BNGO Stock Price Increased Over 20%: Why It Happened

By Amit Chowdhry ● January 11, 2021
  • The stock price of BioNano Genomics Inc (NASDAQ: BNGO) was trading at over 20% today as the stock price went from a previous close of $4.70 to a day high of $6.08. This is why it happened.

The stock price of BioNano Genomics Inc (NASDAQ: BNGO) was trading at over 20% today as the stock price went from a previous close of $4.70 to a day high of $6.08.The main trigger for the stock price increase has to do with an announcement by the company about its first publication with the COVID-19 Host Genome Structural Variant Consortium.

The study shows that both optical genome mapping (OGM) and Bionano’s Saphyr System revealed structural variants (SVs) that affect genes that control the immune and inflammatory response, viral reproduction, and mucosal function. This will provide insights into the pathogenesis of COVID-19 and outcomes in patients who become very ill.

A consortium formed by Dr. Ravindra Kolhe from Augusta University chose OGM with the Saphyr System due to Saphyr’s documented performance as a top-ranked platform for detecting large SVs. And the consortium has selected OGM with the Saphyr System for genome analysis owing to Saphyr’s documented performance as the leading platform for detecting these large SVs. The SVs revealed by Saphyr were confirmed with other technologies like quantitative PCR.

The report of the study was confirmed with other technologies like quantitative PCR. The results of the study will be presented by the researchers at Bionano’s Next-Generation Cytogenomics Symposium on January 15.

KEY QUOTES:

“As director of a high-volume testing lab at Augusta University for COVID-19 I’ve seen first-hand the pain and devastation this virus can cause in those who get severely ill. The majority of the ICUs across the country are filled with patients fighting for their lives, yet we did not know why some become so severely ill while the same virus causes only mild symptoms in most. Our study shows clearly that many of the severely affected patients carry genetic variants that may cause or at least contribute to the severity of their disease by weakening the effectiveness of the immune response, increasing viral replication, or making it easier for the virus to spread between cells in the body. Importantly, the large genomic variants detected by optical genome mapping in this study are typically missed by the short-read sequencing or SNP-based methods used in other studies, which explains why previous studies haven’t made the same impact.”

— Ravindra Kolhe, MD, PhD, senior author of the study

“The COVID-19 pandemic continues without signs of slowing down. This study demonstrates that the wide variation in symptoms exhibited by patients is likely not random for most of them, but instead, at least partially, the result of SVs affecting critical pathways in patients’ defenses against infection and immune responses to the disease. The report also demonstrates that even when a disease has already been studied extensively with sequencing, OGM with Saphyr has the potential to reveal significant insights not seen without it. While we are devastated by the loss of lives caused by this global pandemic, we are grateful that our genome analysis platform can contribute to a better understanding of the disease and possibly help save lives.”

— Erik Holmlin, Chief Executive Officer of Bionano Genomics

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.