Bionano Genomics Inc Stock Price, News & Analysis

Bionano Genomics (Nasdaq: BNGO) announced a study showing its optical genome mapping (OGM) detected 72% more large structural variants (SVs) compared to PacBio's sequencing method across 32 human genomes. The OGM technology costs less than $500 per genome, while PacBio's method is estimated at $10,000 to $20,000. The study highlights the clinical relevance of OGM for detecting SVs linked to neurodevelopmental disorders and cancer. Bionano's Saphyr system can produce clinical quality SV calls efficiently, demonstrating superior performance in structural variation detection.

Bionano Genomics (BNGO) announced a significant milestone for its Saphyr System with a new software update increasing annual throughput by 1,400% from 384 to nearly 5,000 human genomes. The update allows for imaging up to 96 genomes weekly at a 100x coverage depth. New features include Saphyr Assure, an automated health monitoring tool for data quality. This advancement supports high-volume settings like discovery research and cytogenomics, and comes pre-installed on new systems while being available to existing users free of charge.

Bionano Genomics (Nasdaq: BNGO) announced a pivotal publication in the Proceedings of the National Academy of Sciences, detailing how the Saphyr system effectively characterizes the integration of human herpesvirus 6 (HHV-6) within the human genome. This international collaboration demonstrated that traditional molecular techniques failed to pinpoint the viral integration sites, highlighting Saphyr's unique capabilities in imaging long DNA sequences. CEO Erik Holmlin emphasized the significance of this research in understanding HHV-6's impact on human health, as its integration can lead to various diseases.

Bionano Genomics (BNGO) is showcasing its Saphyr System as a diagnostic tool for hematologic malignancies at the ASH Annual Meeting. Dr. Rashmi Kanagal-Shamanna from MD Anderson will present on Saphyr's performance in Myelodysplastic Syndrome (MDS). Additionally, Dr. Barbara Dewaele will discuss a validation study for Acute Lymphoblastic Leukemia (ALL). The conference takes place from December 5-8, focusing on advancements in genomic diagnostics.

Bionano Genomics announced that its Saphyr system for optical genome mapping is being highlighted at the Annual Meeting of the Association for Molecular Pathology (AMP) from November 16-20, 2020. The event focuses on advancements in molecular diagnostics, with Bionano showcasing its technology in various presentations, including a corporate workshop. The application of the Saphyr system spans multiple clinical applications, especially in complex genetic disorders and heme malignancies, marking a significant step in molecular pathology education.

Bionano Genomics (NASDAQ: BNGO) reported Q3 2020 financial results, with total revenue of $2.2 million, an 86% sequential increase but down 33.7% year-over-year. The decrease is attributed to a change in revenue mix. Operating expenses rose to $11 million, driven by acquisition-related costs and increased workforce. Bionano completed the acquisition of Lineagen and received accolades for Saphyr as a first-line tool for leukemia diagnostics. Cash and equivalents stood at $18.9 million, up from $17.3 million at year-end 2019. A conference call to discuss the results is scheduled for November 12.

Bionano Genomics announced a study demonstrating that its Saphyr system achieved 100% concordance with standard methods for detecting structural variants (SVs) and copy number variants (CNVs) in 100 acute myeloid leukemia (AML) samples. Additionally, Saphyr provided extra actionable insights in 24% of cases, suggesting it may serve as a first-line test. The study, led by experts from prestigious institutions, highlights Saphyr's advantages over karyotyping, including better performance and cost-effectiveness. The findings may influence future medical guidelines and promote broader clinical adoption.

Bionano Genomics announced the publication of a study from UCSF demonstrating its optical genome mapping technology's superiority over whole exome sequencing (WES) and chromosomal microarray (CMA) in diagnosing rare genetic disorders. In a cohort of 50 patients, the technology provided definitive diagnoses for 12% and identified candidate pathogenic variants in 20% of cases. The study indicates Bionano's Saphyr system could enhance patient diagnosis rates, favoring widespread adoption of its genetic analysis tools in clinical settings.

Bionano Genomics, Inc. (Nasdaq: BNGO) announced significant advancements in cancer predisposition and genetic disorders using its Saphyr system. Presentations at the American Society of Human Genetics (ASHG) Annual Meeting from October 27-30, 2020, showcase 18 studies highlighting Saphyr's utility in analyzing structural variations in various diseases. CEO Erik Holmlin noted an increasing recognition of Saphyr's capabilities, potentially boosting adoption in genetic research and clinical studies.