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Bionano Genomics, Inc. - BNGO STOCK NEWS

Welcome to our dedicated page for Bionano Genomics news (Ticker: BNGO), a resource for investors and traders seeking the latest updates and insights on Bionano Genomics stock.

Bionano Genomics, Inc. (Nasdaq: BNGO) is a pioneering company in the life sciences instrumentation sector, dedicated to advancing genome biology understanding through innovative solutions. The company is renowned for its development and marketing of the Saphyr™ system, an ultra-sensitive platform designed for structural variation detection. This system enables researchers and clinicians to accelerate diagnostics and therapeutic target discovery, streamlining studies on chromosomal changes.

Bionano's core mission is to transform genomic analysis through optical genome mapping (OGM) solutions, diagnostic services, and software. Their flagship product, Saphyr™, offers unmatched capabilities in structural variation discovery and the ability to construct comprehensive genome assemblies. This technology is crucial for applications in cancer research, human disease studies, agricultural bioengineering, and genome discovery.

Recent achievements include the detection of unique structural variations and gene fusions in blood cancer samples, underscoring OGM's potential as a complement to traditional sequencing methods. Bionano's OGM technology has shown superior sensitivity and resolution in various studies, highlighting its utility in pediatric leukemia and other cancers.

The company operates globally with significant revenue from the Americas, and it generates product revenue from the sales of OGM and Ionic Purification systems and consumables. Bionano also offers diagnostic testing for neurodevelopmental disabilities through its Lineagen, Inc. d/b/a Bionano Laboratories business and industry-leading genome analysis software that integrates next-generation sequencing and microarray data.

Partnerships with AI-driven companies like Diagens further enhance Bionano's offerings, aiming to improve reproductive health and other clinical applications. Additionally, Bionano continuously upgrades its VIA software and Bionano Solve pipeline to provide researchers with precise and sensitive genomic research tools.

For more information, visit Bionano Genomics and its associated websites, www.bionanolaboratories.com and www.purigenbio.com.

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Bionano Genomics (Nasdaq: BNGO) has closed a registered direct offering, priced at-the-market under Nasdaq rules, raising $10 million upfront. An additional $20 million may be raised through the exercise of Series Warrants tied to clinical milestones. The offering consisted of 17,513,136 shares of common stock at $0.571 per share. Concurrently, Bionano issued Series A and B warrants, also priced at $0.571 per share, which are exercisable upon stockholder approval. The Series A warrants expire within 24 months or 60 days after achieving specific medical contractor coverage, while the Series B warrants expire within five years or six months after FDA clearance for an optical genome mapping system. The proceeds will be used for general corporate purposes, including R&D, debt repayment, and capital expenditures. The placement agent for this offering was H.C. Wainwright & Co.

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Bionano Genomics (Nasdaq: BNGO) announced a registered direct offering priced at-the-market under Nasdaq rules, raising approximately $10 million upfront with the potential for an additional $20 million from the exercise of clinical milestone-linked warrants. The offering includes 17,513,136 shares of common stock at $0.571 per share. Additionally, unregistered Series A and Series B warrants will be issued, which could potentially bring in more funds upon specific milestone achievements and stockholder approval. The company plans to use the proceeds for general corporate purposes, including R&D and debt repayment. The offering is expected to close around July 8, 2024.

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Bionano Genomics (Nasdaq: BNGO) has announced its participation in the International Society for Stem Cell Research (ISSCR) Annual Meeting 2024. The event will be held from July 10-13 in Hamburg, Germany, focusing on the use of optical genome mapping (OGM) in stem cell therapy research, development, and manufacturing. A sponsored session, featuring experts Dr. Lucia Gallego Villarejo, Dr. Jeanne Loring, and Dr. Alicia Bertolotti, will discuss OGM's role in assessing genome integrity and off-target events in engineered cells. Two scientific posters by Dr. Alex Hastie and Alex Chitsazan will showcase OGM's applications in cell manufacturing and bioprocessing.

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Bionano Genomics (Nasdaq: BNGO) has entered a software marketing agreement with Revvity (NYSE: RVTY) to market and commercialize Bionano’s VIA™ software as part of Revvity’s newborn sequencing research workflow.

VIA will enhance Revvity's sequencing solution by adding copy number variation (CNV) assessment and streamlining workflow interpretation. The end-to-end workflow includes DNA extraction, sample quality control, automated library preparation, sequencing, and cloud-based data management using systems from Element Biosciences or Illumina.

Bionano CEO Erik Holmlin emphasized the company's focus on transforming genome visualization and interpretation, supporting global adoption of next-generation sequencing solutions in newborn research.

