Slide 1: Corporate Presentation
Corporate Presentation Biodesix is a leading diagnostics company, driven to improve clinical care and outcomes for patients. August 2025
Slide 2: Disclaimer
Disclaimer This presentation and the accompanying oral presentation have been prepared by Biodesix, Inc. ("Biodesix", “we” or the "Company") for informational purposes only and not for any other purpose. Nothing contained in this presentation is, or should be construed as, a recommendation, promise
Slide 3: Presenting today
Presenting today Scott Hutton Robin Harper Cowie President & Chief Executive Officer Chief Financial Officer 25+ years of industry experience 20+ years of industry experience Leadership | Mergers & Acquisitions | Sales & Marketing Finance | Reimbursement | Operational Excellence President & Chief Ex
Slide 4: Biodesix is a leading diagnostics solutions company, driven to improve clinical care and outcomes
Biodesix is a leading diagnostics solutions company, driven to improve clinical care and outcomes for patients. MISSION VISION support clinical decisions to expedite personalized Our mission is to transform patient care We envision a world where patient diseases care and improve outcomes for patient
Slide 5: Biodesix revenues generated by two business lines
Biodesix revenues generated by two business lines enabled by scientific, technological, regulatory, and commercial excellence. Lung Diagnostic Tests Development Services support clinical decisions to expedite personalized care and improve Supporting outcomes clinical forto decisions patients with lu
Slide 6: Key Capabilities Offering Path to Profitability
Key Capabilities Offering Path to Profitability Sales Medicare covered Industry leading ~95 representatives 5 tests for lung – 3 with 80% gross margins expected in the field ADLT status in 4Q25 focused on lung diagnostics Publications and NYS CLEP approvals FY 2025 Revenue 300+ presentations >20 for
Slide 7: Two highly-certified, technologically-advanced laboratories
Two highly-certified, technologically-advanced laboratories LOUISVILLE, CO DE SOTO, KS CLIA certified CLIA certified CAP accredited CAP accredited NYS CLEP certified: Clinical Chemistry (limited to NYS CLEP certified: Clinical Chemistry (limited to soluble tumor markers), Oncology - Molecular & solu
Slide 8: Lung Diagnostic Tests
Lung Diagnostic Tests Our Core Commercial Clinical Offering
Slide 9: What drives us: the fight against lung cancer
What drives us: the fight against lung cancer USA lung cancer deaths vs colorectal, breast, and prostate cancers combined 120,000 PROSTATE 1 in 18 People will be diagnosed with lung cancer in their lifetime 6% 90,000 5-year survival for patients diagnosed with BREAST metastatic lung cancer 60,000 LU
Slide 10: Biodesix tests have Medicare coverage and private coverage policies added each quarter
Biodesix tests have Medicare coverage and private coverage policies added each quarter Lung Diagnostics Test Portfolio Lung Cancer Risk Assessment Lung Cancer Diagnosis Nodule Risk Assessment Treatment Guidance Testing Identify actionable Identify actionable Identify a patient’s Identify likely Iden
Slide 11: Biodesix tests have Medicare coverage and private coverage policies added each quarter
Biodesix tests have Medicare coverage and private coverage policies added each quarter Lung Diagnostics Test Portfolio Lung Cancer Risk Assessment Lung Cancer Diagnosis Nodule Risk Assessment Treatment Guidance Testing Identify actionable Identify actionable Identify a patient’s Identify likely Iden
Slide 12: Guideline-directed lung nodule management: No updates in 10+ years
Guideline-directed lung nodule management No updates in 10+ years Assessed Risk of Lung Cancer High Risk or (>65%) ~10% of patients Biopsy Surgery Incidentally Found Biopsy or Low to Moderate Lung Risk (5-65%) Surgery Screen Detected Cancer Risk ~80% of patients Physician Assessment Judgement CT Sur
Slide 13: Standard lung cancer risk assessment has led to over- and under-treatment of patients
Standard lung cancer risk assessment has led to over- and under-treatment of patients 62% 35% 17% of patients receiving of patients who of patients sent to CT biopsy as the sole underwent surgery had surveillance have diagnostic procedure benign nodules1 malignant nodules2 were benign1 1Silvestri GA
Slide 14: One blood draw, two tests to reclassify risk in lung nodule management
One blood draw, two tests to reclassify risk to help reduce uncertainty in lung nodule management Assessed Risk of Lung Cancer High Risk or (>65%) Patient Chart ~10% of patients identifies likely Biopsy Surgery Clinical Profile malignant nodules with test results in one day • Age (≥40) • Any Smoking
Slide 15: Blood-based nodule risk assessment
Blood-based nodule risk assessment Ordered together - Run in sequence Identifies patients with lung nodules that are Identifies patients with lung nodules that are likely benign likely malignant Proteins on an LC-MS platform from blood Autoantibodies on an ELISA platform from blood Proteins: LG3BP |
Slide 16: Nodify Lung Test: Published Data Package
Nodify Lung® Test: Published Data Package 1 2 3 4 5 DISCOVERY ANALYTICAL VALIDATION CLINICAL VALIDATION CLINICAL UTILITY HEALTH ECONOMICS & OUTCOMES 2012 2010 2017 2023 2023 Chapman et al, Murray et al, Annals of Massion et al, Thoracic Pritchett et al, PLOS Smith et al, ISPOR Tumor Biology Oncology
