Business
Bionano Genomics Reports Third Quarter 2021 Financial Results and Highlights Recent Business Progress
– Acquisition of BioDiscovery transforms Bionano from the structural variation company into a data solutions provider with the potential to offer the most
About this update from Bionano Genomics, Inc.
[{"type":"text","content":"– Acquisition of BioDiscovery transforms Bionano from the structural variation company into a data solutions provider with the potential to offer the most comprehensive variant analysis platform in genomics – Total revenue of $4.7 million, a 112% year-over-year total revenue increase, driven by growth in the Saphyr® installed base – Record number of Saphyr shipments and installations for any quarter to date – Launched protocols for ultra-high molecular weight DNA isolation from amniocentesis and chorionic villus sampling (CVS) for prenatal applications – Remaining 2021 milestones on track – Strong balance sheet with $326.1 million in cash and short term investments as of September 30, 2021 – Conference call today, Thursday, November 4, at 4:30 pm ET SAN DIEGO, Nov. 04, 2021 (GLOBE NEWSWIRE) -- Bionano Genomics, Inc. (NASDAQ: BNGO) today reported financial results and business achievements for the quarter ended September 30, 2021 and highlighted recent corporate updates. “We had the strongest quarter in Bionano’s history with a record number of Saphyr shipments and installations, including adoptions at several notable sites, including leading hospitals, cytogenetics labs and academic medical centers around the world. With the acquisition of BioDiscovery, a leading software company with best-in-class solutions for analysis, visualization, interpretation and reporting of genomics data. for microarray and next-generation sequencing (NGS), we are transitioning Bionano Genomics from being the structural variation company into a data solutions provider. We believe this will enable access to an expanded market opportunity by leveraging the NGS market through software. We are extremely pleased with the progress we are making and the fact that outstanding leaders are joining Bionano to join us in transforming the way the world sees the genome,” commented Erik Holmlin, PhD, Chief Executive Officer of Bionano Genomics. Chris Stewart, Chief Financial Officer of Bionano added: “Q3 was another excellent quarter. We continued to achieve meaningful year-over-year revenue growth and maintained a strong balance sheet with $326 million of cash and marketable securities as of the quarter-end. We also remain on track to achieve the milestones we laid out in the first quarter of 2021.” Recent Business Highlight On October 18, 2021, we closed our acqui...