Bionano Genomics Inc’s (NASDAQ: BNGO) stock is up 25% from its Tuesday low, but it is still 60% down from its peak price in February.
The stock has been soaring after two labs affiliated with the UK government joined its system. Bionano, a genomic analysis company, offers genomic services and expertise to clinicians conducting genetic research and diagnostic testing for ASD through the Lineagen business.
Notably, a prototype of its Saphyr system allows clinicians and researchers to realize new diagnostic biomarkers with efficient chromosomal changes study, often called cytogenetics. On Wednesday, the company announced that two UK NHS hospitals had adopted the Saphyr system for optical genome mapping. Bionano’s Reagent Rental Program prompted the labs to adopt the system, involving commitment to acquire consumables with time. Each site will use Saphyr in analyzing genomics in heme malignancies.
With time the company will accelerate the process for researchers to integrate OGM into Saphry for quick data generation. In the coming weeks, Bionano stock is worth watching.
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