Slide 17: Lung cancer risk assessment before and after use of Nodify Lung testing
Lung cancer risk assessment before and after use of Nodify Lung testing Biodesix Clinical Utilitiy Review Tool – available for use in clinical consultation with physicians Pre- and Post-test risk of lung cancer for first 110,000 commercial Nodify CDT and Nodify XL2 tests. Same data displayed in scat
Slide 18: Territory-based sales pods accessing concentrated nodule referral network
Territory-based sales “pods” accessing concentrated nodule referral network leveraging support from pulmonology Pulmonology Territories anchored by Sales senior pulmonology Consultant sales representative with complementary primary care sales representatives and associate sales representatives Prima
Slide 19: Building the market: Increasing patient access in pulmonology and primary care
Building the market: Increasing patient access in pulmonology and primary care 2024 Breadth of Call Points in US: • ~14,000 pulmonologists • ~15,000 of the ~250K PCPs are active in lung health programs ~50% Managed by Primary Care ~50% Managed by Pulmonology tend to CT surveillance tend to biopsy No
Slide 20: Biodesix tests have Medicare coverage and private coverage policies added each quarter
Biodesix tests have Medicare coverage and private coverage policies added each quarter Lung Diagnostics Test Portfolio Lung Cancer Risk Assessment Lung Cancer Diagnosis Nodule Risk Assessment Treatment Guidance Testing Identify actionable Identify actionable Identify a patient’s Identify likely Iden
Slide 21: Testing helps identify the right treatment for the right patient as quickly as possible
Testing helps identify the right treatment for the right patient as quickly as possible >60 treatments and combinations recommended by NCCN for patients with lung cancer4 ~ 225k 10.5 months 26 days patients diagnosed annually median overall survival of patients Length of time for turnaround with lun
Slide 22: Treatment guidance tests for all stages of lung cancer
Treatment guidance tests for all stages of lung cancer Early stage Advanced, metastatic, or Lung Cancer recurrent Lung Cancer Immune profiling test Immune profiling test 52-gene test Average turnaround time of 3 business days ©2025 Biodesix, Inc. All rights reserved. 22
Slide 23: Rapid turnaround blood-based tumor & immune profiling
Rapid turnaround blood-based tumor & immune profiling 5000 patients enrolled in INSIGHT1 prospective clinical utility study GeneStrat® ddPCR Test GeneStrat NGS® Test VeriStrat® Test Identifies blood-based, guideline Identifies blood-based, guideline Blood-based test identifies a chronic recommended
Slide 24: Product pipeline
Product pipeline For tests outside of lung commercial focus, plan to partner for commercial distribution Test Type Indication Utility Recent Presentations Risk of Recurrence Proteomic & Lung and other solid tumor types Likelihood of recurrence Memorial Sloan Kettering (ROR) & Molecular Genomic and r
Slide 25: Development Services
Development Services Biopharmaceutical companies, life sciences tools and diagnostics companies, & academic research institutions
Slide 26: Biodesix Development Services: strategic and customized discovery, test development, and clinical study testing
Biodesix Development Services: strategic and customized discovery, test development, and clinical study testing End Q2 2025: $12.5M in Development Services under contract Life Sciences Tools Companies & Select Highlights Biopharma Partnerships Academic Research Partners Top Proteomics Company1 Life
Slide 27: Thank you
W biodesix: Thank you 29
Slide 28: Appendix
Appendix W biodesix:
Slide 29: Leadership Team: Extensive experience in diagnostics, pharma, med tech, radiomics, & healthcare economics
Leadership Team: Extensive experience in diagnostics, pharma, med tech, radiomics, & healthcare economics Scott Hutton Robin Harper Howie Gary Pestano Brianna Phillips Jessica Olbricht CEO CFO CDO (PhD) VP RA | QA Head of HR Kieran O’Kane Michael Kammer Niki Givens Steve Springmeyer James Jett CCO H
Slide 30: Board of Directors: extensive MedTech, Pharm, and Diagnostics industry expertise
Board of Directors: extensive MedTech, Pharm, and Diagnostics industry expertise John Patience Chairman Crabtree Partners LLC Scott Hutton President & CEO Hany Massarany Chair – Compensation Committee Jean Franchi Chair – Audit Committee Matt Strobeck, Ph.D. Chair – Nominations & Governance Committe
Slide 31: Intellectual property portfolio
Intellectual property portfolio >100 issued Patents 20 unique registered and filed trademarks US and international Across 13 countries Patent Subject Matter: Exemplary Issued Marks: Filed Marks: • VeriStrat® and Nodify® tests and their uses in non-small cell lung • Biodesix & wordmark • Biodesix Log
Slide 32: In-office blood collection with Tasso+ capillary device
In-office blood collection with Tasso+ capillary device Single-use blood lancing device intended for obtaining capillary whole blood Impact to Lung samples from a patient’s upper arm Nodule Patient Care FDA Class II Lancet 510(k) cleared Improves patient access to Nodify Lung® testing in practices w