After announcing an expansion move, shares of Biodesix Inc. (NASDAQ: BDSX) were up 18.91% at $2.39 at the time of our last check in active trading.
How has BDSX’s growth been going?
This month, Biodesix (BDSX) announced favorable coverage decisions from four private payers, including Capital District Physician’s Health Plan (CDPHP) of New York, Blue Cross Blue Shield of South Carolina, Blue Cross Blue Shield of North Carolina, and Blue Cross Blue Shield of Kansas City, all effective in the fourth quarter of 2022.
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More than 2.3 million Blue Cross of North Carolina enrollees, 1.2 million Blue Cross Blue Shield of South Carolina enrollees, 0.5 million Blue Cross Blue Shield of Kansas City enrollees, and 0.4 million CDPHP participants throughout New York State will now be covered by Biodesix’s Nodify XL2 test.
To assist clinical decision-making throughout the lung cancer continuum of treatment, BDSX offers a complete suite of five precision diagnostics that are currently available on the market. While Medicare covers each of the five tests in BDSX’s core range of lung diagnostic tests, the company has been waiting for the first commercial payer coverage guidelines.
Not only did BDSX acquire its first private payer coverage, but it also quickly added its first four, bringing the total number of insured lives to over 4.5 million. These regulations show the importance payers place on BDSX’s test and how it may improve patients’ lives.
A blood-based proteomic test called Biodesix Nodify XL2 was created to assist healthcare professionals (HCPs) in promptly identifying individuals with probable benign lung nodules who would benefit from CT monitoring. The test has a 98% negative predictive value, according to clinical validation studies, which helps HCPs avoid needless interventional operations on benign lung nodules.
A significant publication featured BDSX:
The December 2022 issue of Life Sciences Review Magazine, titled “Top 10 Proteomics Solutions Companies of 2022,” recognized Biodesix (BDSX) as the top protomics solutions company in the United States. Clinically significant proteome variations in patient groups may be identified using Biodesix’s core technologies, considerable machine learning, and transparent AI expertise to assist a direct treatment approach. Over 125,000 proteome assays have been carried out by Biodesix for academic and medical purposes so far.
