Can a single technology be applied to genetic disorders, tumor research and hematology? For up-and-coming biotechnology company BioNano Genomics (NASDAQ:BNGO), the answer is yes. BNGO stock holders are betting on the company’s proprietary Saphyr System to address multiple under-addressed medical issues.
It’s been a terrific bet so far as BNGO stock has powered its way to new short-term highs. Folks who stayed the course with this low-priced stock are now reaping the benefits.
That’s the nature of the financial markets: They’ll test your patience and your ability to stay in the trade through thick and thin. So now it’s a question of whether there could be more gains ahead for BNGO shareholders.
If you believe in the future of genomics, then BioNano is a solid company to get behind. In the long term, the Saphyr System may prove to be a real game changer and BNGO stock’s upward trajectory could persist for quite a while.
BNGO Stock at a Glance
Shares are up by 22% for the day on the afternoon of Jan. 15. This might sound shocking, but it’s actually not unusual for this particular stock.
Let’s rewind a bit. As recently as November, BNGO stock was trading at just 50 cents. That wasn’t a good thing because the Nasdaq Exchange has been known to sometimes de-list stocks if their prices get too low for too long.
Thankfully, that wouldn’t be an issue for very long as BNGO stock rocketed upwards in late December. In fact, on Jan. 4 the share price surpassed the $7 level.
There was a pullback in the share price after that. Nevertheless, the bulls regained control and pushed BNGO stock back up above $8 in mid-January.
In other words, there were plenty of bright green days and sizable daily moves in BNGO stock. Plus, the shareholders will be glad to know that the Nasdaq Exchange confirmed the stock’s compliance with its listing requirements as BNGO had traded at or above $1 for 10 consecutive business days.
What Is the Saphyr System?
Even if you appreciate the price action of BNGO stock, you probably won’t want to own it unless you have at least a basic understanding of BioNano’s most important product.
That product is known as the Saphyr System. The company describes this product as “a genome imaging tool for high-speed, high-throughput structural variant detection and analysis with exceptional sensitivity and specificity.”
Simply put, by imaging DNA molecules, the Saphyr System allows medical professionals to detect structural variants in genes that other currently available technologies might miss.
The sensitivity in the Saphyr System is quite impressive. According to the company, it “reveals structural variants (>500 bp), at sensitivities as high as 99%, with false positive rates below 2%.”
Wide Array of Applications
Along with the Saphyr System’s ultra-sensitivity to structural variants, prospective investors should also be impressed with its broad applicability.
The most obvious application would be identifying undiagnosed genetic disorders. Along with that, the Saphyr System can be instrumental in identifying genes of interest and their locations.
Yet, there are even more applications to this product. For example, the Saphyr System could detect somatic rearrangements in heterogeneous tumors. It could also detect hematologic malignancies at amazingly high resolutions. Really, it’s mind-blowing to consider the possibilities.
The Takeaway
With the Saphyr System, BioNano is effectively establishing itself as a potential market leader in digital cyto-genetics.
It’s just one product, but it’s a powerful one and BNGO stock traders should watch for further developments and avoid betting against BioNano Genomics.
On the date of publication, neither Louis Navellier nor the InvestorPlace Research Staff member primarily responsible for this article held (either directly or indirectly) any positions in the securities mentioned in this article.
