Bionano Genomics (BNGO.Q) announced today that optical genome mapping (OGM), utilizing the Company’s Saphyr System, has revealed new insights and prognostic capabilities compared to traditional cytogenetics techniques in several leukemia clinical research studies. These studies were presented at the 2021 European Cytogenomics Conference (ECA).
“This year, the ECA had an increased number of presentations featuring Bionano’s data in leukemia research, which helps reflect increased awareness of the unique benefits of OGM throughout Europe,” commented Erik Holmlin, PhD, CEO of Bionano Genomics.
Cytogenetics vs. Saphyr System OGM
Cytogenetics
Cytogenetics refers to the study of chromosomes, the long strands of DNA containing most of our genetic information. Cytogenetics involves testing samples of tissue, blood, or bone marrow in a laboratory to look for changes in these chromosomes. With this in mind, any noticeable changes in certain chromosomes may indicate the presence of a genetic disease or cancer. However, the capabilities of cytogenetics are limited to the laborious techniques needed to perform an analysis. Moreover, individually, these techniques are only able to visualize some abnormalities.
Saphyr System OGM
Compared to traditional cytogenetics, Bionano’s Saphyr System utilizes optical genome mapping to detect all copy number variations (CNVs), chromosomal abnormalities and structural variants. Furthermore, the Company’s Saphyr System is able to consolidate traditional cytogenetic testing methods in one single workflow. Overall, Bionano’s OGM platform is capable of detecting abnormalities in chromosomes and DNA quickly, effectively, and accurately. To put things into perspective, the Saphyr System is able to provide 100x coverage of 3 human genomes in less than 6 hours. Comparatively, cytogenetic testing methods like fluorescence in situ hybridization (FISH) can take up to 7 days to process results.
European Cytogenomics Conference (ECA)
During one presentation at the ECA, Dr. Elena García Sánchez revealed the results of a study demonstrating the value of OGM for diagnosis of pediatric leukemias. In this study, 34 pediatric leukemias were analyzed relative to traditional cytogenetic techniques. Results showed 100% concordance compared to standard cytogenetic techniques and in 60% of these cases, new clinically relevant information was revealed.
Similarly, Dr. Anna Puiggros utilized Bionano’s OGM platform to analyze genomic complexity in patients with chronic lymphocytic leukemia (CLL). In this study, 42 CLL samples were characterized by traditional cytogenetic techniques compared to OGM. Unsurprisingly, Bionano’s Saphyr System was able to accurately predict the most severe prognosis associated with high genomic complexity without breaking a sweat.
“…We believe these presentations highlight the core advantages of OGM, using Saphyr, for delivering a superior solution in clinical research for hematological malignancy applications relative to standard techniques,” continued Erik Holmlin.
In the last year, Bionano has done exceptionally well, achieving cash and cash equivalents of $362,057,000 for the three months ended March 31, 2021, growing substantially from $8,144,000 year-over-year. Between December 31, 2020 and March 31, 2021, Bionano’s assets increased to $384,861,000 and its liabilities shrank to $22,143,000, resulting in total stockholders’ equity of $362,718,000. Keep in mind, much of Bionano’s growth is attributed to company expansion and the increased adoption of its Saphyr System worldwide.
Bionano’s share price opened at $6.12, up from a previous close of $6.09. The Company’s shares are down -3.45% and are currently trading at $5.88 as of 1:20PM ET.
