Lucid Diagnostics receives Medicare payments and closes $15 million financing

Lucid Diagnostics ($LUCD) said it has begun receiving Medicare reimbursement for its EsoGuard esophageal cancer test at the established rate of $1,938.01 per test. The announcement advances the reimbursement story from submission of claims to actual payments, an important commercial milestone for converting testing activity into cash receipts.

The company also disclosed completion of a $15 million private placement of Series C convertible preferred stock with existing investors. Preferred shares were priced at $1,000 each and are convertible into common stock at $0.3519 per share, creating potential dilution. Proceeds support working capital and commercial expansion. Initial Medicare collections do not establish that every future claim will be paid; reimbursement remains tied to applicable coverage and billing requirements. The financing was completed before the announcement.

Sources:

• PR Newswire