Biodesix Announces Preliminary Revenue for Third Quarter 2022
11 Ottobre 2022 - 12:00PM
Business Wire
Third quarter 2022 core lung diagnostic
testing revenues growth up 96% to 103% compared to third quarter
2021
Biodesix, Inc. (NASDAQ: BDSX), a leading data-driven diagnostic
solutions company with a focus in lung disease, today announced
that the Company expects to report third quarter 2022 total revenue
to be in the range of $10.6 million to $11.2 million, representing
growth of 62% to 71% over the third quarter 2021. The strength in
the third quarter 2022 total revenue reflects continued growth in
the Company’s core lung diagnostic testing. The financial results
included in this release pertaining to the third quarter 2022 are
preliminary, subject to completion of internal procedures and
review.
Third Quarter 2022 Financial Highlights
For the three-month period ended September 30, 2022, as compared
to the same period of 2021 (where applicable):
- Total quarterly revenue estimated to be in the range of $10.6
million to $11.2 million, an increase of $4.1 million to $4.7
million, or 62% to 71%;
- Total quarterly lung diagnostic testing revenue estimated to be
in the range of $8.9 million to $9.2 million, an increase of $4.4
million to $4.7 million, or 96% to 103%;
- Total quarterly COVID diagnostic testing revenue estimated to
be in the range of $1.1 million to $1.3 million, an increase of
$0.6 million to $0.8 million, or 117% to 157%;
- Total quarterly biopharma services revenue estimated to be in
the range of $0.6 million to $0.7 million, a decrease of $0.8
million to $0.9 million, or 53% to 60%;
- Cash and cash equivalents of $15.2 million as of September 30,
2022.
“We had another strong quarter that builds upon recent momentum
and again was highlighted by record revenue and volume growth from
our core lung diagnostic testing business,” stated Scott Hutton,
Chief Executive Officer. “Our lung diagnostic portfolio consists of
five Medicare-covered tests to help physicians quickly and
confidently decipher the risk of malignancy of a lung nodule and
then help guide treatment decisions if a patient has been diagnosed
with lung cancer. While we are pleased with our COVID testing
results for the quarter, we do not expect any significant continued
revenue generation from this testing given the previously disclosed
expiration of our contract with the State of Colorado. We continue
to be pleased with the interest and ongoing discussions around our
BioPharma services although the revenue represents the continued
delay in clinical study enrollment and sample shipping logistics
impacting timelines for existing and new agreements. At Biodesix we
have worked hard to build one of the most comprehensive suites of
precision diagnostic tests to support clinical decision-making
across the lung cancer continuum and are very pleased with the
increased adoption of our tests by physicians to help improve
patient care.”
The Company expects to be at the high end of the range of its
previously disclosed total revenue guidance for 2022 of $37.5
million and $39.5 million. We expect the fourth quarter 2022 to
maintain continued growth in our core lung diagnostic business
while COVID revenue is expected to decline to an immaterial amount
based on current trends in COVID testing.
About Biodesix
Biodesix is a leading data-driven diagnostic solutions company
with a focus in lung disease. The Company develops diagnostic tests
addressing important clinical questions by combining multi-omics
through the power of artificial intelligence. Biodesix offers five
Medicare-covered tests for patients with lung diseases. The blood
based Nodify Lung® nodule risk assessment testing strategy,
consisting of the Nodify XL2® and the Nodify CDT® tests, evaluates
the risk of malignancy in incidental pulmonary nodules, enabling
physicians to better triage patients to the most appropriate course
of action. The blood based IQLung™ strategy for lung cancer
patients integrates the GeneStrat® targeted test, the GeneStrat
NGS™ test and the VeriStrat® test to support treatment decisions
across all stages of lung cancer with results in an unprecedented
average of 36-72 hours, expediting time to treatment. Biodesix also
leverages the proprietary and advanced Diagnostic Cortex® AI
(Artificial Intelligence) platform, to collaborate with many of the
world’s leading biotechnology and pharmaceutical companies to solve
complex diagnostic challenges in lung disease. For more information
about Biodesix, visit biodesix.com.
Note Regarding Forward-Looking Statements
This press release may contain forward-looking statements that
involve substantial risks and uncertainties for purposes of the
safe harbor provided by the Private Securities Litigation Reform
Act of 1995. All statements contained in this press release other
than statements of historical fact, are forward-looking statements.
The words “believe,” “may,” “will,” “estimate,” “continue,”
“anticipate,” “intend,” “plan,” “expect,” “predict,” “potential,”
“opportunity,” “goals,” or “should,” and similar expressions are
intended to identify forward-looking statements. Such statements
are based on management’s current expectations and involve risks
and uncertainties. Actual results and performance could differ
materially from those projected in the forward-looking statements
as a result of many factors. Biodesix has based these
forward-looking statements largely on its current expectations and
projections about future events and trends. These forward-looking
statements are subject to a number of risks, uncertainties, and
assumptions. Forward-looking statements may include information
concerning the impact of the COVID-19 pandemic on Biodesix and its
operations, it is possible or assumed future results of operations,
including descriptions of its revenues, profitability, outlook, and
overall business strategy. Forward-looking statements are
inherently subject to risks and uncertainties, some of which cannot
be predicted or quantified. The Company's ability to continue as a
going concern could cause actual results to differ materially from
those contemplated in this press release and additionally, other
factors that could cause actual results to differ materially from
those contemplated in this press release can be found in the Risk
Factors section of Biodesix’s most recent annual report on Form
10-K, filed March 14, 2022, or subsequent quarterly reports on Form
10-Q during 2022, if applicable. Biodesix undertakes no obligation
to revise or publicly release the results of any revision to such
forward-looking statements, except as required by law. Given these
risks and uncertainties, readers are cautioned not to place undue
reliance on such forward-looking statements. All forward-looking
statements are qualified in their entirety by this cautionary
statement.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20221011005410/en/
Media: Kieran O’Kane kieran.okane@biodesix.com (206)
548-6159
Investors: Chris Brinzey chris.brinzey@westwicke.com (339)
970-2843
Grafico Azioni Biodesix (NASDAQ:BDSX)
Storico
Da Giu 2024 a Lug 2024
Grafico Azioni Biodesix (NASDAQ:BDSX)
Storico
Da Lug 2023 a Lug 2024