Welcome to our dedicated page for Bionano Genomics news (Ticker: BNGO), a resource for investors and traders seeking the latest updates and insights on Bionano Genomics stock.
Bionano Genomics, Inc. (NASDAQ: BNGO) regularly issues news and updates about its genome analysis technologies, financial results and scientific collaborations. The company describes itself as a provider of optical genome mapping (OGM) solutions, diagnostic services and software that support research and clinical research applications in areas such as inherited disease, reproductive disorders, hematologic malignancies, solid tumors and rare diseases.
On this page, readers can follow Bionano’s announcements about quarterly and annual financial results, capital markets transactions, and strategic shifts in its business model. Recent press releases have discussed the company’s focus on routine users of its OGM solutions, trends in consumables and software utilization, and public offerings of common stock and warrants disclosed through SEC filings and corresponding news releases.
Bionano’s news flow also highlights scientific and clinical research progress involving OGM. The company frequently reports on studies presented at major conferences such as the American Society of Human Genetics (ASHG) and the Association for Molecular Pathology (AMP), where researchers have described OGM’s use in detecting structural variants across a range of genetic conditions. In addition, Bionano has drawn attention to peer-reviewed publications, including work from The University of Texas MD Anderson Cancer Center comparing OGM with targeted RNA-sequencing in acute leukemia.
Updates from Bionano Laboratories, the company’s CLIA-certified laboratory business, cover developments in OGM-based laboratory developed tests and reimbursement, including Category I CPT codes 81195 and 81354 for OGM applications in hematologic malignancies and constitutional genetic disease. Investors and researchers can use this news page to review BNGO’s historical and ongoing disclosures about its technology platforms, research collaborations, reimbursement milestones and financial performance.
Bionano Genomics (BNGO) announced a significant milestone with the first complete assembly of a human chromosome using its genome imaging technology, Saphyr. This assembly, detailed in a Nature publication, showcased the ability to achieve a gap-free build of the human X chromosome. Bionano's technology provided crucial structural accuracy that corrected errors in long-read sequencing data. CEO Erik Holmlin emphasized the potential of this advancement to enhance reference genomes, aiding in the discovery of new therapeutic targets and diagnostic biomarkers.
Bionano Genomics (BNGO) has reported a significant breakthrough in cytogenetic testing through its Saphyr system, achieving 100% concordance with traditional methods in a large study involving 85 samples related to constitutional genetic disorders. Novel fusion genes and mutations were discovered, underscoring Saphyr's potential to replace conventional testing methods in genetic diagnostics. Notably, Saphyr identified a 25% additional yield in unsolved rare diseases. The positive outcomes from these studies may establish Saphyr as the new standard for digital cytogenetic testing.
Bionano Genomics (NASDAQ: BNGO) reported Q1 2020 financials, revealing a total revenue of $1.1 million, down from $1.8 million in Q1 2019. The decline is attributed to lab shutdowns amid COVID-19. The company processed 416 samples in 2020, compared to 212 in 2019, and shipped 116 Saphyr instruments, with 83 installed. Operating expenses rose by 46% to $10 million. The net loss increased to $10.5 million from $7.8 million in the previous year. Cash reserves decreased to $8.1 million as of March 31, 2020. Bionano launched a global study on genomic variants related to COVID-19.
Bionano Genomics, Inc. (NASDAQ: BNGO) has announced a conference call and live webcast on June 18, 2020, at 4:30 p.m. Eastern Time. The call aims to disclose financial results for the first quarter ended March 31, 2020, and provide a business update. Bionano specializes in structural variation detection in genome analysis through its Saphyr® platform. This call will be significant for investors looking to understand the company's performance and future direction.
Bionano Genomics (BNGO) announced a delay in filing its Form 10-Q for Q1 2020 due to the COVID-19 pandemic, with plans to report financial results on June 18, 2020. The company reported preliminary revenue of $1.1 million and cash equivalents of $8.1 million as of March 31, 2020. Bionano is suspending its 2020 guidance amid uncertainties caused by the pandemic. Despite challenges, the company is experiencing increased interest in its Saphyr system, with new placements and ongoing operational capabilities. Recent highlights include fundraising and new collaborations in COVID-19 genomic studies.