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) is a pioneering company in the life sciences instrumentation sector, dedicated to advancing genome biology understanding through innovative solutions. The company is renowned for its development and marketing of the Saphyr™ system, an ultra-sensitive platform designed for structural variation detection. This system enables researchers and clinicians to accelerate diagnostics and therapeutic target discovery, streamlining studies on chromosomal changes.
Bionano's core mission is to transform genomic analysis through optical genome mapping (OGM) solutions, diagnostic services, and software. Their flagship product, Saphyr™, offers unmatched capabilities in structural variation discovery and the ability to construct comprehensive genome assemblies. This technology is crucial for applications in cancer research, human disease studies, agricultural bioengineering, and genome discovery.
Recent achievements include the detection of unique structural variations and gene fusions in blood cancer samples, underscoring OGM's potential as a complement to traditional sequencing methods. Bionano's OGM technology has shown superior sensitivity and resolution in various studies, highlighting its utility in pediatric leukemia and other cancers.
The company operates globally with significant revenue from the Americas, and it generates product revenue from the sales of OGM and Ionic Purification systems and consumables. Bionano also offers diagnostic testing for neurodevelopmental disabilities through its Lineagen, Inc. d/b/a Bionano Laboratories business and industry-leading genome analysis software that integrates next-generation sequencing and microarray data.
Partnerships with AI-driven companies like Diagens further enhance Bionano's offerings, aiming to improve reproductive health and other clinical applications. Additionally, Bionano continuously upgrades its VIA software and Bionano Solve pipeline to provide researchers with precise and sensitive genomic research tools.
For more information, visit Bionano Genomics and its associated websites, www.bionanolaboratories.com and www.purigenbio.com.
Bionano Genomics (BNGO) has announced a 1-for-60 reverse stock split of its common stock, effective at 5 p.m. ET on January 24, 2025. Trading on a split-adjusted basis will begin on January 27, 2025. The split was approved by stockholders at a special meeting on January 15, 2025, where the Board was authorized to implement a ratio between 1-for-25 and 1-for-75.
The reverse split will automatically convert every 60 existing shares into one new share. The stock will continue trading under the symbol 'BNGO' on Nasdaq Capital Market but with a new CUSIP number (09075F404). The split proportionally affects all outstanding convertible debentures, stock options, restricted stock units, and warrants, adjusting their conversion and exercise prices accordingly. No fractional shares will be issued; instead, affected stockholders will receive cash payments.
Bionano Genomics (BNGO) announced a breakthrough case study from Shenzhen Maternity and Child Healthcare Hospital, demonstrating the successful application of their optical genome mapping (OGM) technology in preimplantation genetic testing. The study showcases how OGM identified complex chromosomal rearrangements (CCRs) that were missed by traditional cytogenetic methods in a male partner of a couple experiencing recurrent pregnancy loss (RPL).
Using OGM as part of an in-vitro fertilization (IVF) and preimplantation genetic testing protocol, doctors were able to select the most viable embryo, resulting in a successful pregnancy and the birth of a healthy baby. This achievement is particularly significant as RPL affects millions worldwide, and infertility impacts 1 in 6 couples.
Bionano Genomics (Nasdaq: BNGO) reported preliminary unaudited financial results for Q4 and FY 2024. Q4 2024 revenue is expected to be between $7.9 and $8.1 million, a decrease of approximately 25% compared to Q4 2023, due to discontinuation of clinical service products. However, this represents a 30-33% increase from Q3 2024. The installed base of optical genome mapping (OGM) systems reached 371, a 14% increase over 2023. The number of nanochannel array flowcells sold in Q4 2024 is expected to be 8,058, a 1% increase over Q4 2023. Full-year 2024 revenue is projected to be between $30.5 and $30.7 million, a decrease of approximately 15% from 2023.
Bionano highlighted significant milestones, including the full commercial release of the high-throughput Stratys™ system and advancements in their VIA™ software. Cash, cash equivalents, and available-for-sale securities as of December 31, 2024, were approximately $20.9 million, with $11.4 million subject to restrictions. The company raised net proceeds of $3.6 million from ATM sales in Q4 2024 and $1.9 million in early 2025, along with $10.0 million from a registered direct offering. Bionano also modified its senior secured convertible debentures to defer payments and reduce monthly obligations.
