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 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 ...

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 ...

Financial Data and Key Metrics Changes - Lucid Diagnostics reported a net loss attributable to common stockholders of $14.6 million or a loss of $0.41 per share for Q2 2022, compared to a loss of $0.44 per share in the same period last year [84] - Cash reserves decreased to $32.7 million as of June 30, down from $53.7 million at the end of the previous year [86] - Total operating expenses for Q2 2022 were $10.1 million, compared to $3.4 million for the same period in the prior year [84] Business Line Data and Key Metrics Changes - EsoGuard testing volume increased significantly, with 850 tests processed in Q2 2022, representing a 60% sequential increase from Q1 2022 and over 300% increase year-over-year [32] - The proportion of tests performed at Lucid test centers now represents approximately two-thirds of the overall testing volume [33] Market Data and Key Metrics Changes - The estimated total addressable market opportunity for EsoGuard has expanded from approximately $25 billion to around $60 billion due to updated guidelines that now include women in the screening population [26] - The updated guidelines from major gastroenterology societies have broadened the at-risk population for esophageal pre-cancer screening, significantly increasing the potential market size [24][26] Company Strategy and Development Direction - The company is focused on expanding its sales and marketing capabilities, including the establishment of new Lucid test centers and a growing sales team targeting primary care physicians [9][40] - Lucid Diagnostics aims to secure private and Medicare reimbursement, investing in clinical utility data collection to support these efforts [72] - The company is transitioning to a more independent operational model with its own CLIA-certified laboratory, allowing for direct claims submission and revenue collection [51][53] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the challenging market conditions and emphasized the importance of maximizing runway and strengthening the balance sheet while executing strategic objectives [14] - The leadership team is optimistic about the growth potential of EsoGuard and the impact of new guidelines on market acceptance [19][24] Other Important Information - Lucid has launched a company-wide initiative to streamline operations and reallocate resources strategically [14] - The company has entered into participating provider agreements with several preferred provider organizations, covering millions of lives [54] Q&A Session Summary Question: Has any women been screened at this point given the updated guidelines? - Management confirmed that women have undergone testing and plans to clarify this distinction in future communications [92][94] Question: What feedback can be shared on advertising initiatives and market development? - Management indicated that while they have received good responses from telemedicine initiatives, they are cautious about investing heavily in direct-to-consumer efforts until reimbursement becomes more predictable [95][97] Question: Why start with smaller PPO agreements? - Management explained that these secondary PPOs are not small and provide a strategic entry point while building clinical utility data for larger health plans [102][103] Question: Can the sales force target patients in these PPOs? - Management confirmed that they are strategically selecting test center locations to overlap with PPO coverage areas [110][111] Question: What is the rationale behind the satellite test centers? - Management stated that the satellite test centers arose from creative thinking to facilitate expansion in specialty practices and institutions, not due to issues with existing test centers [112][116]

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, 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 Othe ...

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, 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 Oth ...

Lucid Diagnostics Inc. (NASDAQ:LUCD) Q1 2022 Earnings Conference Call May 11, 2022 4:30 PM ET Company Participants Adrian Miller – Vice President-Investor Relations Lishan Aklog – Chairman and Chief Executive Officer Dennis McGrath – Chief Financial Officer Conference Call Participants Ross Osborn – Cantor Fitzgerald Ed Woo – Ascendiant Capital Kyle Mikson – Canaccord Operator Greetings, welcome to the Lucid Diagnostics Business Update Conference Call. At this time, all participants are in a listen-only mod ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 10-K (Mark One) [X] ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2021 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 Other ...

Call Start: 16:30 January 1, 0000 5:28 PM ET Lucid Diagnostics Inc. (NASDAQ:LUCD) Q4 2021 Earnings Conference Call March 28, 2022 16:30 ET CompanyParticipants Adrian Miller - Vice President of Investor Relations Dennis McGrath - Chief Financial Officer Lishan Aklog - Chairman & Chief Executive Officer Conference Call Participants Kyle Mikson - Canaccord Genuity Michael Matson - Needham & Company Ross Osborn - Cantor Fitzgerald Edward Woo - Ascendiant Capital Operator Greetings. Welcome to the Lucid Diagnost ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION For the transition period from______ to______ Commission File Number: 001-40901 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, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 LUCID DIAGNOSTICS INC. (Exact Name of Registrant as Specified in Its Charter) Delaware 82-5488042 (State or ...