Shares of Bionano Genomics (NASDAQ: BNGO) shot up in pre-market trading on Wednesday as the provider of genome analysis solutions announced that a study by Sorbonne Université indicated that whole genome sequencing (WGS) identified only 63% of the structural variations in liver cancer versus optical genome mapping (OGM).
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This study used a workflow that combined both OGM and WGS to maximize the detection of pathogenic variants and investigate complex rearrangements when it comes to liver cancer.
This workflow also allowed researchers to compare OGM to WGS, and it indicated that OGM revealed a median of 1.4 times more structural variations than WGS.
Erik Holmlin, PhD, President and CEO, Bionano Genomics, commented, “Cancer is often thought of as a disease of structural variation, and this study illustrates how OGM has the potential to help unravel the complex mechanisms involved in oncogenesis. It shows that OGM can be more sensitive for detecting large structural variations than WGS and it provides a nice example of how complementary the two methods are.”
This study is significant for Bionano as the company offers OGM solutions, diagnostic services, and software.
Is BNGO a Good Stock?
Only two analysts have covered the stock in the past three months, and both have a Buy rating. The average price forecast for BNGO stock is $9, implying upside potential of 341.2% at current levels.
