Biodesix reports 133% growth in biopharma revenue for Q3

BOULDER — Diagnostics company Biodesix (Nasdaq: BDSX) reported a 133% increase year-over-year in revenue from biopharma services, to $1.4 million from $641,000, and 51% growth in core lung diagnostics revenue, to $4.5 million from $3 million, for the third quarter of 2021. 

Overall revenue for the quarter was down 29% year-over-year, to $6.5 million from $9.1 million, but the company attributed that to an expected decline in COVID-19 testing revenue. That was down 91% to $506,000 from $5.5 million. 

Biodesix posted a net loss of $11.5 million for the quarter, 30% greater than the $8.8 million it lost in the third quarter of 2020. However, net loss per share declined dramatically, to 41 cents from $31.93.

The company ended the quarter with $47.9 million in cash and equivalents on hand. Biodesix stock closed Monday at $7.69 per share, down 1.54% for the day.

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