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. reports developments in genome analysis solutions built around optical genome mapping (OGM), diagnostic services, software and nucleic acid extraction technologies. Company updates commonly address OGM applications in cytogenetics, rare disease research, hematologic malignancies, reproductive disorders and other genomic-analysis workflows, including published studies comparing OGM with karyotyping, FISH, chromosomal microarrays, next-generation sequencing and long-read sequencing.
Recurring news also covers financial results, revenue outlooks, scientific-meeting presentations, Bionano Symposium activity, use of VIA™ software, the Ionic® system and Bionano Laboratories diagnostic testing services. Governance updates include board and executive leadership changes at the Nasdaq-listed life sciences instrumentation company.
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.