Latest news with #DennisMcGrath
Associated Press
27-05-2025
- Business
- Associated Press
Lucid Diagnostics to Join Russell 2000® and Russell 3000® Indexes
NEW YORK, May 27, 2025 /PRNewswire/ -- Lucid Diagnostics Inc. (Nasdaq: LUCD) ('Lucid' or the 'Company'), a commercial-stage, cancer prevention medical diagnostics company, and subsidiary of PAVmed Inc. (Nasdaq: PAVM), today announced that the Company will join the small-cap Russell 2000® Index and the broad-market Russell 3000® Index, effective after the close of U.S. equity markets on June 27, 2025, as part of their 2025 annual reconstitution, according to a preliminary list of additions posted by FTSE Russell on May 23, 2025. 'We are pleased that Lucid is joining these important market indices, which serve as leading benchmarks for institutional investors and as the basis for numerous index-linked financial products,' said Dennis McGrath, Lucid's Chief Financial Officer. 'This important milestone is a testament to the significant progress Lucid has made in enhancing shareholder value over the past year. We are confident that it will increase our visibility and access to a broader range of institutional investors.' The broad-market Russell 3000 Index includes the largest 3,000 U.S. public companies by market capitalization. The Russell 2000 Index is a subset of the broader Russell 3000 Index limited to small-cap companies. The indexes are reconstituted annually by re-ranking companies based on total market capitalization as of the reconstitution rank date, which was April 30, 2025, this year. Index membership remains in place for one year and results in automatic inclusion in the relevant growth and value style indexes. Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. According to FTSE Russell, approximately $10.6 trillion in assets are benchmarked against the Russell U.S. Indexes. For more information on the Russell 2000® and Russell 3000® Indexes and the Russell indexes reconstitution, visit the 'Russell Reconstitution' section on the FTSE Russell website. About Lucid Diagnostics Lucid Diagnostics Inc. is a commercial-stage, cancer prevention medical diagnostics company and subsidiary of PAVmed Inc. (Nasdaq: PAVM). Lucid is focused on the millions of patients with gastroesophageal reflux disease (GERD), also known as chronic heartburn, who are at risk of developing esophageal precancer and cancer. Lucid's EsoGuard® Esophageal DNA Test, performed on samples collected in a brief, noninvasive office procedure with its EsoCheck® Esophageal Cell Collection Device, represent the first and only commercially available tools designed with the goal of preventing cancer and cancer deaths through widespread, early detection of esophageal precancer in at-risk patients. For more information about Lucid, please visit and for more information about its parent company PAVmed, please visit About FTSE Russell FTSE Russell is a leading global provider of benchmarking, analytics, and data solutions for investors, giving them a precise view of the market relevant to their investment process. FTSE Russell index expertise and products are used extensively by institutional and retail investors globally. Forward-Looking Statements This press release includes forward-looking statements that involve risk and uncertainties. Forward-looking statements are any statements that are not historical facts. Such forward-looking statements, which are based upon the current beliefs and expectations of Lucid's management, are subject to risks and uncertainties, which could cause actual results to differ from the forward-looking statements. Risks and uncertainties that may cause such differences include, among other things, volatility in the price of Lucid's common stock; general economic and market conditions; the uncertainties inherent in research and development, including the cost and time required to advance Lucid's products to regulatory submission; whether regulatory authorities will be satisfied with the design of and results from Lucid's clinical and preclinical studies; whether and when Lucid's products are cleared by regulatory authorities; market acceptance of Lucid's products once cleared and commercialized; Lucid's ability to raise additional funding as needed; and other competitive developments. In addition, Lucid continues to monitor the COVID-19 pandemic and the pandemic's impact on Lucid's businesses. These factors are difficult or impossible to predict accurately and many of them are beyond Lucid's control. In addition, new risks and uncertainties may arise from time to time and are difficult to predict. For a further list and description of these and other important risks and uncertainties that may affect Lucid's future operations, see Part I, Item 1A, 'Risk Factors,' in Lucid's most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission, as the same may be updated in Part II, Item 1A, 'Risk Factors' in any Quarterly Report on Form 10-Q filed by Lucid Diagnostics after its most recent Annual Report. Lucid disclaims any intention or obligation to publicly update or revise any forward-looking statement to reflect any change in its expectations or in events, conditions, or circumstances on which those expectations may be based, or that may affect the likelihood that actual results will differ from those contained in the forward-looking statements. View original content to download multimedia: SOURCE Lucid Diagnostics
Yahoo
27-05-2025
- Business
- Yahoo
