Bionano Genomics Inc Stock Price, News & Analysis

Bionano Genomics announced the publication of a study from its Lineagen team that introduces a groundbreaking scoring algorithm called NeuroSCORE. This model evaluates nearly all protein-coding genes for their potential to cause central nervous system (CNS) disorders. By integrating this with the Saphyr platform, the company enhances its diagnostic capabilities. NeuroSCORE combines data from multiple databases, allowing for better identification of variants of unknown significance (VUS) and potentially discovering novel genes linked to conditions like autism spectrum disorder.

Bionano Genomics (Nasdaq: BNGO) will present at the BTIG MedTech, Digital Health, Life Science & Diagnostic Tools Conference on February 18, 2021, at 1:30 PM PST. CEO Erik Holmlin will participate in a fireside chat. A live webcast can be accessed on Bionano’s Investors website and will be archived for 30 days. Bionano specializes in genome analysis and diagnostic testing through its Saphyr system and Lineagen business, focusing on autism spectrum disorder and other neurodevelopmental disabilities.

Bionano Genomics has announced a significant study showcasing the effectiveness of its Saphyr system for analyzing solid tumors. Conducted by Dr. James Broach, the research demonstrated that Saphyr can detect structural variants (SVs) in various cancer types, including breast and lung cancers. The findings reveal the system's ability to isolate high-quality DNA and identify important cancer gene variants, potentially facilitating targeted therapies. This development opens new avenues for cancer diagnostics and treatment, enhancing Saphyr's role in oncology.

Bionano Genomics (Nasdaq: BNGO) has initiated a pilot program for its Saphyr system at the University Health Network's Laboratory Medicine Program in Toronto, Canada's largest hospital diagnostic lab. This program aims to enhance cancer diagnostics by employing optical genome mapping (OGM) to improve the detection of chromosomal abnormalities and reduce costs. With UHN performing 25 million tests annually, this collaboration represents a significant step forward in streamlining cytogenomic analysis and potentially transforming cancer diagnosis.

Bionano Genomics (Nasdaq: BNGO) announced the availability of presentation recordings from its recent Next-Generation Cytogenomics Symposium, held from January 11 to 15, where over 15,500 registrations were recorded. The event, featuring 33 presentations by Saphyr users, focused on optical genome mapping applications, including studies on genetic diseases and COVID-19. CEO Erik Holmlin highlighted the symposium's role in enhancing awareness of the Saphyr system, which aims to improve diagnostics and therapeutic targets. The recordings are accessible on Bionano's website and YouTube page.

Bionano Genomics (BNGO) announced a presentation by Dr. Gordana Raca from Children’s Hospital Los Angeles demonstrating the efficacy of optical genome mapping (OGM) using Saphyr for analyzing pediatric leukemias. OGM detected crucial structural variants (SVs) that standard methods—including NGS—missed, potentially impacting patient care. This method identified gene fusions and a novel Acute Lymphoblastic Leukemia subtype, showcasing OGM's advantages in precision and sensitivity over traditional techniques. CEO Erik Holmlin emphasized that Saphyr could transform cytogenomic testing in pediatric cancer.

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.