Bionano Genomics (NASDAQ:BNGO), a company in the life sciences field, published an article on Friday about how well optical genome mapping (OGM) works to find cellular-level gene changes in acute myeloid leukemia. The Saphyr system is sold by Bionano Stock (NASDAQ:BNGO), a company established in San Diego, California, to analyze genomes and comprehend genetic variation and function using OGM.
According to the company, the study discusses the possibility of using OGM to detect cytogenetic anomalies in AML samples. This includes the addition of new pathogenic information in 13% of cases and 100% concordance with conventional cytogenetic approaches for the detection of structural variations (SVs) and copy number variants (CNVs), respectively.
OGM also discovered additional genetic events in 12% of samples, which may affect the recommended clinical care, including entry into clinical trials, and allow for risk stratification.
The researchers said that OGM “may find things that would change the recommended clinical care in 4% of cases or make cases eligible for clinical trials in 8% of cases.”
The study that was published by the American Society of Hematology was started by the Cancer Genomics Consortium. This group is made up of pathologists who set standards for care and testing in pathology through their memberships in several medical societies.
Similar publications have caused the price of Bionano (NASDAQ:BNGO) to move in the past. In August, BNGO went up after a report said that OGM could be used instead of the Southern blot, which is the most common test for a group of genetic diseases called repeat expansion disorders.
Implied increase of 474% for Bionano genomics
BNGO Stock Outlook
According to one Wall Street analyst, the small-cap genome analysis business Bionano Genomics (BNGO) is a second supercharged growth stock with enormous upside. If Oppenheimer analyst Francois Brisebois is right, Bionano shares will reach $12 in 2023, representing a cool 474% increase.
Even though Brisebois is the current analyst for Bionano at Oppenheimer, Kevin DeGeeter was the one who first made the case for Bionano Genomics trading at $12. DeGeeter says that Saphyr, an optical genome mapping (OGM) technology made by Bionano, works better than other OGM methods at finding differences in the structure of the genome. It is also quicker and less expensive.
When it comes to Bionano genomics, investors should not be concerned about the lack of evidence that Saphyr works. Theoretically, Saphyr might be a crucial tool for academics and pharmaceutical companies fighting diseases that are challenging to treat.
Its strong financial position is another plus for Bionano Genomics. After its share price began to parabolically rise in 2021, management made the wise decision to issue stock in order to raise a large sum of money. At the end of September, the corporation had $180 million in cash, cash equivalents, and securities that were available for sale. As the business keeps innovating and looks for methods to increase Saphyr’s utility, that will more than make-up for any quarterly losses.
Bngo Stock Rises As Optical Genome Mapping Is Better At Detecting Mutations
Featured Image – Pexels © Mikhail Nilov
Author Jowi Kwasu 
