Bionano Genomics Inc Stock Price, News & Analysis

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.

Bionano Genomics announced Dr. Erich Jarvis as a co-principal investigator for the COVID-19 Host Genome SV Consortium. This partnership aims to analyze structural variants in genomes to identify COVID-19 risk markers and treatment methods. The study compares genomes of sensitive animal species and human patients who suffered severe COVID-19 against those resistant to the virus. Bionano's Saphyr system is central to generating precise genome assemblies critical for this research, potentially leading to improved treatments and vaccines.

Bionano Genomics (NASDAQ: BNGO) has announced a significant update to its Saphyr software tools for genomic analysis, enhancing capabilities in structural variation detection. The update includes over 100 new features to improve workflow efficiency, with new functionalities designed for clinical labs tackling genetic diseases and cancers. Notably, these improvements aim to increase the adoption of Saphyr technology in approximately 2,500 cytogenetics labs globally. The update is available as a free download and is expected to facilitate accelerated development of diagnostic tests.

Bionano Genomics (Nasdaq: BNGO) announced the publication of a study demonstrating the effectiveness of its Saphyr System in identifying complex structural variants linked to common genetic disorders, including microdeletion syndromes. Conducted in collaboration with UCSF and the University of Colorado, the research highlighted Saphyr's ability to analyze segmental duplications that traditional sequencing methods cannot address. The study revealed novel disease-causing variations, allowing for enhanced understanding and potential improvements in clinical management of these genetic conditions.

Bionano Genomics (NASDAQ: BNGO) will host a conference call on November 12, 2020, to report third-quarter financial results for the period ending September 30, 2020. CEO Erik Holmlin will discuss business updates and the integration of Lineagen, highlighting its strategic importance. Preliminary revenue estimates for Q3 are projected between $1.9 million and $2.3 million, aligning with analyst expectations. The company specializes in genome analysis and provides diagnostic services for pediatric neurodevelopmental disorders.

Bionano Genomics announced a pivotal study published in Cell identifying three new classes of DNA structural variations linked to poor outcomes in several cancers. Utilizing the Saphyr system, researchers characterized these variations, aiding the understanding of aggressive tumor growth. The findings suggest these variations may serve as therapeutic targets and prognostic biomarkers for cancer progression. Bionano's technology provides high-resolution genomic insights, enhancing cancer diagnostics and potential therapeutic developments, while enabling the analysis of large sample sets.