Prnewswire·2025-05-14 12:01Core Viewpoint - Lucid Diagnostics Inc. has secured capital to extend its operational runway significantly, positioning the company to capitalize on upcoming reimbursement milestones and accelerate commercialization efforts for its EsoGuard product [4][6]. Business Highlights - The company is expanding cash-pay and contracted programs targeting concierge medicine practices and self-insured employers, while also gaining traction with regional commercial insurers for EsoGuard coverage [4]. - A partnership with a major health system has been established to launch a comprehensive EsoGuard esophageal precancer testing program, enhancing access for at-risk patients [6]. - The company has launched the "Embrace the Future" campaign to promote its EsoCheck® Cell Collection Device, which features innovative technology compared to traditional methods [6]. - A National Cancer Institute-sponsored study has shown that EsoGuard effectively detects esophageal precancer in at-risk patients without GERD, potentially increasing market opportunity by up to 70% [6]. Financial Results - For the three months ended March 31, 2025, Lucid processed 3,034 EsoGuard tests and recognized $0.8 million in revenue from EsoGuard [6]. - The company reported operating expenses of approximately $13.3 million, including $1.0 million in stock-based compensation, leading to a GAAP net loss of approximately $36.0 million or $(0.52) per share [6][9]. - The non-GAAP adjusted loss for the same period was approximately $11.2 million or $(0.16) per share [7][11]. - As of March 31, 2025, Lucid had cash and cash equivalents of $25.2 million, an increase from $22.4 million as of December 31, 2024, and completed a public offering for net proceeds of $16.1 million [10].