Biodesix-BDSX Stock Rises After Publication of Study Data for Nodify CDT Test

Company Overview - Biodesix, Inc. (BDSX) announced a new post-market clinical validation study published in CHEST Pulmonary Journal, reaffirming the performance of its Nodify CDT blood-based lung nodule test [1][4] - The Nodify CDT test is designed to detect cancer-associated autoantibodies, aiding in the identification of potentially malignant lung nodules and helping healthcare providers prioritize further diagnostic evaluations [2][6] Stock Performance - Following the announcement, BDSX shares increased by 2.7%, closing at $1.49, although the stock has lost 24.7% over the past year compared to the industry's growth of 3.9% and the S&P 500's gain of 24.4% [3][4] Market Capitalization and Revenue Estimates - BDSX currently has a market capitalization of$ 210.9 million, with the Zacks Consensus Estimate for fiscal 2024 revenues at $70.6 million, indicating a growth of 43.7% from fiscal 2023 [5] Study Data and Findings - The study included 447 patients with lung nodules managed conventionally, revealing that 33% of patients with cancerous nodules received a diagnosis more than three months after detection, indicating missed opportunities for early detection [8] - The Nodify CDT test demonstrated high specificity in accurately identifying benign lung nodules, outperforming PET scans, which had more false positives, thus highlighting the test's value as a safer diagnostic tool [9] Industry Prospects - The global lung cancer screening market was valued at$ 3.55 billion in 2024 and is projected to reach $7.10 billion by 2032, with a CAGR of 9.1% during the forecast period [10] - The market growth is driven by increasing lung cancer incidence due to smoking, technological advancements in screening, and government support for early detection [11]