Bionano Genomics Inc Stock Price, News & Analysis

Bionano Genomics announced its largest presence at the 2021 ACMG Annual Meeting, showcasing 16 presentations related to its technology across key genetic markets. The event, held virtually from April 13-16, 2021, highlighted advancements in prenatal, postnatal, blood cancers, and solid tumors. CEO Erik Holmlin expressed pride in the extensive representation of Bionano data, emphasizing its growing significance in the medical genetics community and potential to overcome barriers in the US market.

Bionano Genomics (BNGO) announced that it will present multiple studies on structural variant detection using its optical genome mapping technology at the American Association for Cancer Research (AACR) Annual Meeting 2021. The event will take place virtually from April 10-15, 2021. Notable presentations include a Spotlight Presentation highlighting the technology's application in cancer research and a study discussing drug sensitivities in leukemias. Bionano's Saphyr system supports genetic research and diagnostic testing for neurodevelopmental disorders.

Bionano Genomics has announced the adoption of the Saphyr system for optical genome mapping by Indalo Bio in South Africa, representing the first use of this technology on the continent. Indalo Bio aims to develop assays for analyzing cancer genomes in patients with hematological malignancies and solid tumors. Jo-Ann Kotze, Head of Genetics at Indalo Bio, expressed confidence in OGM's potential to enhance cytogenetic analysis. CEO Erik Holmlin emphasized the importance of expanding access to advanced genetic technologies, particularly in Africa, which could improve patient outcomes globally.

Bionano Genomics (BNGO) recently published a study in the journal Genes detailing the effectiveness of optical genome mapping (OGM) in prenatal genetic testing. The study highlights OGM's capacity to detect all types of structural variants (SVs), positioning it as a potential new standard in prenatal analysis. Notable findings include the identification of genetic disorders like trisomy 21 and DiGeorge syndrome. The research emphasizes OGM's cost-effectiveness and quick turnaround time, suggesting it could enhance prenatal testing workflows significantly.

Bionano Genomics (BNGO) reported its financial results for Q4 2020, highlighting a revenue increase of 43% to $4 million compared to Q4 2019, primarily due to growth in service revenue from Lineagen. However, total revenue for 2020 decreased by $1.6 million to $8.5 million, impacted by COVID-19. The company raised approximately $335 million in early 2021, strengthening its balance sheet. They aim to enhance the adoption of their Saphyr® system in clinical testing and have ambitious milestones planned for 2021, including the expansion of clinical assays.

Bionano Genomics has announced its participation in two virtual investor conferences. Management will present at the Oppenheimer 31st Annual Healthcare Conference on March 17, 2021, at 11:20 AM ET. Additionally, presentations will be available at the Maxim Group's Emerging Growth Conference from March 17-19, 2021. Webcasts will be accessible on Bionano's website for 30 days post-event.

Bionano Genomics (NASDAQ: BNGO) presented virtually at the H.C. Wainwright Global Life Sciences Conference held on March 9-10, 2021. CEO Dr. Erik Holmlin's presentation is available on-demand on the conference portal and Bionano's investor page for 30 days post-event. Bionano specializes in genome analysis with its Saphyr system, designed for structural variation detection. This platform enables researchers to enhance diagnostics and therapeutic targets. Lineagen, a Bionano subsidiary, has provided over 65,000 genetic tests for neurodevelopmental disorders, including ASD.

Bionano Genomics (BNGO) will host a conference call and webcast on March 23, 2021, at 4:30 p.m. Eastern Time to discuss its fourth quarter and year-end financial results for 2020. The company will also highlight recent corporate advancements. Participants can join the call by dialing the provided toll-free or international numbers. Bionano provides genome analysis tools via its Saphyr system, aimed at enhancing genetic research and diagnostics.

Bionano Genomics (BNGO) announced that Praxis Genomics received DEX Z-codes from Palmetto MolDX for its complete menu of laboratory developed tests (LDTs) based on the Saphyr system. These codes enhance clarity for payers regarding molecular diagnostics tests and could accelerate claim payments. Praxis is the first CAP-accredited lab in the U.S. to offer LDTs based on whole genome analysis with Saphyr, potentially leading to Medicare and private insurance reimbursement for optical genome mapping (OGM) tests. Bionano aims to improve the Saphyr system's throughput to 17,000 samples annually by mid-2023.