Biodesix

Canaccord Genuity Acts as Joint Bookrunner on $55M Oversubscribed Common Stock and Concurrent Private Placement Financing by Biodesix, Inc. (NasdaqGM:BDSX)

Canaccord Genuity is pleased to announce that on April 9, 2024, it completed a public offering of common stock and concurrent private placement for Biodesix, Inc. (NasdaqGM:BDSX) (the “Company”). The Company issued 17,391,832 shares of its common stock at a price to the public of $1.15 per share. In addition, Biodesix has entered into securities purchase agreements for a concurrent private placement of 760,857 shares of its Series A Non-Voting Convertible Preferred Stock at a price of $46.00 per share. Subject to Biodesix stockholder approval, each share of Series A Non-Voting Convertible Preferred Stock will automatically convert to 40 shares of common stock for an aggregate of 30,434,280 shares of common stock. The gross proceeds to Biodesix from the underwritten offering and concurrent private placement, before deducting underwriting discounts and commissions, placement agent fees and other offering expenses payable by Biodesix, and following the receipt of stockholder approval, are expected to be $55.0 million. Company intends to use the net proceeds from this offering and the concurrent private placement for commercial expansion of sales, supporting the product pipeline, research and development and for general corporate purposes.

Canaccord Genuity acted as Joint Bookrunning Manager for the offering.

Biodesix is a leading diagnostic solutions and services company with a focus in lung disease. The Company develops diagnostic tests addressing important clinical questions by combining multi-omics through the power of artificial intelligence. Biodesix offers five Medicare-covered tests for patients with lung diseases. The blood based Nodify Lung® Nodule Risk Assessment testing strategy, consisting of the Nodify XL2® and the Nodify CDT® tests, evaluates the risk of malignancy in incidental pulmonary nodules, enabling physicians to better triage patients to the most appropriate course of action. The blood based IQLung™ strategy for lung cancer patients integrates the GeneStrat® targeted ddPCR™ test, the GeneStrat NGS® test and the VeriStrat® test to support treatment decisions across all stages of lung cancer with results in an average of two to three business days, expediting the time to treatment. Biodesix also leverages the proprietary and advanced Diagnostic Cortex® AI (Artificial Intelligence) platform, to collaborate with many of the world’s leading biotechnology and pharmaceutical companies to solve complex diagnostic challenges in lung disease.