Biodesix, which provides diagnostic tests and services for lung disease and other unmet needs, announced terms for its IPO on Wednesday.
The Boulder, CO-based company plans to raise $75 million by offering 4.2 million shares at a price range of $17 to $19. At the midpoint of the proposed range, Biodesix would command a fully diluted market value of $521 million.
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 and diagnostic services. Biodesix currently has four diagnostic blood-based tests across the lung cancer continuum of care.
Biodesix was founded in 2005 and booked $22 million in revenue for the 12 months ended June 30, 2020. It plans to list on the Nasdaq under the symbol BDSX. Morgan Stanley, William Blair, Canaccord Genuity and BTIG are the joint bookrunners on the deal. It is expected to price during the week of October 26, 2020.
