Biodesix, Inc. - BDSX STOCK NEWS

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.

Biodesix (BDSX) will announce its financial results for Q4 and the year ended December 31, 2020, after market close on March 16, 2021. The management will host a conference call at 4:30 PM ET the same day to discuss the results and provide a business update. Biodesix focuses on lung disease diagnostics, offering innovative solutions like the Lung Reflex strategy and Nodify Lung testing. The company has launched diagnostic tests in response to COVID-19, enhancing its portfolio. Investors should tune in for insights on performance and future plans.

Biodesix, Inc. (Nasdaq: BDSX) announced that CEO Scott Hutton was named one of the Top 25 Biotech CEOs of 2021 by The Healthcare Technology Report. Hutton's leadership during the pandemic, including efforts to mitigate COVID-19 infection rates, has been pivotal for the company. Under his guidance since 2018, Biodesix has seen significant advancements, including responses to COVID-19 and a successful Initial Public Offering in October 2020. Hutton credits the achievement to the dedication of the entire Biodesix team in overcoming challenges during this period.

Biodesix (Nasdaq: BDSX) has partnered with Chicago Public Schools (CPS) to provide COVID-19 testing for teachers and staff. The program, initiated in January, includes rapid antigen tests and confirmatory Droplet Digital PCR (ddPCR) testing. Biodesix, experienced in testing large groups, aims to enhance public health for educators. Staff will undergo testing at least twice monthly, with increased frequency for those in high-risk areas. CPS is the third largest U.S. school district, serving over 350,000 students.

Biodesix, a diagnostic solutions leader focused on lung disease, announced participation in two major conferences. The BTIG Virtual MedTech, Digital Health, Life Science & Diagnostic Tools Conference will take place from February 17-19, 2021, featuring a fireside chat on February 17 at 4:00 PM ET. Additionally, Biodesix will participate in the LifeSci Partners Precision Oncology Day on the same date, hosting a panel on diagnostic sequencing at 12:00 PM ET. Biodesix continues to innovate in diagnostic testing, leveraging AI to enhance patient care.

Biodesix (BDSX) announced a publication detailing a new AI-based COVID-19 algorithm that predicts patient outcomes using readily available clinical data. The algorithm, developed on the Diagnostic Cortex® AI platform, analyzed 559 hospitalized COVID-19 patients, accurately identifying those at risk of severe disease and needing intensive treatment. This tool aims to aid physicians in making timely treatment decisions, particularly in resource-limited situations. Biodesix is collaborating with U.S. and international COVID-19 consortia for further validation and wider implementation.

Biodesix (Nasdaq: BDSX) announced that CEO Scott Hutton was named CEO of the Year for 2020 by CEO Monthly. Hutton's leadership during the COVID-19 pandemic and his role in guiding the company through its IPO in October 2020 were highlighted. Under his direction, Biodesix successfully launched three new precision medicine products in 2020, contributing to a strong performance despite challenges. The company focuses on lung disease diagnostics, leveraging artificial intelligence to offer innovative non-invasive tests.

Biodesix (Nasdaq: BDSX) announced the presentation of three abstracts at the IASLC World Conference on Lung Cancer from January 28-31, 2021. The findings indicate that individual immune profiles can guide treatment for advanced non-small cell lung cancer (NSCLC). Key studies highlighted include the use of blood-based host immune classifiers (HIC) for treatment decisions, a proteomic classifier (PIR) predicting resistance to immune checkpoint inhibitors (ICI), and early identification of aggressive NSCLC via blood profiling. These innovations aim to enhance treatment efficacy and patient outcomes.

HiberCell announced a collaboration with Biodesix (Nasdaq: BDSX) to develop a companion diagnostic for breast cancer trials involving Imprime PGG. The agreement will utilize Biodesix's artificial intelligence platform to create an enzyme-linked immunosorbent assay (ELISA) to evaluate patient eligibility based on Anti-β Glucan IgG Antibody levels. The test will be validated in a CLIA-accredited lab. This partnership aims to enhance patient stratification for clinical trials, advancing HiberCell's therapeutic strategies against recurrent metastatic disease.