Shares of Bionano Genomics (BNGO) plummeted 39.71% in pre-market trading on Tuesday, following the company's announcement of a $10 million public offering. This significant drop highlights investors' concerns about potential stock dilution and its impact on share value.

The genomics company, known for its optical genome mapping (OGM) solutions, priced the public offering, which is likely to increase the number of outstanding shares. While public offerings can provide essential capital for growth and operations, they often lead to immediate downward pressure on stock prices due to dilution of existing shareholders' stakes.

This development comes at a time when Bionano Genomics has been making strides in the field of genomics research. Recently, the company announced its contribution to a book series in Methods in Molecular Biology, focusing on catastrophic genome rearrangements studies. However, the market's reaction suggests that investors are more focused on the immediate financial implications of the public offering rather than the company's long-term research potential.