Bionano Genomics

The deal consists of cash, Bionano common stock, and assumption of liabilities. Bionano has also paid off $1.1 million loaned to Lineagen under the CARES act.

As the firm predicted, second quarter revenues were down due to lab closures associated with COVID-19 and totaled $1.2 million.

Because of coronavirus-related shutdowns of customer labs, the San Diego-based firm saw decreased revenues in all geographic regions, especially outside the US.

Because of COVID-19, the San Diego-based firm said it was unable to ship new instruments and many users were unable to operate their existing ones.

The San Diego-based genome mapping firm's share price fell below $1.00 for 30 consecutive days, triggering a noncompliance notification from Nasdaq.

With the help of Bionano Genomics, Genoox, Rescale, and Amazon, the investigators aim to study 1,000 patients with SARS-CoV-2 to better understand the disease.

The investment bank said the company's molecular diagnostics have the potential to replace microarrays for cytogenetics analysis.