Bionano Genomics to Report First Quarter 2020 Financial Results on June 18, 2020

SAN DIEGO, May 14, 2020 (GLOBE NEWSWIRE) -- Bionano Genomics, Inc. (NASDAQ: BNGO), a life sciences instrumentation company that develops and markets Saphyr, a platform for ultra-sensitive and ultra-specific structural variation detection in genome analysis, today announced that the company is relying on the order issued by the U.S. Securities and Exchange Commission to delay the filing of its Quarterly Report on Form 10-Q for the quarter ended March 31, 2020 due to circumstances related to the COVID-19 pandemic. The company plans to file the Form 10-Q and report its financial results for the quarter ended March 31, 2020 on June 18, 2020. In addition, due to uncertainties regarding the duration and impact of the COVID-19 pandemic, the company is suspending any guidance, anticipated timelines or other outlooks previously provided for 2020. The company also announced selected preliminary, unaudited, first quarter 2020 financial results and recent key financial and business highlights as summarized below.

“While we saw an increasing interest in our data and growth in placements of the Saphyr system in the early part of the year, we and our customers have been impacted by the COVID-19 pandemic,” said Erik Holmlin, Ph.D., CEO of Bionano. “What began initially as a disruption in China spread across the globe and forced labs using Saphyr to redirect resources to COVID-19 testing or restrict their employees to working off-site, which meant that most Saphyr users were unable to operate their Saphyr instruments and others were unable to take delivery of new instruments. We are adapting to the new challenges brought on by the pandemic and we are seeing new opportunities at the same time. Our operations are fully functional, we are supplying products to customers who are able to receive and use them and we are receiving samples in-house, which we process as part of our commercial services offering. Our sales team is leveraging a number of technologies to reach customers in new ways, and we are finding highly receptive audiences who are learning more about Bionano and how it transforms cytogenetics workflows and reveals previously undetected genomic variations. We are encouraged by the growing level of interest we see and expect it to carry over into momentum in the second half of 2020 when our markets begin to reopen.”