Bionano Genomics announced a publication from Johns Hopkins University demonstrating that optical genome mapping (OGM) can identify structural variants in acute promyelocytic leukemia (APL) that conventional cytogenetic techniques often miss.
The case study showed that OGM detected a PML::RARA fusion variant, which was not identified by karyotyping and non-informative by FISH. This fusion is significant as APL, an aggressive subtype of acute myelogenous leukemia (AML), responds well to treatments like all-trans retinoic acid (ATRA) and arsenic trioxide (ATO). However, about 13% of APL cases are not properly identified by conventional methods, potentially hindering effective treatment.
OGM's ability to detect these variants aligns with previous findings, suggesting it could be a more reliable alternative for guiding therapy selection and patient management. Bionano's CEO, Erik Holmlin, emphasized that OGM's higher resolution and streamlined workflow make it a promising tool for improving treatment decisions in blood cancer cases.
Bionano Genomics (BNGO) has completed its previously announced registered direct offering, raising $10 million through the sale of 39,682,540 shares of common stock and warrants. The combined offering was priced at $0.252 per share, with accompanying warrants exercisable at the same price following stockholder approval.
The warrants, if fully exercised, could generate an additional $10 million in gross proceeds and will expire five years after stockholder approval. H.C. Wainwright & Co. served as the exclusive placement agent. The company plans to use the net proceeds for general corporate purposes, including working capital, R&D expenses, debt repayment, and capital expenditures.
Bionano Genomics (BNGO) has announced a $10 million registered direct offering priced at-the-market under Nasdaq rules. The company will sell 39,682,540 shares of common stock (or equivalents) and warrants at a combined price of $0.252 per share. The warrants, matching the number of shares, will have an exercise price of $0.252 and a five-year term, becoming exercisable upon stockholder approval.
The offering is expected to close around January 6, 2024, with H.C. Wainwright & Co. serving as the exclusive placement agent. If all warrants are exercised, the company could receive additional gross proceeds of approximately $10 million. The net proceeds will be used for general corporate purposes, including working capital, R&D expenses, debt repayment, and capital expenditures.
Bionano Genomics (BNGO) has amended its senior secured convertible debentures due May 26, 2024, implementing significant debt restructuring changes. The amendment includes:
- Deferral of December 2024 amortization payment
- Reduction of monthly payments from $1,000,000 to $500,000 for January-July 2025
- Increase in monthly payments to $1,375,000 starting August 2025
- Lowering of conversion price from $2.00 to $0.27
As part of the agreement, BNGO will issue 5,000,000 shares of common stock to debt holders. The restructuring aims to improve near-term liquidity and strengthen the company's capital structure to support optical genome mapping adoption.
Bionano Genomics (BNGO) announced a significant publication in Modern Pathology by Johns Hopkins researchers, demonstrating that Optical Genome Mapping (OGM) outperformed traditional cytogenetic techniques in bone and soft tissue tumor analysis. The study showed that OGM achieved 100% concordance with conventional methods while detecting additional pathogenic variants in 74% of cases that failed or were negative by karyotyping.
The research revealed that combining OGM with next-generation sequencing (NGS) detected pathogenic variants in approximately 98% of cases, significantly higher than traditional methods. OGM successfully resolved complex cancer genomes and identified variants that could qualify patients for targeted therapies, including CDK4/6 inhibitors and TRK inhibitors.
Bionano Genomics (BNGO) has announced the publication of a stockholder letter supporting its proposals for an upcoming special meeting. The virtual meeting is scheduled for January 15, 2025, at 10:00 a.m. Pacific Time. Stockholders of record as of November 21, 2024, are eligible to vote either during the meeting or by proxy through telephone, internet, or using the Notice of Internet Availability of Proxy Materials. The company's proxy statement containing detailed voting procedures was filed with the SEC on December 5, 2024.
Bionano Genomics (BNGO) announced thirteen scientific posters featuring Optical Genome Mapping (OGM) applications will be presented at the American Society of Hematology (ASH) Annual Meeting 2024. The presentations focus on OGM's utility in research areas including myeloid cancer, hematological malignancy, leukemia, and blood disorders.
Three of the posters were presented in sessions dedicated to Acute Myeloid Leukemias (AML) and Acute Lymphoblastic Leukemia (ALL) clinical research applications. The presentations cover various applications, including bioprocessing quality control for CRISPR/Cas edited cells in CAR-T therapy. The conference is being held December 7-10, 2024, in San Diego, California and online.
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