Skip to content

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.

Join the Conversation

We invite you to use our commenting platform to engage in insightful conversations about issues in our community. We reserve the right at all times to remove any information or materials that are unlawful, threatening, abusive, libelous, defamatory, obscene, vulgar, pornographic, profane, indecent or otherwise objectionable to us, and to disclose any information necessary to satisfy the law, regulation, or government request. We might permanently block any user who abuses these conditions.