BIODESIX INC Stock Price, News & Analysis

Biodesix, Inc. (BDSX) announced positive coverage decisions for its Nodify XL2® test from four private payers, including Blue Cross Blue Shield of North Carolina and South Carolina, effective Q4 2022. This expands coverage to approximately 4.5 million lives, enhancing access to its diagnostic solutions for lung disease. The Nodify XL2 test boasts a 98% negative predictive value, aiding healthcare professionals in avoiding unnecessary procedures. This milestone reflects the growing recognition of Biodesix's diagnostic value within the lung cancer continuum of care.

Biodesix, Inc. (NASDAQ: BDSX) has appointed Lawrence (Lair) T. Kennedy, Jr. to its Board of Directors and Audit Committee effective January 3, 2023. Kennedy brings over 20 years of experience in corporate finance and healthcare. His extensive background includes leadership roles in healthcare staffing and investment management. CEO Scott Hutton expressed optimism that Kennedy's expertise will enhance the Board's effectiveness as the company aims to improve lung cancer diagnostics and treatment through data-driven solutions, including five Medicare-covered tests.

Biodesix, Inc. (NASDAQ: BDSX) has been recognized as the leading Proteomics Solutions Company in the U.S. by Life Sciences Review Magazine in its December 2022 issue. With over 15 years in clinical proteomics, Biodesix specializes in identifying patients' immune responses to cancer using blood-based tests. The company has performed over 125,000 proteomic tests and currently offers three clinical tests, enabling faster and more accurate diagnosis and treatment strategies for lung cancer. This recognition underscores Biodesix's commitment to advancing diagnostic solutions in lung disease.

Biodesix, Inc. (NASDAQ: BDSX) has announced the pricing of a public offering of 30,500,000 shares at $1.15 each, aiming to raise approximately $35.1 million. The offering, expected to close on November 21, 2022, includes an option for underwriters to purchase an additional 4,575,000 shares. Biodesix will utilize the funds to enhance its data-driven diagnostic solutions for lung disease, developed through multi-omics and AI technologies.

Biodesix, Inc. (NASDAQ: BDSX) has initiated an underwritten public offering of $30 million in common stock. The company may offer an additional $4.5 million of shares if underwriters exercise their option. The proceeds will fund commercial expansion, support R&D, and cover general corporate expenses. The offering is subject to market conditions and other factors. William Blair is the sole bookrunning manager. The shares will be sold under a shelf registration statement filed with the SEC in November 2021.

Biodesix (BDSX) has secured a $50 million term loan facility from Perceptive Advisors. The financing includes $30 million as initial funding and a potential $20 million based on future milestones. This move aims to strengthen the company's balance sheet and enhance liquidity by providing a five-year interest-only repayment period. Funds will support debt repayment, working capital, and commercialization of five Medicare-covered lung diagnostic tests, positioning Biodesix for continued growth in the lung disease diagnostic market.

Biodesix announces new interim data from the INSIGHT study, presented by Dr. Wallace Akerley at the SITC 37th Annual Meeting on November 11, 2022. The study confirms the VeriStrat test's ability to predict outcomes in patients with Non-small Cell Lung Cancer (NSCLC) treated with immunotherapy. Analysis of 3,040 patients shows that HIC-C classification results in better median overall survival when combined with chemotherapy. The data underscores the importance of biomarker-driven strategies for optimal treatment.

Biodesix reported a 102% increase in core lung diagnostic revenue to $9.2 million for Q3 2022 compared to Q3 2021. Total revenue reached $11.1 million, up 70% year-over-year, driven by strong adoption of Nodify tests. Medicare now covers all five core lung diagnostic tests, enhancing growth prospects. Despite a net loss of $13.7 million, a decrease in operating loss indicates improved financial health. Cash reserves stand at $15.2 million. The company expects to meet its revenue guidance of $37.5-$39.5 million for 2022, emphasizing growth in lung diagnostics.

Biodesix, a diagnostic solutions company focused on lung disease, will release its Q3 financial results on November 3, 2022. The results will be made public before the market opens, followed by a conference call at 8:00 a.m. ET for a business update and Q&A session. Biodesix offers five Medicare-covered tests using advanced AI for lung disease diagnostics, which aids in treatment decisions and risk assessments for malignancies.