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) has adjourned its Special Meeting of Stockholders to November 27, 2024, due to insufficient quorum. Only 30.7% of total shares were voted, falling short of the required 33.3% quorum. Of the votes submitted, 76.3% were in favor of the proposal regarding the issuance of common stock upon warrant exercise.
The voting polls will remain open until November 26, 2024. CEO Erik Holmlin emphasized the need for approximately 2.2 million additional votes to reach quorum, warning that failure to approve the proposal could adversely affect the company's ability to raise capital and impact its viability.
Bionano Genomics (BNGO) has announced a $3 million registered direct offering priced at-the-market. The company will sell 9,881,113 shares of common stock along with Series C and Series D warrants at $0.3039 per share. The warrants will have the same exercise price, potentially providing additional gross proceeds of $6 million if fully exercised. Series C warrants expire in 5 years and Series D warrants in 18 months after stockholder approval. H.C. Wainwright & Co is acting as the exclusive placement agent. The proceeds will be used for general corporate purposes, including working capital, R&D, debt repayment, and capital expenditures.
Bionano Genomics (BNGO) announced a publication in Blood Cancer Journal highlighting the effectiveness of Optical Genome Mapping (OGM) in detecting MYC gene rearrangements in multiple myeloma (MM). The study, conducted by researchers at Korea College of Medicine, demonstrated that OGM identified MYC-positive cases in 40% of samples, compared to 26% with FISH and 13% with karyotype methods. The research emphasizes OGM's superior ability to resolve translocation partners and provide comprehensive genome variation analysis, potentially streamlining workflow and improving cost efficiency in MM diagnosis and research.
Bionano Genomics (Nasdaq: BNGO) has announced preliminary results for Q3 2024. The company expects revenue to be between $6.5 and $6.8 million, down from previous guidance of $7.9 to $8.9 million. As of September 30, 2024, cash, cash equivalents, available-for-sale securities, and restricted cash were approximately $23.3 million, with $11.4 million subject to restrictions.
CEO Erik Holmlin attributed the lower revenue to a strategic shift towards a more capital-efficient business model, focusing on driving utilization and adoption of OGM from the existing installed base, rather than new system placements. The company also cited continued headwinds in the capital equipment sector for tools and diagnostics.
Despite these challenges, Bionano reports positive momentum in the routine use of OGM and anticipates growth in its core business, particularly in the US, Canada, Europe, and Israel.
Bionano Genomics (Nasdaq: BNGO) has adjourned its Special Meeting of Stockholders due to lack of quorum. Only 22.5% of total shares were represented, falling short of the required 33.3%. Of the votes submitted, 74.5% were in favor of the proposal. The meeting is rescheduled for October 30, 2024, with voting polls open until October 29. The proposal seeks stockholder approval for issuing common stock upon warrant exercise.
CEO Erik Holmlin emphasized the importance of increased stockholder participation, urging shareholders to vote 'For' the proposal. He warned that failure to approve could adversely affect the company's ability to raise capital and potentially impair its operations and viability.
Bionano Genomics (Nasdaq: BNGO) has announced that its CEO, Erik Holmlin, will present at the H.C. Wainwright 26th Annual Global Investment Conference on September 9th, 2024. The presentation is scheduled for 11:00 a.m. to 11:30 a.m. ET.
Investors and interested parties can register for the webcast through a provided link. A replay of the session will be available on the Bionano website at ir.bionano.com for at least 30 days following the conference, allowing those unable to attend live to catch up on the company's latest updates and strategic insights.
This presentation at a major investment conference suggests that Bionano Genomics is actively engaging with the investment community, potentially signaling important company developments or seeking to raise its profile among investors.
Bionano Genomics reported Q2 2024 results with revenue of $7.8 million, a 10% decrease from Q2 2023. The installed base of optical genome mapping (OGM) systems grew 29% year-over-year to 363. However, flowcell sales decreased 13% to 6,165 units. A significant milestone was achieved with the establishment of a Category I CPT code for OGM in hematological malignancies. The company completed a $30 million offering and retired $15.3 million in convertible notes. Bionano maintained its full-year 2024 revenue guidance of $36-40 million. The company is focusing on strengthening long-term growth and prioritizing efficiencies in a lower resource environment.
Bionano Genomics (Nasdaq: BNGO) announced its participation in the Cancer Genomics Consortium (CGC) 2024 Annual Meeting, showcasing the utility of optical genome mapping (OGM) in cancer research. The event features:
1. A sponsored session by Dr. Phillip Michaels presenting results from a multi-site study comparing OGM to classical cytogenetic methods for hematological malignancies.
2. Two scientific presentations on OGM applications in blood cancer research.
3. Three posters displaying OGM results in hematological malignancies and solid tumor research.
The presentations highlight OGM's potential benefits in sensitivity, workflow efficiency, and genome-wide structural variant detection for cancer research applications.
Bionano Genomics (Nasdaq: BNGO) has announced that its CEO, Erik Holmlin, will be presenting at the Canaccord Genuity 44th Annual Growth Conference on August 13, 2024. The presentation is scheduled for 3:30 p.m. to 3:55 p.m. ET.
Interested parties can register for the webcast through a provided link. For those unable to attend live, a replay of the session will be available on the Bionano website at https://ir.bionano.com/ for at least 30 days following the conference.
This presentation offers an opportunity for investors and analysts to gain insights into Bionano's growth strategies and recent developments in the genomics field.
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.