Diagnostics provider Biodesix prices downsized $72 million IPO at $18 midpoint

Biodesix, which provides diagnostic tests and services for lung disease and other unmet needs, raised $72 million by offering 4 million shares at $18, the midpoint of its range of $17 to $19. The company had originally filed to offer 4.2 million shares. 

The company provides data-driven diagnostic solutions to discover, develop, and commercialize solutions for clinical unmet needs, with a primary focus in lung disease. It operates through two segments, diagnostic tests (78% of 1H20 revenue) and diagnostic services (22%). Biodesix currently has four diagnostic blood-based tests across the lung cancer continuum of care.

Biodesix plans to list on the Nasdaq under the symbol BDSX. Morgan Stanley, William Blair, Canaccord Genuity and BTIG acted as joint bookrunners on the deal.

The article Diagnostics provider Biodesix prices downsized $72 million IPO at $18 midpoint originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.

Investment Disclosure: The information and opinions expressed herein were prepared by Renaissance Capital's research analysts and do not constitute an offer to buy or sell any security. Renaissance Capital's Renaissance IPO ETF (symbol: IPO), Renaissance International ETF (symbol: IPOS), or separately managed institutional accounts may have investments in securities of companies mentioned.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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