Boulder, Colo.–(Business concern WIRE)–$BDSX #patientsfirst—Biodesix, Inc. (Nasdaq: BDSX), a leading data-driven diagnostic solutions visitor with a focus in lung illness, today announced information technology has entered into a purchase understanding for the issuance and sale of its common stock, from time to time, of up to $50 million with Lincoln Park Capital Fund, LLC (LPC), a Chicago-based institutional investor.
Under the terms of the purchase agreement, Biodesix volition take the right at its sole discretion, but non the obligation, to sell to LPC upwardly to $l 1000000 worth of mutual stock over the 36-calendar month term of the agreement, discipline to certain conditions. There are no upper limits to the cost per common stock LPC may pay to buy the common stock, and the purchase price of the common stock volition be based on the prevailing market prices at the fourth dimension of each sale to LPC. Biodesix controls the timing and amount of any futurity sales of its common stock to LPC.
In that location are no warrants, derivatives, financial or business covenants associated with the understanding, and LPC has agreed not to cause or engage in any straight or indirect brusk selling or hedging of Biodesix’southward common stock. Biodesix may terminate the purchase agreement at whatsoever time, at its discretion, without any price or penalty. In consideration for LPC entering into the purchase agreement, Biodesix issued shares of its mutual stock to LPC every bit a fee for LPC’s obligation to purchase common stock at the Company’s discretion.
Biodesix intends to apply any net proceeds from the sale of its common stock to LPC to advance its growth strategy and for general corporate purposes.
Additional information regarding the purchase agreement with LPC is available in the Current Report on Class 8-Grand that Biodesix will file with the Securities and Exchange Commission.
This press release shall not constitute an offering to sell or a solicitation of an offer to buy any shares of mutual stock, nor shall there be any sale of shares of mutual stock in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification nether the securities laws of any such state or other jurisdiction.
Biodesix is a leading data-driven diagnostic solutions company with a focus in lung affliction. The Company develops diagnostic tests addressing of import clinical questions past combining multi-omics through the power of artificial intelligence. Biodesix is the commencement company to offer eight not-invasive 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 incidental pulmonary nodules, enabling physicians to better triage patients to the near advisable course of action. The blood based IQLung™ strategy for lung cancer patients integrates the GeneStrat ddPCR™ test, the GeneStrat NGS™ test and the VeriStrat® test to support handling decisions across all stages of lung cancer with results in an unprecedented 36-72 hours, expediting time to treatment. Biodesix too 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 affliction. Biodesix launched the SARS-CoV-2 ddPCR™ test, the Platelia SARS-CoV-2 Full Ab, and the cPass™ SARS-CoV-2 Neutralization Antibody test (cPass™ Neutralization Test Kit, GenScript, Inc,) in response to the global pandemic and virus that impacts the lung and causes COVID-19. For more information about Biodesix, visit biodesix.com.
About Lincoln Park Majuscule Fund, LLC
LPC is a long-but institutional investor headquartered in Chicago, Illinois. LPC’southward experienced professionals manage a portfolio of investments in public and private entities. These investments are in a wide range of companies and industries emphasizing life sciences and technology. LPC’s investments range from multi-year financial commitments to fund growth to special situation financings to long-term strategic uppercase offering companies’ flexibility and consistency. For more information, delight visit www.lpcfunds.com.
This press release may contain forrad-looking statements that involve substantial risks and uncertainties for purposes of the safe harbor provided by the Individual Securities Litigation Reform Human action of 1995. All statements independent in this printing release other than statements of historical fact, are frontwards-looking statements. The words “believe,” “may,” “will,” “estimate,” “go along,” “anticipate,” “intend,” “programme,” “expect,” “predict,” “potential,” “opportunity,” “goals,” or “should,” and like expressions are intended to identify forward-looking statements. Such statements are based on management’due south current expectations and involve risks and uncertainties. Actual results and functioning could differ materially from those projected in the forward-looking statements every bit a upshot of many factors. Biodesix has based these forward-looking statements largely on its current expectations and projections almost future events and trends. These forward-looking statements are bailiwick to a number of risks, uncertainties, and assumptions. Forward-looking statements may include information apropos the impact of the COVID-19 pandemic on Biodesix and its operations, it is possible or assumed future results of operations, including descriptions of its revenues, profitability, outlook, and overall business strategy. Forrad-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified. The Company’south ability to continue as a going business 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 printing release can exist plant in the Chance Factors section of Biodesix’south virtually recent annual report on Course 10-K, filed March 16, 2021 or subsequent quarterly reports on Grade 10-Q during 2021, 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 police force. Given these risks and uncertainties, readers are cautioned non to place undue reliance on such forward-looking statements. All forrard-looking statements are qualified in their entirety by this cautionary statement.