Bionano Genomics Inc Stock Price, News & Analysis

Bionano Genomics (BNGO) announced its involvement in the ACMG Annual Meeting 2023, showcasing the significance of optical genome mapping (OGM) in genetics. CEO Dr. Erik Holmlin will present at the awards ceremony on March 15, alongside Dr. Bruce Korf, to honor LGG award recipients. The conference will feature key sessions on OGM's utility in detecting structural variants and its application in prenatal and postnatal analysis. Notable research presentations will include comparisons of OGM to traditional methods. The event highlights Bionano's commitment to advancing genetic disease research and supporting future leaders in the genomics field.

Bionano Genomics reported Q4 2022 revenue of $8.2 million, a 30% increase from Q4 2021. The total revenue for 2022 reached $27.8 million, marking a 55% increase over 2021. The company installed 240 Saphyr® systems by year-end, a 46% rise from 2021. Key validations showing optical genome mapping's (OGM) effectiveness for prenatal and postnatal genetic disorders were published. Full-year 2023 revenue is forecasted between $35 million and $38 million, indicating growth of 26% to 37% from 2022. However, operating expenses surged, with Q4 2022 GAAP operating expenses at $39.3 million.

Bionano Genomics (BNGO) announced two publication results from its clinical trial evaluating optical genome mapping (OGM) for diagnosing genetic disorders in postnatal patients. The peer-reviewed study revealed a 99.5% concordance rate of OGM against standard care methods and a 90.2% first-pass success rate. A subsequent preprint further confirmed a 99.6% overall concordance with 560 additional samples. Notably, OGM showed a 42% increase in reportable findings for genetic disorders and a 32% increase for autism spectrum disorders. The findings position OGM as a potential standard in genetic diagnosis, offering improved efficiency and accuracy.

Bionano Genomics, Inc. (BNGO) will host a conference call on March 9, 2023, at 4:30 p.m. EST to discuss its financial results for Q4 and year-end 2022, alongside recent corporate achievements. Interested participants can join via a live webcast on the company's investor page or by registering for a dial-in number and passcode.

For those unable to attend live, a replay will be available on the investor relations website for at least 30 days. Bionano is focused on advancing genomic solutions, making this update critical for investors tracking its financial performance and strategic direction.

Bionano Genomics (Nasdaq: BNGO) announced its participation at the 43rd Annual Cowen Healthcare Conference. Erik Holmlin, Ph.D., the company's president and CEO, will present a corporate overview on March 6th, 2023, at 1:30 pm ET. The presentation will be available via a live webcast accessible on Bionano’s Investors website.

Bionano Genomics announced that its OEM partner, Beijing Genome Precision Technology (BGPT), has received Class I registration approval from China’s National Medical Products Administration (NMPA) for DNA isolation and labeling kits. The approved reagents are intended for in vitro diagnostics in hematologic malignancies and will allow BGPT to sell optical genome mapping (OGM) reagents to independent clinical laboratories while pursuing approval for Bionano's Saphyr® system. This development is expected to facilitate sales and placements of Bionano's instruments and reagents in China, enhancing its market presence.

Bionano Genomics, Inc. (Nasdaq: BNGO) presented advancements in optical genome mapping (OGM) during the AGBT 2023 workshop, emphasizing its potential to replace traditional methods for structural variant (SV) detection. Collaborating with NVIDIA, they showcased a new compute solution for high-throughput OGM analysis. Key presentations highlighted OGM's effectiveness in identifying undetected SVs relevant to rare diseases. Additionally, Bionano launched the Innovator Research Grant to promote research utilizing OGM technology. These developments aim to enhance genome analysis resolution and sensitivity in clinical and translational research.

Bionano Genomics, Inc. (BNGO) held its inaugural Strategy Day on February 2, 2023, at the Nasdaq MarketSite in New York City, featuring key executives discussing growth strategies, financial goals, and product development. The event included panels with experts in optical genome mapping (OGM), focusing on its applications in cancer and genetic disease research. Bionano aims to enhance cytogenetic analysis through OGM, targeting segments like cell bioprocessing and cancer research. The company is working on product launches and strategies to increase OGM adoption, with a focus on regulatory approvals and reimbursement for OGM-based tests.

Bionano Genomics recently concluded its 2023 Symposium, featuring over 3,000 registrants from 114 countries. Average daily attendance rose by 32% to 750 participants. The event included 31 oral presentations and 69 scientific posters highlighting the advancements of optical genome mapping (OGM) in genetic disease and cancer research. Key discussions emphasized OGM's ability to identify pathogenic variants overlooked by traditional methods, outperform legacy techniques, and streamline workflows. Presenters showcased how OGM enhances sample analysis and offers significant cost efficiencies, positioning it as a transformative tool in genomic research.