Biodesix sees bottom, top line improvement in third quarter
BOULDER — Biodesix Inc. (Nasdaq: BDSX), a life-sciences company that specializes in developing tools to detect lung disease, improved its year-over-year sales and trimmed its net losses in the third quarter.
Total revenue for the most recent period was $13.5 million, an increase of 21% over the same quarter in 2022.
Biodesix’s net loss for the third quarter of 2023 was $10.9 million, a decrease of approximately $2.8 million from the same period last year.
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“I am pleased to announce yet another impressive quarter of growth at Biodesix,” Biodesix CEO Scott Hutton said in a prepared statement. “… In the fourth quarter we are continuing to improve our balance sheet with the final closing of our private placement announced in August and plan to draw down an additional $10 million from the second tranche of our term loan with Perceptive Advisors. I am exceptionally pleased with our progress as we continue to increase test volumes, drive revenue growth, advance operational effectiveness, and improve Adjusted EBITDA as we strive to impact more patients with lung disease than ever before.”
Looking ahead, the company expects to generate $50 million to $52 million in total revenue for the full 2023 fiscal year.
