Even if you’ve never had to analyze a genome yourself, you’ll probably agree that they’re quite complicated. But what would you do if you did need to analyze a genome to diagnose a patient or solve a key scientific question in the course of research? If you don’t have an answer to this (large, open-ended, highly technical) question, don’t worry: BioNano Genomics (NASDAQ: BNGO) might.
As its name implies, the company makes laboratory equipment that helps researchers and clinicians answer a narrow subset of those thorny genomics questions. In fact, its hardware is the only product of its kind, which is both exciting and slightly scary. Companies making new hardware to cater to new markets can hit it big — or stumble tragically if a competitor ascends more rapidly across the freshly beaten path. For investors, then, the question is: Which of those outcomes is more likely for BioNano?