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Lucid Diagnostics Inc. (Nasdaq: LUCD) is a commercial-stage medical diagnostics company dedicated to cancer prevention, particularly focusing on patients with gastroesophageal reflux disease (GERD). GERD, commonly known as chronic heartburn or acid reflux, places millions at risk of developing esophageal precancer and the highly lethal esophageal adenocarcinoma. Lucid's groundbreaking products, EsoCheck and EsoGuard, are at the forefront of early detection and prevention.
EsoGuard is a bisulfite-converted Next Generation Sequencing (NGS) DNA assay performed on surface esophageal cells collected with the EsoCheck device. This test quantifies methylation at 31 sites on two genes, Vimentin (VIM) and Cyclin A1 (CCNA1), detecting esophageal precancer and cancer with over 90% sensitivity and specificity. EsoCheck is an FDA 510(k) and CE Mark cleared noninvasive swallowable balloon capsule catheter device. This device can sample surface esophageal cells in less than five minutes, providing an effective, non-invasive alternative to costly and invasive endoscopy.
Lucid has shown substantial progress, including solid revenue growth on stable test volumes. Their revenue cycle management processes are improving, and the CYFT program targeting specific groups like firefighters is thriving. Their direct contracting initiative is also accelerating, with near-term prospects for delivering contracts, testing, and revenue.
Recently, Lucid announced a partnership with the Esophageal Cancer Action Network (ECAN) to highlight Esophageal Cancer Awareness Month. Public service videos run on Nasdaq's billboard in Times Square, spreading awareness about the link between heartburn and esophageal cancer.
Lucid's peer-reviewed publication of positive data from a National Cancer Institute (NCI)-sponsored study confirmed the high sensitivity and specificity of the EsoGuard test. This significant milestone supports their goal of widespread screening and early detection, moving towards Medicare coverage.
Lucid continues to advance its operations and strategies, recently closing a $30 million preferred stock financing to support their growth. They are on track to achieve key milestones, including expanded private and public coverage and direct contracting. Lucid's clinical evidence base for EsoGuard is robust, further enhancing their line of sight to Medicare coverage.
For more information, visit www.luciddx.com and their parent company PAVmed at www.pavmed.com.
Lucid Diagnostics Inc. (Nasdaq: LUCD) will have Dr. Lishan Aklog, Chairman and CEO, speak at the BTIG MedTech Digital Health, Life Science, and Diagnostics Tools Conference on February 17, 2022, at 8:00 AM EST. Lucid, a cancer prevention diagnostics company, is focused on patients with gastroesophageal disease (GERD) who are at risk for esophageal precancer. Their EsoGuard® Esophageal DNA Test is the first widely available screening tool for early detection of esophageal precancer. Lucid aims to build Lucid Test Centers for the EsoCheck procedure.
PAVmed Inc. (Nasdaq: PAVM, PAVMZ) and its subsidiary Lucid Diagnostics Inc. (Nasdaq: LUCD) have established a full-time investor relations team. Adrian K. Miller has been appointed Vice President, focusing on institutional investors, while D.A. Wallace takes on the role of Director for retail relations. This move aims to enhance communication with shareholders during a rapid growth phase. Both Miller and Wallace bring extensive experience in investor relations, indicating a strategic effort to improve transparency and investor engagement.
Lucid Diagnostics Inc. (Nasdaq: LUCD) will have Chairman and CEO Lishan Aklog speak at the 24th Annual Needham Virtual Growth Conference on January 11, 2022, at 11:30 AM EST. The discussion will focus on Lucid's cancer prevention diagnostic solutions, particularly the EsoGuard® test, designed for GERD patients at risk for esophageal cancer. This test, along with the EsoCheck® device, is crucial for early detection and has received FDA Breakthrough Device designation. The event can be accessed via Lucid's Investor Relations website.
Lucid Diagnostics has launched the EsoGuard Telemedicine Program in collaboration with UpScriptHealth, allowing chronic heartburn patients in Phoenix, Denver, Salt Lake City, and Las Vegas to access video consultations for Esophageal precancer screening. Through this program, patients can receive referrals for EsoGuard testing, aimed at early detection of esophageal cancer. The campaign will begin in Phoenix, leveraging various media channels to educate patients about the risks of esophageal cancer and the availability of EsoGuard testing.
Lucid Diagnostics Inc. (Nasdaq: LUCD), a cancer prevention medical diagnostics company, announced that CFO Dennis McGrath will present a corporate update at the Canaccord Genuity Virtual MedTech, Diagnostics and Digital Health & Services Forum on November 18, 2021, at 4:00 PM EST. Lucid focuses on gastroesophageal disease patients at risk of esophageal cancer, offering the EsoGuard Esophageal DNA Test alongside the EsoCheck device. Both are aimed at early cancer detection, with EsoGuard currently marketed as a Laboratory Developed Test in the U.S.
PAVmed Inc. and its subsidiary Lucid Diagnostics have provided a joint business update, announcing preliminary financial results for the six and nine months ended September 30, 2021. Both companies have recognized revenue for the first time, with PAVmed holding a 76% stake in Lucid post-IPO. Lucid raised $70 million through an IPO, and both companies collectively hold over $90 million in cash. Operating expenses for PAVmed were approximately $13.7 million, while Lucid reported $6.6 million in operating expenses. The report highlights expansions in workforce and infrastructure.
Lucid Diagnostics Inc. (Nasdaq: LUCD) has launched Lucid Test Centers in Denver, Salt Lake City, and Las Vegas, providing an office-based test for early detection of esophageal precancer in patients with GERD. This test uses EsoCheck for cell collection and EsoGuard for DNA analysis, aiming to prevent esophageal cancer. The new centers are a key part of Lucid's growth strategy, expanding from a pilot program in Phoenix. Each center is expected to operate with modest costs and contribute to increasing referrals from primary care physicians.
PAVmed Inc. and its subsidiary Lucid Diagnostics Inc. are hosting a joint business update conference call on November 16, 2021, at 4:30 PM EDT. CEO Lishan Aklog and CFO Dennis McGrath will discuss near-term milestones, growth strategies, and third quarter financial results. Lucid specializes in cancer prevention diagnostics and offers the EsoGuard Esophageal DNA Test and EsoCheck device for early detection of esophageal precancer and cancer. These innovations represent significant advancements in cancer screening for at-risk patients.
PAVmed Inc. (PAVM, PAVMZ) announced the appointment of Sunny Webb as Chief Technology Officer for its subsidiary Veris Health. Ms. Webb brings nearly two decades of experience in technology leadership, having worked with major companies like Apple and Facebook. She aims to enhance Veris' capabilities in creating integrated digital healthcare solutions for cancer patients. The company is targeting FDA clearance for its innovative implantable vascular access port by H2-2022, leveraging partnerships with Microsoft and Loka Inc. for advanced software development.
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