Bionano Genomics, Inc. - BNGO STOCK NEWS

Bionano Genomics reported a record total revenue of $4.7 million for Q3 2021, marking a 112% year-over-year increase due to growth in Saphyr installations. The company acquired BioDiscovery to enhance its position as a data solutions provider and is on track to meet its remaining 2021 milestones. Notable achievements include the shipment of 24 Saphyr systems and the sale of 3,969 flow cells, both record numbers. Despite operating expenses increasing to $21.8 million, Bionano maintains a strong balance sheet with $326.1 million in cash and investments.

Bionano Genomics (BNGO) announced the addition of two former Illumina executives, Stephanie Hoyle and Alex Helm, as vice presidents of Corporate Marketing and Strategic Product Marketing, respectively. Together, they bring 22 years of genomics experience and 36 years of marketing expertise. Hoyle will oversee global marketing, while Helm will develop the company's product roadmap. CEO Erik Holmlin expressed excitement over their appointments, aiming to enhance customer experience and improve health outcomes.

Bionano Genomics (BNGO) has announced significant updates to its software solutions, Bionano Solve™ version 3.7 and Bionano Access™ version 1.7, enhancing the capabilities of its Saphyr^® system. The updates improve variant detection for inherited genetic diseases and cancer, introducing new functionalities for clinically-relevant variants like absence of heterozygosity (AOH) and allelic imbalance. Additionally, the launch of EnFocus™ targeted analysis panels now includes Fragile X testing to streamline analytical workflows, aiming to support clinical research and facilitate data interpretation.

Bionano Genomics (Nasdaq: BNGO) announced the grant of non-qualified stock options under its 2020 Inducement Plan to new employees including Chief Informatics Officer Soheil Shams, who received options for 400,000 shares. An additional 18 employees received options for a total of 454,000 shares linked to Bionano’s acquisition of BioDiscovery, Inc. All options will vest over four years, starting with 25% at one year from the vesting commencement date of October 18, 2021. The exercise price for the options is set at $5.40 per share, matching the closing stock price on November 1, 2021.

Bionano Genomics (BNGO) will hold a conference call and live webcast on November 4, 2021, at 4:30 p.m. ET to discuss its third-quarter financial results for the period ending September 30, 2021. The event will cover recent corporate progress. Participants can join by using the toll-free number 1-877-407-0784 or the international number 1-201-689-8560, entering Conference ID 13724790. An archived version of the webcast will be available on the Bionano website.

Bionano Genomics (BNGO) announced significant advancements in optical genome mapping (OGM) at the American Society of Human Genetics conference. The new capabilities allow the detection of allelic imbalance and absence of heterozygosity (AOH), enhancing the clinical utility of the Saphyr® system. These advancements could improve insights into cancer progression and recessive disorders, potentially increasing adoption among laboratories. CEO Erik Holmlin emphasized the importance of these features for enhancing comprehensive genome analysis.

Bionano Genomics (BNGO) announced participation in the upcoming American Society of Human Genetics (ASHG) conference, from October 18-22, 2021, showcasing customer presentations and posters featuring their Optical Genome Mapping (OGM) technology. Applications span from genetic diseases like ALS to cancer research, including pediatric brain tumors. Key presentations include studies on structural variations in ALS and validation studies of postnatal structural variations. The conference highlights Bionano's commitment to advancing genetic research.

Bionano Genomics (BNGO) has announced a significant study published in the Nature Publishing Journal of Genomic Medicine, demonstrating the effectiveness of its Saphyr system in combination with next-generation sequencing (NGS) for identifying previously unclassifiable genetic diseases. The research highlighted a 40% increase in detection capability, successfully resolving 50% of previously exome-negative cases. The study showcases the potential of Bionano's Full-Genome Analysis (FGA) method to enhance diagnostic accuracy in rare genetic disorders.

Bionano Genomics (BNGO) has announced its acquisition of BioDiscovery, a leader in genomic software solutions, for up to $100 million in cash and equity. This acquisition aims to enhance Bionano's market position in digital cytogenetics and genome analysis by integrating BioDiscovery's N_xClinical software. The merger is expected to streamline data analysis for structural variants, significantly reducing processing time from hours to under 20 minutes. Key personnel from BioDiscovery will join Bionano’s leadership team, further driving innovation in genomics.