Why Bionano Genomics Stock Surged Today

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Shares of Bionano Genomics (NASDAQ: BNGO) hit a record high on Friday. By the close of trading, the genome analysis company’s stock price was up 17%.

On Thursday, Bionano Genomics released a study showing that its Saphyr optical genome mapping (OGM) system could be used to analyze a wide variety of solid tumors in cancer research. In every sample tested, Saphyr was able to identify structural variants (SVs) affecting key cancer genes.  “OGM will yield unprecedented insights into solid tumor diagnosis and treatment,” study lead Dr. James Broach said in a press release.

Image source: Getty Images.

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