Bionano Genomics (BNGO) Stock Jumps 5% After Acquisition News

Bionano Genomics said it has entered into a definitive agreement to acquire privately-held BioDiscovery, Inc. for $100 million. BNGO stock rises 4.89% in the previous trading session. It was trading at $5.36 and as of today, it trades at $5.44. Bionano Genomics is a leading digital cytogenetics company focused on comprehensive genome analysis. With the acquisition of BioDiscovery, Bionano Genomics will gain access to the company’s expertise in data analysis and reporting solutions.

Erik Holmlin, the CEO of Bionano Genomics, said that acquiring OGM will accelerate the company’s efforts to make the assessment of variants in cytogenetics applications easier and lower the time needed to interpret data. Bionano Genomics, Inc. is a life sciences company that develops and markets its Saphyr system for the analysis of DNA variation. The company’s platform simplifies the study of changes in chromosomes and other challenging scientific procedures. Bionano’s labeling and prep kits are designed to enable the extraction and labeling of high-molecular-weight DNA for use with the Saphorr system. The company’s data solutions include a suite of hardware and software that enables users to analyze and visualize their results.

Anthony Gonzales

Biotech, Tech, and Crypto reporterAnthony Gonzales brings 3 years of experience in helping grassroots, mid-sized organizations and large institutions strengthen their management and resource generating capacities and effectively plan for the future. He is also a mentor and professional advisor to artists working in all disciplines. He is the gold medalist from St. Marco University of Science and Technology in the Bachelors of Financial Management as well.