Lucid Diagnostics Inc.
We are a commercial-stage medical diagnostics technology company focused on the millions of patients with gastroesophageal reflux disease (GERD), also known as chronic heartburn, acid reflux or simply reflux, who are at risk of developing esophageal precancer and cancer, specifically highly lethal esophageal adenocarcinoma (EAC).
We believe that our lead products, the EsoGuard® Esophageal DNA Test performed on samples collected with the EsoCheck® Esophageal Cell Collection Device, constitute the first and only commercially available diagnostic test capable of serving as a widespread screening tool to prevent EAC deaths, through early detection of esophageal precancer in at-risk GERD patients. The technologies were highlighted in the NCI’s Annual Plan and Budget Proposal for FY2020 to Congress as one of the year’s significant advances in cancer prevention. We believe EsoGuard could have as great an impact in preventing EAC deaths as widespread Pap test screening has had in preventing cervical cancer deaths.
We were formed in May 2018 as a subsidiary of our parent company, PAVmed Inc. (Nasdaq: PAVM), to license the technologies underlying EsoGuard and EsoCheck from Case Western Reserve University (CWRU).
PAVmed Inc., or “PAVmed,” currently owns approximately 72.6% of our outstanding common stock, and is our controlling stockholder. After the IPO, PAVmed will continue to be the controlling stockholder.
As of the date of this prospectus, we have no employees. PAVmed makes certain of its employees available to us pursuant to a management services agreement between us executed concurrently with the License Agreement in May 12, 2018. Members of our leadership team are covered under the management services agreement, including Lishan Aklog, M.D., who will become our CEO upon consummation of this offering; Dennis McGrath, our CFO, and David Wurtman, M.D., our chief medical officer.
(Note: Lucid Diagnostics priced its IPO on Oct. 13, 2021, at $14 – the bottom of its $14-to-$16 price range – and sold 5 million shares, the same number of shares in the prospectus, to raise $70 million. Lucid Diagnostics had filed confidentially for an IPO on Jan. 21, 2021.)
|Industry:||SERVICES-COMMERCIAL PHYSICAL & BIOLOGICAL RESEARCH|
|Address||One Grand Central Place Suite 4600 New York, New York 10165|
|View Prospectus:||Lucid Diagnostics Inc.|
|Revenues||$0 mil (last 12 months)|
|Net Income||$-14.57 mil (last 12 months)|
|Price range||$14.00 - $14.00|
|Est. $ Volume||$70.0 mil|
|Manager / Joint Managers||Cantor Fitzgerald/ Canaccord Genuity|
|CO-Managers||BTIG/ Needham & Co.|
|Expected To Trade:||10/14/2021|
|Quiet Period Expiration Date:||Available only to Subscribers|
|Lock-Up Period Expiration Date:||Available only to Subscribers|
|SCOOP Rating||Available only to Subscribers|
|Rating Change||Available only to Subscribers|