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Lucid Diagnostics To Make Nasdaq Debut Today

luciddiagnostics oct14 lt

New York- based Lucid Diagnostics, Inc. is making its debut on the Nasdaq Global Market today (October 14), under ticker symbol "LUCD".

Founded in 2018, Lucid Diagnostics is a commercial-stage medical diagnostics technology company developing an esophageal DNA test to help detect esophageal precancer for patients suffering from gastroesophageal reflux disease or GERD.

The company's lead products include EsoCheck and EsoGuard.

EsoCheck is a cell collection device that is designed to collect cells of a targeted region of the esophagus without the need for endoscopy. EsoGuard is a laboratory developed test which analyzes 31 methylated biomarkers in detecting Barrett's Esophagus.

The company has offered to sell 5.0 million ordinary shares at a price of $14 per share in the IPO. The underwriters have an option for a period of 30 days to purchase up to an additional 750 thousand shares.

The offering, which is scheduled to close to close on or about October 18, 2021, is expected to rake in gross proceeds of about $70 million.

Underwriters of the IPO:

Cantor Fitzgerald & Co., Canaccord Genuity LLC, BTIG, LLC, Needham & Company, LLC

Financial numbers:

For the six months ended June 30, 2021, the company reported a wider net loss of $9.82 million or $0.70 per share compared to $3.53 million or $0.25 per share in the same period last year.

The company has not generated any significant revenues to date, and expects to derive substantially all of its revenues from the EsoGuard and EsoCheck products.

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