Bionano Genomics (NASDAQ:BNGO) stock is taking off on Monday after announcing results from a recent study.
The study had the company doing a genome analysis of Professor Temple Grandin. Grandin has Autism Spectrum Disorder (ASD) and is high functioning. The test reveals details that were beneficial to the professor.
The evaluation revealed sequence variants in three ASD risk genes. The results showed one identified gene affecting ASD and two neurodevelopmental genes that could affect the person’s ASD. Other pathogenic variants were seen in some genes that may contribute to health issues that the professor suffers from.
Erik Holmlin, PhD, CEO of Bionano Genomics, said this about the positive news for BNGO stock.
“This publication shows the importance of genetic testing for ASD and neurodevelopmental disorders. Widespread adoption of genetic testing is important to patients and families because it creates a better understanding of ASD, but more importantly, informs families and patients about immediate health risks associated with ASD that could personalize treatment options and provide potentially life-saving information.”
With this portion of the study complete, Bionano Genomics plans to expand upon it. This will have it doing a full analysis of Grandin’s genome via optical genome mapping with Saphyr. It expects to learn more about ASD as a result of this process.
BNGO stock is seeing heavy trading today on the news. As of this writing, more than 188 million shares have changed hands. Contrast that to the stock’s daily average trading volume of 32.24 million shares.
BNGo got a boost last week on a Nasdaq Exchange update. The company got an extension that allows its shares to stay on the market longer. If it can keep the positive momentum going, it shouldn’t have to worry about delisting.
BNGO stock was up 73.1% as of Monday morning.
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.