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Pay vs Performance Disclosure
number in Millions
 2 Months Ended 10 Months Ended 12 Months Ended
Dec. 31, 2020
Nov. 14, 2020
Dec. 31, 2024
USD ($)
Dec. 31, 2023
USD ($)
Dec. 31, 2022
USD ($)
Dec. 31, 2021
USD ($)
Dec. 31, 2020
USD ($)
Pay vs Performance Disclosure              
Pay vs Performance Disclosure, Table    
Pay Versus Performance Table(1)

Value of Initial Fixed $100 Investment(2)
Year

Summary
 Compensation
 Table (“SCT”) Total
 for PEO 1
Compensation Actually Paid to PEO 1(3)
Summary Compensation Table Total for PEO 2
Compensation Actually Paid to PEO 2(3)
Average Summary Compensation Table Total for Non-PEO NEOs
Average Compensation Actually Paid to Non-PEO NEOs(3)
 Total Shareholder Return
Peer Group Total Shareholder Return(4)
Net Income (in millions)
Company Selected Measure: Revenue (in millions)(5)
2024$9,181,620$(5,981,089)N/AN/A$3,602,541$(4,385,477)$36$118$(309.9)$154.0
2023$8,046,575$10,050,624N/AN/A$3,218,108$4,126,192$191$119$(306.7)$200.5
2022$6,616,251$(13,137,692)N/AN/A$4,472,247$(842,693)$159$114$(314.2)$128.3
2021$2,866,931$(6,449,458)N/AN/A$11,099,491$6,128,515$398$126$(181.2)$130.5
2020$12,478,770$51,604,237$1,717,050$8,398,519$1,855,694$4,749,166$505$126$29.4$78.9
        
Company Selected Measure Name     revenue        
Named Executive Officers, Footnote     The NEOs for each applicable fiscal year are:
•2024: PEO 1: Christian O. Henry. Non-PEO NEOs: Susan Kim, Mark Van Oene and Jeff Eidel. Ms. Kim’s last day as an employee of the Company was December 6, 2024. Mr. Eidel's last day as an employee of the Company was November 15, 2024.
•2023: PEO 1: Christian O. Henry. Non-PEO NEOs: Susan Kim, Mark Van Oene and Jeff Eidel.
•2022: PEO 1: Christian O. Henry. Non-PEO NEOs: Susan Kim, Mark Van Oene, Jeff Eidel, and Peter Fromen. Mr. Fromen resigned from his role as Chief Commercial Officer effective May 20, 2022. Mr. Eidel was appointed as Chief Commercial Officer effective August 16, 2022.
•2021: PEO 1: Christian O. Henry. Non-PEO NEOs: Susan Kim, Mark Van Oene, Peter Fromen, and Denis Zaccarin. Dr. Zaccarin ceased to serve as an executive officer after January 8, 2021. Mr. Van Oene was appointed as Chief Operating Officer, and Mr. Fromen was appointed Chief Commercial Officer, effective January 8, 2021.
•2020: PEO 1: Christian O. Henry. PEO 2: Michael Hunkapiller. Dr. Hunkapiller stepped down from his role as Chief Executive Officer and President effective September 14, 2020. Non-PEO NEOs: Susan Kim, Susan Barnes, and Denis Zaccarin. Ms. Barnes retired from her role as Executive Vice President and Chief Financial Officer effective August 7, 2020. Mr. Henry was appointed as President and Chief Executive Officer effective September 14, 2020, and Ms. Kim was appointed as Chief Financial Officer effective September 28, 2020.
        
