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. 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.
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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.
Bionano Genomics (Nasdaq: BNGO) announced its participation in the American Association for Cancer Research (AACR) Annual Meeting 2023, taking place from April 14-18, 2023, in Orlando, Florida. The company will showcase the utility of optical genome mapping (OGM) in cancer research through various presentations and scientific posters. Notably, experts, including Dr. Ben Finlay, Dr. Marc Henri Stern, and Dr. Rashmi Kanagal-Shamanna, will present on the applications of OGM in analyzing tumor biopsies, identifying biomarkers, and exploring treatment approaches for leukemia. The conference will facilitate discussions among industry and academic professionals on advances in cancer science.
Bionano Genomics announced a significant study publication from Radboud University Medical Center that showcases the effectiveness of optical genome mapping (OGM) in identifying gene-disruptive structural variants (SVs) associated with inherited retinal diseases (IRDs). This research revealed a large inversion impacting the USH2A gene, previously disregarded by next-generation sequencing (NGS) as a false positive. The study found that OGM could improve SV detection and identified 30 likely pathogenic SVs in 427 IRD cases. 8 of these variants were previously overlooked. Bionano's CEO, Erik Holmlin, highlighted the importance of OGM in genetic research, particularly in complex disorders, emphasizing its ability to enhance diagnosis and treatment prospects.