A recently published preprint study demonstrated the superiority of the company's optical mapping technology for detecting large structural variations in de novo sequencing data.
For the quarter ended Sept. 30, the company reported $2.2 million in revenues, down from $3.3 million in Q3 of 2019 but beating the average Wall Street estimate.
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.
Because of coronavirus-related shutdowns of customer labs, the San Diego-based firm saw decreased revenues in all geographic regions, especially outside the US.