Bionano Genomics Inc Stock Price, News & Analysis

Bionano Genomics, Inc. (BNGO) announced the appointment of Vincent Wong to its board of directors. Mr. Wong has extensive experience in commercial leadership, including nearly 18 years at Roche Diagnostics, where he held senior roles in product marketing, sales, and business development. His expertise is expected to enhance Bionano's commercial execution and market access strategies for its optical genome mapping solutions. CEO Erik Holmlin expressed optimism about Wong's contribution to the company’s growth and innovation in genomics.

Bionano Genomics (BNGO) launched version 6.1 of BioDiscovery’s NxClinical software, enhancing analysis of next-generation sequencing (NGS) data for genetic diseases and cancer. This update introduces improved detection of clinically relevant variants with new uniparental disomy functionality and an expanded sequence knowledgebase. The software streamlines data interpretation using automated annotations per ACMG standards, reducing reporting time. The initiative aims to integrate optical genome mapping (OGM) with NGS data to provide a comprehensive view of genomic variations.

Bionano Genomics (BNGO) is hosting its 2022 Symposium virtually from January 10-13, featuring 25 customers presenting on Optical Genome Mapping (OGM) applications in genetic diseases and cancer. Following the success of last year's event with over 4,500 attendees, this year's Symposium aims to showcase a broader range of applications, including a dedicated day for OGM and Next-Generation Sequencing (NGS). The event will include oral presentations, panel discussions, and scientific poster exhibits, emphasizing OGM's potential in clinical and translational research.

Bionano Genomics (BNGO) announced a study published in Blood from The University of Texas MD Anderson Cancer Center, showcasing the efficacy of Optical Genome Mapping (OGM) in assessing structural variations in myelodysplastic syndrome (MDS). The study involving 76 subjects revealed that OGM offers a higher resolution and faster analysis compared to traditional methods like karyotyping, with a 100% concordance rate. OGM identified 23 clinically significant structural variants that were undetected by karyotyping, underscoring its potential as a standard for structural variant profiling.

Bionano Genomics (BNGO) has appointed Keith Gligorich, PhD, as the new VP Operations for Bionano Laboratories. Gligorich, previously with Guardant Health, brings over a decade of experience in molecular diagnostics and laboratory operations. His role will focus on expanding the lab's offerings to include CLIA-certified and CAP-accredited services, including laboratory developed tests (LDTs) for genetic diseases and hematologic malignancies. This strategic move aims to enhance Saphyr adoption and develop reimbursement pathways with insurance companies.

Bionano Genomics (BNGO) announced a study from Johns Hopkins University published in the Journal of Clinical & Anatomic Pathology, highlighting the effectiveness of optical genome mapping (OGM) in cancer analysis. The study found that OGM achieved a sensitivity of 96% for copy number variants (CNVs) and 100% for structural variations (SVs) when compared to traditional methods. OGM revealed additional CNVs and SVs not detected by conventional techniques, showing potential in refining cancer diagnosis and identifying therapeutic targets. This positions OGM as a valuable alternative to existing genomic analysis methods.

Bionano Genomics (BNGO) announced its participation in the annual Association for Molecular Pathology (AMP) meeting, taking place virtually from November 15-19, 2021. Highlights include an oral presentation by Dr. Ravi Kolhe, six poster presentations, and a corporate workshop on combining Optical Genome Mapping (OGM) with next-generation sequencing (NGS). Key topics include applications in prenatal analysis, genetic diseases, and hematological malignancies. This event showcases Bionano's cutting-edge innovations and the growing integration of OGM in clinical settings.

Bionano Genomics reported a record total revenue of $4.7 million for Q3 2021, marking a 112% year-over-year increase due to growth in Saphyr installations. The company acquired BioDiscovery to enhance its position as a data solutions provider and is on track to meet its remaining 2021 milestones. Notable achievements include the shipment of 24 Saphyr systems and the sale of 3,969 flow cells, both record numbers. Despite operating expenses increasing to $21.8 million, Bionano maintains a strong balance sheet with $326.1 million in cash and investments.

Bionano Genomics (BNGO) announced the addition of two former Illumina executives, Stephanie Hoyle and Alex Helm, as vice presidents of Corporate Marketing and Strategic Product Marketing, respectively. Together, they bring 22 years of genomics experience and 36 years of marketing expertise. Hoyle will oversee global marketing, while Helm will develop the company's product roadmap. CEO Erik Holmlin expressed excitement over their appointments, aiming to enhance customer experience and improve health outcomes.