Shares of Bionano Genomics Inc. BNGO fell 0.8% in premarket trading Monday, after the life sciences instrumentation company said it had about $2.1 million in accounts with SVB Financial Group’s SIVB Silicon Valley Bank, which was closed by regulators last week. That exposure represented about 41% of the $5.1 million the company had in cash and cash equivalents as of Dec. 31. The company also had $108.1 million in available-for-sale (AFS) securities at the end of 2022. “According to the FDIC [Federal Deposit Insurance Corporation], all insured depositors will have full access to their insured deposits no later than Monday, March 13, 2023,” the company said in a statement. “The FDIC will pay uninsured depositors an advance dividend within the next week. Uninsured depositors will receive a receivership certificate for the remaining amount of their uninsured funds.” The stock, which dropped 8.4% over the past two sessions, has plummeted 40.6% over the past three months through Friday, while the S&P 500 SPX has shed 3.9%.
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