MARKET

BNGO

BNGO

Bionano Genomics
NASDAQ

Real-time Quotes | Nasdaq Last Sale

0.5018
+0.0048
+0.97%
After Hours: 0.5020 +0.0002 +0.04% 19:58 12/04 EST
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0.4970
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0.4970
HIGH
0.5020
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0.4923
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--
52 WEEK HIGH
1.390
52 WEEK LOW
0.2500
MARKET CAP
76.87M
P/E (TTM)
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Bionano Genomics Users Present the Saphyr System As a Novel Diagnostic Tool for Hematological Malignancies at ASH 2020
SAN DIEGO, Dec. 03, 2020 (GLOBE NEWSWIRE) -- Bionano Genomics, Inc. (Nasdaq: BNGO) announced that its Saphyr System for optical genome mapping is being introduced as a novel diagnostic tool for heme malignancies by Dr. Rashmi Kanagal-Shamanna of the MD Anderson Cancer Center at the Annual Meeting of the American Society of Hematology (ASH). With more than 18,000 members from nearly 100 countries, the ASH is the world's largest professional society serving both clinicians and scientists around the world who are working to conquer blood diseases. The annual meeting is being held virtually at hematology.org from December 5-8. Preceding the annual meeting are a number of scientific workshops which are focused on novel technologies and applications and teaching hematologists about novel and emerging methods in molecular pathology. For the first time, this year Bionano optical genome mapping will be introduced in the session on Novel Diagnostic Genomic Tools by Dr. Rashmi Kanagal-Shamanna, Director of the microarray facility in the molecular diagnostic lab of the University of Texas MD Anderson Cancer Center. Dr. Kanagal-Shamanna will be presenting her work on characterizing the performance and clinical value of Saphyr in patients with Myelodysplastic Syndrome (MDS), a common hematologic malignancy.In the scientific section on Emerging Diagnostic Tools and Techniques, Dr. Barbara Dewaele from the Center for Human Genetics at the University Hospitals Leuven, Belgium, will present for the first time on a significant validation study of Saphyr for the genetic diagnosis in Acute Lymphoblastic Leukemia (ALL).Below are details on the presentations at ASH 2020 featuring the use of Bionano’s optical genome mapping technology:Scientific Workshop at ASH 2020 – Novel Diagnostic Genomic Tools and Technologies 1748-1753 – Optical Mapping for Detection of Genomic Abnormalities in Hematologic Malignancies Rashmi Kanagal-Shamanna, MD Anderson Cancer Center, Houston, Tx, USA Thursday, December 3, 2:45 pm - 3:24 pmSession: 803. Emerging Diagnostic Tools and Techniques 1557 – Opportunities of Genome Imaging for Genetic Diagnosis in Acute Lymphoblastic Leukemia Barbara Dewaele, Center for Human Genetics, University Hospitals Leuven, Belgium Saturday, December 5, 2020, 7:00 am - 3:30 pmAbout Bionano Genomics Bionano is a genome analysis company providing tools and services based on its Saphyr system to scientists and clinicians conducting genetic research and patient testing, and providing diagnostic testing for those with autism spectrum disorder (ASD) and other neurodevelopmental disabilities through its Lineagen business. Bionano’s Saphyr system is a platform for ultra-sensitive and ultra-specific structural variation detection that enables researchers and clinicians to accelerate the search for new diagnostics and therapeutic targets and to streamline the study of changes in chromosomes, which is known as cytogenetics. The Saphyr system is comprised of an instrument, chip consumables, reagents and a suite of data analysis tools, and genome analysis services to provide access to data generated by the Saphyr system for researchers who prefer not to adopt the Saphyr system in their labs. Lineagen has been providing genetic testing services to families and their healthcare providers for over nine years and has performed over 65,000 tests for those with neurodevelopmental concerns. For more information, visit www.bionanogenomics.com or www.lineagen.com.Forward-Looking Statements This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as “may,” “will,” “expect,” “plan,” “anticipate,” “estimate,” “intend” and similar expressions (as well as other words or expressions referencing future events, conditions or circumstances) convey uncertainty of future events or outcomes and are intended to identify these forward-looking statements. Forward-looking statements include statements regarding our intentions, beliefs, projections, outlook, analyses or current expectations concerning, among other things: the timing and content of the presentations identified in this press release; the effectiveness and utility of Bionano’s technology in basic genetic research and clinical settings, and in the contexts contemplated by the presentations identified in this press release; and Bionano’s strategic plans. Each of these forward-looking statements involves risks and uncertainties. Actual results or developments may differ materially from those projected or implied in these forward-looking statements. Factors that may cause such a difference include the risks and uncertainties associated with: the impact of the COVID-19 pandemic on our business and the global economy; general market conditions; changes in the competitive landscape and the introduction of competitive products; changes in our strategic and commercial plans; our ability to obtain sufficient financing to fund our strategic plans and commercialization efforts; the ability of medical and research institutions to obtain funding to support adoption or continued use of our technologies; the loss of key members of management and our commercial team; and the risks and uncertainties associated with our business and financial condition in general, including the risks and uncertainties described in our filings with the Securities and Exchange Commission, including, without limitation, our Annual Report on Form 10-K for the year ended December 31, 2019 and in other filings subsequently made by us with the Securities and Exchange Commission. All forward-looking statements contained in this press release speak only as of the date on which they were made and are based on management's assumptions and estimates as of such date. We do not undertake any obligation to publicly update any forward-looking statements, whether as a result of the receipt of new information, the occurrence of future events or otherwise. CONTACTS Company Contact: Erik Holmlin, CEO Bionano Genomics, Inc. +1 (858) 888-7610 eholmlin@bionanogenomics.comInvestor Relations Contact: Ashley R. Robinson LifeSci Advisors, LLC +1 (617) 430-7577 arr@lifesciadvisors.comMedia Contact: Darren Opland, PhD LifeSci Communications +1 (617) 733-7668 darren@lifescicomms.com
GlobeNewswire · 2d ago
Bionano Genomics and its Users Present the Saphyr System for Optical Genome Mapping and Various Advancements in Clinical Variant Detection at AMP 2020
Bionano Genomics, Inc. (Nasdaq: BNGO) announced that the performance and application of its Saphyr system for optical genome mapping are being showcased at the Annual Meeting of the Association for Molecular Pathology (AMP), being held virtually at amp20.amp.org from November 16-20. AMP is widely recognized as the preeminent scientific society dedicated to advancing the clinical practice, science and excellence of molecular and genomic laboratory medicine. With over 2,500 members in over 50 countries working in the field of molecular pathology, its annual meeting is considered the prime event for presenting advances and technological innovations in molecular diagnostics to pathologists, laboratory directors and clinical professionals.
