Scott Hutton, president and CEO of Biodesix Inc. (Nasdaq: BDSX), commemorated a significant milestone on November 1, 2023, by ringing the closing bell at Nasdaq. This event marked exactly five years since the company went public and celebrated its recent return to compliance with the exchange’s requirements.
Based in Louisville, Biodesix specializes in developing diagnostic tests for lung diseases. Earlier this year, the company faced the possibility of delisting from Nasdaq after its stock fell below the $1 minimum threshold for a duration of 30 days. In September, a one-for-20 reverse stock split was implemented, allowing the company to regain compliance.
Reflections on Progress and Commitment
As Hutton prepared to ring the bell, he expressed his pride in the company’s journey over the past five years. “It’s really remarkable to be here today to celebrate the anniversary of our IPO exactly five years ago today,” he stated. He emphasized the commitment of the Biodesix team to partner with physicians in the fight against lung cancer, which remains the deadliest form of cancer. Hutton noted, “More people will die of lung cancer this year than the next three cancers combined. At Biodesix, we’re going to remain committed to helping physicians change that.”
The company employs around 300 individuals, with approximately half working at its headquarters located at 919 W. Dillon Road, a property that previously housed a Kohl’s store and spans 80,000 square feet.
Upcoming Financial Reports and Stock Performance
Biodesix is set to release its third-quarter financial results on November 3. As of the most recent trading session, the company’s stock closed at $6.44, reflecting a drop of 11 cents.
The celebration at Nasdaq not only highlighted the company’s resilience but also underscored its ongoing mission to improve diagnostic capabilities for lung cancer patients. With a focused team and a renewed commitment to innovation, Biodesix aims to continue making strides in the healthcare sector.
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