Bio-De-Si-X Inc. Files Q3 2024 10-Q

TL;DR

Bio-De-Si-X Q3 10-Q filed. Assets, loans, and past deals detailed.

AI Summary

Bio-De-Si-X Inc. reported its Q3 2024 results, ending September 30, 2024. The company's filing details various financial aspects, including current and non-current assets, and mentions contingent consideration related to Integrated Diagnostics Inc. from 2018. The filing also references a Perceptive Term Loan and share-based compensation awards.

Why It Matters

This filing provides investors with the latest financial performance and operational details for Bio-De-Si-X Inc., crucial for understanding the company's current health and future prospects.

Risk Assessment

Risk Level: medium — The filing contains standard financial reporting information, but the mention of contingent consideration and term loans suggests potential financial complexities.

Key Numbers

• 2024-09-30 — Fiscal Period End (Q3 2024 reporting period)
• 2024-11-01 — Filing Date (Date the 10-Q was submitted)

Key Players & Entities

• BIODESIX INC (company) — Filer
• Integrated Diagnostics Inc (company) — Related to contingent consideration
• Perceptive Term Loan (dollar_amount) — Loan mentioned in filing

FAQ

Key Financial Figures

• $0.001 — ch registered Common Stock, par value $0.001 per share BDSX The NASDAQ Global Ma

Filing Documents

• bdsx-20240930.htm (10-Q) — 2078KB
• bdsx-ex10_1.htm (EX-10.1) — 54KB
• bdsx-ex31_1.htm (EX-31.1) — 15KB
• bdsx-ex31_2.htm (EX-31.2) — 15KB
• bdsx-ex32_1.htm (EX-32.1) — 7KB
• bdsx-ex32_2.htm (EX-32.2) — 8KB
• 0000950170-24-119792.txt ( ) — 9771KB
• bdsx-20240930.xsd (EX-101.SCH) — 1745KB
• bdsx-20240930_htm.xml (XML) — 1510KB

Financial Statements (Unaudited)

Financial Statements (Unaudited) 1 Condensed Balance Sheets as of September 30, 2024 and December 31, 2023 1 Condensed Statements of Operations for the Three and Nine Months Ended September 30, 2024 and 2023 2 Condensed Statements Stockholders' Equity (Deficit) for the Three and Nine Months Ended September 30, 2024 and 2023 3 Condensed Statements of Cash Flows for the Nine Months Ended September 30, 2024 and 2023 5 Notes to Condensed Financial Statements 7 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 24 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 36 Item 4.

Controls and Procedures

Controls and Procedures 36 PART II. OTHER INFORMATION 38 Item 1.

Legal Proceedings

Legal Proceedings 38 Item 1A.

Risk Factors

Risk Factors 38 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 38 Item 3. Defaults Upon Senior Securities 39 Item 4. Mine Safety Disclosures 39 Item 5. Other Information 39 Item 6. Exhibits 40 Signature 41 i SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS This Quarterly Report on Form 10-Q contains forward-looking statements about us and our industry that involve substantial risks and uncertainties, including but not limited to those set forth under the caption "Special Note Regarding Forward-Looking Statements" and Item 1A. "Risk Factors" of Part II of this Quarterly Report on Form 10-Q and those discussed in our other filings with the Securities and Exchange Commission (SEC), including the risks described in Item 1A. "Risk Factors" of Part I of our Annual Report on Form 10-K for the year ended December 31, 2023, which was filed on March 1, 2024. All statements other than statements of historical facts contained in this Quarterly Report on Form 10-Q, including statements regarding our future financial condition, results of operations, business strategy and plans, and objectives of management for future operations, as well as statements regarding industry trends, are forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "plan," "potentially," "predict," "should," "will" or the negative of these terms or other similar expressions. We have based these forward-looking statements largely on our current expectations and projections about future events and trends that we believe may affect our financial condition, results of operations, business strategy and financial needs. These forward-looking statements are subject to a number of risks, uncertainties, factors, and assumptions described under the section titled "Risk Factors" in this Report and in the section entit

—FINANCI AL INFORMATION

PART I—FINANCI AL INFORMATION

Financi al Statements (Unaudited)

Item 1. Financi al Statements (Unaudited). BIODESIX, INC. Condensed Balance S heets (in thousands, except share data) September 30, 2024 December 31, 2023 Assets Current assets Cash and cash equivalents $ 31,406 $ 26,284 Accounts receivable, net of allowance for credit losses of $ 246 and $ 65 8,036 7,679 Other current assets 4,575 5,720 Total current assets 44,017 39,683 Noncurrent assets Property and equipment, net 28,683 27,867 Intangible assets, net 6,438 7,911 Operating lease right-of-use assets 1,918 1,745 Goodwill 15,031 15,031 Other long-term assets 6,656 6,859 Total noncurrent assets 58,726 59,413 Total assets $ 102,743 $ 99,096 Liabilities and Stockholders' Equity Current liabilities Accounts payable $ 2,537 $ 2,929 Accrued liabilities 8,553 7,710 Deferred revenue 676 324 Current portion of operating lease liabilities 624 252 Current portion of contingent consideration — 21,857 Current portion of notes payable 29 51 Other current liabilities 544 293 Total current liabilities 12,963 33,416 Noncurrent liabilities Longterm notes payable, net of current portion 36,112 35,225 Long-term operating lease liabilities 25,191 25,163 Other long-term liabilities 620 712 Total noncurrent liabilities 61,923 61,100 Total liabilities 74,886 94,516 Commitments and contingencies Stockholders' equity Preferred stock, $ 0.001 par value, 5,000,000 authorized; 0 (2024 and 2023) issued and outstanding — — Common stock, $ 0.001 par value, 200,000,000 authorized; 145,465,941 (2024) and 96,235,883 (2023) shares issued and outstanding 145 96 Additional paidin capital 481,958 424,050 Accumulated deficit ( 454,246 ) ( 419,566 ) Total stockholders' equity 27,857 4,580 Total liabilities and stockholders' equity $ 102,743 $ 99,096 The accompanying Notes are an in

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View this 10-Q filing on SEC EDGAR