Biodesix Announces Four Presentations of Health Economic Data Highlighting Cost Saving Potential of Nodify Lung® Testing

BOULDER, Colo.--(BUSINESS WIRE)--Biodesix, Inc. (Nasdaq: BDSX), a leading data-driven diagnostic solutions company with a focus in lung disease, presented original data in four separate poster presentations at the ISPOR (International Society for Pharmaceutical and Outcomes Research) conference, providing evidence of the health economic benefits of the Nodify CDT® and Nodify XL2® tests in the management of pulmonary nodules. The posters, presented May 8-9, 2023, highlighted potential cost savings in both Medicare and commercially insured patient populations with use of the tests.

The analyses estimated cost savings in a hypothetical population of 1 million patients in a US Medicare or commercial payer setting over a 2-year time horizon. The results predicted that plans would save $600,000 to $3.9 million with use of the tests in the treatment pathways for managing pulmonary nodules.

The two posters assessing budget impact of the Nodify XL2 test, titled “Budget Impact of a Blood-Based Integrated Classifier Test to Reclassify Risk of Pulmonary Nodules in a US Commercial Payer Setting” and “Budget Impact of a Blood-Based Integrated Classifier Test to Down Classify Risk of Pulmonary Nodules in a US Medicare Payer Setting,” highlighted the cost-savings to payers by incorporating Nodify XL2 use, with cost-savings largely attributed to the ability of the test to reduce invasive procedures on benign nodules. Prior studies have shown that work up of benign nodules make up the majority of costs of pulmonary nodule management.

The two posters assessing budget impact of the Nodify CDT test, titled "Budget Impact of a Blood-Based Auto-Antibody Test to Up-Classify Risk of Pulmonary Nodules in a US Commercial Payer Setting" and "Budget Impact of a Blood-Based Auto-Antibody Test to Up-Classify Risk of Pulmonary Nodules in a US Medicare Payer Setting," focused on the ability of the test to support earlier diagnosis of lung cancer leading to an increase in stage I diagnoses and improved patient outcomes. At earlier stages, patients are eligible for potentially curative surgical resection with a lower cost profile compared to standard of care therapies for advanced stage lung cancer.

"These data presented at ISPOR solidifies the transformative potential of our Nodify CDT and Nodify XL2 tests," said Scott Hutton, CEO of Biodesix. "Establishing the healthcare cost savings that result from broad use of the tests is an important step to showcasing the utility of the tests throughout the healthcare ecosystem. Our commitment is to pursue innovations that transform patient care while bringing economic balance to the healthcare system."

About Biodesix

Biodesix is a leading data-driven diagnostic solutions company with a focus in lung disease. The Company develops diagnostic tests addressing important clinical questions by combining multi-omics through the power of artificial intelligence. Biodesix offers five Medicare-covered tests for patients with lung diseases. The blood based Nodify Lung^® nodule risk assessment testing strategy, consisting of the Nodify XL2^® and the Nodify CDT^® tests, evaluates the risk of malignancy in pulmonary nodules, enabling physicians to better triage patients to the most appropriate course of action. The blood based IQLung™ strategy for lung cancer patients integrates the GeneStrat^® targeted ddPCR™ test, the GeneStrat NGS™ test and the VeriStrat® test to support treatment decisions across all stages of lung cancer with results in an average of two to three business days, expediting time to treatment. Biodesix also leverages the proprietary and advanced Diagnostic Cortex^® AI (Artificial Intelligence) platform, to collaborate with many of the world’s leading biotechnology and pharmaceutical companies to solve complex diagnostic challenges in lung disease. For more information about Biodesix, visit biodesix.com.

Note Regarding Forward-Looking Statements

This press release may contain forward-looking statements that involve substantial risks and uncertainties for purposes of the safe harbor provided by the Private Securities Litigation Reform Act of 1995. All statements contained in this press release other than statements of historical fact, are forward-looking statements. The words “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “plan,” “expect,” “predict,” “potential,” “opportunity,” “goals,” or “should,” and similar expressions are intended to identify forward-looking statements. Such statements are based on management’s current expectations and involve risks and uncertainties. Actual results and performance could differ materially from those projected in the forward-looking statements as a result of many factors. Biodesix has based these forward-looking statements largely on its current expectations and projections about future events and trends. These forward-looking statements are subject to a number of risks, uncertainties, and assumptions. Forward-looking statements may include information concerning the impact of the COVID-19 pandemic on Biodesix and its operations, its possible or assumed future results of operations, including descriptions of its revenues, profitability, outlook, and overall business strategy. Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified. The Company's ability to continue as a going concern could cause actual results to differ materially from those contemplated in this press release and additionally, other factors that could cause actual results to differ materially from those contemplated in this press release can be found in the Risk Factors section of Biodesix’s most recent annual report on Form 10-K, filed March 14, 2022 or subsequent quarterly reports on Form 10-Q during 2022, if applicable. Biodesix undertakes no obligation to revise or publicly release the results of any revision to such forward-looking statements, except as required by law. Given these risks and uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. All forward-looking statements are qualified in their entirety by this cautionary statement.