Say we won’t! We started buying in September and the company has released nothing but incredible news since (except for the two secondary offerings) but…
“The company’s cash position is in better shape than its Q4 results indicate. Since the beginning of this year, Bionano has raised around $335 million through two stock offerings. CFO Chris Stewart said that Bionano believes its cash stockpile “significantly de-risks the company, solidifies our financial future, and allows us to focus on the achievement of our long-term vision to disrupt genomics through the global adoption of Saphyr.”
Bionano has a lot to look forward to in the next few quarters. It expects to obtain accreditation for Saphyr-based laboratory-developed tests for acute lymphocytic leukemia (ALL) and facioscapulohumeral muscular dystrophy (FSHD) in some European markets in Q2. The company plans a commercial release of prenatal assays and an expansion of the menu of its pediatric assays in Q3.
The fourth quarter of 2021 will be an especially busy one. Bionano anticipates the validation of three of its laboratory-developed tests with billing codes. It also expects to have a prototype of its next-generation high-throughput Saphyr system ready.
If all goes according to plan, Bionano will finish this year with a much larger installed base. The company projects that it will have 150 systems installed by the end of Q4 2021 — a 50% jump from the end of 2020.”