Lucid Diagnostics tumbles on deep-discounted share sale

Lucid Diagnostics

10/04/2025 11:13

**  Shares of Lucid Diagnostics LUCD.O down 24.2% to $1.25 before the bell after overnight follow-on priced

** New York-based commercial-stage co late Weds sold 12.5 mln shares at $1.20 for $15 mln gross proceeds

** Offering priced at 27.3% discount to last sale

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

** LUCD had ~90.75 mln shares outstanding as of Mar 20, per most recent 10-k filing, giving it $150 mln market cap

** Co's flagship product, the EsoGuard Esophageal DNA Test, is used to screen for esophageal precancer and cancer in at-risk gastroesophageal reflux disease (GERD) patients

** Stock ended 2024 at 82 cents

** Canaccord Genuity sole bookrunner for stock offering

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

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