optical mapping

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.

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

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

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.

The genome mapping firm's instrument revenues were down 50 percent year over year in the fourth quarter, offset by an increase in consumables revenue.