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Associated Press
14-05-2025
- Business
- Associated Press
Lucid Diagnostics Provides Business Update and Reports First Quarter 2025 Financial Results
Processed 3,034 EsoGuard® tests and recognized revenue of $0.8 million in 1Q25 Secured capital to extend runway well past key upcoming reimbursement milestones; ended 1Q25 with over $40 million in proforma cash Conference call and webcast to be held today, May 14th, at 8:30 AM EDT NEW YORK, May 14, 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) ('PAVmed'), today provided a business update for the Company and reported financial results for the three months ended March 31, 2025. Conference Call and Webcast The webcast will take place on Wednesday, May 14, 2025, at 8:30 AM and will be accessible in 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 Business Highlights 'We are now better positioned than ever to capitalize on EsoGuard's significant clinical and commercial opportunity,' said Lishan Aklog, M.D., Lucid's Chairman and Chief Executive Officer. 'We continue to make strong progress on multiple fronts – expanding our cash-pay and contracted programs targeting concierge medicine practices and self-insured employers, while also gaining traction with regional commercial insurers for EsoGuard coverage. With additional capital secured, we have extended our operational runway well beyond key upcoming reimbursement milestones, including Medicare. This positions us to accelerate commercialization efforts once these milestones are achieved.' Financial Results Lucid Non-GAAP Measures About Lucid Diagnostics Lucid Diagnostics Inc. is a commercial-stage, cancer prevention medical diagnostics company, and subsidiary of PAVmed Inc. Lucid is focused on the millions of patients with 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 - the first and only commercially available tools designed with the goal of preventing esophageal 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 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 Diagnostics' 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 Diagnostics' common stock; general economic and market conditions; the uncertainties inherent in research and development, including the cost and time required to advance Lucid Diagnostics' products to regulatory submission; whether regulatory authorities will be satisfied with the design of and results from Lucid Diagnostics' clinical and preclinical studies; whether and when Lucid Diagnostics' products are cleared by regulatory authorities; market acceptance of Lucid Diagnostics' products once cleared and commercialized; Lucid Diagnostics' ability to raise additional funding as needed; and other competitive developments. These factors are difficult or impossible to predict accurately and many of them are beyond Lucid Diagnostics' 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 Diagnostics' future operations, see Part I, Item 1A, 'Risk Factors,' in Lucid Diagnostics' 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 Diagnostics 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
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
Yahoo
11-04-2025
- Business
- Yahoo
Lucid Diagnostics Announces Closing of Public Offering of Common Stock
NEW YORK, April 11, 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 the closing of its previously announced underwritten public offering of 14,375,000 shares of its common stock, including 1,875,000 shares issued pursuant to the exercise of the underwriters' option to purchase additional shares, at a public offering price of $1.20 per share. The total net proceeds from the offering, after deducting the underwriting discounts and commissions and other estimated offering expenses, are expected to be approximately $16.1 million. The Company intends to use the net proceeds from this offering for working capital and general corporate purposes. Canaccord Genuity LLC acted as the sole bookrunner of the offering, and Maxim Group LLC acted as co-manager. The securities were offered pursuant to a shelf registration statement on Form S-3 (File No. 333-268560) declared effective by the Securities and Exchange Commission on December 6, 2022. A prospectus supplement relating to the offering was filed with the Securities and Exchange Commission, together with an accompanying base prospectus, on April 10, 2025. Copies of the prospectus supplement relating to the offering, together with the accompanying base prospectus, may be obtained from Canaccord Genuity LLC, Attention: Syndicate Department, One Post Office Square, Suite 3000, Boston, MA 02109, or by email at prospectus@ This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities in any state or other jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. 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 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 Diagnostics' 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 Diagnostics' common stock; general economic and market conditions; the uncertainties inherent in research and development, including the cost and time required to advance Lucid Diagnostics' products to regulatory submission; whether regulatory authorities will be satisfied with the design of and results from Lucid Diagnostics' clinical and preclinical studies; whether and when Lucid Diagnostics' products are cleared by regulatory authorities; market acceptance of Lucid Diagnostics' products once cleared and commercialized; Lucid Diagnostics' ability to raise additional funding as needed; and other competitive developments. These factors are difficult or impossible to predict accurately and many of them are beyond Lucid Diagnostics' 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 Diagnostics' future operations, see Part I, Item 1A, "Risk Factors," in Lucid Diagnostics' 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 Diagnostics 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 Sign in to access your portfolio
Yahoo
26-03-2025
- Business
- Yahoo
PAVmed Inc (PAVM) Q4 2024 Earnings Call Highlights: Strategic Growth and Financial Stability
