Biodesix, Inc. - BDSX STOCK NEWS

Biodesix, Inc. (BDSX) reported significant growth in its core lung diagnostics business for fiscal 2022, with revenue reaching $29.3 million, up 57% year-over-year. Total revenue for the year was $38.2 million, despite a 30% decline due to reduced COVID-19 testing. The company achieved a 66% gross margin, driven by a shift towards higher-margin lung diagnostics. Biodesix anticipates total revenue between $52 million and $55 million for 2023, reflecting over 60% growth excluding COVID-19 tests. The net loss for fiscal 2022 widened to $65.4 million, influenced by debt extinguishment losses.

Biodesix (NASDAQ: BDSX), a leading diagnostic solutions company focused on lung disease, announced that CEO Scott Hutton will participate in the fireside chat at Cowen’s 43rd Annual Healthcare Conference from March 6-8, 2023. The chat is scheduled for March 7 at 1:30 PM ET at Boston Marriott Copley Place. It will also be webcast live on the company's website. Biodesix leverages AI to develop diagnostic tests for lung diseases, offering five Medicare-covered tests, including Nodify Lung and IQLung strategies, which aid in assessment and treatment of lung diseases. For more details, visit biodesix.com.

Biodesix, Inc. (BDSX) announced it will release its financial results for Q4 and the fiscal year ending December 31, 2022, before the market opens on March 6. A conference call and webcast will follow at 8:00 a.m. Eastern Time to discuss the results and provide a business update. Biodesix specializes in data-driven diagnostic solutions for lung diseases, utilizing AI for diagnostic tests. Their services include five Medicare-covered tests, notably for lung cancer patients aiming to expedite treatment. Biodesix's strategic partnerships with biotech firms enhance diagnostic capabilities in lung care.

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.