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BNGO - Bionano Seeking Empty Space For Saphyr In Crammed Genomics Labs
Bionano Genomics Inc.
Recent advancements in DNA therapies and cellular biology excited retail investors who flocked to penny stocks as speculative trade in the industry, pushing up BNGO shares.
BNGO's new common equity offerings enhance the balance sheet, giving the company another fighting chance to market its product Saphyr.
The current share price seems at the upper range of valuation, lowering odds of a rebound after the 50% decline from the February peak.