Bionano Genomics, Inc. (NASDAQ:BNGO) Q3 2023 Earnings Call Transcript

And so, when we start to see folks raising their hands to adopt Stratys and that they’re new customers, the connection there is that they actually have higher volume utilization plans for OGM and their labs. So, I think that indicates that we developed the right product for a segment of the market that we’re not yet penetrating. Now, over time, I think we will see the conversion of Saphyr to Stratys systems, but the purpose of Stratys is to really bring in new customers, new users who are currently on the sidelines.

Unidentified Analyst: Okay. And a last one from me. You started the call highlighting the Human Genetics conference that you attended. Could you give us a sense of the feedback from that compared to, say, a year ago? Would you say there is a notable increase in the labs’ presentations that included OGM this time around? And also, related to that, any particular area that you are noticing increased OGM adoption applications, say rare diseases where you’re seeing an increase in publications, basic versus clinical research? Any color there?

Erik Holmlin: Yeah. So, ASHG is really one of the premier meetings, conferences around the world. Takes place every year around this time in the fall. And ASHG is somewhat differentiated from others in that it has a heavy orientation towards research, but there’s a lot of clinical folks there as well. And I would say that if we compare the presence of optical genome mapping in that environment this year to that of last year, what I think is — and of course, this is anecdotal based on my observations, but I’ve reviewed those observations from all of our folks who are there. The observation is that we are really in the regular conversation of techniques that are intended to be used throughout clinical translational research. And the kinds of clinical translational research that we’re talking about here are the understanding of genetic diseases.

Now that may be in a workflow where a patient gets tested and subsequently enrolled in a research program because the standard of care didn’t really reveal any useful information. That happens about half the time, by the way. So that’s the kind of research that’s going on. The other kind of research that’s going on is to really use optical genome mapping to explain very complex disorders. An example that came up in our meeting was neural tube defects, things like spina bifida and other disorders. And the genetics of these diseases are incredibly poorly understood, and what’s amazing is that optical genome mapping is unlocking an incredible new understanding. Why is that important? Therapeutic applications. So, treatment of these disorders can be developed on the basis of this new information.

And so, an abundance of these types of presentations, posters, talks, some of them in Bionano sessions that we organized, but amazingly as part of the regular program, we see optical genome mapping featured very prominently. So, our observation is that with regard to that community, optical genome mapping is really part of the mainstream. And if you compare that to a year ago, it was just beginning. I think a year ago, there was a dedicated session in the regular program to optical genome mapping, but it was something that was really new. And the last thing that I’ll comment on is that there were a number of important publications that are intended to represent industry-wide views. So the Thompson & Thompson Genetics and Genomics Manual, which came out earlier in the year, this was something that we were able to talk about, and the inclusion of optical genome mapping into that edition, the ninth edition, is really a step forward around the awareness of what we’re doing.