Lucid Diagnostics to Join Russell 2000® and Russell 3000® Indexes
NEW YORK, May 27, 2025 /PRNewswire/ -- Lucid Diagnostics Inc. (Nasdaq: LUCD) ("Lucid" or the "Company"), a commercial-stage, cancer prevention medical diagnostics company, and subsidiary of PAVmed Inc. (Nasdaq: PAVM), today announced that the Company will join the small-cap Russell 2000® Index and the broad-market Russell 3000® Index, effective after the close of U.S. equity markets on June 27, 2025, as part of their 2025 annual reconstitution, according to a preliminary list of additions posted by FTSE Russell on May 23, 2025. "We are pleased that Lucid is joining these important market indices, which serve as leading benchmarks for institutional investors and as the basis for numerous index-linked financial products," said Dennis McGrath, Lucid's Chief Financial Officer. "This important milestone is a testament to the significant progress Lucid has made in enhancing shareholder value over the past year. We are confident that it will increase our visibility and access to a broader range of institutional investors." The broad-market Russell 3000 Index includes the largest 3,000 U.S. public companies by market capitalization. The Russell 2000 Index is a subset of the broader Russell 3000 Index limited to small-cap companies. The indexes are reconstituted annually by re-ranking companies based on total market capitalization as of the reconstitution rank date, which was April 30, 2025, this year. Index membership remains in place for one year and results in automatic inclusion in the relevant growth and value style indexes. Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. According to FTSE Russell, approximately $10.6 trillion in assets are benchmarked against the Russell U.S. Indexes. For more information on the Russell 2000® and Russell 3000® Indexes and the Russell indexes reconstitution, visit the "Russell Reconstitution" section on the FTSE Russell website. About Lucid DiagnosticsLucid Diagnostics Inc. is a commercial-stage, cancer prevention medical diagnostics company and subsidiary of PAVmed Inc. (Nasdaq: PAVM). Lucid is focused on the millions of patients with gastroesophageal reflux disease (GERD), also known as chronic heartburn, who are at risk of developing esophageal precancer and cancer. Lucid's EsoGuard® Esophageal DNA Test, performed on samples collected in a brief, noninvasive office procedure with its EsoCheck® Esophageal Cell Collection Device, represent the first and only commercially available tools designed with the goal of preventing cancer and cancer deaths through widespread, early detection of esophageal precancer in at-risk patients. For more information about Lucid, please visit and for more information about its parent company PAVmed, please visit About FTSE RussellFTSE Russell is a leading global provider of benchmarking, analytics, and data solutions for investors, giving them a precise view of the market relevant to their investment process. FTSE Russell index expertise and products are used extensively by institutional and retail investors globally. Forward-Looking StatementsThis press release includes forward-looking statements that involve risk and uncertainties. Forward-looking statements are any statements that are not historical facts. Such forward-looking statements, which are based upon the current beliefs and expectations of Lucid's management, are subject to risks and uncertainties, which could cause actual results to differ from the forward-looking statements. Risks and uncertainties that may cause such differences include, among other things, volatility in the price of Lucid's common stock; general economic and market conditions; the uncertainties inherent in research and development, including the cost and time required to advance Lucid's products to regulatory submission; whether regulatory authorities will be satisfied with the design of and results from Lucid's clinical and preclinical studies; whether and when Lucid's products are cleared by regulatory authorities; market acceptance of Lucid's products once cleared and commercialized; Lucid's ability to raise additional funding as needed; and other competitive developments. In addition, Lucid continues to monitor the COVID-19 pandemic and the pandemic's impact on Lucid's businesses. These factors are difficult or impossible to predict accurately and many of them are beyond Lucid's control. In addition, new risks and uncertainties may arise from time to time and are difficult to predict. For a further list and description of these and other important risks and uncertainties that may affect Lucid's future operations, see Part I, Item 1A, "Risk Factors," in Lucid's most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission, as the same may be updated in Part II, Item 1A, "Risk Factors" in any Quarterly Report on Form 10-Q filed by Lucid Diagnostics after its most recent Annual Report. Lucid disclaims any intention or obligation to publicly update or revise any forward-looking statement to reflect any change in its expectations or in events, conditions, or circumstances on which those expectations may be based, or that may affect the likelihood that actual results will differ from those contained in the forward-looking statements. View original content to download multimedia: SOURCE Lucid Diagnostics Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
15-05-2025
- Business
- Yahoo
Lucid Diagnostics Inc (LUCD) Q1 2025 Earnings Call Highlights: Strategic Growth Amid Revenue ...
