Biodesix trims losses but misses Wall Street sales projection
LOUISVILLE — Biodesix Inc. (Nasdaq: BDSX), a life-sciences company that specializes in developing tools to detect lung disease, cut its losses in the third quarter of 2024 compared with the same period last year but just missed Wall Street’s revenue estimate.
The company boosted year-over-year sales by 35% to $18.2 million in the third quarter of this year, or just under 2% below Zacks Consensus Estimate.
Biodesix’s net loss in the most-recent quarter was $10.3 million, an improvement of 6% year over year.
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“The Biodesix team is pleased to report another solid quarter focused on executing and delivering on our three main goals — driving revenue growth through the adoption of our lung diagnostic tests and biopharma services, continued implementation of operational efficiencies, and maintaining a cost-disciplined approach as we drive our business to profitability,” Biodesix CEO Scott Hutton said in a prepared statement. Biodesix expects full-year sales to range between $70 million and $72 million for 2024.
The company’s stock price was $1.46, down 13.82%, just after noon on Friday.