Lucid Diagnostics Revenue: $1.2 million in the fourth quarter. EsoGuard Test Volume: 4,042 tests, representing a 45% growth quarter-on-quarter. Veris Health Financing: $2.4 million private placement at a $35 million pre-money valuation. NIH Grant for Veris: $1.8 million, payable over two years. Cash Flow: Operating at cash flow breakeven with incremental expenses offset by dedicated funding. Non-GAAP Loss: $688,000 for the fourth quarter, offset by NIH grant proceeds of $900,000. Management Service Income: $3.2 million from Lucid Diagnostics for the quarter. Operating Expenses: Approximately $5.2 million, including $700,000 in stock-based compensation. GAAP Net Income: $1.3 million or $0.12 per common share on a diluted basis for the quarter. Non-GAAP Operating Expenses: $4.2 million for the fourth quarter. Warning! GuruFocus has detected 3 Warning Signs with PAVM. Release Date: March 25, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. PAVmed Inc (NASDAQ:PAVM) successfully completed a strategic transformation to stabilize its corporate structure and balance sheet, positioning the company for sustainable growth. Lucid Diagnostics, a subsidiary of PAVmed Inc (NASDAQ:PAVM), achieved a 45% growth in test volume quarter-on-quarter, generating $1.2 million in revenue. The company secured its first positive commercial insurance coverage policy for EsoGuard with Highmark Blue Cross Blue Shield in New York. PAVmed Inc (NASDAQ:PAVM) strengthened its balance sheet through long-term debt refinancing and a registered direct common stock offering, extending its cash runway. Veris Health, another subsidiary, completed a private placement financing with gross proceeds of $2.4 million, reflecting strong investor confidence in its long-term commercial potential. PAVmed Inc (NASDAQ:PAVM) faces uncertainties related to forward-looking statements, which are subject to known and unknown risks that could affect actual results. The company is still awaiting a response from the MolDX Group regarding Medicare coverage for EsoGuard, which introduces uncertainty in reimbursement timelines. PAVmed Inc (NASDAQ:PAVM) has ongoing discussions with financial and strategic investors for direct investment in PortIO Corp, indicating a need for additional funding. The deconsolidation of Lucid Diagnostics from PAVmed Inc (NASDAQ:PAVM)'s financial statements has led to complexities in financial reporting and understanding historical data. The company is dependent on securing funding for Veris Health and PortIO to cover incremental development costs, which could impact future operations if not obtained. Q: Can you provide details on the Veris Health Care Cancer platform's pilot program with Ohio State and the nature of the contract? A: Lishan Aklog, Chairman and CEO, explained that the engagement with Ohio State is both a commercial and strategic partnership. The contract will involve Ohio State enrolling a substantial number of patients in a registry, which will help in data collection for ongoing improvements and AI development. Ohio State will also be the first site for the initial implantation of the device once FDA cleared. Q: What is the timeline for the implantable device's FDA approval now that funding is secured? A: Lishan Aklog stated that the manufacturing process is being rebooted, and they expect to be ready for submission by the end of this year or early 2026. The FDA has been engaged in pre-submission meetings, and it appears a full-blown clinical trial may not be necessary, which could expedite the process. Q: Are there any competing products for Veris as you engage with other cancer centers? A: Lishan Aklog noted that while there are generic remote patient monitoring tools, Veris is unique as it is specifically designed for cancer patients undergoing systemic therapy. The implantable device is a proprietary technology that will serve as a significant differentiator and barrier to entry for competitors. Q: What is the path to FDA approval for PortIO, and are additional studies required? A: Lishan Aklog explained that PortIO is a new category of device using the intraosseous site for long-term vascular access. The pathway involves a de novo submission, and they plan to launch an IDE study with 50-80 patients, aiming for FDA clearance within two years of the study's start. Q: Can you provide insights into discussions with other institutions for Veris pilot launches and learnings from OSU? A: Lishan Aklog mentioned that they have had meaningful conversations with about a dozen cancer centers and more advanced discussions with four or five. The focus is currently on advancing the implantable device, and they plan to expand pilot sites after its clearance, leveraging data from the OSU engagement. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Sign in to access your portfolio
Yahoo
05-03-2025
- Business
- Yahoo
Lucid Diagnostics Announces Closing of $15.3 Million Registered Direct Offering
NEW YORK, March 5, 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 the closing of its previously announced registered direct offering of 13,939,331 shares of common stock at a purchase price of $1.10 per share. The gross proceeds to the Company from this offering are approximately $15.3 million, before deducting the approximately $0.8 million in placement agent's fees and other offering expenses payable by the Company. Canaccord Genuity acted as the sole placement agent for this offering. The Company intends to use the net proceeds from this offering for working capital and other general corporate purposes. The securities described above were offered pursuant to a registration statement on Form S-3 (File No. 333-268560), which was declared effective by the Securities and Exchange Commission on December 6, 2022. A final prospectus supplement relating to the offering has been filed with the SEC and is available on the SEC's website at Electronic copies of the final prospectus supplement and accompanying base prospectus included in the registration statement may be obtained by contacting Canaccord Genuity LLC, Attention: Syndicate Department, One Post Office Square, Suite 3000, Boston, MA 02109, or by email at prospectus@ 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 View original content to download multimedia: SOURCE Lucid Diagnostics Sign in to access your portfolio