Release Date: May 14, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Lucid Diagnostics Inc (NASDAQ:LUCD) performed 3,034 e-cigar tests in Q1, reaching the upper end of their target range. The company secured approximately $16.1 million in proceeds from a public offering, strengthening their balance sheet. They have doubled the number of contracts in their concierge medicine program, indicating growth in this area. Lucid Diagnostics Inc (NASDAQ:LUCD) has a successful partnership with a major health system for a comprehensive esophageal pre-cancer testing program. The company is optimistic about imminent Medicare coverage for their Eoguard test, which could significantly boost commercialization efforts. Revenue of $800,000 fell short due to external headwinds and a greater concentration of testing through healthcare events. There were delays in cash collections from UnitedHealthcare due to a national issue with their new system for molecular pathology claims. The quarterly burn rate was $11.3 million, slightly higher than the average for the preceding four quarters. The effective average selling price (ASP) declined quarter over quarter, partly due to mix and reimbursement challenges. The company faces challenges in securing reimbursement from Kaiser and other insurers, impacting revenue recognition. Warning! GuruFocus has detected 3 Warning Signs with LUCD. Q: Can you provide insights on the Q1 test volumes and expectations for Q2? A: Dr. Leshan Acog, CEO, explained that the company maintained its test volume within the target range of 2,500 to 3,000 tests per quarter, which is crucial for engaging with regional payers. The volume was not significantly impacted by weather, and the company plans to maintain this range until broader coverage is achieved, either through Medicare or commercial coverage expansion. Q: What is the status of the Palmetto GBA decision for Medicare coverage? A: Dr. Leshan Acog, CEO, stated that the decision is expected imminently. The company has had multiple engagements with the M X group, and the submission was a request for reconsideration of an existing LCD, which requires less work than a new LCD. The company is optimistic about the outcome based on these discussions. Q: How does the NCI-sponsored study impact future Medicare coverage and market opportunities? A: Dr. Leshan Acog, CEO, highlighted that the study showed e-cigar's effectiveness in patients without symptomatic GERD, with a prevalence of 8% in this population. This data supports an expanded market opportunity, and further data from an NIH-funded study will be crucial for expanding clinical indications and market reach. Q: Can you discuss the impact of concierge medicine and employer contracts on revenue and ASP? A: Dennis McGrath, CFO, noted that while the shift to concierge and employer contracts is recent, it has not yet significantly impacted Q1 revenue or ASP. The company is still in the early stages of translating contracts into patient tests, but expects this to contribute more meaningfully in future quarters. Q: What is the company's strategy regarding large testing events and their visibility for the rest of the year? A: Dr. Leshan Acog, CEO, mentioned that the pipeline for large testing events is strong, with a focus on transitioning these events to contracted revenue. The company is working on securing payments in advance for these events, particularly with fire departments and self-insured employers, to ensure revenue without relying on traditional claims processes. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
30-04-2025
- Business
- Yahoo
Lucid Diagnostics to Hold a Business Update Conference Call and Webcast on May 14, 2025
Conference Call and Webcast at 8:30 AM Eastern Time NEW YORK, April 30, 2025 /PRNewswire/ -- Lucid Diagnostics Inc. (Nasdaq: LUCD) ("Lucid" or the "Company") a commercial-stage, cancer prevention medical diagnostics company and subsidiary of PAVmed Inc. (Nasdaq: PAVM), today announced that it will host a business update conference call and webcast on Wednesday, May 14, 2025, at 8:30 AM ET. During the call, Lishan Aklog, M.D., Lucid's Chairman and Chief Executive Officer, will provide a business update, including an overview of the Company's operations and continued growth strategy. In addition, Dennis McGrath, Lucid's Chief Financial Officer, will discuss the Company's first quarter 2025 financial results. The webcast will be available at the investor relations section of the Company's website at Alternatively, to access the conference call by telephone, U.S.-based callers should dial 1-800-836-8184 and international listeners should dial 1-646-357-8785. All listeners should provide the operator with the conference call name "Lucid Diagnostics Business Update" to join. Following the conclusion of the conference call, a replay will be available for 30 days on the investor relations section of the Company's website at About Lucid DiagnosticsLucid Diagnostics Inc. is a commercial-stage, cancer prevention medical diagnostics company, and subsidiary of PAVmed Inc. (Nasdaq: PAVM). Lucid is focused on the millions of patients with gastroesophageal reflux disease (GERD), also known as chronic heartburn, who are at risk of developing esophageal precancer and cancer. Lucid's EsoGuard® Esophageal DNA Test, performed on samples collected in a brief, noninvasive office procedure with its EsoCheck® Esophageal Cell Collection Device, represent the first and only commercially available tools designed with the goal of preventing cancer and cancer deaths through widespread, early detection of esophageal precancer in at-risk patients. For more information, please visit and for more information about its parent company PAVmed, please visit View original content to download multimedia: SOURCE Lucid Diagnostics Sign in to access your portfolio
