BioNano Genomics (BNGO) Stock Gains On Launch And Data

BioNano Genomics BNGO Stock News

BioNano Genomics Inc (NASDAQ: BNGO) is making a run for the top in the market this morning, and for good reason. The company announced the publication of multiple studies in a peer revieweed journal. Moreover, the positive studies led to the launch of a new product, sending the stock up more than 23% early on. Here’s what’s going on:

BNGO Stock Flies On Product Launch And Data Publication

In a press release issued early this morning, Bionano Genomics announced that four leukemia studies using its technology were published in a special edition of the journal Blood. The publications took place prior to the start ot he Annual Meeting of the American Society of Hematology.

BNGO also announced the launch of its DNA isolation kit for Bone Marrow Aspirates, the primary material collected in leukemia patients.

In the release, the company said that the new kit allows for the consistent isolation of Ultra High Molecular Weight DNA. Importantly, the process takes just four hours. The company said that the Saphyr System analyzes these extremely long molecules to detect all types of structural varians, unbiased, genome-wide, down to 5% varient allele fraction.

BNGO said that the four studies on various leukemias using its technology were published in the November supplemental issue of Blood, the journal of the American Society of Hematology.

The data showed that Saphyre identified 97% of all abnormalities that were detected by karyotype, FISH, microarray and NGS combined. Moreover, BNGO said that its technology revealed numerous novel genomic rearrangements in the CLL genomes that were undetectable by standard methods.

In another study, all clinically relevant variants identified by karyotype and microarray were detected by the company’s technology. The same impressive results were seen in the third and fourth studies.

Why Investors Are Excited About This News

At the end of the day, a new product launch is always exciting. However, there’s more than one reason for the excitement here.

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First and foremost, a new product launch is always exciting. After all, with the launch, BioNano Genomics now has yet another opportunity to generate revenue. However, this launch is even more exciting.

The truth of the matter is that leukemia is a very serious illness. Moreover, any physician will tell you that the faster the diagnosis, the better. Unfortunately, standard diagnosis technologies are convoluted and take quite a bit of time to yield results.

As such, the Saphyre System by BNGO helps to change that. The system is lightning fast, giving phsyicians more to work with faster in the treatment of this serious condition. As such, it wouldn’t be surprising to see the uptake of this technology quickly flow through the market.

All in all, this is yet another story of a strong revenue opportunity through the commercialization of an impressive technology for BNGO and its investors.

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