Biotechnology company Bionano Genomics Inc. (NASDAQ: BNGO) has seen its share price rise more than 170% in its first few weeks of 2021. BNGO’s share price rose 21.29% to $8.43 at the close on January 15. One of the factors driving company growth has been reports of doctors’ experiences of using its advanced platform to analyze solid cancers.
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Several doctors attended the Next Generation Cytogenomics Symposium and shared their experiences with the Saphyr Optical Genome Mapping System (OGM) developed by Bionano Genomics. The reports contained detailed descriptions of a number of solid tumors, including the brain, breast, liver, and eye cancer.
Saphyr provides experts with a clear understanding of the structural changes that occur in solid tumors. The use of advanced software and tools enables more accurate predictions and more targeted treatment planning while saving time and money, increasing its competitive edge against other companies in developing new approaches.
It is important to note that Bionano Genomics Inc (BNGO) raised $ 101.8 million last week in an equity placement to accelerate growth. As is the case for other biotech companies, Bionano Genomics, however, is a high-risk investment, as well. Therefore, investors can expect some volatility in the stock market in the upcoming quarters. However, in the long run, Bionano Genomics could see growth since its next-generation cancer analysis platform could become the de facto standard in next-generation medicine.