Bionano Genomics is a life sciences instrumentation company which focuses on the genome analysis subspace. Shares of the genetic testing specialist jumped on Tuesday after announcing potential applications of its patented Saphyr optical genome mapping system was announced. Bionano’s system recently discovered structural variants in a person’s genome that may predispose them to severe COVID-19 illness.
This process will help identify individuals who are at high risk to the virus and would help hospitals and research centers understand the factors that exacerbate a person’s symptoms. In addition, Bionano’s Saphyr system can also detect large structural variations for many other diseases and conditions, such as cancer and developmental disorders.
The application of this system will be quite useful in in the long term, far beyond the scope of the current pandemic. The company is currently valued at roughly $2.1 billion after a tremendous Q4 of 2020, gaining over 1,300% since October. BNGO is rising from predicted future earnings and the company is poised for a bullish 2021 assuming trials of their Saphyr OGM system continue to prove fruitful.