Lucid Diagnostics(LUCD)

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Lucid Diagnostics(LUCD) - 2023 Q3 - Earnings Call Transcript
2023-11-15 03:54
Lucid Diagnostics Inc. (NASDAQ:LUCD) Q3 2023 Results Conference Call November 14, 2023 8:30 AM ET Company Participants Michael Parks - VP, IR Dr. Lishan Aklog - Chairman, CEO Dennis McGrath - EVP, CFO Conference Call Participants Kyle Mikson - Canaccord Ross Osborn - Cantor Fitzgerald Mike Matson - Needham & Co Ed Woo - Ascendiant Capital Operator Good morning, and welcome to the Lucid Diagnostics Third Quarter 2023 Business Update Conference Call. All participants will be in a listen-only mode. [Operator I ...
Lucid Diagnostics(LUCD) - 2023 Q3 - Quarterly Report
2023-11-13 22:15
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 10-Q (Mark One) OR ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____ to _____ Commission File Number: 001-40901 LUCID DIAGNOSTICS INC. (Exact Name of Registrant as Specified in Its Charter) Delaware 82-5488042 (State or ...
Lucid Diagnostics(LUCD) - 2023 Q2 - Earnings Call Transcript
2023-08-15 16:38
Lucid Diagnostics Inc. (NASDAQ:LUCD) Q2 2023 Results Conference Call August 15, 2023 8:30 AM ET Company Participants Michael Parks - VP, IR Lishan Aklog - Chairman, CEO Dennis McGrath - EVP, CFO Conference Call Participants Ed Woo - Ascendiant Capital Kyle Mikson - Canaccord Mark Massaro - BTIG Mike Matson - Needham & Co. Operator Good day, and welcome to the Lucid Diagnostics Second Quarter 2023 Business Update Conference Call. [Operator Instructions] Please note, this event is being recorded. I would now ...
Lucid Diagnostics(LUCD) - 2023 Q2 - Quarterly Report
2023-08-14 20:45
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____ to _____ Commission File Number: 001-40901 LUCID DIAGNOSTICS INC. (Exact Name of Registrant as Specified in Its Charter) Delaware 82-5488042 (State or Othe ...
Lucid Diagnostics(LUCD) - 2023 Q1 - Quarterly Report
2023-05-15 20:25
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____ to _____ Commission File Number: 001-40901 LUCID DIAGNOSTICS INC. (Exact Name of Registrant as Specified in Its Charter) Delaware 82-5488042 (State or Oth ...
Lucid Diagnostics(LUCD) - 2022 Q4 - Earnings Call Transcript
2023-03-14 18:18
Lucid Diagnostics Inc. (NASDAQ:LUCD) Q4 2022 Earnings Conference Call March 14, 2023 8:30 AM ET Company Participants Michael Parks - Vice President, Investor Relations Dr. Lishan Aklog - Chairman and CEO Dennis McGrath - Chief Financial Officer Conference Call Participants Kyle Mikson - Canaccord Genuity Ross Osborn - Cantor Fitzgerald Mike Matson - Needham & Co. Mark Massaro - BTIG Edward Woo - Ascendiant Capital Operator Welcome to the Lucid Diagnostics Business Update and Fourth Quarter 2022 Financial Re ...
