Boulder, Colorado-based , a developer of diagnostics for lung disease and COVID-19, is the latest well-funded biotech company to plan its public market debut.
Subscribe to the Ƶ Daily
The company filed an IPO prospectus with the U.S. Securities and Exchange Commission on Friday, seeking to raise up to $75 million in a Nasdaq offering.
Biodesix describes itself as a “data-driven diagnostic solutions company” that incorporates artificial intelligence into its platform to develop and commercialize diagnostics for unmet clinical needs, with a primary focus on lung disease.
While best known for its lung diagnostics, the company has also responded to the COVID-19 pandemic by entering partnerships to offered to health care and nursing home care providers, educational institutions and businesses. Biodesix said it expects increased revenues from COVID-19 diagnostic and antibody tests over the course of 2020 and the first quarter of 2021.
Founded in 2005, Biodesix previously raised $188 million in venture funding, per Ƶ data. Its largest stakeholders include biotech investors and John Patience, per the SEC filing.
For the first six months of 2020, the company posted $9.3 million in revenue and a loss of $18 million, compared to revenue of $12.3 million and a net loss of $14.6 million in the year-ago period.
Illustration:
Stay up to date with recent funding rounds, acquisitions, and more with the Ƶ Daily.


67.1K Followers