GlobeNewswire · 11/19 13:06
Bionano Genomics and its Users Present the Saphyr System for Optical Genome Mapping and Various Advancements in Clinical Variant Detection at AMP 2020
GlobeNewswire · 11/19 13:00
Is Now the Time to Pull the Trigger on Bionano Stock? These Analysts Say Yes
You know there was some bad news with a company's quarterly update when the stock tumbles after the results are announced. That's what happened Friday with Bionano Genomics (BNGO). The cytogenetics specialist's shares fell nearly 10% after the announcement of its Q3 results.While Bionano reported $2.2 million in Q3 2020 revenue, slightly ahead of consensus expectations for $2.1 million, it represented a 33% decline year over year. Profits-wise, Bionano reported a $10.8 million net loss (up 69% year over year) as a result of increased research and development spending, and a near-doubling in selling, general, and administrative expenses.Despite the disappointing reaction among investors, two Wall Street investment banks stepped in to reiterate their support of the stock, and to predict that Bionano stock will not only recover its losses, but grow three times in value over the next year... or maybe even four times.Let's begin with the less optimistic of these two notes, from Oppenheimer's Kevin DeGeeter, who rates Bionano Genomics an Outperform (i.e. Buy) and believes that the stock's $0.50-a-share price is going to $1.50 in the next 12 months. (To watch DeGeeter's track record, click here)DeGeeter starts out by noting that $2.2 million was at least "in line" with his own sales estimate of $2.3 million, and that flow cell (glass slides used in DNA analysis) sales were up 34% year over year and up 25% sequentially from Q2 2020. Sales of "consumable" products such as these flow cells are key to DeGeeter's optimism about the stock, which he predicts will make up lost ground in Q4 to close out 2020 with $7.7 million in sales (just a bit below last year's $8 million in sales). DeGeeter expects real growth to appear in 2021, with sales surging to $22.7 million, then nearly doubling again to $40.2 million in 2022.As optimistic as DeGeeter is about the stock, Maxim's Jason McCarthy is even more so, positing a $2 share price on Bionano Genomics 12 months from now, and rating the stock "buy." (To watch McCarthy's track record, click here)Acknowledging the revenue decline year over year, McCarthy blames it on Covid temporarily depressing demand, and also a change in business model to a "rental-reagent model" -- but emphasizes the speed of Bionano's sales rebound, noting that total revenues were up 86% sequentially. Furthermore, McCarthy believes that revenue growth under the new business model will be "more predictable" and less "chunky."McCarthy also believes that Bionano's Saphyr system will prove useful to researchers conducting a large US leukemia study, arguing that "Saphyr offers a simple and high throughput work flow" that is better and cheaper than existing methods of chromosomal analysis. And the analyst cites a "largest-to-date study in undiagnosed genetic disease" being conducted by University of California San Francisco, in which Saphyr again proved than existing "standard of care sequencing and cytogenetic methods" at diagnosing unknown genetic diseases.Perhaps the most curious part of McCarthy's report, however, is that he predicts Bionano's revenues will be much lower than what DeGeeter is calling for both this year ($7.1 million) and next year as well ($19.2 million). Yet even with these smaller revenue numbers, his $2 price target implies 33% more upside in the stock than DeGeeter predicts.Over the past 3 months, only one other analyst has thrown the hat in with a view on the stock. The additional Buy rating provides BNGO with a Strong Buy consensus rating. With an average price target of $1.55, investors stand to take home over 200% gain, should the target be met over the next 12 months. (See BNGO stock analysis on TipRanks)To find good ideas for biotech stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights.Disclaimer: The opinions expressed in this article are solely those of the featured analyst. The content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment.
TipRanks · 11/16 17:40
Bionano Genomics Q3 Sales $2.20M Beat $2.07M Estimate
Bionano Genomics (NASDAQ:BNGO) reported quarterly sales of $2.20 million which beat the analyst consensus estimate of $2.07 million by 6.09 percent. This is a 33.72 percent decrease over sales of $3.31 million the same
Benzinga · 11/12 21:04
Bionano Genomics Reports Third Quarter 2020 Financial Results and Provides Business Update
Bionano Genomics, Inc. (NASDAQ: BNGO), a genome analysis company providing tools and services based on its Saphyr system to scientists and clinicians conducting genetic research and patient testing, and providing diagnostic testing for those with autism spectrum disorder (ASD) and other neurodevelopmental disabilities through its Lineagen business, today reported its financial results for the third quarter ended September 30, 2020 and provided a business update.
GlobeNewswire · 11/12 21:01
ROCE Insights For Bionano Genomics
Bionano Genomics (NASDAQ: BNGO) reported Q2 sales of $1.18 million. Earnings fell to a loss of $7.43 million, resulting in a 23.84% decrease from last quarter. In Q1, Bionano Genomics brought in $1.14 million in sales but lost $9.76 million in earnings.What Is Return On Capital Employed? Return on Capital Employed is a measure of yearly pre-tax profit relative to capital employed by a business. Changes in earnings and sales indicate shifts in a company's ROCE. A higher ROCE is generally representative of successful growth of a company and is a sign of higher earnings per share in the future. A low or negative ROCE suggests the opposite. In Q2, Bionano Genomics posted an ROCE of -1.27%.Keep in mind, while ROCE is a good measure of a company's recent performance, it is not a highly reliable predictor of a company's earnings or sales in the near future.View more earnings on BNGOReturn on Capital Employed is an important measurement of efficiency and a useful tool when comparing companies that operate in the same industry. A relatively high ROCE indicates a company may be generating profits that can be reinvested into more capital, leading to higher returns and growing EPS for shareholders.For Bionano Genomics, the return on capital employed ratio shows the current amount of assets may not actually be helping the company achieve higher returns, a note many investors will take into account when making long-term financial decisions.Q2 Earnings Recap Bionano Genomics reported Q2 earnings per share at $-0.09/share, which did not meet analyst predictions of $-0.09/share.See more from Benzinga * Click here for options trades from Benzinga * 12 Healthcare Stocks Moving In Thursday's Pre-Market Session * Earnings Scheduled For November 12, 2020(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Benzinga · 11/12 14:49
The Daily Biotech Pulse: AstraZeneca's Cancer Drug Flunks COVID-19 Studies, Five Prime On a Roll, Morphosys, Xencor, Incyte Strike Cancer Deal
Here's a roundup of top developments in the biotech space over the last 24 hours: Scaling The Peaks (Biotech Stocks Hitting 52-week Highs Nov. 11)
Benzinga · 11/12 12:44
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Analyst Rating

