If Bionano’s (BNGO) optical genome mapping (OGM) system Saphyr is to gain mainstream adoption, it has to show its performance improves on standard of care (SOC) methods. So far, it appears to be doing just that.
There have been several publications so far demonstrating its usefulness and on Friday, the company announced the first publication showing OGM’s role as a replacement for karyotyping (KT) for products of conception (POC) sample analysis. This is a familiar type of genomic interrogation, which seeks to find the inherited cause of recurrent loss of pregnancy.
Spotting chromosomal abnormalities can potentially offer genetic diagnosis that can establish the reason for miscarriage and or recurrent risk. In fact, a common reason of early pregnancy loss is due to chromosomal abnormality – at least 5% of women attempting to get pregnant encounter repeated loss of 2 or more consecutive miscarriages.
“Unfortunately,” notes Maxim analyst Jason McCarthy, “Current standard of care (karyotyping + chromosomal microarray [CMA]) often is unable to provide an answer due to challenges relating to the requirement of culturing (needs live cells), the presence of microbial or maternal cell contamination (MCC), or poor chromosome morphology.”
But in the study using a workflow of Saphyr – instead of karyotyping – with CMA, a result was achieved in 93% (29/31) of the cases vs. the 9.6% (3/31) obtained with standard of care. Additionally, the diagnostic yield was 45.1% (14/31) with this suggested workflow compared to conventional cytogenetic testing which only led to a diagnostic yield of 6.4% (2/31).
McCarthy has been banging the drum for Bionano for a while now, and the latest data further bolsters the bull case.
“Product of conception samples are a particularly challenging sample type and this study demonstrates how the inclusion of OGM can play a key role in improved diagnostic workflows to increase yield,” the analyst explained.
To this end, McCarthy reiterated a Buy rating for BNGO shares along with a $6 price target. The implication for investors? Upside of a bountiful 170%. (To watch McCarthy’s track record, click here)
Does the rest of the Street think BNGO can outperform in the long run? As it turns out, other analysts say yes. 3 “buys” compared to no “holds” or “sells” assigned in the last three months add up to a “strong buy” consensus rating. At $7.75, the average price target puts the upside potential at 253%. (See BNGO stock forecast on TipRanks)
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Disclaimer: The opinions expressed in this article are solely those of the featured analyst. The content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment.
