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Lucid Diagnostics Reports on First Quarter 2025 Financial Results

On May 14, 2025, Lucid Diagnostics Inc. (Nasdaq: LUCD) provided a comprehensive update on its business and financial performance for the first quarter of 2025. As a prominent player in cancer prevention medical diagnostics, Lucid facilitated noteworthy developments that can potentially revolutionize the early detection of esophageal precancer and cancer.

Business Overview

During the first quarter, Lucid processed a total of 3,034 EsoGuard® esophageal DNA tests, generating revenue of $0.8 million. These results reflect a steady increase in demand for the company's flagship product, the EsoGuard test, which is crucial for patients at risk of developing esophageal cancer due to conditions like GERD (gastroesophageal reflux disease).

The company has made significant strides in strengthening its financial position, ending the quarter with over $40 million in proforma cash. This healthy cash reserve provides an extended runway for Lucid, well beyond key forthcoming reimbursement milestones which include anticipated Medicare coverage.

CEO Lishan Aklog, M.D., expressed optimism about the company's future, stating, "We are now better positioned than ever to capitalize on EsoGuard's significant clinical and commercial opportunity." This encapsulates the firm’s strategy to expand its reach and influence in the burgeoning medical diagnostics market.

Highlights of First Quarter 2025

Lucid's achievements in Q1 2025 are indicative of their robust growth trajectory:

• - Processed 3,034 tests: This significant number highlights the growing acceptance of the EsoGuard test among healthcare providers and patients.
• - Secured new capital: The company strengthened its balance sheet with two stock offerings, netting approximately $30.6 million, which is projected to cover operational needs into 2026.
• - Launched marketing campaign: The "Embrace the Future" campaign aims to promote the EsoCheck® Cell Collection Device, emphasizing its innovative Collect+Protect™ technology. This campaign is expected to enhance patient awareness and accessibility.
• - Strategic partnerships: Lucid has collaborated with a prominent health system to roll out an extensive EsoGuard testing program. This initiative improves access for at-risk individuals in various healthcare settings.
• - Traction in niche markets: The company is making headway in cash-pay concierge medicine and self-insured employer markets, which are anticipated to contribute significantly to revenue in the second half of 2025.
• - Study endorsements: An NCI-sponsored study demonstrated that the EsoGuard effectively identifies esophageal precancer in patients without GERD, potentially expanding the market by an impressive 70%.
• - Intellectual property advancements: The granting of a U.S. patent for the technology underpinning EsoGuard reinforces Lucid's commitment to innovation and protection of its proprietary methods.

Financial Performance

Lucid's financial results for Q1 2025 show:

• - Revenue: Total revenues related to EsoGuard stand at $0.8 million.
• - Operating Expenses: These are reported at approximately $13.3 million, including $1.0 million in stock-based compensation.
• - Net Loss: The GAAP net loss attributable to common stockholders was around $36.0 million, equating to $(0.52) per share. Adjusted for stock-based compensation and non-cash expenses, the non-GAAP loss was reported at approximately $11.2 million or $(0.16) per share.
• - Cash Position: As of March 31, 2025, Lucid held cash and equivalents of $25.2 million, a notable increase from $22.4 million at the end of 2024.

With plans to launch a conference call and webcast to discuss these results further, Lucid Diagnostics is poised to keep its stakeholders informed of ongoing and future developments. Investors are encouraged to stay tuned for subsequent updates as the company progresses in its mission to revolutionize cancer prevention through innovative diagnostics technology.

For further details about Lucid Diagnostics and to stay updated on their progress, visit luciddx.com.