Business
Biodesix Announces Fourth Quarter and Year End 2021 Results and Highlights
Fourth Quarter and Fiscal Year 2021 Lung Diagnostic Revenue of $5.4 Million and $18.7 Million Increased 48% and 49% over the comparable 2020 periods,
About this update from Biodesix, Inc.
[{"type":"text","content":"\nFourth Quarter and Fiscal Year 2021 Lung Diagnostic Revenue of $5.4 Million and $18.7 Million Increased 48% and 49% over the comparable 2020 periods, respectively\n\nFull-Scale Launch of GeneStrat NGS™ Test in January 2022\n\nConference Call and Webcast Today at 8:30 a.m. ET\n\n BOULDER, Colo.--(BUSINESS WIRE)--\nBiodesix, Inc. (Nasdaq: BDSX), a leading data-driven diagnostic solutions company with a focus in lung disease, today announced its financial and operating results for the fourth quarter and year ended December 31, 2021 (fiscal 2021) and provided a corporate update.\n\n“Despite the ongoing challenges caused by the global pandemic, the fourth quarter and fiscal 2021 were very productive,” said Scott Hutton, CEO of Biodesix. “Most notably, we successfully executed on our revenue growth strategy by doubling our direct, dedicated sales force, which significantly contributed to our core lung diagnostic revenue growth of 48% and 49% for fourth quarter and fiscal 2021, respectively. We further executed on our third quarter 2021 commitment to a commercial launch of our GeneStrat NGS™ test in January 2022. From the clinical data standpoint, we presented new data during the fourth quarter of 2021 on our NodifyXL2® test from the prospective ORACLE study, and on our VeriStrat test from the prospective INSIGHT study. This new data truly underscores the value of both products in the real-world setting and adds to the body of evidence. We continue to be excited about the trajectory of the business, despite the challenges from the ongoing pandemic, which gives us confidence heading into 2022.”\n\nFourth Quarter and Full Year 2021 Financial Results\n\n\nTotal revenue of $7.2 million and $54.5 million for the fourth quarter and fiscal 2021, respectively;\n\n\nContinued lung diagnostic year over year growth despite COVID-19 variant surges;\n\n\n\n\nCore lung diagnostic revenue of $5.4 million and $18.7 million for the fourth quarter and fiscal 2021, respectively, an increase of 48% and 49% over the respective prior year comparable periods;\n\n\nNodify nodule management tests and sales force expansion continue to drive lung diagnostic growth;\n\n\n\n\nBioPharma Services revenue of $1.4 million and $5.6 million for the fourth quarter and fiscal 2021, respectively, a decrease of 29% and increase 20% over the respective prior year comparabl...