Bionano Genomics, Inc. - BNGO STOCK NEWS

Bionano Genomics (Nasdaq: BNGO) has filed a prospectus with the SEC for an at-the-market equity offering program, allowing it to sell up to $40 million worth of common stock. The proceeds will be used for general corporate needs, including R&D and debt repayment. The shares will be sold through Ladenburg Thalmann & Co. Inc., and Bionano is not obligated to sell any shares under the program. Investors are advised to review the ATM Prospectus and associated documents for comprehensive details about the offering and the company's current risks, particularly those linked to COVID-19.

Bionano Genomics (BNGO) reported Q2 2020 financial results with total revenue decreasing by 45.7% to $1.2 million, impacted by COVID-19 lab shutdowns. Despite a decrease in revenue, the company processed 493 customer samples this year, highlighting strong adoption of the Saphyr system. Operating expenses increased by 7.4% to $8.0 million due to headcount growth. The company retains $17.2 million in cash. Notable achievements include 100% concordance in studies validating Saphyr against gold standard cytogenetic methods and expansion into COVID-19 research with an extensive scientific consortium.

Bionano Genomics (BNGO) has made substantial progress in its COVID-19 host genetics studies, particularly concerning initial outbreaks in Wuhan and Shanghai. The company successfully analyzed patient samples at GrandOmics in Wuhan, focusing on genomic differences between individuals with mild and severe symptoms. Despite previous setbacks due to restrictions, four samples from Shanghai have been processed successfully, showing high DNA quality. Bionano's Saphyr technology is expected to provide critical structural variation data, potentially aiding in the development of new COVID-19 therapies and diagnostics.

Bionano Genomics (BNGO) announced a study in Nature highlighting its Saphyr genome imaging technology's role in constructing reference-quality genomes of six bat species. The research shows bats' unique ability to withstand viral infections, relevant amidst the COVID-19 pandemic. Conducted as part of the Bat1K consortium, the study involved a comparative analysis of bat genomes against 42 other mammals, revealing significant genetic adaptations. The findings may advance understanding of viral transmission from bats to humans and the immune mechanisms involved.

Bionano Genomics (BNGO) announced an international consortium using its Saphyr genome imaging system to analyze genomic variants in 1,000 COVID-19 patients across North America and Europe. Led by Dr. Ravindra Kolhe and Dr. Alka Chaubey, the initiative includes over 40 renowned institutions. Initial findings from 30 analyzed patients indicate Saphyr detects significant structural variations in genes linked to disease severity, challenging traditional point mutation theories. Bionano aims to advance COVID-19 understanding and treatment through this collaboration, supported by tech donations from Rescale and Amazon.

Bionano Genomics (BNGO) announced a significant milestone with the first complete assembly of a human chromosome using its genome imaging technology, Saphyr. This assembly, detailed in a Nature publication, showcased the ability to achieve a gap-free build of the human X chromosome. Bionano's technology provided crucial structural accuracy that corrected errors in long-read sequencing data. CEO Erik Holmlin emphasized the potential of this advancement to enhance reference genomes, aiding in the discovery of new therapeutic targets and diagnostic biomarkers.

Bionano Genomics (BNGO) has reported a significant breakthrough in cytogenetic testing through its Saphyr system, achieving 100% concordance with traditional methods in a large study involving 85 samples related to constitutional genetic disorders. Novel fusion genes and mutations were discovered, underscoring Saphyr's potential to replace conventional testing methods in genetic diagnostics. Notably, Saphyr identified a 25% additional yield in unsolved rare diseases. The positive outcomes from these studies may establish Saphyr as the new standard for digital cytogenetic testing.

Bionano Genomics (NASDAQ: BNGO) reported Q1 2020 financials, revealing a total revenue of $1.1 million, down from $1.8 million in Q1 2019. The decline is attributed to lab shutdowns amid COVID-19. The company processed 416 samples in 2020, compared to 212 in 2019, and shipped 116 Saphyr instruments, with 83 installed. Operating expenses rose by 46% to $10 million. The net loss increased to $10.5 million from $7.8 million in the previous year. Cash reserves decreased to $8.1 million as of March 31, 2020. Bionano launched a global study on genomic variants related to COVID-19.

Bionano Genomics, Inc. (NASDAQ: BNGO) has announced a conference call and live webcast on June 18, 2020, at 4:30 p.m. Eastern Time. The call aims to disclose financial results for the first quarter ended March 31, 2020, and provide a business update. Bionano specializes in structural variation detection in genome analysis through its Saphyr® platform. This call will be significant for investors looking to understand the company's performance and future direction.