Bionano Genomics (BNGO) Stock has kicked off 2021 in Style, What’s Next?
Bionano stock continues to grow following the 180-days re-compliance extension by NASDAQ.
The biosciences have been the highlight in the stock market since last week—soaring over 450%. Bionano Genomics (BNGO) stock is about to regain its compliance with NASDAQ with a minimum of $1 per share trading for 10 consecutive days. The stock is trading above $1 since Dec. 27, 2020.
Currently, BNGO is trading above $4 as of Jan. 4, 2021. The investors anticipate massive potential in BNGO stock as the average trading volume is above $32 million on daily basis. Wild stock market moves are a familiar sight for BioNano’s investors from the past year. And, the ongoing moves are quite intriguing, too.
What’s up next for Bionano Genomics?
The most significant development occurring around the Bionano Genomics network is its Saphyr System. By the end of last month, the company obtained a key milestone for the throughput of its Saphyr System. The optical genome mapping system is now capable of imaging up to 96 human genomes per week. This will take the tally to 4,992 samples per year, along with a depth of coverage of 100x each week.
Bionano’s Saphyr holds massive potential in the large SV research market. This year is expected to be an execution year for the Saphyr system across the clinical cytogenetics market. The studies suggest that Saphyr is the “lone wolf” in the market at the moment—the cost structure and the performance of Saphyr is convenient for digital cytogenetics testing.
In that premise, Praxis Genomics, LLC,one of the clients of Bionano, obtained accreditation from the College of American Pathologists (CAP). With this, Praxis has become the first CAP-accredited diagnostic lab in the U.S. that uses genome analysis with Saphyr for the laboratory-developed test (LDT).
So, things are moving along smoothly for the company and Saphyr system is being acknowledged in the U.S.
On Dec 4, 2021, the company updated on the study of a single genome of a high functioning individual with Autism Spectrum Disorder (ASD). The CLIA certified diagnostic services subsidiary of Bionano Genomics, Lineagen in its recent publication of the Journal of Personalized Medicine, revealed the analysis ofProfessor Temple Grandin’sgenome with ASD. The results showed that Grandin’s improved management of many of her symptoms. That’s a major breakthrough for Lineagen in ASD genome study.
Where the biosciences firm is thriving in itsSaphyr system, the company is looking forward to regaining compliance with the NASDAQ listing rule of a minimum of $1 per share. Investors are taking this as a strong bullish factor in long-term growth, but what’s coming in the near-term?
There’s no doubt about the potential of Bionano Genomics’ Saphyr Systems. Revenues are expected to increase with Saphy revolution going in the U.S., Countries of Europe, and remaining part of the world. The long-term prospect looks energetic with the development of Saphyr. However, BNGO stock is trading vigorously and that could turn the stock bearish in the short term.