Lucid Diagnostics Provides Business Update and Reports Fourth Quarter and Full Year 2024 Financial Results

Core Insights - Lucid Diagnostics Inc. reported a record 4,042 EsoGuard tests processed in Q4 2024, marking a 45% sequential increase and an 84% annual increase [1] - The company recognized EsoGuard revenue of $1.2 million in Q4 2024 [1] - Significant advancements in EsoGuard's commercial coverage and sales channels are expected to drive revenue growth in the second half of 2025 [4] Business Highlights - The company secured over 20 new cash-pay concierge medicine contracts through a new sales channel [1] - Lucid Diagnostics achieved its first agreement to pay for EsoGuard under state biomarker legislation [1] - The CEO emphasized the potential for broader payor coverage for EsoGuard, positioning the company to capitalize on a large clinical and market opportunity [4] Financial Results - For Q4 2024, EsoGuard related revenues were$1.2 million, with operating expenses around $13.6 million, including$1.2 million in stock-based compensation [7] - The GAAP net loss attributable to common stockholders was approximately $11.5 million, or$(0.20) per common share [7] - As of December 31, 2024, the company had cash and cash equivalents of $22.4 million, with pro forma cash estimated at$36.9 million at the start of 2025 [7] EsoGuard and EsoCheck Overview - EsoGuard is a DNA methylation assay designed to detect esophageal precancer in patients with gastroesophageal reflux disease (GERD) [12][14] - The test has shown over 90% sensitivity and specificity in detecting esophageal precancer and cancer [15] - EsoCheck is a noninvasive device for collecting esophageal cell samples, facilitating the EsoGuard testing process [16]