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The Israeli bioinformatics firm is also mulling an expansion into human genetics.
The firm reported preliminary revenues between $3.8 million and $4.2 million for the fourth quarter of 2020, up from $2.8 million in Q4 of 2019.
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.
The firm is hoping that researcher-generated data will soon be published in peer-reviewed papers, while it weathers the COVID-19 pandemic.
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.
The public-private partnership has published a paper on a list of indels larger than 50 bp that is already being used to develop new methods.
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 genome mapping firm had fallen out of compliance with respect to its loan agreement with Innovatus and will prepay $5 million toward the loan principal.
A survey by Nature finds that most researchers want scientific meetings to continue virtually or with a virtual component, even after the pandemic ends.
Bloomberg reports that the B.1.351 SARS-CoV-2 viral variant could prompt the formulation of better vaccines.
Certain blood proteins may be able to distinguish COVID-19 patients who will become critically ill from those who will not, the Atlanta Journal-Constitution reports.
In Genome Biology this week: algorithm to assess regulatory features, approach to integrate multiple single-cell RNA-seq datasets, and more.