Lucid Diagnostics Announces Record Quarterly EsoGuard® Test Volume
Lucid Diagnostics Inc. (Nasdaq: LUCD) reported a record-breaking quarter for its EsoGuard® Esophageal DNA test volume. In Q2 2024, the company performed 3,174 tests, marking a 31% increase from Q1. This growth is attributed to expanded awareness and demand for EsoGuard esophageal precancer testing across various healthcare settings.
CEO Lishan Aklog emphasized the company's focus on increasing access to EsoGuard testing. Lucid expects to release full Q2 2024 results in mid-August. Additionally, the company held a productive meeting with CMS Medicare Administrative Contractor Palmetto GBA's Molecular Diagnostics Program (MolDX), which included key executives and medical experts in gastroenterology.
Lucid Diagnostics Inc. (Nasdaq: LUCD) ha riportato un trimestre da record per il volume dei test EsoGuard® di DNA esofageo. Nel Q2 2024, l'azienda ha effettuato 3.174 test, segnando un 31% di incremento rispetto al Q1. Questa crescita è attribuita a una maggiore consapevolezza e domanda per il test di precancerosi esofagea EsoGuard in diversi contesti sanitari.
Il CEO Lishan Aklog ha sottolineato l'impegno dell'azienda nell'aumentare l'accesso ai test EsoGuard. Lucid prevede di rilasciare i risultati completi del Q2 2024 a metà agosto. Inoltre, l'azienda ha tenuto un incontro produttivo con il Programma di Diagnostica Molecolare (MolDX) del Contraente Amministrativo Medicare di CMS Palmetto GBA, che ha coinvolto importanti dirigenti ed esperti medici in gastroenterologia.
Lucid Diagnostics Inc. (Nasdaq: LUCD) informó de un trimestre récord en el volumen de pruebas del test de ADN esofágico EsoGuard®. En el Q2 2024, la compañía realizó 3.174 pruebas, marcando un aumento del 31% respecto al Q1. Este crecimiento se atribuye a una mayor conciencia y demanda de pruebas de precáncer esofágico EsoGuard en diversos entornos de atención médica.
El CEO Lishan Aklog enfatizó el enfoque de la empresa en aumentar el acceso a las pruebas de EsoGuard. Lucid espera publicar los resultados completos del Q2 2024 a mediados de agosto. Además, la compañía mantuvo una reunión productiva con el Programa de Diagnósticos Moleculares (MolDX) del Contratista Administrativo de Medicare de CMS, Palmetto GBA, que incluyó a altos ejecutivos y expertos médicos en gastroenterología.
루시드 진단 주식회사(Lucid Diagnostics Inc., Nasdaq: LUCD)가 EsoGuard® 식도 DNA 검사량에서 기록적인 분기를 보고했습니다. 2024년 2분기 동안, 회사는 3,174개의 검사를 수행하여 1분기 대비 31% 증가를 기록했습니다. 이러한 성장은 다양한 의료 환경에서 EsoGuard 식도 전암 검사의 인식과 수요가 확산된 데 기인합니다.
CEO 리샨 악클로그(Lishan Aklog)는 EsoGuard 검사 접근성을 높이는 데 회사의 초점을 두고 있다고 강조했습니다. 루시드는 2024년 2분기 전체 결과를 8월 중순에 발표할 예정입니다. 또한, 회사는 CMS 메디케어 관리자 계약업체인 팔메토 GBA(Palmetto GBA)의 분자 진단 프로그램(MolDX)과의 생산적인 회의를 개최했으며, 이 회의에는 주요 임직원과 위장병학 분야의 의료 전문가가 참여했습니다.
Lucid Diagnostics Inc. (Nasdaq: LUCD) a annoncé un trimestre record pour le volume de son test ADN œsophagien EsoGuard®. Au deuxième trimestre 2024, l'entreprise a réalisé 3 174 tests, soit une augmentation de 31% par rapport au premier trimestre. Cette croissance est attribuée à une sensibilisation accrue et à la demande de tests de précancer œsophagien EsoGuard dans divers environnements de soins de santé.
Le PDG Lishan Aklog a souligné l'engagement de la société à accroître l'accès aux tests EsoGuard. Lucid prévoit de publier les résultats complets du deuxième trimestre 2024 à la mi-août. De plus, l'entreprise a tenu une réunion productive avec le programme de diagnostiques moléculaires (MolDX) du contractant administratif Medicare de CMS, Palmetto GBA, qui a impliqué des dirigeants clés et des experts médicaux en gastroentérologie.
Lucid Diagnostics Inc. (Nasdaq: LUCD) berichtete über ein rekordverdächtiges Quartal für das Volumen des EsoGuard® DNA-Tests für die Speiseröhre. Im Q2 2024 führte das Unternehmen 3.174 Tests durch, was einem Zuwachs von 31% im Vergleich zum Q1 entspricht. Dieses Wachstum wird auf ein steigendes Bewusstsein und die Nachfrage nach EsoGuard-Tests auf Speiseröhrenvorstufen in verschiedenen Gesundheitsbereichen zurückgeführt.
CEO Lishan Aklog betonte den Fokus des Unternehmens auf die Erhöhung des Zugangs zu EsoGuard-Tests. Lucid plant, die vollständigen Ergebnisse des Q2 2024 Mitte August zu veröffentlichen. Außerdem hielt das Unternehmen ein produktives Treffen mit dem Programm für molekulare Diagnostik (MolDX) des CMS Medicare-Administrationskontraktors Palmetto GBA ab, an dem wichtige Führungskräfte und medizinische Experten für Gastroenterologie teilnahmen.
