Bionano Genomics Inc Stock Price, News & Analysis

Bionano Genomics (Nasdaq: BNGO) has announced that it will host a conference call and live webcast on Wednesday, August 7, 2024, at 4:30 p.m. Eastern Time to report financial results for the second quarter of 2024 and highlight recent corporate progress. The company has provided details for participants to access the call and webcast. A replay of the conference call and webcast will be archived on Bionano's investor relations website for at least 30 days. This announcement serves as a notice to investors and analysts interested in the company's financial performance and recent developments.

Bionano Genomics (Nasdaq: BNGO) announced the publication of the first multi-site study comparing optical genome mapping (OGM) to traditional cytogenetic methods for detecting structural variants in multiple myeloma (MM). The study, conducted by researchers at UT MD Anderson Cancer Center and Johns Hopkins Hospital, analyzed 45 plasma cell neoplasm samples using various methods.

Key findings include:

• OGM achieved 100% sensitivity, specificity, and accuracy in CD138 selected cases
• OGM detected high-risk factors and rearrangements undetected by FISH
• In 18% of cases, OGM changed prognostication beyond standard cytogenetics/FISH analysis
• OGM identified 366 novel structural variants potentially relevant to MM development

The study highlights OGM's potential to provide researchers with comprehensive genome-wide analysis in MM, potentially leading to greater adoption in cancer research labs.

Bionano Genomics (Nasdaq: BNGO) has closed a registered direct offering, priced at-the-market under Nasdaq rules, raising $10 million upfront. An additional $20 million may be raised through the exercise of Series Warrants tied to clinical milestones. The offering consisted of 17,513,136 shares of common stock at $0.571 per share. Concurrently, Bionano issued Series A and B warrants, also priced at $0.571 per share, which are exercisable upon stockholder approval. The Series A warrants expire within 24 months or 60 days after achieving specific medical contractor coverage, while the Series B warrants expire within five years or six months after FDA clearance for an optical genome mapping system. The proceeds will be used for general corporate purposes, including R&D, debt repayment, and capital expenditures. The placement agent for this offering was H.C. Wainwright & Co.

Bionano Genomics (Nasdaq: BNGO) announced a registered direct offering priced at-the-market under Nasdaq rules, raising approximately $10 million upfront with the potential for an additional $20 million from the exercise of clinical milestone-linked warrants. The offering includes 17,513,136 shares of common stock at $0.571 per share. Additionally, unregistered Series A and Series B warrants will be issued, which could potentially bring in more funds upon specific milestone achievements and stockholder approval. The company plans to use the proceeds for general corporate purposes, including R&D and debt repayment. The offering is expected to close around July 8, 2024.

Bionano Genomics (Nasdaq: BNGO) has announced its participation in the International Society for Stem Cell Research (ISSCR) Annual Meeting 2024. The event will be held from July 10-13 in Hamburg, Germany, focusing on the use of optical genome mapping (OGM) in stem cell therapy research, development, and manufacturing. A sponsored session, featuring experts Dr. Lucia Gallego Villarejo, Dr. Jeanne Loring, and Dr. Alicia Bertolotti, will discuss OGM's role in assessing genome integrity and off-target events in engineered cells. Two scientific posters by Dr. Alex Hastie and Alex Chitsazan will showcase OGM's applications in cell manufacturing and bioprocessing.

Bionano Genomics (Nasdaq: BNGO) has entered a software marketing agreement with Revvity (NYSE: RVTY) to market and commercialize Bionano’s VIA™ software as part of Revvity’s newborn sequencing research workflow.

VIA will enhance Revvity's sequencing solution by adding copy number variation (CNV) assessment and streamlining workflow interpretation. The end-to-end workflow includes DNA extraction, sample quality control, automated library preparation, sequencing, and cloud-based data management using systems from Element Biosciences or Illumina.

Bionano CEO Erik Holmlin emphasized the company's focus on transforming genome visualization and interpretation, supporting global adoption of next-generation sequencing solutions in newborn research.

Bionano Genomics (NASDAQ: BNGO) has announced its active participation in the 2024 European Society for Human Genetics (ESHG) Annual Conference and the 2024 American Cytogenomics Conference (ACC), featuring 39 scientific presentations and posters.

These contributions will demonstrate the application of Bionano's Optical Genome Mapping (OGM) in genetic disorder, rare disease, and cancer research. Highlights include a session at ESHG presenting the OGM workflow, innovations such as the Stratys system and VIA software, and case studies on hereditary angioedema, structural variants in rare diseases, and multiple myeloma.

Key presentations at ACC will focus on OGM's role in enhancing detection of pathogenic variants and advancing genetic disease research. The sessions will cover the latest updates in the OGM workflow, aiming to improve sample-to-answer time and structural variant detection.

Bionano Genomics (NASDAQ: BNGO) announced a private placement of senior secured convertible debentures due May 24, 2026, raising $18 million.

This financing will retire previous convertible debt from October 2023 and February 2024, strengthening the company's capital structure, liquidity, and ability to drive adoption of optical genome mapping while reviewing strategic alternatives to maximize shareholder value.

Canaccord Genuity acted as an exclusive financial advisor and placement agent for the offering. The securities were not registered under the Securities Act and are restricted from public offering within the United States.

Bionano Genomics, stock symbol BNGO, announced three new studies that support the use of Optical Genome Mapping (OGM) in cell and gene therapy development. These studies demonstrate OGM's ability to detect genome integrity and structural variations in therapeutic cell lines like CAR-T cells, stem cells, and hiPSCs. The first study from Niño Jesús University Children's Hospital showed OGM's efficacy in assessing genotoxicity in CAR-T cells. The second study from Ruhr-University Bochum demonstrated OGM's utility in evaluating genome integrity post-CRISPR/Cas9 editing for Alzheimer's research. The third study from Janssen explored OGM's role in confirming the absence of off-target effects in stem cells edited for the APOE genotype, associated with Alzheimer's disease.