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Bionano Genomics (NASDAQ: BNGO) has announced its active participation in the 2024 European Society for Human Genetics (ESHG) Annual Conference and the 2024 American Cytogenomics Conference (ACC), featuring 39 scientific presentations and posters.

These contributions will demonstrate the application of Bionano's Optical Genome Mapping (OGM) in genetic disorder, rare disease, and cancer research. Highlights include a session at ESHG presenting the OGM workflow, innovations such as the Stratys system and VIA software, and case studies on hereditary angioedema, structural variants in rare diseases, and multiple myeloma.

Key presentations at ACC will focus on OGM's role in enhancing detection of pathogenic variants and advancing genetic disease research. The sessions will cover the latest updates in the OGM workflow, aiming to improve sample-to-answer time and structural variant detection.

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Bionano Genomics (NASDAQ: BNGO) announced a private placement of senior secured convertible debentures due May 24, 2026, raising $18 million.

This financing will retire previous convertible debt from October 2023 and February 2024, strengthening the company's capital structure, liquidity, and ability to drive adoption of optical genome mapping while reviewing strategic alternatives to maximize shareholder value.

Canaccord Genuity acted as an exclusive financial advisor and placement agent for the offering. The securities were not registered under the Securities Act and are restricted from public offering within the United States.

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Bionano Genomics, stock symbol BNGO, announced three new studies that support the use of Optical Genome Mapping (OGM) in cell and gene therapy development. These studies demonstrate OGM's ability to detect genome integrity and structural variations in therapeutic cell lines like CAR-T cells, stem cells, and hiPSCs. The first study from Niño Jesús University Children's Hospital showed OGM's efficacy in assessing genotoxicity in CAR-T cells. The second study from Ruhr-University Bochum demonstrated OGM's utility in evaluating genome integrity post-CRISPR/Cas9 editing for Alzheimer's research. The third study from Janssen explored OGM's role in confirming the absence of off-target effects in stem cells edited for the APOE genotype, associated with Alzheimer's disease.

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Bionano Genomics, Inc. (Nasdaq: BNGO) announced significant upgrades to its suite of computational tools for comprehensive cancer analysis. The enhancements to the VIA™ software solution improve the detection and interpretation of aneusomies, small structural variants, and copy number variants. The upgrades also include dynamic visualization tools for better representation of findings, automated analysis, and interpretation of variants, and standardized Phred scale calculation for SV confidence scores.

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Bionano Genomics, Inc. (BNGO) reported Q1 2024 revenue of $8.8 million, an 18% increase over Q1 2023. The company's total installed base of optical genome mapping systems grew by 34%, with 8,249 nanochannel array flowcells sold, a 58% increase. BNGO announced a partnership with Hangzhou Diagens Biotechnology, a direct offering of $10 million, and planned software enhancements for cancer analysis. The company reiterated full-year revenue guidance of $37.0 to $41.0 million for 2024.

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Bionano Genomics, Inc. (Nasdaq: BNGO) will report its first quarter 2024 financial results on May 8, 2024, with a conference call and webcast to discuss recent corporate progress. Participants can join the event via phone or webcast and access a replay on the company's investor relations website.

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FAQ

What does Bionano Genomics, Inc. specialize in?

Bionano Genomics specializes in genome analysis solutions, particularly through their Saphyr™ system for structural variation detection.

What is the Saphyr™ system?

The Saphyr™ system is Bionano's high-speed, high-throughput whole genome mapping solution that offers unmatched structural variation discovery capabilities.

What are the applications of Bionano's OGM technology?

Bionano's OGM technology is used in cancer research, human disease studies, agricultural bioengineering, and genome discovery.

What recent achievements has Bionano reported?

Bionano recently reported detecting unique structural variations and gene fusions in blood cancer samples, showcasing OGM's potential as a complement to traditional sequencing methods.

Where does Bionano operate?

Bionano operates globally with significant revenue generated from the Americas, EMEA, and Asia Pacific regions.

What additional services does Bionano offer?

Bionano offers diagnostic testing for neurodevelopmental disabilities and industry-leading genome analysis software that integrates next-generation sequencing and microarray data.

Who are Bionano's key partners?

Bionano partners with companies like Diagens to enhance clinical applications, particularly in reproductive health.

What is the purpose of Bionano's VIA software?

Bionano's VIA software provides researchers with precise and sensitive tools for genomic research, improving visualization, interpretation, and reporting of results.

Are Bionano's products for research or clinical use?

Most of Bionano’s OGM products are for research use only and not for use in diagnostic procedures.

How can I learn more about Bionano Genomics?

You can visit Bionano's main website at www.bionano.com or its associated websites, www.bionanolaboratories.com and www.purigenbio.com, for more information.

Bionano Genomics, Inc.

Nasdaq:BNGO

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