Biodesix, Inc. (BDSX) is a diagnostic company specializing in the development and commercialization of proprietary tests and services that assist in clinical decision-making. The company provides diagnostic testing for lung diseases and offers services to biopharmaceutical and life sciences companies. Its offerings include blood-based tests and diagnostic platforms designed to improve patient outcomes.
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Lung Diagnostic Testing - Provides blood-based diagnostic tests for lung diseases, delivering results to healthcare providers, physicians, or patients. Revenue is generated through billing third parties such as Medicare, medical facilities, and insurance payers.
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Development Services - Offers diagnostic testing services to biopharmaceutical, life sciences, and diagnostic companies, including on-market tests, pipeline tests, custom diagnostics, and licensing digital sequencing technologies.
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| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Robin Harper Cowie ExecutiveBoard | Chief Financial Officer (CFO) | Board member of the Colorado Bioscience Association | Robin Harper Cowie is the Chief Financial Officer of BDSX since April 2017, overseeing the company’s financial strategies. Previously, she served as Vice President of Finance from February 2016 to April 2017 and held additional leadership roles at BDSX. | |
Scott Hutton ExecutiveBoard | President, Chief Executive Officer, and Director | Director and Board Secretary of Coalition for 21st Century Medicine; Board Member of Eximis Surgical, Inc. | Scott Hutton has been the President, Chief Executive Officer, and Director of BDSX since January 2020. Previously, he served as Chief Operating Officer from March 2018 to December 2019. | View Report → |
Kieran O’Kane Executive | Chief Commercial Officer | Kieran O’Kane has served as the Chief Commercial Officer at Biodesix since March 2020 after joining in multiple marketing management roles in February 2018, contributing notably to the company's commercial strategies and product launches. | ||
Hany Massarany Board | Class III Director | Director at Accelerate Diagnostics; Chairman at Accelerate Diagnostics | Hany Massarany has been a Director at BDSX since July 2020 and currently serves as a Class III Director with his term expiring at the 2026 Annual Meeting. He also holds active leadership roles in healthcare, serving as Director (since 2020) and Chairman (since February 2023) at Accelerate Diagnostics. | |
Jean Franchi Board | Director of BDSX | CFO of Disc Medicine, Inc.; Board Member at VectorY Therapeutics | Jean Franchi has served as the Director of BDSX since April 2020. She is an experienced finance executive, currently serving as CFO of Disc Medicine, Inc. and as a Board Member at VectorY Therapeutics. | |
John Patience Board | Chairman of the Board | Director at Accelerate Diagnostics, Inc. ; Founding Partner at Crabtree Partners | John Patience is the Chairman of the Board at BDSX since September 2020. He has been with BDSX since June 2008 as a Director, providing strategic oversight as an Independent Director. | |
Jon Faiz Kayyem Board | Director | Inhibrx, Inc. | Jon Faiz Kayyem, Ph.D. has served as a Director at BDSX since December 2021 and is an independent Class I Director with his current term set to expire in 2024. He brings over 20 years of experience in molecular diagnostics and has held leadership roles such as CEO, founder, and board member at companies including GenMark Diagnostics, Inc. and Calimmune, Inc.. | |
Lawrence T. Kennedy Board | Director | Managing Partner and Chief Executive Officer at Westwood Management; Board Member at Healthcare for Kids; Board Member at Caliber Healthcare Solutions; Board Member at Revolution 4.0; Board Member at Health Carousel | Lawrence T. Kennedy, Jr. has served as a Director at Biodesix (BDSX) since January 2023 as an independent, Class II Director with a term expiring in 2025. He has over 25 years of experience in healthcare and is currently the Managing Partner and Chief Executive Officer of Westwood Management. | |
Matthew Strobeck Board | Class II Director | Managing Partner of Birchview Capital LP; Director at QuidelOrtho Corporation; Director at Accelerate Diagnostics; Director at Monteris Medical Corporation; Director at Schuler Education Foundation | Matthew Strobeck, Ph.D., has served as a Director at Biodesix since January 2012. He is known for his extensive experience in healthcare and investment management, notably as the Managing Partner of Birchview Capital LP and through various board positions. |
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How will the management team address the revenue shortfall caused by the reduced number of sales reps in Q1, and what specific measures are in place to expedite the onboarding and ramp-up of new primary care reps to mitigate this impact?
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With the decision to reconfigure the sales force into a pod-based structure, can you elaborate on how you will balance the focus between maintaining strong relationships with pulmonologists and efficiently tapping into the 15,000 key primary care physicians?
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Considering the increased attrition observed among associate sales consultants during the territory consolidation, what steps are being taken to ensure that the loss of potential talent does not adversely affect future growth in test volumes?
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Given the competitive crowded space of NGS testing and its modest contribution to overall revenue, how does the company plan to differentiate the GeneStrat NGS test and justify its strategic importance within the treatment guidance portfolio?
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In light of the current tariff and favored nations pricing environment, what contingency plans does management have if these external pricing pressures begin to impact the biopharma services segment, which has been a consistent supplier of around 10% of total revenue?
Competitors mentioned in the company's latest 10K filing.
| Company | Description |
|---|---|
Efforts are being made to develop and validate a test that may be competitive to the Nodify XL2 and/or Nodify CDT tests in the future. | |
Competes with the company's GeneStrat ddPCR and GeneStrat NGS tests in tumor profiling through liquid biopsy. | |
Foundation Medicine | Competes with the company's GeneStrat ddPCR and GeneStrat NGS tests in tumor profiling through liquid biopsy. |
Tempus AI | Competes with the company's Development Services for biopharmaceutical, life science, and research partners in tumor profiling. |
Competes with the company's Development Services for biopharmaceutical, life science, and research partners in tumor profiling. | |
Competes with the company's Development Services in the immune profiling market. | |
Competes with the company's Development Services in the immune profiling market. |
Recent press releases and 8-K filings for BDSX.
- Biodesix is expanding its commercial focus to include primary care physicians, with 9% of Q2 2025 orders coming from this new channel. The company plans to increase its sales force from 74 reps to 85 by the end of Q3 2025 and 95 by the end of Q4 2025 to support this expansion.
- The company exited Q2 2025 with $12.5 million in biopharmaceutical revenue under contract but not yet recognized, reflecting growth in bespoke assay development and reorders.
- Biodesix is developing a joint proteomic-genomic MRD test in partnership with Memorial Sloan Kettering, which will be available for Research Use Only (RUO) by the end of 2025, but is not planned for commercialization in 2026.
- Financially, Biodesix has approximately $20 million in cash and a quarterly cash burn of $5 million to $10 million. The company aims to fuel growth, expand its sales force, and reach adjusted EBITDA breakeven.
- Biodesix reports an industry-leading gross margin of 80%.
- Biodesix Inc. reported Q1 2025 revenue of $18,000,000, marking 21% year-over-year growth, with lung diagnostic tests growing 18% and development services 61%.
- The company maintained gross margins just under 80% and reiterated its goal to reach adjusted EBITDA breakeven by Q4 2025.
- Fiscal year 2025 revenue guidance was revised to $80,000,000 to $85,000,000.
- Biodesix plans to expand its commercial sales force to 95 representatives by year-end, focusing on pulmonology and extending reach to primary care physicians.
- The product pipeline includes four tests in development, with plans to merge risk of recurrence and MRD efforts, expand Verastrat indications, and venture into digital diagnostics.