BNGO - Why Is Bionano Genomics (BNGO) Stock Up 11% Today?
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Bionano Genomics (NASDAQ:BNGO) stock is rising higher on Wednesday following the publication of a study related to optical genome mapping (OGM).
According to the company, OGM was used to investigate a molecular subgroup of hepatocellular carcinoma (HCC). The study revealed replication stress-induced events, which can cause genomic instability in cancer cells.
But what does that mean? Genomic instability in cancer cells can lead to the activation of oncogenes. This can, in turn, result in disruptions of tumor suppressors. Investors will also note that HCC is the most common form of liver cancer.
Why Does This Matter?
The published study compared the use of OGM in detecting the factors above against whole genome sequencing (WGS). What it found is that WGS only detected 63% of the complex structural variations (SVs) discovered with OGM.
Erik Holmlin, PhD, president and CEO of Bionano Genomics, said the following in a news release.
“Cancer is often thought of as a disease of structural variation, and this study illustrates how OGM has the potential to help unravel the complex mechanisms involved in oncogenesis.”
BNGO stock is up 10.9% as of Wednesday morning but is still down 29.9% since the start of the year.
Investors seeking out more of the latest stock market news will want to stick around!
InvestorPlace has all of the hottest stock market news traders need to know about for Wednesday! That includes this morning’s biggest pre-market stock movers, the latest on e-commerce stocks, and more. You can check out all of this news and more from the following links!
More Stock Market News for Wednesday
- Today’s Biggest Pre-Market Stock Movers: 10 Top Gainers and Losers on Wednesday
- Why Are E-Commerce Stocks SHOP, POSH, WISH, TDUP Up Today?
- If You Invested $1,000 in AAPL Stock Right Before the 2008 Market Crash, Here’s What You’d Have Today
On the date of publication, William White did not have (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.
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