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Biodesix posts $13.7M net loss in third quarter

BOULDER — Biodesix Inc. (Nasdaq: BDSX), a lung-diagnostics company, reported a $13.7 million loss for the third quarter of 2022. 

Despite that loss, the company experienced strong revenue growth, with a 70% increase to $11.1 million from $6.5 million in the second quarter. Operating expenses increased 7%, to $21.7 million from $19.6 million.

“Our core lung diagnostic testing momentum through the third quarter resulted in record test volume and revenue. Lung diagnostic revenue grew 102% over the third quarter of 2021 and 26% over the second quarter 2022,” said Scott Hutton, president and chief executive of Biodesix, in a prepared statement. “In addition to a focus on sales growth, we have also accomplished several specific strategic reimbursement goals, including all five of our core lung-diagnostic tests now being covered by Medicare and the addition of these tests to the Federal Fee Schedule contract for the U.S. Department of Veterans Affairs. These achievements have us well positioned for strong growth and continued high gross margin contributions as we look to the fourth quarter 2022 and beyond.” 

Source: BizWest