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Why Bionano Genomics, Ocugen Are Rallying Today

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Why Bionano Genomics, Ocugen Are Rallying Today

Bionano Genomics, Inc. (NASDAQ: BNGO) and Ocugen, Inc. (NASDAQ: OCGN) were among the early movers among biopharma stocks.

Bionano Gains On Adoption of Genomic Mapping System By U.K. Labs: Bionano said its Saphyr system for optical genome mapping has been adopted by two large labs belonging to the National Health System of the U.K.

The adoption has been through the company's reagent rental program, which includes a commitment to purchase consumables over time in connection with the placement of a system.

The labs are using Saphyr to characterize the genomes of patients with heme malignancies. One of them will also evaluate Saphyr for the detection of structural variants in patients with developmental delay, infertility, rare disease, and other genetic diseases as well, the company said.

Bionano was adding 3.33% to $5.57

Related Link: The Daily Biotech Pulse: Moderna To Supply Variant-Specific Vaccine To Israel, Roche's Diagnostics Business Comes to Rescue

Ocugen Rallies On Partner Bharat Biotech's Positive Vaccine Data: Ocugen said its co-development partner Bharat Biotech announced positive results from the second interim analysis of the Phase 3 study of Covaxin, a whole virion inactivated COVID-19 vaccine candidate.

Covaxin demonstrated a vaccine efficacy in mild, moderate, and severe COVID-19 disease of 78% with efficacy against severe COVID-19 disease alone of 100%, the company said.

See also: How to Buy Bionano Genomics Inc. (BNGO) Stock

"The safety and efficacy demonstrated by COVAXIN is remarkable because of the prevalence of several variants of the coronavirus circulating at the time of the trial. This vaccine is based on a proven technology platform and the company plans to consider clinical development in special populations such as children," said Dr. Bruce Forest, member of the vaccine scientific advisory board of Ocugen.

Ocugen was soaring 18.66% to $6.55.

 

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