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) 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.
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.