- Record-breaking quarterly EsoGuard® test volume of 3,174 tests
- 31% sequential increase in test volume from Q1 to Q2 2024
- Productive meeting held with CMS Medicare Administrative Contractor (MAC) Palmetto GBA's MolDX program
- None.
Insights
The 31% increase in EsoGuard® test volume is a significant milestone for Lucid Diagnostics. This indicates strong growth momentum and effective execution of their commercial strategy. Sequential growth of this magnitude is particularly noteworthy in the healthcare sector, where adoption rates for new diagnostic tests can be sluggish due to regulatory and clinical acceptance hurdles.
From a financial perspective, this increase in test volume could translate into higher revenue and improved margins, given the fixed costs associated with medical diagnostics. It also suggests increased market penetration and acceptance among both healthcare providers and patients. Investors should keep an eye on the detailed financial results due in mid-August to gauge the full financial impact.
Lucid’s record number of EsoGuard® tests highlights the growing clinical acceptance of non-invasive esophageal cancer testing methods. As a medical research analyst, I see this as a validation of the clinical utility and accuracy of EsoGuard®. The involvement of respected figures like Dr. Sachin Wani in their strategy further strengthens their credibility.
Increased awareness and adoption at clinical settings, integrated health systems and public testing events like #CheckYourFoodTube indicate that Lucid is successfully broadening its outreach. This could lead to higher long-term demand as more physicians and patients become familiar with the test's benefits and reliability. Additionally, the productive meeting with MolDX could pave the way for broader insurance coverage, a important factor for widespread clinical adoption.
From a market positioning perspective, the notable increase in EsoGuard® test volumes signals that Lucid is effectively differentiating itself in the competitive landscape of cancer diagnostics. The emphasis on expanding access through initiatives like #CheckYourFoodTube campaigns suggests a strategic focus on increasing market penetration and consumer awareness.
Such growth metrics, coupled with direct engagement with Medicare stakeholders, indicate proactive steps towards securing reimbursement, which is a critical driver for market adoption. Investors should anticipate a potential uptick in market share and competitive positioning, making Lucid a more attractive player in the diagnostics market.
Quarterly EsoGuard® test volume increased 31 percent sequentially
"Our commercial and clinical teams remain relentlessly focused on expanding awareness of, demand for and access to EsoGuard esophageal precancer testing at physician offices, integrated health systems and #CheckYourFoodTube testing events," said Lishan Aklog, M.D., Lucid's Chairman and Chief Executive Officer.
Lucid expects to report full results for the three months ended June 30, 2024 in mid-August 2024.
Lucid also reported that it held a productive meeting with CMS Medicare Administrative Contractor (MAC) Palmetto GBA's Molecular Diagnostics Program (MolDX). Lucid executives joined MolDX leadership in-person. Also participating were Lucid Vice-Chairman, Stanley Lapidus, and Sachin Wani, M.D., Professor of Gastroenterology at the University of Colorado School of Medicine and a co-author of both the American College of Gastroenterology (ACG) guideline for Diagnosis and Management of Barrett's Esophagus, and the American Gastroenterological Association (AGA) Clinical Practice Update.
About Lucid Diagnostics
Lucid Diagnostics Inc. is a commercial-stage, cancer prevention medical diagnostics company, and subsidiary of PAVmed Inc. (Nasdaq: PAVM). Lucid is focused on the millions of patients with gastroesophageal reflux disease (GERD), also known as chronic heartburn, who are at risk of developing esophageal precancer and cancer. Lucid's EsoGuard® Esophageal DNA Test, performed on samples collected in a brief, noninvasive office procedure with its EsoCheck® Esophageal Cell Collection Device - the first and only commercially available tools designed with the goal of preventing cancer and cancer deaths through widespread, early detection of esophageal precancer in at-risk patients.
For more information, please visit www.luciddx.com and for more information about its parent company PAVmed, please visit www.pavmed.com.
Forward-Looking Statements
This press release includes forward-looking statements that involve risk and uncertainties. Forward-looking statements are any statements that are not historical facts. Such forward-looking statements, which are based upon the current beliefs and expectations of Lucid Diagnostics' management, are subject to risks and uncertainties, which could cause actual results to differ from the forward-looking statements. Risks and uncertainties that may cause such differences include, among other things, volatility in the price of Lucid Diagnostics' common stock; general economic and market conditions; the uncertainties inherent in research and development, including the cost and time required to advance Lucid Diagnostics' products to regulatory submission; whether regulatory authorities will be satisfied with the design of and results from Lucid Diagnostics' clinical and preclinical studies; whether and when Lucid Diagnostics' products are cleared by regulatory authorities; market acceptance of Lucid Diagnostics' products once cleared and commercialized; Lucid Diagnostics' ability to raise additional funding as needed; and other competitive developments. These factors are difficult or impossible to predict accurately and many of them are beyond Lucid Diagnostics' control. In addition, new risks and uncertainties may arise from time to time and are difficult to predict. For a further list and description of these and other important risks and uncertainties that may affect Lucid Diagnostics' future operations, see Part I, Item 1A, "Risk Factors," in Lucid Diagnostics' most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission, as the same may be updated in Part II, Item 1A, "Risk Factors" in any Quarterly Report on Form 10-Q filed by Lucid Diagnostics after its most recent Annual Report. Lucid Diagnostics disclaims any intention or obligation to publicly update or revise any forward-looking statement to reflect any change in its expectations or in events, conditions, or circumstances on which those expectations may be based, or that may affect the likelihood that actual results will differ from those contained in the forward-looking statements.
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SOURCE Lucid Diagnostics
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