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Bionano Genomics, Inc. (Nasdaq: BNGO) is a pioneering company in the life sciences instrumentation sector, dedicated to advancing genome biology understanding through innovative solutions. The company is renowned for its development and marketing of the Saphyr™ system, an ultra-sensitive platform designed for structural variation detection. This system enables researchers and clinicians to accelerate diagnostics and therapeutic target discovery, streamlining studies on chromosomal changes.
Bionano's core mission is to transform genomic analysis through optical genome mapping (OGM) solutions, diagnostic services, and software. Their flagship product, Saphyr™, offers unmatched capabilities in structural variation discovery and the ability to construct comprehensive genome assemblies. This technology is crucial for applications in cancer research, human disease studies, agricultural bioengineering, and genome discovery.
Recent achievements include the detection of unique structural variations and gene fusions in blood cancer samples, underscoring OGM's potential as a complement to traditional sequencing methods. Bionano's OGM technology has shown superior sensitivity and resolution in various studies, highlighting its utility in pediatric leukemia and other cancers.
The company operates globally with significant revenue from the Americas, and it generates product revenue from the sales of OGM and Ionic Purification systems and consumables. Bionano also offers diagnostic testing for neurodevelopmental disabilities through its Lineagen, Inc. d/b/a Bionano Laboratories business and industry-leading genome analysis software that integrates next-generation sequencing and microarray data.
Partnerships with AI-driven companies like Diagens further enhance Bionano's offerings, aiming to improve reproductive health and other clinical applications. Additionally, Bionano continuously upgrades its VIA software and Bionano Solve pipeline to provide researchers with precise and sensitive genomic research tools.
For more information, visit Bionano Genomics and its associated websites, www.bionanolaboratories.com and www.purigenbio.com.
Bionano Genomics (BNGO) showcased its optical genome mapping (OGM) technology at the 2021 European Cytogenomics Conference (ECA), indicating its increasing adoption for genomic analysis in leukemia and genetic diseases. The event featured nine presentations highlighting OGM's advantages, such as 100% concordance with traditional techniques and significant cost and time reductions. Key findings included enhanced prognostic accuracy and identification of clinically relevant variants. CEO Erik Holmlin emphasized the potential for OGM's continued expansion in clinical research applications.
Bionano Genomics (Nasdaq: BNGO) announced two significant peer-reviewed studies published in the American Journal of Human Genetics. Conducted by leading European institutions, these studies validate the effectiveness of optical genome mapping (OGM) as a superior method for analyzing structural variants (SVs) in genetic diseases and hematological malignancies. OGM demonstrated 100% concordance with traditional methods like FISH and karyotyping, offering enhanced resolution for detecting variants. The research emphasizes OGM's potential to revolutionize cytogenetic analysis and its ready application in clinical settings.
Bionano Genomics (BNGO) has made strides in the Chinese market with the adoption of its Saphyr® System for optical genome mapping (OGM) by WeHealth Shanghai. Announced at the Structural Variation Symposium, WeHealth highlighted the launch of a comprehensive genome-analysis offering. Key presentations included successful applications of OGM for prenatal testing in muscular dystrophy and improved diagnostic workflows for hemophilia A.
CEO Erik Holmlin emphasized the company’s ongoing investment in commercial operations in China, aiming for expanded adoption of Saphyr in the reproductive health sector.
Bionano Genomics (Nasdaq: BNGO) announced participation in the 6th Annual International Conference of the Board of Genetic Counseling India from July 2-4, 2021. Chief Medical Officer Dr. Alka Chaubey will discuss optical genome mapping (OGM) in genetic counseling on July 3 at 9:25 am IST. Dr. Yassmine Akkari will present on OGM's role in Acute Myelogenous Leukemia at 4:10 pm IST the same day. The conference promotes genetic education and has over 2,000 global delegates. Bionano is a Diamond Sponsor of the event.
Bionano Genomics, Inc. (Nasdaq: BNGO) announced that its CEO, Erik Holmlin, will present at the 2021 Ladenburg Thalmann Healthcare Conference on July 13 at 4:30 PM EDT. The presentation will provide an overview of the company and will be accessible on Bionano's Investors section of their website. A recorded version will be available for 30 days post-event. Bionano specializes in genome analysis with its Saphyr system, supporting genetic research and diagnostic testing for neurodevelopmental disorders.
Bionano Genomics, Inc. (Nasdaq: BNGO) has been added to the US small-cap Russell 2000® Index, effective June 28, 2021, as part of the Russell indexes reconstitution. This membership enhances Bionano's visibility to institutional investors and reflects the growing awareness of optical genome mapping (OGM) in genome analysis. Russell indexes are widely utilized by investment managers, with approximately $10.6 trillion in assets benchmarked against them. The inclusion is expected to boost Bionano's profile as it develops its Saphyr system for genomic research and diagnostics.
Bionano Genomics (Nasdaq: BNGO) announced the appointment of Richard Shippy as Chief Business Officer. With over 20 years in life sciences, Shippy has a proven track record at Affymetrix, where he developed the CytoScan HD Array, and at Illumina. He will lead product strategy and market expansion for Bionano's optical genome mapping (OGM) technology, aiming to enhance the detection of structural variations (SVs). CEO Erik Holmlin expressed confidence in Shippy's ability to drive the company's growth and impact in cytogenetics.
Bionano Genomics (BNGO) has appointed Jason Priar as Chief Commercial Officer. Priar is a seasoned leader known for scaling businesses in genetic diseases and cancer testing, previously leading GeneDx to significant revenue growth. His role will focus on enhancing sales and market access for the company's Saphyr® system and Lineagen’s diagnostic services. CEO Erik Holmlin expressed confidence in Priar's ability to drive global adoption of Bionano's optical genome mapping technology, emphasizing his industry expertise and established relationships with payers.
Bionano Genomics, Inc. (Nasdaq: BNGO) will present virtually at the Oppenheimer MedTech, Tools & Diagnostics Summit on May 26, 2021, at 8 am ET. The presentation will be accessible on Bionano’s website under the Investors section, with an archived webcast available for 30 days after the event. Bionano specializes in genome analysis, offering the Saphyr system for detecting structural variations and providing diagnostic testing for autism spectrum disorder through its Lineagen business. For more details, visit www.bionanogenomics.com.
Bionano Genomics reported a 179% year-over-year revenue increase for Q1 2021, achieving total revenues of $3.2 million. This growth was fueled by record sales of consumables and an expanding Saphyr installed base. The company also maintained a strong balance sheet with $362 million in cash as of March 31, 2021. Key milestones include expansions into new markets and applications in prenatal analysis and cancer research. Operating expenses rose to $12.2 million, driven by increased headcount and material costs, but gross margins improved to 33%.
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