Bionano Genomics Inc Stock Price, News & Analysis

Bionano Genomics (Nasdaq: BNGO) announced that Chief Medical Officer Dr. Alka Chaubey presented key findings at The Festival of Genomics & Biodata. The presentation emphasized Optical Genome Mapping (OGM) as a potential first-line test for diagnosing genetic diseases and cancers. Dr. Chaubey highlighted OGM's ability to detect all classes of structural variants (SVs), outperforming traditional methods like NGS. CEO Erik Holmlin expressed confidence in Saphyr’s role in revolutionizing cytogenomics, as evidenced by positive customer feedback.

Bionano Genomics announced the release of version 1.2 of its Compute On Demand (COD) solution, significantly lowering costs and analysis time for structural variant analysis in human genomes. With the integration of Microsoft Azure as a High-Performance Computing provider, compute costs are reduced by over 50% and processing time by 30%, providing results in just 9 hours. This update enhances throughput, allowing up to 96 samples per week, benefiting clinicians and researchers looking for faster insights into genetic diseases.

Bionano Genomics (BNGO) has successfully closed an underwritten public offering of 38,333,352 shares at $6.00 each, generating approximately $230 million in gross proceeds. This includes 5,000,002 shares from the underwriters' full exercise of their purchase option. The offering utilized a previously filed shelf registration statement that became effective on January 19, 2021. Oppenheimer & Co. Inc. acted as the sole book-running manager, with BTIG, LLC and others as co-managers. These funds will support the company's genome analysis tools for genetic research and diagnostics.

Bionano Genomics announced a public offering of 33,333,350 shares at $6.00 per share, aiming to raise approximately $200 million before expenses. The offering includes a 30-day option for underwriters to purchase up to 5,000,002 additional shares. The offering is set to close on January 22, 2021, subject to customary conditions. Oppenheimer & Co. is the sole book-running manager, with BTIG and others acting as co-managers. The shares are offered under a shelf registration statement effective January 19, 2021. Investors are encouraged to review the final prospectus for more details.

Bionano Genomics (Nasdaq: BNGO) announced plans for an underwritten public offering of its common stock, subject to market conditions. The offering aims to raise capital, though no details regarding size or terms are confirmed. Bionano intends to grant underwriters a 30-day option for an additional 15% of shares for over-allotments. Oppenheimer & Co. Inc. leads the offering, with BTIG, Ladenburg Thalmann, and Maxim Group as co-managers. The offering is registered under a previously filed shelf registration statement, effective since January 19, 2021.

Bionano Genomics announced the publication of a study comparing its Saphyr system with traditional cytogenomics methods for analyzing Myelodysplastic Syndromes (MDS). The study showed that optical genome mapping (OGM) detected all actionable variants and additional relevant aberrations missed by standard methodologies, enhancing clinical decision-making. Saphyr reduces the diagnostic process from weeks to just 4 days, potentially accelerating patient treatment. With OGM's high-throughput capabilities, it may streamline chromosomal analysis for MDS and other cancers.

Bionano Genomics (NASDAQ: BNGO) announced findings from the COVID-19 Host Genome Structural Variant Consortium, highlighting the Saphyr system's effectiveness in identifying structural variants (SVs) in severe COVID-19 patients. Key findings indicate that SVs affecting immunity and viral replication pathways are linked to disease severity, particularly in the interferon response pathway. The consortium aims to analyze 1,000 genomes to enhance understanding of COVID-19 susceptibility, with significant collaborations from renowned institutions worldwide.

Bionano Genomics (BNGO) highlighted groundbreaking advancements in optical genome mapping (OGM) with its Saphyr system during a recent symposium. Notable achievements include the ability to assess large genomic repeat expansions previously deemed unmeasurable. Clinical validations presented suggest that Saphyr enhances diagnostic accuracy, exemplified by a 25% increase in diagnostic yield for undiagnosed genetic diseases. The University of Iowa and KU Leuven also developed cost-effective assays for Facioscapulohumeral Muscular Dystrophy (FSHD) testing, advancing clinical diagnostics in pediatric genetic disorders.

Bionano Genomics (BNGO) announced positive preliminary findings on its Saphyr system, presented at the Next-Generation Cytogenomics Symposium. The system demonstrated superior performance over the Oncoscan array for detecting structural and copy number variations in solid tumors. Six studies highlighted Saphyr's capability to unveil complex genomic changes in various cancers, including brain and breast cancers, revealing new therapeutic targets. The studies showed that Saphyr achieved 100% concordance with existing testing methods while offering faster, cost-effective solutions for clinical applications.