Peer Group Issuers, Footnote     The peer group used for relative TSR is the Nasdaq Biotechnology Index, which is the same peer group we use for the stock performance graph included in our Annual Report pursuant to Item 201(e) of Regulation S-K.        
Adjustment To PEO Compensation, Footnote     The SEC rules require that certain adjustments be made to the Summary Compensation Table totals to determine CAP, as reported in the Pay Versus Performance table above. The following table details the applicable adjustments that were made to determine CAP.
YearExecutivesSCT TotalDeduct SCT Stock & Option AwardsAdd Year-End Value of Unvested Awards Granted in YearAdd Change in Value of Unvested Awards Granted in Prior YearsAdd Fair Value of Vested Awards Granted in YearAdd Change in Value of Vested Awards Granted in Prior YearsDeduct Fair Value of Forfeited Awards in Year
2024PEO 1$9,181,620$(8,237,595)$2,938,557$(6,025,059)— $(3,838,612)— 
2024Non-PEO NEOs*$3,602,541$(2,893,843)$486,826$(1,799,745)— $(1,513,626)$(2,267,630)
2023PEO 1$8,046,575$(6,636,013)$6,903,424$740,655— $995,983— 
2023Non-PEO NEOs*$3,218,108$(2,443,297)$2,541,755$560,532— $249,095— 
2022PEO 1$6,616,251$(5,517,997)$3,572,661$(11,593,565)$485,101$(6,700,144)— 
2022Non-PEO NEOs*$4,472,247$(3,944,226)$2,962,458$(2,161,553)$141,415$(1,075,233)$(1,237,802)
2021PEO 1$2,866,931$(1,448,052)$574,247$(8,880,638)$94,868$343,184— 
2021Non-PEO NEOs*$11,099,491$(10,246,763)$5,818,159$(603,005)$25,851$34,783— 
2020PEO 1$12,478,770$(11,835,900)$50,961,367— — — — 
2020PEO 2$1,717,050$(551,250)$3,891,000$592,015$1,945,500$1,061,203$(257,000)
2020Non-PEO NEOs*$1,855,694$(1,535,473)$4,481,588$138,827— $(8,737)$(182,732)
* Presented on an averaged basis
(a) For purposes of the adjustments to determine “compensation actually paid”, we computed the fair value of equity awards as of each measurement date using valuation assumptions and methodologies (including expected term, volatility, dividend yield and risk-free interest rates) that are consistent with those used to estimate fair value at grant under U.S. GAAP; provided that we made certain adjustments to the valuation assumptions used to calculate option fair values from those disclosed at the time of grant, including to the risk-free rate due to macroeconomic changes between the grant date and valuation dates, the option term in order to incorporate the passage of time in the awards’ life and by the degree to which the option was in or out of the money, the volatilities due to macroeconomic changes in the market for our common stock between the grant date and valuation dates, and to the stock price on the valuation date due to changes in our stock price. All other valuation assumptions are not materially different from the grant-date assumptions and there were no changes in calculation methodology. For additional details on the valuation assumptions used at grant, see Note 9. “Stockholders’ Equity” to the consolidated financial statements included in our Annual Report.
        
Non-PEO NEO Average Total Compensation Amount     $ 3,602,541 $ 3,218,108 $ 4,472,247 $ 11,099,491 $ 1,855,694
Non-PEO NEO Average Compensation Actually Paid Amount     $ (4,385,477) 4,126,192 (842,693) 6,128,515 4,749,166
Adjustment to Non-PEO NEO Compensation Footnote     The SEC rules require that certain adjustments be made to the Summary Compensation Table totals to determine CAP, as reported in the Pay Versus Performance table above. The following table details the applicable adjustments that were made to determine CAP.
YearExecutivesSCT TotalDeduct SCT Stock & Option AwardsAdd Year-End Value of Unvested Awards Granted in YearAdd Change in Value of Unvested Awards Granted in Prior YearsAdd Fair Value of Vested Awards Granted in YearAdd Change in Value of Vested Awards Granted in Prior YearsDeduct Fair Value of Forfeited Awards in Year
2024PEO 1$9,181,620$(8,237,595)$2,938,557$(6,025,059)— $(3,838,612)— 
2024Non-PEO NEOs*$3,602,541$(2,893,843)$486,826$(1,799,745)— $(1,513,626)$(2,267,630)
2023PEO 1$8,046,575$(6,636,013)$6,903,424$740,655— $995,983— 
2023Non-PEO NEOs*$3,218,108$(2,443,297)$2,541,755$560,532— $249,095— 
2022PEO 1$6,616,251$(5,517,997)$3,572,661$(11,593,565)$485,101$(6,700,144)— 
2022Non-PEO NEOs*$4,472,247$(3,944,226)$2,962,458$(2,161,553)$141,415$(1,075,233)$(1,237,802)
2021PEO 1$2,866,931$(1,448,052)$574,247$(8,880,638)$94,868$343,184— 
2021Non-PEO NEOs*$11,099,491$(10,246,763)$5,818,159$(603,005)$25,851$34,783— 
2020PEO 1$12,478,770$(11,835,900)$50,961,367— — — — 
2020PEO 2$1,717,050$(551,250)$3,891,000$592,015$1,945,500$1,061,203$(257,000)
2020Non-PEO NEOs*$1,855,694$(1,535,473)$4,481,588$138,827— $(8,737)$(182,732)
* Presented on an averaged basis
(a) For purposes of the adjustments to determine “compensation actually paid”, we computed the fair value of equity awards as of each measurement date using valuation assumptions and methodologies (including expected term, volatility, dividend yield and risk-free interest rates) that are consistent with those used to estimate fair value at grant under U.S. GAAP; provided that we made certain adjustments to the valuation assumptions used to calculate option fair values from those disclosed at the time of grant, including to the risk-free rate due to macroeconomic changes between the grant date and valuation dates, the option term in order to incorporate the passage of time in the awards’ life and by the degree to which the option was in or out of the money, the volatilities due to macroeconomic changes in the market for our common stock between the grant date and valuation dates, and to the stock price on the valuation date due to changes in our stock price. All other valuation assumptions are not materially different from the grant-date assumptions and there were no changes in calculation methodology. For additional details on the valuation assumptions used at grant, see Note 9. “Stockholders’ Equity” to the consolidated financial statements included in our Annual Report.
        