Based on 4 analysts

Buy

Disclaimer: The analysis information is for reference only and does not constitute an investment recommendation.

Analyst Price Target
The average BNGO stock price target is 1.375 with a high estimate of 2.000 and a low estimate of 0.7500.
EPS
Institutional Holdings
Institutions: 37
Institutional Holdings: 8.39M
% Owned: 5.48%
Shares Outstanding: 153.19M
TypeInstitutionsShares
Increased
10
5.74M
New
15
468.00K
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5
1.68M
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Advanced Medical Equipment & Technology
+1.17%
Healthcare Equipment & Supplies
+1.33%
Key Executives
Chairman/Independent Director
David Barker
President/Chief Executive Officer/Director
R. Erik Holmlin
President/Chief Executive Officer/Director
R Holmlin
Chief Operating Officer
Mark Borodkin
Chief Financial Officer
Christopher Stewart
Chief Operating Officer
Mark Oldakowski
Other
Alka Chaubey
Director
Yvonne Linney
Director
Hannah Mamuszka
Independent Director
Albert Luderer
Independent Director
Christopher Twomey
Independent Director
Kristiina Vuori
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About BNGO
Bionano Genomics, Inc. is a life sciences instrumentation company in the genome analysis space. The Company develops and markets the Saphyr system. The Company’s products include Sequencing for Discovery Research and Cytogenetics. Cytogenetics provide a clinical diagnosis, cytogenetic tests detect known variations that are linked to specific diseases or therapeutic responses. Saphyr system is platform for ultra-sensitive and ultra-specific structural variation detection that enables researchers and clinicians to accelerate the search for new diagnostics and therapeutic targets and to streamline the study of changes in chromosomes, which is known as cytogenetics. Sequencing for Discovery Research is primarily used to find single nucleotide variations responsible for disease or therapeutic response. The Company’s subsidiary, Lineagen, Inc., provides molecular diagnostics services for individuals.
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