Lucid Diagnostics(LUCD) - 2022 Q4 - Annual Report
2023-03-13 22:36
Revenue and Financial Performance - Lucid Diagnostics Inc. reported a revenue of $13.625 million from the sale of 13,625 shares of Series A preferred stock, with each share having a stated value of $1,000 and a conversion price of $1.394[350]. - For the year ended December 31, 2022, revenue was $0.4 million, a decrease of 20% from $0.5 million in the prior year, primarily due to the termination of the EsoGuard Commercialization Agreement[368]. - Cost of revenue increased significantly to approximately $3.6 million in 2022 from $0.6 million in the prior year, reflecting a $3.0 million increase[369]. - Sales and marketing expenses rose to approximately $16.1 million in 2022, up from $5.3 million in the previous year, marking a net increase of $10.8 million[369]. - General and administrative expenses increased to approximately $23.7 million in 2022, compared to $12.8 million in the prior year, a net increase of $10.9 million[369]. - Research and development expenses were approximately $11.5 million in 2022, an increase of $2.2 million from $9.3 million in the prior year[371]. Clinical Trials and Product Development - Lucid is conducting multiple clinical trials, including a study with 500 patients and a virtual-patient randomized controlled trial with 100-200 participants, with results expected in 2023[343]. - EsoGuard achieved over 90% sensitivity and specificity in detecting esophageal precancer in a multicenter study involving 408 patients[340]. - The EsoCheck device, a noninvasive swallowable capsule, allows for surface esophageal cell sampling in under five minutes, enhancing patient experience[341]. - The company plans to continue incurring research and development expenses for existing products and new innovations, focusing on obtaining FDA approvals and facilitating insurer reimbursement[364][366]. - The company is expanding commercialization of EsoGuard across multiple sales channels and establishing Lucid Diagnostics Test Centers[374]. Agreements and Financial Instruments - The termination of the MSA-RDx agreement resulted in a net savings of $2.725 million for the company, reducing future earnout payments and management fees[347]. - The March 2023 Senior Secured Convertible Note has a face value of $11.1 million and a 7.875% annual interest rate, with a contractual conversion price of $5.00 per share[351][352]. - The company entered into a Securities Purchase Agreement to sell a Senior Secured Convertible Note with a face value of $11.1 million, with a 7.875% annual interest rate[379][380]. - As of March 7, 2023, the company entered into subscription agreements for the sale of 13,625 shares of Series A preferred stock, generating gross proceeds of $13.625 million[378]. Stock-Based Compensation and Accounting Policies - The Company recognizes research and development expenses as incurred, including salaries, stock-based compensation, and costs related to contract research service providers[392]. - Stock-based awards are made under the Lucid Diagnostics Inc. 2018 Equity Plan and the PAVmed Inc. 2014 Equity Plan, with fair value recognized on a straight-line basis over the requisite service period[393]. - The estimated fair value of stock options is calculated using the Black-Scholes model, with historical stock price volatility and risk-free interest rates factored in[395]. - The Company adopted ASU 2020-06 effective January 1, 2021, which simplified accounting for certain financial instruments, but it did not affect the consolidated financial statements[398]. - The Company adopted FASB ASC Topic 842, requiring recognition of right-of-use assets and lease liabilities for leases over 12 months, effective December 31, 2021[400]. Other Financial Obligations and Risks - As of December 31, 2022, the Company had a payment obligation liability of approximately $5.0 million to PAVmed Inc. for employee-related costs and operating expenses[389]. - There are no off-balance sheet arrangements reported by the Company[401]. - The Company has not disclosed any quantitative and qualitative market risk information as it is not applicable[402].
Lucid Diagnostics(LUCD) - 2022 Q3 - Earnings Call Transcript
2022-11-15 02:50
Lucid Diagnostics Inc. (NASDAQ:LUCD) Q3 2022 Earnings Conference Call November 14, 2022 4:30 PM ET Company Participants Adrian Miller - Vice President-Investor Relations Lishan Aklog - Chairman & Chief Executive Officer Dennis McGrath - Chief Financial Officer Conference Call Participants Mike Matson - Needham & Company Ross Osborn - Cantor Fitzgerald Ed Woo - Ascendiant Capital Greetings, and welcome to Lucid Diagnostics Third Quarterly Update Conference Call and Webcast. At this time, all participants are ...
Lucid Diagnostics(LUCD) - 2022 Q3 - Quarterly Report
2022-11-14 21:08
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____ to _____ Commission File Number: 001-40901 LUCID DIAGNOSTICS INC. (Exact Name of Registrant as Specified in Its Charter) Delaware 82-5488042 (State or ...
Lucid Diagnostics(LUCD) - 2022 Q2 - Earnings Call Transcript
2022-08-16 01:57
Lucid Diagnostics Inc. (NASDAQ:LUCD) Q2 2022 Earnings Conference Call August 15, 2022 4:30 PM ET Company Participants Adrian Miller - Vice President-Investor Relations Lishan Aklog - Chairman & Chief Executive Officer Dennis McGrath - Chief Financial Officer Conference Call Participants Ross Osborn - Cantor Fitzgerald Mike Matson - Needham & Company Ed Woo - Ascendiant Capital Mark Massaro - BTIG Operator Greetings, and welcome to Lucid Diagnostics Second Quarter 2020 Business Update Conference Call. At thi ...