Compensation Actually Paid vs. Total Shareholder Return    
Description of Relationship Between PEO and Non-PEO NEO Compensation Actually Paid (in millions) and Company and Nasdaq Biotechnology Index (“NBI”) TSR (12/31/2019 indexed to $100)
The following chart sets forth the relationship between Compensation Actually Paid to our PEOs and the average of Compensation Actually Paid to our Non-PEO NEOs, versus the Company’s cumulative TSR and the NBI TSR, as applicable, over the five most recently completed fiscal years.
CAP vs TSR.gif
        
Compensation Actually Paid vs. Net Income    
Description of Relationship Between PEO and Non-PEO NEO Compensation Actually Paid (in millions) and Net Income (Loss)
The following chart sets forth the relationship between Compensation Actually Paid to our PEO, the average of Compensation Actually Paid to our Non-PEO NEOs and our Net Income (Loss) during the five most recently completed fiscal years.
Although Item 402(v) of Regulation S-K requires the description of the relationship between the compensation actually paid for our NEOs and our net income (loss), we do not currently utilize GAAP or non-GAAP net income (loss) as a performance measure in any of our incentive programs. As a result, the impact of year-over-year fluctuations in our net income (loss) has less of an impact on compensation actually paid.
CAP vs. Net Income.gif
        
Compensation Actually Paid vs. Company Selected Measure    
Description of Relationship Between PEO and Non-PEO NEO Compensation Actually Paid (in millions) and Company-Selected Measure
The following chart sets forth the relationship between Compensation Actually Paid to our PEO, the average of Compensation Actually Paid to our Non-PEO NEOs, and our Company-Selected Measure during the five most recently completed fiscal years.
CAP vs Revenue.gif
        
Tabular List, Table    
Revenue
Cash, cash equivalents and short-term investments
        
Total Shareholder Return Amount     $ 36 191 159 398 505
Peer Group Total Shareholder Return Amount     118 119 114 126 126
Net Income (Loss)     $ (309,900,000) $ (306,700,000) $ (314,200,000) $ (181,200,000) $ 29,400,000
Company Selected Measure Amount     154.0 200.5 128.3 130.5 78.9
PEO Name Christian O. Henry Michael Hunkapiller Christian O. Henry Christian O. Henry Christian O. Henry Christian O. Henry  
Additional 402(v) Disclosure     TSR is calculated by assuming that a $100 investment was made at the close of trading on December 31, 2019, and reinvesting all dividends until the last day of each reported fiscal year.The company-selected measure is revenue, as described above in “Compensation Discussion and Analysis.” Revenue means all GAAP-based revenue as reflected in our audited financial statements.
The financial performance measures listed below represent the most important financial performance measures that were used to determine the compensation actually paid to our NEOs in 2024. No other financial performance measures were used to determine compensation actually paid to our NEOs for 2024.
        
