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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) announced three peer-reviewed publications validating optical genome mapping (OGM) as a superior alternative to traditional cytogenetic methods for analyzing hematological malignancies. The studies indicate that OGM demonstrates high concordance rates with traditional methods, revealing additional relevant genetic variants that could influence clinical decisions. Key findings include:
- 91% concordance in acute myeloid leukemia (AML) and 83% in myelodysplastic syndrome (MDS).
- OGM's detection threshold can be lowered to 1-2% variant allele fraction.
- OGM provides results in 4 days without cell culture.
The research highlights OGM's potential for enhanced patient management and risk assessment, positioning it as a first-tier cytogenetic testing option.
Bionano Genomics (Nasdaq: BNGO) announced preliminary financial results for Q1 2023, predicting total revenues between $7.3 million and $7.5 million, reflecting a 28% to 32% increase from Q1 2022. The installed base of Saphyr® systems grew to 259, marking a 47% year-over-year rise, with an increase of 19 systems in the quarter. Additionally, 5,226 nanochannel array flowcells are expected to be sold, indicating a 62% growth over the previous year. Bionano has decided to withdraw its applications for Category I CPT codes for optical genome mapping (OGM) to avoid potential assignment of less favorable Category III codes. This quarter marks the 10th consecutive quarter of revenue growth, with a revenue guidance of $35 million to $38 million for the full year 2023.
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