The San Diego-based genomic analysis firm reported $3.3 million in revenue, driven by growth in North America sales, offset by a decline in international sales.
Shares of firm fell 47 percent on the news it will sell 20.9 million common shares along with warrants to purchase up to the same number of shares.
The firm is offering approximately 13.8 million shares and the same number of warrants to purchase shares, which will be sold together.
The San Diego-based genome mapping company attributed the drop in revenues to fewer international sales of its Saphyr platform.
The company reported $1.9 million in Q1 revenues amid a widened net loss of $7.9 million that was driven by increased operating expenses.
The company also entered into two separate financing agreements totaling $41.5 million with Innovatus Life Sciences Lending Fund, East West Bank, and Aspire Capital.
A team led by researchers at the University of California, San Francisco generated optical genome maps for 154 individuals from more than two dozen populations.
Several groups are comparing Bionano with standard cytogenetic assays like karyotyping, FISH, or array CGH for blood cancer or genetic disease testing.
With Hi-C mapping, FISH imaging insights, and other approaches, researchers identified genome organization plasticity and between-allele variability.
Circulomics, Bionano, Sage Science, RevoluGen, and others have been developing methods for extracting DNA hundreds of kilobases and up to megabases in length.
The New York Times looks at companies using genomic tools to try to quickly identify the cause of patients' infections.
The White House has asked for $2.5 billion in funding to address the COVID-19 outbreak, according to the Associated Press.
A resignation at the Marine Biological Laboratory highlights that institutions are unsure of how to handle researchers previously found to have violated codes of conduct, Nature News says.
In PNAS this week: immune responses that affect heart transplant rejection risk, gene variants associated with thiopurine toxicity, and more.