Biodesix, Inc. BDSX recently announced a new post-market clinical validation study, published in CHEST Pulmonary Journal. The study reaffirms the previously established performance of the BDSX’s Nodify CDT blood-based lung nodule test.
The Nodify CDT test is a blood-based diagnostic tool designed to detect cancer-associated autoantibodies, aiding in the identification of lung nodules that may be malignant. It helps healthcare providers prioritize patients for further diagnostic evaluation, potentially reducing unnecessary invasive procedures.
Likely Trend of BDSX Stock Following the News
Following the announcement, shares of the company moved north 2.7% and closed at $1.49 on Tuesday. In the past year, BDSX’s shares have lost 24.7% compared with the industry’s growth of 3.9%. The S&P 500 has gained 24.4% in the same time frame.
This news can further boost BDSX's share price in the long run by reinforcing investor confidence in its innovative diagnostics. Validating the effectiveness of the Nodify CDT test highlights its potential to improve lung cancer detection and patient management, addressing a critical healthcare need. Successful adoption of the test could drive revenue growth, establish Biodesix as a leader in the diagnostics market and attract long-term investors who value companies with impactful and validated medical solutions.
Meanwhile, BDSX currently has a market capitalization of $210.9 million. The Zacks Consensus Estimate for fiscal 2024 revenues is pegged at $70.6 million, indicating 43.7% growth from the reported figure of fiscal 2023.
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Details on BDSX’s Study Data on Nodify CDT test
The Nodify CDT test detects seven autoantibodies linked to lung cancer in blood samples, helping identify potentially cancerous lung nodules early. When combined with the Nodify XL2 test, which identifies likely benign nodules, the Nodify Lung Risk Assessment offers a comprehensive approach to reclassifying lung cancer risk and guiding the most suitable diagnostic steps, improving early detection and care decisions.
The newly published study included 447 patients with lung nodules managed conventionally without the use of the Nodify CDT or Nodify XL2 tests. In this cohort, 33% of patients with cancerous nodules received a diagnosis more than three months after lung nodule detection, representing a missed opportunity for early detection, which may have improved patient outcomes. The Nodify CDT test was performed retrospectively to analyze test performance.
The study found that the Nodify CDT test had high specificity, accurately identifying benign lung nodules as low risk, outperforming positron emission tomography (PET) scans, which had more false positives. False positives from PET scans can lead to unnecessary invasive procedures, increasing risks and costs for patients and the healthcare system. The findings highlight the Nodify CDT test's value as a safer and more precise diagnostic tool for managing lung nodules.
Favorable Industry Prospects for BDSX
Per a report by Fortune Business Insights, the global lung cancer screening market size was valued at $3.55 billion in 2024 and is expected to reach $7.10 billion by 2032, exhibiting a CAGR of 9.1% during the forecast period.
The market is thriving owing to the surge in the incidence of this type of cancer due to the increasing smoking population, technological advancements in screening and increasing government support for the early detection of cases. Moreover, strategic collaborations and updated recommendations and guidelines on screening are also likely to boost market growth in the near future.
BDSX’s Zacks Rank & Stocks to Consider
BDSX carries a Zacks Rank #3 (Hold) at present.
Some better-ranked stocks in the broader medical space are Masimo MASI, Accuray ARAY and Abbott Laboratories ABT.
Masimo, carrying a Zacks Rank #2 (Buy) at present, has an estimated growth rate of 11.8% for 2025. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
MASI’s earnings surpassed estimates in each of the trailing four quarters, delivering an average surprise of 17.10%. Its shares have risen 31.7% against the industry’s 1% decline in the past six months.
Accuray, carrying a Zacks Rank #2 at present, has an estimated growth rate of 1200% for 2025. Its earnings missed estimates in three of the trailing four quarters and met in one, delivering an average negative surprise of 141.97%.
ARAY’s shares have gained 8.8% against the industry’s 1% decline in the past six months.
Abbott, carrying a Zacks Rank of 2 at present, has an estimated earnings growth rate of 10% for 2025. It delivered a trailing four-quarter average earnings surprise of 1.64%.
ABT’s shares have risen 8.5% in the past six months compared with the industry’s 7.2% growth.
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