Skip to main content
Premium Trial:

Request an Annual Quote

Biodesix Inks $50M Stock Sale Agreement

NEW YORK — Biodesix said on Monday that it has signed an agreement to sell up to $50 million of its common stock to institutional investor Lincoln Park Capital Fund (LPC).

Under the terms of the deal, Biodesix has the option to sell to LPC up to $50 million in common stock over a 36-month term. The purchase price of the shares will be based on prevailing market prices at the time of each sale, and there are no upper limits to the price per share LPC may pay.

Biodesix said that it will use the proceeds of the sale to advance its growth strategy and for general corporate purposes.

Last month, Biodesix reported a 73 percent drop in preliminary fourth quarter revenues, caused by lower COVID-19 testing revenues, but said that its core lung diagnostic testing revenues were up 49 percent year over year. Based on the preliminary numbers, the Boulder, Colorado-based company said it had $32.7 million in cash and cash equivalents at the end of 2021.

The Scan

ChatGPT Does As Well As Humans Answering Genetics Questions, Study Finds

Researchers in the European Journal of Human Genetics had ChatGPT answer genetics-related questions, finding it was about 68 percent accurate, but sometimes gave different answers to the same question.

Sequencing Analysis Examines Gene Regulatory Networks of Honeybee Soldier, Forager Brains

Researchers in Nature Ecology & Evolution find gene regulatory network differences between soldiers and foragers, suggesting bees can take on either role.

Analysis of Ashkenazi Jewish Cohort Uncovers New Genetic Loci Linked to Alzheimer's Disease

The study in Alzheimer's & Dementia highlighted known genes, but also novel ones with biological ties to Alzheimer's disease.

Tara Pacific Expedition Project Team Finds High Diversity Within Coral Reef Microbiome

In papers appearing in Nature Communications and elsewhere, the team reports on findings from the two-year excursion examining coral reefs.