Lucid Diagnostics Achieves Unprecedented Growth in EsoGuard Testing Volume

Lucid Diagnostics Inc. (Nasdaq: LUCD) has announced an outstanding achievement in its operations, revealing that it performed an unprecedented number of EsoGuard® Esophageal DNA Tests during the fourth quarter of 2024. The company, which focuses on cancer prevention diagnostics, reached a historical high of 4,042 tests, showcasing a number of key growth metrics for this innovative screening tool. This figure represents a staggering 45% increase in test volume compared to the prior quarter and an impressive 84% year-over-year rise from the fourth quarter of 2023.

The surge in testing volume reflects an escalating awareness of the importance of early detection in identifying esophageal precancer, particularly among patients suffering from gastroesophageal reflux disease (GERD). Lishan Aklog, M.D., the Chairman and CEO of Lucid, emphasized the significance of this achievement, stating that it culminates a strong year and sets the pace for an impactful 2025. He noted, "We’re entering this year with significant momentum and with a continued focus on translating EsoGuard test volume into revenue."

Lucid Diagnostics is strategically positioned to enhance its revenue through a multi-faceted approach that includes traditional claims submissions, direct contracting with employers and self-insured entities, and a new cash pay program aimed at concierge medicine practices. These strategies are expected not only to boost revenue but also to expand awareness and access to the crucial EsoGuard testing, which continues to gain traction in the healthcare community.

The EsoGuard test leverages advanced DNA technology to identify potential precancerous conditions. Conducted in a quick and non-invasive manner through the EsoCheck® Esophageal Cell Collection Device, Lucid’s offering remains the first and only comprehensive commercial solution specifically designed to catch esophageal precancer at an early stage. This innovation is aimed at reducing the risks associated with esophageal cancer, a condition that often remains undetected until it is in advanced stages.

Looking ahead, Lucid plans to announce comprehensive results for the three and twelve months ending December 31, 2024, in mid-March 2025. The preliminary figures reported in the recent press release are intended as a first insight based on Lucid's operational overview and are subject to final adjustments post review and auditing processes.

As part of the ongoing developments, Lucid continues to pursue strategic partnerships and initiatives, including efforts to secure Medicare coverage, which could further accelerate growth. The expansion of their sales approaches is expected to capitalize on the burgeoning demand for innovative cancer detection solutions, potentially transforming the landscape for cancer diagnostics.

About Lucid Diagnostics
Lucid Diagnostics Inc. stands at the forefront of medical diagnostics for cancer prevention, serving as a subsidiary of PAVmed Inc. (Nasdaq: PAVM). The company’s vision is centered around improving the lives of millions at risk of serious esophageal ailments through effective testing solutions. By focusing on early detection and diagnosis, Lucid reinforces its commitment to safeguarding patient health and delivering innovative healthcare solutions.

For further details, explore the comprehensive resources available on their official website at www.luciddx.com and insights about PAVmed at www.pavmed.com.