Bionano Genomics (NASDAQ:BNGO) stock is rising higher on Wednesday after providing an update on its Long String VANTAGE product.
This is a system that handles “automated, high throughput isolation of ultra high molecular weight (UHMW) DNA.” It’s used for optical genome mapping (OGM) and is now available for commercial purchase.
Bionano Genomics and Hamilton have been working together on this product since announcing their collaboration earlier this year. With today’s announcement, the two companies now expect to start shipping deliveries in the first quarter of 2023.
Bionano President and CEO Erik Holmlin, PhD, said the following in a press release:
“The analysis of UHMW DNA can provide a more thorough way of detecting genomic aberrations that may be missed by traditional cytogenetic methods. Bionano and Hamilton look forward to seeing customers benefit from this solution in the coming months, which can reduce time-to-results, reduce hands-on-time and improve OGM performance by standardizing the process of UHMW DNA isolation.”
BNGO Continues to Rally Today
Investors that watched BNGO stock yesterday will remember that it rallied without any company-specific news. That rally is continuing today as strong trading sends shares higher on the Long String VANTAGE launch news. This has roughly 8 million shares changing hands currently, as compared to the daily average trading volume of 8.2 million.
BNGO stock is up 14.8% as of Wednesday morning but down about 17% since the start of the year.
Investors looking for more of the latest stock market news will want to stick around!
InvestorPlace has all of the most recent stock market news traders need to know about on Wednesday! That includes what has shares of Enphase Energy (NASDAQ:ENPH), Twitter (NYSE:TWTR) and TransCode Therapeutics (NASDAQ:RNAZ) moving today. You can get up to speed on all of this at the links below!
More Wednesday Stock Market News
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On the date of publication, William White did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.