Biodesix Strengthens Financial Position with Equity Issuance and Term Loan Modification


BOULDER, Colorado–(BUSINESS WIRE)–Biodesix, Inc. (Nasdaq: BDSX), a leading data-driven diagnostic solutions company specializing in lung disease, announced the sale of 6,508,376 shares of common stock on April 7, 2022 in a private placement that raised approximately $11.7 million in net proceeds, among other things, to fund the partial repayment of its existing term loan and for general corporate purposes, including our strategic growth.

In addition, the Company entered into a Third Amendment to its 2021 Term Loan (“Third Amendment”) on April 7, 2022, which includes certain consents and waivers to provide the Company with additional short-term financial flexibility.

Under the Third Amendment to our 2021 Term Loan, the Company agreed to repay $3.0 million of outstanding principal in April 2022, with an additional $2.0 million to be paid no earlier than April 15, 2022. May 2022, which could be extended until September 30. , 2022, subject to certain debt or equity capital raisings of at least $15 million, including the financing of $11.7 million through the aforementioned private placement, in exchange for this following :

  • Consent to a Mutually Agreed April 2022 $2.0 Million Milestone Payment Under the Embedded Diagnostics Asset Purchase Agreement, as Amended;

  • Waiver of minimum income requirement for the three months ended March 31, 2022; and

  • Waiver and elimination of prepayment charges on the partial repayment of the 2021 term loan of $3.0 million in April 2022 and the subsequent repayment of principal of $2.0 million.

“This transaction marks another important step in the company’s efforts to build a sustainable business that will fundamentally change the pulmonary diagnostic testing industry. This transaction strengthens our ability to realize our vision, and we couldn’t be more excited about what the future holds for Biodesix,” said Scott Hutton, CEO of Biodesix. “We believe the continued confidence and commitment shown by some of our major shareholders is a testament to our business model, the strength of our team and the huge market opportunity before us.”

Financial outlook 2022

The company reaffirms its previous guidance and expects to generate between $37.5 million and $39.5 million in total revenue in 2022.

About Biodesix

Biodesix is ​​a leading data-driven diagnostic solutions company specializing in lung disease. The Company develops diagnostic tests that answer important clinical questions by combining multi-omics with the power of artificial intelligence. Biodesix is ​​the first company to offer eight non-invasive tests for patients with lung disease. The Nodify Lung® nodule risk assessment blood test strategy, comprised of the Nodify XL2® and Nodify CDT® tests, assesses the risk of malignancy in incidental lung nodules, allowing physicians to better triage patients to plan of most appropriate action. The IQLung™ blood-based strategy for lung cancer patients integrates the GeneStrat ddPCR™ test, the GeneStrat NGS™ test and the VeriStrat® test to support treatment decisions at all stages of lung cancer with results in an unprecedented 36 to 72 hours, which speeds up processing time. Biodesix also leverages the proprietary and advanced Diagnostic Cortex® AI (artificial intelligence) platform to collaborate with many of the world’s leading biotech and pharmaceutical companies to solve complex diagnostic problems in lung diseases. In response to the global pandemic and virus that affects the lungs and causes COVID-19. For more information on Biodesix, visit

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 facts, are prospective. 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. These 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 due to numerous factors. Biodesix has based these forward-looking statements largely on its current expectations and projections regarding future events and trends. These forward-looking statements are subject to a number of risks, uncertainties and assumptions. Forward-looking statements may include information regarding the impact of the COVID-19 pandemic on Biodesix and its operations, possible or assumed future operating results, including descriptions of its revenues, profitability, outlook and its 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, in addition, other factors could cause actual results to differ materially from those contemplated in this release. releases 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 in 2022, as applicable. Biodesix undertakes no obligation to revise or release the results of any revisions to these forward-looking statements, except as required by law. Given these risks and uncertainties, readers are cautioned not to place undue reliance on these forward-looking statements. All forward-looking statements are qualified in their entirety by this cautionary statement.

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