Gary Anthony Pestano, the Chief Development Officer of Biodesix Inc. (NASDAQ:BDSX), reported recent stock transactions involving the company's common stock. On November 8, Pestano acquired 1,378 shares through the vesting of restricted stock units. Following this acquisition, Pestano sold a total of 427 shares on November 11 and 12, generating $595. The shares were sold at prices ranging from $1.3909 to $1.4008. These sales were conducted to cover tax obligations related to the vesting of the restricted stock units. After these transactions, Pestano holds 127,027 shares of Biodesix common stock in direct ownership.
In other recent news, Biodesix, Inc. experienced a significant growth in the third quarter, recording a revenue of $18.2 million, a 35% increase year-over-year. The company's lung diagnostic testing revenue also saw a substantial rise of 40%, reaching $17.2 million. Despite encountering hurdles such as hurricanes and delays in biopharma service projects, Biodesix managed to reduce its net loss by 6% to $10.3 million while maintaining a robust gross margin of 78.4%. The company remains confident in its growth trajectory, reaffirming its full-year revenue guidance of $70 million to $72 million. It also aims to reach adjusted EBITDA breakeven by the second half of 2025. However, operating expenses saw an increase, rising to $22.6 million due to augmented sales and marketing efforts. These are among the recent developments for Biodesix.
InvestingPro Insights
As Gary Anthony Pestano, Biodesix Inc.'s Chief Development Officer, navigates recent stock transactions, investors might benefit from a closer look at the company's financial health. According to InvestingPro data, Biodesix has a market capitalization of $203.65 million, reflecting its current position in the biotech sector.
InvestingPro Tips highlight that Biodesix is "quickly burning through cash" and "not profitable over the last twelve months." These insights align with the company's financial metrics, including an operating income margin of -52.71% for the last twelve months as of Q3 2023. Despite these challenges, Biodesix has shown strong revenue growth, with a 48.92% increase over the same period.
Interestingly, while the stock has "fared poorly over the last month" with a -17.16% price return, it maintains a high Price / Book multiple of 7.31. This suggests that investors may still see potential in Biodesix's future prospects, despite its current profitability challenges.
For those seeking a more comprehensive analysis, InvestingPro offers additional tips and metrics to further evaluate Biodesix's financial position and market performance. With 6 tips available on InvestingPro, subscribers can gain deeper insights into the company's outlook and make more informed investment decisions.
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