Measure:: 1              
Pay vs Performance Disclosure              
Name     Revenue        
Measure:: 2              
Pay vs Performance Disclosure              
Name     Cash, cash equivalents and short-term investments        
Christian O Henry [Member]              
Pay vs Performance Disclosure              
PEO Total Compensation Amount     $ 9,181,620 $ 8,046,575 $ 6,616,251 $ 2,866,931 $ 12,478,770
PEO Actually Paid Compensation Amount     (5,981,089) 10,050,624 (13,137,692) (6,449,458) 51,604,237
Christian O Henry [Member] | Aggregate Grant Date Fair Value of Equity Award Amounts Reported in Summary Compensation Table              
Pay vs Performance Disclosure              
Adjustment to Compensation, Amount     (8,237,595) (6,636,013) (5,517,997) (1,448,052) (11,835,900)
Christian O Henry [Member] | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested              
Pay vs Performance Disclosure              
Adjustment to Compensation, Amount     2,938,557 6,903,424 3,572,661 574,247 50,961,367
Christian O Henry [Member] | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested              
Pay vs Performance Disclosure              
Adjustment to Compensation, Amount     (6,025,059) 740,655 (11,593,565) (8,880,638) 0
Christian O Henry [Member] | Vesting Date Fair Value of Equity Awards Granted and Vested in Covered Year              
Pay vs Performance Disclosure              
Adjustment to Compensation, Amount     0 0 485,101 94,868 0
Christian O Henry [Member] | Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year              
Pay vs Performance Disclosure              
Adjustment to Compensation, Amount     (3,838,612) 995,983 (6,700,144) 343,184 0
Christian O Henry [Member] | Prior Year End Fair Value of Equity Awards Granted in Any Prior Year that Fail to Meet Applicable Vesting Conditions During Covered Year              
Pay vs Performance Disclosure              
Adjustment to Compensation, Amount     0 0 0 0 0
Michael Hunkapiller [Member]              
Pay vs Performance Disclosure              
PEO Total Compensation Amount             1,717,050
PEO Actually Paid Compensation Amount             8,398,519
Michael Hunkapiller [Member] | Aggregate Grant Date Fair Value of Equity Award Amounts Reported in Summary Compensation Table              
Pay vs Performance Disclosure              
Adjustment to Compensation, Amount             (551,250)
Michael Hunkapiller [Member] | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested              
Pay vs Performance Disclosure              
Adjustment to Compensation, Amount             3,891,000
Michael Hunkapiller [Member] | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested              
Pay vs Performance Disclosure              
Adjustment to Compensation, Amount             592,015
Michael Hunkapiller [Member] | Vesting Date Fair Value of Equity Awards Granted and Vested in Covered Year              
Pay vs Performance Disclosure              
Adjustment to Compensation, Amount             1,945,500
Michael Hunkapiller [Member] | Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year              
Pay vs Performance Disclosure              
Adjustment to Compensation, Amount             1,061,203
Michael Hunkapiller [Member] | Prior Year End Fair Value of Equity Awards Granted in Any Prior Year that Fail to Meet Applicable Vesting Conditions During Covered Year              
Pay vs Performance Disclosure              
Adjustment to Compensation, Amount             (257,000)
Non-PEO NEO | Aggregate Grant Date Fair Value of Equity Award Amounts Reported in Summary Compensation Table              
Pay vs Performance Disclosure              
Adjustment to Compensation, Amount     (2,893,843) (2,443,297) (3,944,226) (10,246,763) (1,535,473)
Non-PEO NEO | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested              
Pay vs Performance Disclosure              
Adjustment to Compensation, Amount     486,826 2,541,755 2,962,458 5,818,159 4,481,588
Non-PEO NEO | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested              
Pay vs Performance Disclosure              
Adjustment to Compensation, Amount     (1,799,745) 560,532 (2,161,553) (603,005) 138,827
Non-PEO NEO | Vesting Date Fair Value of Equity Awards Granted and Vested in Covered Year              
Pay vs Performance Disclosure              
Adjustment to Compensation, Amount     0 0 141,415 25,851 0
Non-PEO NEO | Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year              
Pay vs Performance Disclosure              
Adjustment to Compensation, Amount     (1,513,626) 249,095 (1,075,233) 34,783 (8,737)
Non-PEO NEO | Prior Year End Fair Value of Equity Awards Granted in Any Prior Year that Fail to Meet Applicable Vesting Conditions During Covered Year              
Pay vs Performance Disclosure              
Adjustment to Compensation, Amount     $ (2,267,630) $ 0 $ (1,237,802) $ 0 $ (182,732)