Bionano Genomics, Inc. - BNGO STOCK NEWS

Bionano Genomics (BNGO) announced that CEO Erik Holmlin will present at the 42nd Annual Cowen Healthcare Conference on March 9, 2022, at 11:10 AM PT/2:10 PM ET. The presentation will provide a corporate overview and can be viewed on the company's website. Bionano is known for its optical genome mapping solutions and the N_xClinical™ software, aimed at enhancing genomic data analysis and reporting. The company's mission is to transform genome analysis in clinical research, particularly in understanding genetic conditions.

Bionano Genomics reported a remarkable 111% revenue growth for full-year 2021, totaling $18.0 million, with a 58% increase to $6.3 million in Q4. The company boasts a robust balance sheet with $250.6 million in cash as of December 31, 2021. Bionano aims for 2022 revenue between $24 million and $27 million, showcasing potential growth of 33% to 50%. Significant advancements include expanding their Saphyr system installations by 69% and enhancing software capabilities through the acquisition of BioDiscovery.

Bionano Genomics (Nasdaq: BNGO) has launched a strategic initiative focused on rare undiagnosed genetic diseases (RUGD) in recognition of Rare Disease Day. Currently, over 350 million people globally are affected by rare diseases, with about 80% attributed to genetic factors. Despite advancements in genetic testing methods, more than 50% of patients remain undiagnosed. Bionano’s initiative includes support for research, educational awareness, and a three-year financial commitment to the ACMG Foundation to expand the genetic workforce. This effort aims to enhance patient care and improve diagnosis rates for rare diseases.

Bionano Genomics (BNGO) will host a conference call on March 1, 2022, at 4:30 p.m. ET to discuss its fourth quarter and year-end 2021 financial results and share recent corporate developments. The call can be accessed via toll-free and international dial-ins, with a conference ID of 8795841. An archived version of the webcast will be available in the Investors section of the company's website. Bionano focuses on genome analysis, providing solutions and diagnostic services for biology and medicine.

Bionano Genomics announced a peer-reviewed study showcasing its Optical Genome Mapping (OGM) as a superior method for analyzing acute myeloid leukemia (AML) and myelodysplastic syndrome (MDS). The research, published in the International Journal of Cancer, found that OGM detected 31% more European Leukemia Net abnormalities and 35% more cases than traditional methods like karyotyping and FISH. Moreover, OGM's cost-effectiveness was highlighted, equating to two FISH probes.

CEO Erik Holmlin emphasized OGM's potential in routine diagnostics, aiming for improved clinical outcomes.

Bionano Genomics, Inc. (BNGO) announced the appointment of Helene Klein as its chief people officer on February 14, 2022. This strategic move aims to enhance the company's leadership and maintain a strong organizational culture during its expansion. Klein, who previously served at Beachbody Company, brings 14 years of experience where she significantly grew the workforce and revenue. At Bionano, she will lead human resources and drive diversity, equity, and inclusion initiatives to support the company's growth.

Bionano Genomics announced a novel workflow using optical genome mapping (OGM) that achieves a 93% success rate in analyzing fetal tissue, significantly higher than the 9.6% success rate of traditional methods like karyotyping (KT). This innovative approach eliminates the need for cell culture, addresses common failures in POC sample analysis, and enhances the identification of genetic abnormalities. The study's findings, published in medRXiv, indicate OGM can improve outcomes for parents facing pregnancy loss.

Bionano Genomics (BNGO) has announced that Erik Holmlin, PhD, its CEO, will present virtually at the BTIG MedTech, Digital Health, Life Science & Diagnostic Tools Conference on February 16, 2022, at 2:30 pm ET. The event is tailored for BTIG clients. Bionano specializes in optical genome mapping solutions and offers N_xClinical™, a leading genomic data software. Their mission is to enhance genome visibility through innovative solutions and diagnostic services, including applications in clinical research and autism spectrum disorder diagnostics.

Bionano Genomics (BNGO) announced the adoption of its Saphyr system by two genetics laboratory hubs in the UK's National Health Service (NHS) - Newcastle upon Tyne and Birmingham Women’s and Children’s Trusts. This adoption aims to evaluate optical genome mapping (OGM) versus traditional cytogenetic methods, enhancing BNGO's presence in the UK market. Previous placements in Belfast and London underscore growing interest. The OGM's potential lies in improving efficiency and detection capabilities for hematologic malignancies and other conditions, as mentioned by NHS leaders.