Financial OutlookDespite a positive view on Saphyr technology, capital needs remain an ongoing concern, leading to a downgrade of BNGO shares to Hold.
Potential DilutionThe company may need to leverage its ATM, adding substantial dilution given the low share price.
Stock PerformanceSince the financing, BNGO shares have declined by approximately 50% to $1.30, well below the conversion price of $2.86.