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Biodesix Inc (BDSX) stock has reached a new 52-week low, trading at $1.00 USD, as the company faces ongoing market headwinds. According to InvestingPro data, while the company maintains strong liquidity with a current ratio of 3.4, it faces challenges with negative EBITDA of -$29.26M. This latest price point marks a significant downturn for the diagnostics company, which has seen its stock value decrease by 48.48% over the past year. Despite the decline, the company has achieved impressive revenue growth of 48.92% over the last twelve months. Investors are closely monitoring Biodesix's performance, as the company navigates through a challenging period marked by this notable decline in its stock price. The 52-week low serves as a critical indicator for shareholders and potential investors, reflecting the current market sentiment and the hurdles that Biodesix must overcome to regain its financial footing. InvestingPro analysis indicates the stock is currently oversold, with analysts setting price targets between $3.00 and $3.50. Access the complete Pro Research Report for deeper insights into BDSX's valuation and growth prospects.
In other recent news, Biodesix has reported a robust performance in its third quarter earnings call for 2024. The diagnostic company saw a 35% increase in revenue year-over-year, reaching $18.2 million. A significant part of this growth came from lung diagnostic testing revenue, which climbed 40% to $17.2 million. Despite operational challenges, including hurricanes and project delays, the company improved its net loss by 6% to $10.3 million and maintained a strong gross margin of 78.4%.
Biodesix also reiterated its full-year revenue guidance for 2024, aiming for a range of $70 million to $72 million. The company ended the quarter with $31.4 million in cash and announced a new $50 million ATM program. As part of its future plans, Biodesix aims to reach adjusted EBITDA breakeven by the second half of 2025. These are recent developments that highlight the company's continued growth and financial stability.
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