Quarterly test volume of over 4,000 tests
represented sequential increase of 45 percent
NEW
YORK, Jan. 13, 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 it performed a record
number of commercial EsoGuard® Esophageal DNA
Tests during the fourth quarter of 2024. The preliminary total
of 4,042 tests, the highest quarterly test volume in the Company's
history, represents a sequential increase of 45 percent from the
third quarter 2024 and an annual increase of 84 percent from the
fourth quarter of 2023, demonstrating continued growing demand for
EsoGuard esophageal precancer testing.
"Our record fourth quarter performance caps off a strong year
and positions us for a transformational 2025," said Lishan Aklog, M.D., Lucid's Chairman and Chief
Executive Officer. "We're entering this year with significant
momentum and with a continued focus on translating EsoGuard test
volume into revenue through our three key commercial revenue
drivers: traditional claims submissions; direct contracting with
employers and self-insured entities; and our new cash pay program
focused on concierge medicine practices. We anticipate these
strategic initiatives combined with our ongoing efforts to
secure Medicare coverage will accelerate revenue growth and expand
awareness of, demand for, and access to EsoGuard esophageal
precancer testing."
Lucid expects to report full results for the three and twelve
months ended December 31, 2024, in
mid-March 2025. The preliminary
estimates in this press release are based on management's initial
review of operations for the quarter ended December 31, 2024, and are subject to adjustment
based upon quarter-end closing and audit procedures.
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, please visit www.luciddx.com and for more
information about its parent company PAVmed, please visit
www.pavmed.com.
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.
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SOURCE Lucid Diagnostics