1. EsoGuard tests increased by 45% quarterly and 84% annually in 4Q24. 2. EsoGuard revenue reached $1.2 million in 4Q24. 3. New sales channel created over 20 concierge medicine contracts. 4. First agreement for EsoGuard payment under state biomarker legislation secured. 5. Lucid's CEO anticipates significant growth in revenue through broader payor coverage.
The revenue growth and increased demand for EsoGuard indicate positive market trends. Historical spikes in testing and revenue have previously led to increased stock prices.
Given the significant financial results and operational advancements, this article holds high relevance in influencing investor sentiment and stock performance for LUCD.
As new payment agreements and sales channels develop, sustained revenue increase is expected over time, similar to growth patterns seen in other diagnostic companies following successful product launches.
Processed a record 4,042 EsoGuard tests in 4Q24, a 45% sequential and 84% annual increase.
Recognized EsoGuard revenue of $1.2 million in 4Q24.
New sales channel generated over 20 new cash-pay concierge medicine contracts.
Secured first agreement to pay for EsoGuard under state biomarker legislation.
Conference call and webcast to be held today, March 24th at 8:30 AM EDT.
NEW YORK, March 24, 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, PAVMZ) ("PAVmed"), today provided a business update for the Company and reported financial results for the fourth quarter and full year ended December 31, 2024.
The webcast will take place on Monday, March 24, 2024, at 8:30 AM and will be accessible in the investor relations section of the Company's website at luciddx.com. 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 luciddx.com.
"The Lucid team finished 2024 on a strong note and 2025—which promises to be a pivotal year—is off to an exceptional start marked by significant advancements in EsoGuard's commercial coverage, sales channels, and clinical evidence base," said Lishan Aklog, M.D., Lucid's Chairman and Chief Executive Officer. "We believe we are on the cusp of achieving broader payor coverage for EsoGuard and expect our focus on new contractually-guaranteed revenue sales channels, including concierge medicine, to drive revenue growth in the second half of 2025. We are now well positioned to capitalize on EsoGuard's very large clinical and market opportunity."
Condensed consolidated statements of operations (unaudited) (in thousands except per-share amounts)
| For the three months ended | December 31, 2024 | December 31, 2023 |
|---|---|---|
| Revenue | $ 1,197 | $ 1,040 |
| Operating expenses | 13,571 | 12,494 |
| Net Loss | (11,541) | (10,829) |
| Net income (loss) per common share, basic and diluted | $ (0.20) | $ (0.26) |
About EsoGuard and EsoCheck
Millions of patients with gastroesophageal reflux disease (GERD) are at risk of developing esophageal precancer and a highly lethal form of esophageal cancer ("EAC"). Over 80 percent of EAC patients die within five years of diagnosis, making it the second most lethal cancer in the U.S. The U.S. incidence of EAC has increased 500 percent over the past four decades, while the incidences of other common cancers have declined or remained flat. EsoGuard is the only such test currently available in the United States.
Lucid Diagnostics Inc. is a commercial-stage, cancer prevention medical diagnostics company, focused on the millions of patients with GERD who are at risk of developing esophageal precancer and cancer. For more information, please visit luciddx.com.
This press release includes forward-looking statements that involve risk and uncertainties. For a further list and description of these risks and uncertainties, see the Company's most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission.
SOURCE Lucid Diagnostics