Biodesix, Inc. (NASDAQ:BDSX) Q2 2021 Earnings Conference Call August 10, 2021 4:30 PM ET Company Participants Chris Brinzey - Investor Relations Scott Hutton - Chief Executive Officer Robin Harper Cowie - Chief Financial Officer Conference Call Participants Yuko Oku - Morgan Stanley Brian Weinstein - William Blair Kyle Mikson - Canaccord Genuity Operator Good day and thank you for standing by. Welcome to the Biodesix Second Quarter 2021 Financial Results and Business Update Conference Call. At this time, al ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-39659 | --- | --- | --- | |------------------------------------------------------------------------------------------------------- ...

Financial Performance - The company reported record revenue of $28.9 million for Q1 2021, representing a year-over-year increase of 466% and a sequential increase of 7% from Q4 2020 [7][30]. - COVID-19 testing services revenue was $23.2 million in Q1 2021, with an 8% sequential growth over Q4 2020 [32]. - Lung diagnostic revenue increased to $4.0 million in Q1 2021, up 10% year-over-year and 8% sequentially from Q4 2020 [33]. - Biopharma services revenue was $1.7 million in Q1 2021, a 12% increase year-over-year but a 12% decline sequentially from Q4 2020 [37]. - The net loss for Q1 2021 was $7.0 million, an improvement from a net loss of $9.7 million in Q1 2020 [47]. Business Lines Performance - COVID-19 testing services significantly contributed to overall revenue growth, while lung diagnostic testing showed signs of recovery as pulmonologists began seeing more non-COVID patients [31][35]. - The company has six diagnostic tests available, focusing on lung disease, with Nodify XL2 and Nodify CDC tests aimed at assessing lung cancer risk [17]. - The new liquid biopsy next-generation sequencing test is expected to launch commercially in the first half of 2022, with a 72-hour turnaround time [22][25]. Market Data - The company estimates a target addressable market greater than $29 billion for its core business in lung disease diagnostics [16]. - The overall demand for COVID-19 testing is expected to decline throughout the year, but the company anticipates recurring demand in the fall for schools and travel [68]. Company Strategy and Industry Competition - The company is focused on expanding its sales force, aiming to double its size in 2021 to better reach physicians [20][82]. - The introduction of the cPass COVID-19 Neutralization Antibody Detection test and the new NGS test are part of the company's strategy to enhance its product portfolio [57][101]. - The competitive landscape for the liquid biopsy test is acknowledged as crowded, but the company believes its offerings will complement existing tests [60][65]. Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the recovery of lung diagnostic testing as pulmonologists return to normal workflows [56]. - The company is not providing specific revenue or earnings guidance due to the evolving nature of the pandemic but expects year-over-year revenue growth [51]. - The management highlighted the importance of adapting to changing healthcare needs and maintaining a disciplined focus on costs while investing in growth [54]. Other Important Information - The company ended Q1 2021 with $55.3 million in cash and cash equivalents, reflecting a reduction due to increased working capital [48]. - A new $30 million term loan was secured to enhance financial flexibility, allowing for continued growth and expansion of the clinical pipeline [49][50]. Q&A Session Summary Question: What remains to be done for the 52 Gene Liquid Biopsy panel before commercialization? - The company is working towards commercialization and regulatory submission, ensuring readiness to scale the test [61][63]. Question: What is the expected contribution of COVID testing revenue throughout the year? - The company anticipates a decline in COVID testing revenue but expects recurring demand in the fall [68]. Question: How is the company addressing the backlog of patients needing diagnostic workups? - The company is doubling its sales force and focusing on in-person sales calls as pulmonologists return to normal patient volumes [82][84]. Question: What allows the company to achieve a 72-hour turnaround time for the NGS test? - The company has expanded its laboratory capacity and operates 24/7, leveraging resources from COVID testing [88][90]. Question: What is the go-to-market strategy for the neutralizing antibody test? - The company aims to position itself as a comprehensive COVID solution provider, reaching out to existing testing partners to introduce the new test [100][101].

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-39659 | --- | --- | --- | |------------------------------------------------------------------------------------------------------ ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2020 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM TO Commission File Number 001-39659 | --- | --- | --- | |---------------------------------------------------------------------------------------------------------- ...

t UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2020 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-39659 BIODESIX, INC. (Exact Name of Registrant as Specified in its Charter) Delaware 20-3986492 ( State or other jurisdicti ...