Biodesix, Inc. - BDSX STOCK NEWS

Biodesix reported strong performance for Q1 2021, with total revenue of $28.9 million, a 466% increase YoY. COVID-19 testing contributed $23.2 million, up 8% Q/Q, while lung diagnostics revenue grew by 10% YoY. The company secured a $30 million term loan, enhancing liquidity and aiding future expansion. Net loss improved by 28% YoY to $7 million. Additionally, Biodesix introduced new tests and patents, enhancing its lung diagnostics portfolio and COVID-19 testing capabilities.

Biodesix (BDSX) is set to enhance its diagnostic portfolio with a new blood-based 52-gene next-generation sequencing (NGS) test for non-small cell lung cancer (NSCLC). This test, based on recent research, boasts a rapid turnaround time of just 72 hours, significantly faster than the existing options which take 7-14 days. Currently, the test is utilized in biopharma research and will augment Biodesix's GeneStrat® ddPCR and VeriStrat® tests, enabling comprehensive genomic data for treatment decisions. The company anticipates launching this innovative test in the first half of 2022.

Biodesix (Nasdaq: BDSX) announced a webinar in collaboration with GenScript Biotech to discuss new data on SARS-CoV-2 neutralizing antibodies using cPass™ technology. This test, the first with FDA Emergency Use Authorization, detects antibodies produced after vaccination or infection, and aims to help assess vaccine efficacy. Scheduled for May 5, 2021, the webinar will cover cPass test comparisons to gold standard tests and its integration into Biodesix's accredited laboratory. The company plans to make this test broadly available in summer 2021 to support ongoing COVID-19 testing efforts.

Biodesix (Nasdaq: BDSX) will release its financial results for Q1 2021 on May 11, after trading hours. A conference call will follow at 4:30 PM ET to discuss results and business updates. Biodesix focuses on lung disease diagnostics and has introduced several non-invasive tests, including the SARS-CoV-2 ddPCR™ test for COVID-19. The company applies AI to develop multi-omic diagnostic solutions that improve patient care. Investors are encouraged to tune into the call for insights.

Biodesix, focused on lung disease diagnostic solutions, announced a webinar on April 26, 2021, addressing biomarkers and risk assessment in lung nodule management. Led by Dr. Susan Garwood, the session aims to improve identification of malignant lung nodules and enhance referral pathways for patients based on blood-based biomarker testing. Dr. Garwood emphasized the importance of education on risk assessment for monitoring low-risk patients while prioritizing high-risk cases for specialist referral. Biodesix continues to innovate with non-invasive tests for lung disease, including the Biodesix Lung Reflex and Nodify Lung strategies.

Biodesix, Inc. (Nasdaq: BDSX) announced the presentation of three clinical study abstracts at the 2021 AACR Annual Meeting, emphasizing blood-based proteomic testing's potential to enhance cancer treatment decisions. Abstract #520 explores how the Primary Immune Response (PIR) test can predict immune-related adverse events (irAEs) in non-small cell lung cancer (NSCLC) patients undergoing immunotherapy. Abstract #673 discusses PIR's ability to stratify patients for immune checkpoint inhibitor therapy, while Abstract #662 highlights the VeriStrat test's effectiveness in monitoring disease progression in advanced NSCLC patients.

Biodesix (Nasdaq: BDSX) announced that the U.S. Patent and Trademark Office has issued two new patents enhancing its blood-based immunotherapy diagnostics. The first patent, U.S. Patent 10,950,348, enables classification of lung cancer patients based on their likely response to immunotherapies. The second patent, U.S. Patent 10,870,891, covers a method for detecting fragmented RNA in blood, improving the precision of diagnostics. These advancements are expected to boost patient treatment personalization and support ongoing biopharma collaborations.

Biodesix (NASDAQ: BDSX) announced the closure of a $30 million term loan maturing March 1, 2026. The funds were primarily utilized to repay $25.9 million from an existing term loan with Innovatus, enhancing the company's liquidity with approximately $4 million reserved for corporate purposes. This refinancing aims to improve financial flexibility, reduce cash interest costs, and support the growth of Biodesix's commercial organization and clinical pipeline. CEO Scott Hutton expressed confidence in the company's plans, highlighting lender trust amid ongoing pandemic disruptions.

Biodesix, a leader in lung disease diagnostics, reported strong financial results for Q4 and FY 2020, showcasing a record revenue of $45.6 million, an 86% increase from 2019. The fourth quarter alone generated $27.0 million, a 194% growth from Q3 2020, driven largely by COVID-19 testing revenue of $21.4 million. The company strengthened its balance sheet with $62.1 million in cash by year-end. CEO Scott Hutton emphasized the company's strategic focus on lung diagnostics while expanding its COVID-19 testing capabilities, forecasting continued growth into 2021.