Bionano Genomics, Inc. (BNGO) CEO Erik Holmlin at 2nd Annual Maxim Group Virtual Growth Conference (Transcript)

Summary of Bionano Genomics, Inc. Conference Call Company Overview - Company: Bionano Genomics, Inc. (NASDAQ:BNGO) - Industry: Genomics and Biotechnology - Technology: Optical Genome Mapping (OGM) Key Points and Arguments 1. Commercial Progress: Bionano Genomics achieved $80 million in revenues for the previous year and installed 164 Saphyr systems, exceeding their goal of 150, representing a 65% year-over-year growth in the installed base [4][33] 2. Adoption of Technology: The company doubled the number of consumable flow cells sold, indicating a growing adoption of their methodology and systems for in-house genome analysis [4] 3. Acquisition of BioDiscovery: The acquisition of BioDiscovery, which developed the NxClinical software, is aimed at integrating optical genome mapping data with next-generation sequencing, enhancing customer experience and driving commercial adoption [5] 4. Complementarity with Sequencing: Bionano emphasizes that OGM complements rather than competes with next-generation sequencing, providing a more comprehensive view of the genome [5][11] 5. Resolution Improvement: OGM increases the resolution of structural variation detection from 5 million base pairs (karyotyping) to 500 base pairs, which is critical for cancer testing and genetic diseases [10] 6. Clinical Utility: The technology has been shown to find significantly more pathogenic variants, with studies indicating double-digit percentage increases in detection rates compared to traditional methods [21] 7. Workflow Automation: NxClinical automates the integration of optical genome mapping with sequencing, significantly speeding up the process of generating reportable results [19] 8. Future of Cytogenetics: Bionano positions OGM as the future of cytogenetics, suggesting it will replace traditional methods like karyotyping and FISH in many applications [25][28] 9. Market Focus: The company is targeting academic medical centers for adoption, emphasizing the need for reimbursement pathways to facilitate broader use of OGM [30] 10. 2022 Goals: Bionano aims to increase the installed base from 164 to 240 systems by the end of 2022 and is focusing on obtaining a Category One CPT code for reimbursement [33] Additional Important Content - Clinical Testing Challenges: 50% to 70% of clinical tests for genetic diseases and cancer return no pathogenic variant findings, highlighting the need for higher resolution methods like OGM [21] - Real-World Applications: Examples from clinical settings, such as the Children's Hospital of LA, demonstrate how OGM can identify druggable targets in pediatric cancers that traditional sequencing might miss [22][23] - Integration of Technologies: The integration of OGM with existing workflows is seen as a way to streamline processes and improve diagnostic capabilities in laboratories [27][30] This summary encapsulates the key insights and developments discussed during the conference call, highlighting Bionano Genomics' strategic direction and the potential impact of its technology in the genomics field.