Bionano Genomics Reports Preliminary Fourth Quarter and Full-Year 2022 Results
05 Janeiro 2023 - 10:00AM
Bionano Genomics, Inc. (Nasdaq: BNGO) today reported certain
unaudited preliminary financial and commercial highlights for the
fourth quarter and fiscal year ended December 31, 2022. The
Company’s full results for the fourth quarter and the fiscal year
ended December 31, 2022 are not yet available.
“We ended an outstanding year with a lot of momentum across all
facets of our business and have achieved or exceeded all of the
stated 2022 ELEVATE! milestones we set out at the beginning of
2022,” commented Erik Holmlin, PhD, president and chief executive
officer of Bionano. “Bionano issued revenue guidance for the first
time in 2022, and we not only came in at the high end of our
guidance each quarter, but we exceeded our total 2022 guidance
range. We were also pleased to see an incredible uptick in overall
awareness and adoption of optical genome mapping (OGM) across the
globe.”
Q4 2022 Highlights
- Revenues for the fourth
quarter 2022 are expected to be in the range of $8.1 million to
$8.4 million, an estimated increase of 12% to 16% compared
to $7.2 million in the third quarter of 2022 and an estimated
increase of 27% to 33% compared to the fourth quarter of 2021. Full
year 2022 revenue is expected to be in the range of $27.7 million
and $28.0 million, an estimated increase of between 54% and 56%
compared to 2021.
- Installed base of
Saphyr® systems totaled 240 at
year-end, which was an increase of 23 systems over third
quarter 2022 and represented a 46% increase over the 164 installed
systems reported at the end of 2021.
- Sold 4,781
flowcells, an increase of 49% over the fourth quarter of
2021.
- Completed acquisition of
Purigen Biosystems, which is expected to accelerate the
adoption of OGM due to anticipated improvements in Bionano’s
ultra-high molecular weight (UHMW) DNA sample preparation
workflow.
Achieved All Full-Year 2022 ELEVATE!
Milestones
- Launched OGM laboratory
developed tests (LDTs) for hematological malignancy and
genetic disorder applications through Bionano Laboratories
- Pre-commercial version of
next generation OGM system running in the field with a
planned commercial launch in first half of 2023
- Developed
and released enhanced DLS G2 labeling and SP Next DNA isolation
kits which enable sample to results in as little as 3
days for cancer samples
- In partnership with Hamilton,
released an automated version of Bionano’s DNA isolation
chemistry
- NxClinical™ software version
7.0, which is the version of NxClinical software enabled for OGM
data analysis, is being used in the field and full
commercial release for applications in hematological malignancies
is planned for the first half of 2023
- Met all previously stated
2022 milestones for prenatal, postnatal and hematological
clinical trials, including: study enrollment targets; completion of
postnatal study, which has been submitted for publication as a
pre-print; interim publication of the prenatal study, which was
published in December 2022 as a pre-print; and initiation of the
solid tumor trial.
“We’ve been working hard to achieve the revenue growth we expect
to report for the fourth quarter and full year 2022 compared to the
same periods in 2021,” added Chris Stewart, chief financial officer
of Bionano. “We believe this momentum has helped to lay the
groundwork for a very exciting year in 2023.”
Bionano has not completed preparation of its financial
statements for the fourth quarter or full year of 2022. The revenue
ranges presented in this press release for the fourth quarter of
2022 and for the year ended December 31, 2022 are preliminary and
unaudited, based on management’s initial review of the information
presented, and are thus inherently uncertain and subject to change
as Bionano completes its end-of-period reporting process and
related activities for the fourth quarter of and full year 2022.
Bionano is in the process of completing its customary year-end
close and review procedures as of and for the year ended December
31, 2022, and there can be no assurance that final results for this
period will not differ from these estimates. During the course of
the preparation of Bionano's consolidated financial statements and
related notes as of and for the year ended December 31, 2022,
Bionano’s independent registered public accountants may identify
items that could cause final reported results to be materially
different from the preliminary financial estimates presented
herein. Additional information and disclosures would be required
for a more complete understanding of Bionano’s financial position
and results of operations as of and for the fourth quarter and
year-ended December 31, 2022. Accordingly, undue reliance should
not be placed on this preliminary information.
About Bionano Genomics
Bionano Genomics is a provider of genome
analysis solutions that can enable researchers and clinicians to
reveal answers to challenging questions in biology and medicine.
The Company’s mission is to transform the way the world sees the
genome through OGM solutions, diagnostic services and software. The
Company offers OGM solutions for applications across basic,
translational and clinical research. Through its Lineagen,
Inc. d/b/a Bionano Laboratories business, the
Company also provides diagnostic testing for patients with clinical
presentations consistent with autism spectrum disorder and other
neurodevelopmental disabilities. Through its BioDiscovery business,
the Company also offers an industry-leading, platform-agnostic
software solution, which integrates next-generation sequencing and
microarray data designed to provide analysis, visualization,
interpretation and reporting of copy number variants,
single-nucleotide variants and absence of heterozygosity across the
genome in one consolidated view. For more
information,visit www.bionanogenomics.com, www.bionanolaboratories.com or www.biodiscovery.com
Forward-Looking Statements of Bionano
Genomics
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995. Words such as “believe,” “estimate,” “expect,” “may,” “plan,”
“will,” “intend” and similar expressions (as well as other words or
expressions referencing future events, conditions or circumstances)
convey uncertainty of future events or outcomes and are intended to
identify these forward-looking statements. Forward-looking
statements include statements regarding our intentions, beliefs,
projections, outlook, analyses or current expectations concerning,
among other things, and the preliminary measures of our financial
performance, including our fourth quarter and 2022 year-end revenue
guidance, and our prospects for 2023. Each of these forward-looking
statements involves risks and uncertainties. Actual results or
developments may differ materially from those projected or implied
in these forward-looking statements. Factors that may cause such a
difference include the risks and uncertainties associated with:
adjustments to these preliminary measures of financial performance
resulting from, among other things, the completion of our
end-of-period reporting processes; the timing and amount of revenue
we are able to recognize in a given fiscal period; the impact of
adverse geopolitical and macroeconomic events, such as the COVID-19
pandemic and the ongoing conflict between Ukraine and Russia, on
our business and the global economy; general market conditions;
changes in the competitive landscape and the introduction of
competitive technologies or improvements to existing technologies;
changes in our strategic and commercial plans; our ability to
obtain sufficient financing to fund our strategic plans and
commercialization efforts; the ability of medical and research
institutions to obtain funding to support adoption or continued use
of our technologies; and the risks and uncertainties associated
with our business and financial condition in general, including the
risks and uncertainties described in our filings with the
Securities and Exchange Commission, including, without limitation,
our Annual Report on Form 10-K for the year ended December 31, 2021
and in other filings subsequently made by us with the Securities
and Exchange Commission. All forward-looking statements contained
in this press release speak only as of the date on which they were
made and are based on management’s assumptions and estimates as of
such date. We do not undertake any obligation to publicly update
any forward-looking statements, whether as a result of the receipt
of new information, the occurrence of future events or
otherwise.
CONTACTSCompany Contact:Erik
Holmlin, CEOBionano Genomics, Inc.+1 (858)
888-7610eholmlin@bionanogenomics.com
Investor Relations:Amy ConradJuniper Point+1
(858) 366-3243amy@juniper-point.com
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