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Biodesix Inc. (Nasdaq: BDSX) grew its year-over-year losses by nearly three-fold in the fourth quarter and matched Wall Street analysts’ predictions for a tough earnings period for the Boulder pharmaceutical diagnostics company.

Losses on the quarter were almost $13.3 million and more than $43 million for the full 2021 fiscal year, up from losses of about $31 million the previous year.

The fourth-quarter result represents an earnings per share loss of 49 cents, slightly less than the Zacks Consensus Estimate of 50 cents.

Revenues for the quarter and full fiscal year were $7.2 million and $54.5 million, respectively.

Part of the reason for the fourth-quarter slide compared with the same period last year was due to a drop in COVID-19 testing revenue as fewer people sought out Biodesix’s lab-based testing and more relied on at-home products.

Operating expenses for the quarter and year were up 9% and 40%, reflecting a doubling of the company’s lung-focused sales force.

Biodesix’s stock ended Monday trading down 3.57%. Over the last year, the stock has shed 90.60% of its value.

In 2022, Biodesix estimates that it will record sales between $37.5 million to $39.5 million.

This article was first published by BizWest, an independent news organization, and is published under a license agreement. © 2022 BizWest Media LLC.

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