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Biodesix Anticipates Strong Preliminary Fourth Quarter 2020 Revenue (unaudited)
Record quarterly revenue driven by strength in COVID-19 testing and growth in lung diagnostic testing BOULDER, Colo.--(BUSINESS WIRE)-- Biodesix, Inc. a
About this update from Biodesix, Inc.
[{"type":"text","content":"\nRecord quarterly revenue driven by strength in COVID-19 testing and growth in lung diagnostic testing\n\n BOULDER, Colo.--(BUSINESS WIRE)--\nBiodesix, Inc. a leading data-driven diagnostic solutions company with a focus in lung disease, today announced that the company expects to report record fourth quarter 2020 preliminary unaudited revenue in a range of $25 million to $27 million. The strength in the fourth quarter 2020 was a result of growth in the company’s COVID-19 testing services, lung diagnostic testing, and biopharma services. The financial results included in this release pertaining to all interim periods are unaudited and the financial results as of and for the three-month period ended December 31, 2020 are preliminary unaudited information and subject to final review and adjustments.\n\nFourth Quarter 2020 and Recent Highlights\n\n\nGenerated record revenue of $25 million to $27 million for the three months ended December 31, 2020.\n\n\nCompleted initial public offering (IPO) that raised net proceeds of approximately $63 million after deducting offering costs, underwriting discounts and commissions, providing significant cash resources to fund the Company’s growth strategy and for working capital and general corporate purposes.\n\n\nInitiated biomarker study to affirm Nodify XL2® test’s importance in clinical decision making (ALTITUDE). The first-in-class biomarker study is aligned with the recommendations from the official 2018 American Thoracic Society (ATS) policy statement on the early detection of lung cancer. Dr. Gerard A. Silvestri of Medical University of South Carolina named Principal Investigator.\n\n\nAnnounced results of study showing the company’s proprietary blood collection device (BCD) collects, separates, and transports blood at ambient temperature to simplify specimen collection and transport while maintaining accuracy of diagnostic test results.\n\n\nPartnered with Purdue University to support return to school COVID-19 testing for off campus students.\n\n\n“We are pleased to see the growth in our lung diagnostic testing during the quarter even as healthcare practitioners and facilities were focused treating patients during the most recent surge of COVID-19 cases across the country,” stated Scott Hutton, Chief Executive Officer. “With our diverse suite of commercially available lung cancer nodule...