(in thousands, except per share amounts)	2013			2012
Assets
Current assets
Cash and cash equivalents	$	26,362		$	46,540
Investments		86,166			54,040
Accounts receivable		2,746			2,822
Inventory, net		10,050			9,592
Prepaid expenses and other current assets		1,135			2,006
Total current assets		126,459			115,000
Property and equipment, net		9,236			14,329
Other long-term assets		490			354
Total assets	$	136,185		$	129,683
Liabilities and Stockholders’ Equity
Current liabilities
Accounts payable	$	1,717		$	2,988
Accrued expenses and other current liabilities		9,797			8,204
Deferred service revenue, current		4,046			3,378
Deferred development revenue, current		6,785			—
Facility financing obligation, current		210			173
Total current liabilities		22,555			14,743
Deferred service revenue, non-current		518			800
Deferred development revenue, non-current		26,519			—
Deferred rent and other long-term liabilities		1,114			2,145
Notes payable, non-current		13,347			—
Financing derivative		549			—
Facility financing obligation, non-current		2,403			2,613
Total liabilities		67,005			20,301
Stockholders’ equity
Convertible Preferred Stock, $0.001 par value:
Authorized 50,000 shares; No shares issued or outstanding at December 31, 2013 and 2012		—			—
Common Stock and additional paid-in-capital, $0.001 par value:
Authorized 1,000,000 shares; Issued and outstanding 66,275 and 56,170 shares at December 31, 2013 and 2012, respectively		684,479			645,372
Accumulated other comprehensive income		14			30
Accumulated deficit		(615,313	)		(536,020	)
Total stockholders’ equity		69,180			109,382
Total liabilities and stockholders’ equity	$	136,185		$	129,683