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BioNano Genomics Inc

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About BNGO

Bionano Genomics, Inc. is a genomics company, which provides optical genome mapping (OGM) for genome analysis. The Company offers diagnostic services to physicians specializing in medical management for individuals with genetic conditions, such as pediatric neurodevelopmental disorders, including autism spectrum disorders. It markets and sell the Saphyr system, which delivers OGM data to enable ultra-sensitive and ultra-specific detection of all classes of structural variation. Its Lineagen business provides diagnostic testing for patients with clinical presentations consistent with autism spectrum disorder and other neurodevelopmental disabilities. Through its BioDiscovery business, it offers a platform-agnostic software solution, which integrates sequencing and microarray data designed to provide analysis, visualization, interpretation and reporting of copy number variants, single-nucleotide variants and absence of heterozygosity across the genome in one consolidated view.

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What is Bionano Genomics and what do they do?

Put on your lab coat – this will get sciencey. Bionano Genomics is a global leader in the provision of optical genome mapping (OGM) solutions for genome analysis.

The company earns most of its revenue through sales of Saphyr, its genome mapping system, chip consumables, reagents and a suite of data analysis tools. 

According to Bionano Genomics, Saphyr allows researchers and clinicians “to accelerate the search for new diagnostics and therapeutic targets and to streamline the identification of structural changes in chromosomes, known as cytogenetics.”

Through their subsidiary, Lineagen, Bionano Genomics also runs diagnostic genetic testing for pediatric patients suspected of neurodevelopmental disabilities, in particular children.

The company was founded in 2003 by former Chief Scientific Officer and CEO, Han Cao. Bionano Genomics is currently headquartered in San Diego, California and run by CEO Erik Holmlin.

BNGO vs CRSP: What’s the difference between the two companies?

Bionano Genomics creates products and services that facilitate OGM and genome analysis.

CRISPR Therapeutics (CRSP) is focused on “transformative gene-based medicines for serious human diseases” using their very own gene-editing platform CRISPR-Cas9. Co-invented by the company’s founder, Dr. Emmanuelle Charpentier, CRISPR-Cas9 is used to treat blood disorders, cancers, diabetes and other diseases.

What type of stock is BNGO?

BNGO is a healthcare stock. The company sits in the instruments manufacturing industry and focuses on OGM and genome analysis.

Is BNGO profitable?

Bionano Genomics is currently unprofitable

In fact, the company’s operating income has gone deeper into the red over the past 3 years from minus US$26m in FY2019 to minus US$39m in FY2020 to minus US$77m in FY2021.

At the end of FY2021, Bionano Genomics’ free cash flow sat at minus US$73m.

Is BNGO a buy or sell?

Overall market sentiment on BNGO is mixed. 

Despite the decline in Bionano Genomics’ income, some investors are still bullish on the stock citing the Saphyr system as a true game changer in OGM and genome analysis.

Other investors see the consistent decline in operating income as a sign to sell. BNGO’s share price has fallen 82% from over US$9.5 to a touch over US$1.5 over the past 12 months.

What is the short interest in BNGO?

As of 28 February 2022, Bionano Genomics’short interest totaled 13.33% of all shares. This is up 0.55% from the previous month’s short interest.

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