Bionano Genomics (BNGO) Stock Comes Back Strongly: What’s The Buzz?

Bionano Genomics’ stock has been at a smooth pace during this week. From October 7 and October 12 the value of stock jumped by 9.74%. Currently, the stock is worth $5.47. However, during the last six months, the company suffers a highly volatile environment. In June the value was equal to $8.40, it crashed a month later to $5.26. Today, by the end of the session, the stock is worth $5.45, marking a 6.75% increase in just a day. Bionano Genomics announced today that it has signed a formal agreement to buy BioDiscovery, a premier software business that provides best-in-class solutions for genomics data analysis, interpretation, and reporting. Bionano Genomics’ market leadership in digital cytogenetics and complete genome analysis is projected to expand and broaden as a result of the purchase.

Soheil Shams, Ph.D., Founder, and CEO of BioDiscovery, will join Bionano’s leadership team as Chief Informatics Officer as a result of the acquisition. The Bionano and BioDiscovery teams will collaborate to create a version of NxClinical that includes OGM data alongside existing NGS and microarray data types. Future goals include RNA expression profiling, epigenetics including methylation, and potentially proteomics in the future. Future goals include RNA expression profiling, epigenetics including methylation, and potentially proteomics in the future.

Miriam Bozini

Finance and Business Reporter