Lucid Diagnostics reports Q1 non-GAAP EPS (21c), consensus (27c)

Reports Q1 revenue $1.0M, consensus $1.05M. Lucid had cash and cash equivalents of $24.8M as of March 31, vs. $18.9M as of December 31, 2023. “I am very pleased with the excellent progress Lucid has made on multiple fronts during the first quarter and recent weeks and look forward to exciting very near-term milestones for our business,” said CEO Lishan Aklog. “We strengthened our balance sheet closing an approximately $30M preferred stock financing to long-term investors that extends our runway well past these milestones. Our EsoGuard commercial execution continues to deliver results as we drive towards expanded private and public coverage, as well as direct contracting. We look forward to our MolDX pre-submission meeting scheduled for mid-July where we will have the opportunity to present our now robust clinical evidence base for EsoGuard as we seek coverage under its Local Coverage Determination. We believe we have line of sight to Medicare coverage.”