Bionano Genomics, Inc. - BNGO STOCK NEWS

Bionano Genomics (Nasdaq: BNGO) announced a study validating optical genome mapping (OGM) for identifying homologous recombination deficiency (HRD) in breast cancer samples. Published research indicates that OGM detected HRD effectively, showcasing superior sensitivity compared to whole genome sequencing (WGS). The study, conducted by Institut Curie on 15 triple negative breast carcinoma samples, highlights OGM's potential for capturing significant genomic alterations that WGS may miss. This advancement may enable better patient selection for PARP inhibitor treatments, potentially enhancing therapeutic outcomes.

Bionano Genomics (BNGO) will host its 2023 Symposium from January 23-26, focusing on optical genome mapping (OGM) applications in genetic diseases and cancer. Over 25 global researchers will present innovations and findings in four thematic areas: oncology, constitutional genetic diseases, and cell bioprocessing. The event aims to enhance understanding of genomic analysis tools and their integration into clinical research. Registration for the virtual symposium is free and open to all interested participants.

Bionano Genomics (BNGO) announced its inaugural Strategy Day on February 2, 2023, at the Nasdaq MarketSite in New York City, starting at 1:30 PM ET. The event will showcase presentations from the leadership team and discussions with key opinion leaders in cancer and genetic disorders. A Q&A session will follow, allowing audience interaction. A live webcast will be available for registration through the company's website. Bionano focuses on genome analysis solutions, enhancing research in biology and medicine.

Bionano Genomics (BNGO) reported preliminary financial highlights for Q4 and full year 2022, expecting revenues between $8.1 million and $8.4 million, marking a 29% to 33% increase year-over-year. The installed base of Saphyr systems reached 240, a 46% jump from 2021. Overall, 2022 revenues are estimated at $27.7 million to $28 million, representing a 54% to 56% increase. The company achieved all its 2022 milestones, including launching new OGM laboratory tests and enhancing its DNA sample preparation workflow.

Bionano Genomics (BNGO) announced a peer-reviewed study recommending optical genome mapping (OGM) as a first-line analysis for acute myeloid leukemia (AML). Conducted by eight research institutes, the study found OGM to be superior and more cost-effective than traditional methods like karyotyping. Key findings included a 100% concordance with these methods, and OGM identified pathogenic variants in 12% of cases, which could alter risk levels or clinical trial eligibility. The results support OGM's potential as a standard of care for cytogenomic evaluation in AML.

Bionano Genomics (Nasdaq: BNGO) announced its participation in the ASH Annual Meeting from December 10-13, 2022, in New Orleans, Louisiana. The event will showcase the potential of optical genome mapping (OGM) technology in myeloid cancer and hematological research. Notable presentations include a workshop led by Dr. Rashmi Kanagal-Shamanna and four scientific posters focused on OGM applications in major blood disorders. The company’s CEO expressed enthusiasm about the growing adoption of OGM among researchers.

Bionano Genomics, Inc. (NASDAQ: BNGO) has announced a definitive agreement to acquire Purigen Biosystems, Inc. for up to $64 million. This acquisition includes the Ionic® Purification System and proprietary isotachophoresis (ITP) technology for improved nucleic acid isolation and purification, aimed at enhancing the optical genome mapping (OGM) process. The transaction is anticipated to close by December 8, 2022. Bionano expects the integration of Purigen's technology to simplify workflows and expand its sample prep capabilities, potentially accelerating OGM adoption in various research areas.

Bionano Genomics has appointed Donna Polizio as its global head of market access, enhancing its leadership team. Polizio, previously a vice president at Genomic Health, will focus on promoting optical genome mapping (OGM) adoption and securing reimbursement for OGM-based tests, particularly in the U.S. She brings extensive experience in diagnostics and reimbursement strategies. Bionano's CEO, Erik Holmlin, expressed confidence that Polizio's expertise will aid in advancing the company's goals, particularly in achieving better reimbursement pathways for OGM diagnostics.

Bionano Genomics (BNGO) reported impressive Q3 2022 results, achieving 55% year-over-year revenue growth to $7.2 million, the highest in company history. The installed base of Saphyr systems grew to 217, marking an 11% increase from Q2 2022. The company increased cash reserves to $180.2 million and remains on track to meet its ELEVATE! milestones. Gross margin improved to 25% due to enhanced production yields. The fourth-quarter revenue guidance is set between $7.5 million and $8 million. A dedicated session on genome mapping at ASHG reflects OGM's rising prominence.