BIODESIX INC Stock Price, News & Analysis

Biodesix (Nasdaq: BDSX) announced that CEO Scott Hutton will present at the BTIG MedTech, Digital Health, Life Science & Diagnostic Tools Conference on February 16, 2022, at 4:30 PM ET. The company specializes in data-driven diagnostic solutions for lung diseases, offering innovative tests like Nodify Lung® for risk assessment and IQLung™ for treatment decisions in lung cancer. Biodesix utilizes AI technology to enhance diagnostic accuracy and has launched several tests, including those for COVID-19, to address urgent health needs.

PierianDx has partnered with Biodesix to enhance the GeneStrat NGS genomic test, aimed at detecting actionable mutations in patients with non-small cell lung cancer (NSCLC). The collaboration will utilize PierianDx's interpretation technology to provide comprehensive clinical interpretations for the mutations identified, facilitating personalized treatment plans. The GeneStrat NGS test can deliver results within 72 hours, significantly improving the speed of patient care. Both companies highlight their commitment to precision medicine and democratizing access to genomic testing.

Biodesix has launched its new GeneStrat NGS™ genomic test, a blood-based tumor profiling tool designed to assist in identifying targeted therapy mutations for advanced-stage lung cancer patients. This test features a 52-gene panel and offers results within an expedited 72 hours. The GeneStrat NGS test is covered by Medicare and is part of the larger IQLung™ Treatment Guidance Testing Strategy aimed at improving treatment decision-making. CEO Scott Hutton emphasizes the importance of timely results for enhancing patient outcomes.

Biodesix, Inc. (NASDAQ: BDSX) announced a successful sale of 3,756,994 common shares on December 30, 2021, generating approximately $16.3 million. The proceeds will be utilized to repay its existing term loan. Additionally, on December 31, 2021, the company entered a Second Amendment to its $30 million 2021 Term Loan, enhancing financial flexibility. This includes a waiver of the $600,000 prepayment fee and consent for a $4.6 million milestone payment. CEO Scott Hutton expressed optimism about these developments supporting the company's growth strategy.

Biodesix, Inc. (NASDAQ: BDSX) has appointed Dr. Jon Faiz Kayyem to its board of directors. Dr. Kayyem brings over 20 years of experience in academia and industry, having held significant roles at GenMark Diagnostics and other leading organizations. His expertise in clinical, commercial, and scientific domains is expected to enhance Biodesix's capabilities as it expands its diagnostic solutions for lung disease. CEO Scott Hutton highlighted Dr. Kayyem's leadership and entrepreneurial spirit as key assets to support the company's growth initiatives.

Biodesix Inc. (BDSX) has partnered with Spesana to enhance molecular diagnostics in lung cancer management across the U.S. This collaboration focuses on streamlining clinical workflows using Spesana's cloud-based platform. It aims to improve patient outcomes by automating processes like referral management and clinical trial management.

The platform will integrate Biodesix’s blood-based Nodify Lung® tests, which assess nodule risk in lung disease. The goal is to simplify the complex diagnostic journey for providers and ensure patients receive timely and precision treatments.

Biodesix (NASDAQ: BDSX) has announced interim results from the INSIGHT study, which involved approximately 2,000 NSCLC patients. The findings indicate that patients classified as HIC-Hot by the VeriStrat test lived 2-3 times longer than those classified as HIC-Cold. This suggests that the VeriStrat test can effectively guide immunotherapy treatment, improving survival rates. The study emphasizes the significance of immune classification in optimizing treatment strategies for advanced non-small cell lung cancer.

Biodesix, Inc. (BDSX) reported a 51% increase in lung diagnostic revenue to $4.5 million for Q3 2021, driven by Nodify nodule management tests and a growing sales force. Total revenue reached $6.5 million, with services revenue up 133% to $1.5 million. However, COVID-19 testing revenue fell 91% to $0.5 million. The gross margin improved to 58%, while operating expenses increased 46% to $16.9 million, resulting in a net loss of $11.5 million. The company launched a 72-hour liquid NGS test ahead of schedule and anticipates continued growth into 2022.

Biodesix, Inc. (NASDAQ: BDSX) announced its collaboration with Genentech to present three posters at the 36th Annual Society for Immunotherapy of Cancer (SITC) from Nov. 10-14, 2021. This research focuses on diagnostic tests for non-small cell lung cancer (NSCLC) patients undergoing immune checkpoint inhibitor therapy. CEO Scott Hutton highlighted the importance of quick, actionable test results for patient care. Key presentations include findings on the Primary Immune Response (PIR) test and Anti-PD-L1 Response Test (ART), emphasizing their potential in predicting treatment efficacy.