HomeEquities ScoreHere is why Biodesix Inc. (BDSX) Stock recovered its loss in the...

Here is why Biodesix Inc. (BDSX) Stock recovered its loss in the after-hours on Tuesday?

Biodesix Inc. (BDSX) shares popup 11.51% in after-hours on Tuesday, January 04, 2021, and closed the daily trading at $5.91. However, in the regular trading session of Tuesday, BDSX’s stock lost 8.78%. BDSX shares have fallen 71.01% over the last 12 months, and they have moved up 27.71% in the past week. Over the past three months, the stock has lost 31.79%, while over the past six months, it has shed 51.82%.

Let’s have a brief look at its recent news and developments.


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BDSX strengthen its financial position

On January 04, 2022, Biodesix, Inc. announced the sale of 3,756,994 common shares on December 30, 2021, in an at-the-market offering that raised approximately $16.3 million in gross proceeds to fund repayment of its existing term loan.

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The company also did a second amendment to its $30 million 2021 Term Loan on December 31, 2021, which will provide additional financial flexibility over the near term to advance its strategic growth objectives.

In the second amendment, the company agreed to a $4.6 million January 2022 milestone payment under the Integrated Diagnostics APA. BDSX has done a $20 million repayment in outstanding principal on December 31, 2021, and hence eliminated the $600,000 prepayment fee on the $20 million Term Loan repayment.

BDSX new appointment

On December 08, 2021, Biodesix, Inc. (BDSX), appointed Dr. Jon Faiz Kayyem to the company’s board of directors.

Dr. Kayyem has more than 20 years of experience in academia, lean startups, and Fortune 100 companies. He worked at many positions at GenMark Diagnostics, including Founder, CEO, and President, Chief Scientific Officer, Senior Vice President of Research and Development.

BDSX partnership with Spesana

On December 01, 2021, Biodesix Inc. (BDSX) and Spesana partnered to further streamline and automate the use of molecular diagnostics in clinical workflows across the United States utilizing Spesana’s digital platform solutions for comprehensive lung cancer management.

BDSX latest financial results

On November 15, 2021, Biodesix, Inc. (BDSX) released its financial and operating results for the third quarter ended September 30, 2021.

Q3 2021 financial highlights

  • BDSX’s total revenue was $6.5 million in the third quarter of 2021, compared to $9.19 million in the third quarter of 2020.
  • In Q3 2021, the gross profit was $3.8 million.
  • Total operating expenses were $19.6 million in Q3 2021 compared to $15.43 million in Q3 2020.
  • It suffered a net loss of $11.5 million or a net loss per share of $0.41 in Q3 2021 compared to a net loss of $8.84 million or a net loss per share of $31.93 in Q3 2020.
  • As of September 30, 2021, the company had cash and cash equivalents of $47.9 million.

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Conclusion

The recent financial update was the reason behind its recovery in the after-hours on Tuesday. The company paid its loan early and strengthen its financial position. We can expect it to continue its momentum on Wednesday as well.

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