Lucid Diagnostics Inc.

Lucid Diagnostics Begins Receiving Medicare Reimbursement for EsoGuard® and Closes $15 Million Financing

Lucid Diagnostics has begun receiving Medicare payments for its EsoGuard Esophageal DNA Test at the established Clinical Laboratory Fee Schedule rate of $1,938.01 per test. The company simultaneously closed a $15 million Series C convertible preferred private placement with existing long-term shareholders, including holders of a majority of its 12.0% senior secured notes due 2029, to fund commercial acceleration and working capital. Notably, participating noteholders acknowledged that Medicare payment receipts resolved the concerns behind the notes' Medicare-related event of default provision, removing a near-term credit overhang. The preferred converts into common at $0.3519 per share, setting up future dilution even as the reimbursement milestone opens a path to Medicare volume and commercial-payor coverage.

•10d ago

Lucid Diagnostics Advances Multiple EsoGuard® and EsoCheck® Payment, Billing and Coding Pathways

A Medicare Advisory Panel on Clinical Diagnostic Laboratory Tests recommended maintaining EsoGuard's original gapfill payment basis under the Clinical Laboratory Fee Schedule, and CMS has posted a consent agenda reflecting that recommendation with final determinations expected in November after a public comment period. Separately, the AMA CPT Editorial Panel approved a new Category III CPT code for reporting nonendoscopic esophageal cell collection performed with EsoCheck, giving physicians and health systems a billing pathway to track office-based collection procedures and their outcomes. A proposed ICD-10-CM diagnosis code (R85.83) for positive EsoGuard results, submitted by Lucid and supported by the American Foregut Society, drew a favorable response from the CDC/NCHS ICD-10 Coordination and Maintenance Committee; once finalized it would let physicians document the rationale for confirmatory endoscopy. Lucid will begin submitting Medicare claims under EsoGuard's PLA code 0114U at its Texas laboratory this month, while California claims wait until a revised local coverage determination from its pending reconsideration request takes effect — collectively advancing Medicare payment, billing and coding for its esophageal precancer test.

•1mo ago

PAVmed Provides Business Update and Reports Second Quarter 2026 Financial Results

Lucid Diagnostics reported $1.5 million in Q2 revenue from its EsoGuard test, processing 2,770 tests, and secured its first laboratory benefit manager coverage policy recognizing the test as medically necessary. Parent company PAVmed provided a corporate update noting progress across subsidiaries, including Veris Health's accelerated commercial rollout and PortIO's FDA pre-submission progress. PAVmed reported Q2 operating expenses of $7.1 million and a GAAP net loss of $5.5 million, holding $3.8 million in cash as of June 30, 2026.

•2mo ago

Lucid Diagnostics Provides Business Update and Reports Second Quarter 2026 Financial Results

Lucid Diagnostics reported Q2 2026 revenue of $1.5 million, processing 2,770 EsoGuard tests during the quarter. The company secured its first laboratory benefit manager coverage policy from Concert, designating EsoGuard as medically necessary for eligible patients. Financials show a GAAP net loss of $14.7 million, or $0.08 per share, with cash and cash equivalents decreasing slightly to $33.4 million.

•2mo ago

Lucid Diagnostics Secures Commercial Coverage Policy Spanning Multiple Health Plans for its EsoGuard® Esophageal DNA Test

Lucid Diagnostics announced that Concert has issued a positive coverage policy effective July 2026 for its EsoGuard Esophageal DNA Test for non-invasive screening of esophageal precancer and cancer. The policy recognizes EsoGuard as medically necessary for patients meeting American College of Gastroenterology (ACG) screening criteria, with multiple Concert client health plans already adopting the policy. CEO Lishan Aklog stated this represents a significant step toward broad commercial coverage and validates the strength of the company's clinical evidence base.

•2mo ago