Lucid Diagnostics falls on $18 mln direct stock deal

Canaccord Genuity

23/04/2026 14:25

** Lucid Diagnostics' LUCD.O shares down 13.7% before the bell to $1.13 after $18 mln equity raise

** New York City-based medical diagnostics firm says it sold 18 mln shares in direct offering at $1, a 23.7% discount to stock's last close

** Offering anchored by $15 mln investment from a fundamental institutional investor, along with support from a large existing shareholder, co says

** PAVmed Inc PAVM.O subsidiary plans to use net offering proceeds for working capital, general purposes

** Canaccord Genuity and BTIG joint bookrunners

** LUCD's flagship product, the EsoGuard Esophageal DNA Test, screens for esophageal precancer and cancer in at-risk gastroesophageal reflux disease patients

** Co has ~176.9 mln shares outstanding

** Through Weds, LUCD shares up 20% YTD

** 1 analyst rates the stock "strong buy", the other 4 recommend "buy"; median PT $3, per LSEG data

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))