SAN DIEGO - Bionano Genomics, Inc. (NASDAQ:BNGO) revealed a study on Wednesday that indicates optical genome mapping (OGM) can detect structural variants in leukemia more effectively than traditional cytogenetic methods. The research, conducted by the University Medical Center Groningen, employed OGM to find variants in bone marrow aspirate samples that were not identified by older techniques.
The study also introduced a validation process using targeted Cas9-directed Nanopore sequencing to confirm the findings from OGM and to determine the precise breakpoints at the base pair level. This dual approach, according to Erik Holmlin, PhD, president and CEO of Bionano, could lead to a more comprehensive understanding of leukemia subtypes and improve the identification of pathogenically relevant structural variants.
The results suggest that OGM, when combined with Cas9-directed Nanopore sequencing, provides a robust and superior method for whole genome analysis in blood cancer research. The company emphasizes that while OGM products are currently for research use only and not for diagnostic procedures, these findings could have significant implications for future diagnostic and therapeutic strategies.
Bionano Genomics is a company focused on offering genome analysis solutions, including OGM systems, diagnostic services, and software designed to integrate various genomic data for a consolidated view of genetic alterations. The recent study aligns with Bionano's mission to transform genomic understanding through advanced technologies.
This news is based on a press release statement and should be considered in the context of other developments and research in the field of genomics and cancer diagnostics.
InvestingPro Insights
Bionano Genomics, Inc. (NASDAQ:BNGO) has been making strides in the field of genomics with its latest study on optical genome mapping (OGM), which is set to enhance the detection of structural variants in leukemia. As the company continues to innovate and push the boundaries of genomic analysis, it's essential to consider the financial health and market performance of BNGO, which could impact its ability to sustain and grow its research capabilities.
InvestingPro data shows that Bionano Genomics has a market capitalization of 48.64 million USD, reflecting its size within the biotech industry. Despite the promising research, the company's P/E ratio stands at -0.12, indicating that it is currently not profitable. This aligns with one of the InvestingPro Tips, which suggests that analysts do not anticipate the company will be profitable this year. Additionally, the stock has experienced a significant price drop over the last year, with a 1 Year Price Total Return of -89.8%, pointing towards high volatility in its share price, another aspect highlighted by InvestingPro Tips.
Investors considering BNGO should note that the company operates with a moderate level of debt and has been quickly burning through cash, which could pose risks for long-term sustainability. However, with a revenue growth of 29.9% over the last twelve months as of Q1 2023, there is evidence of growth potential in its operations. For those looking to delve deeper into Bionano Genomics' financials and stock performance, there are additional InvestingPro Tips available, including insights on valuation, free cash flow yield, and debt levels. To access these tips and more, visit https://www.investing.com/pro/BNGO and remember to use coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
With the company's next earnings date approaching on May 9, 2024, potential investors and current shareholders will be watching closely to see if Bionano's advancements in the research field will translate into improved financial health and stock performance.
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