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.
Key figures
- Drug Name
- EsoGuard Esophageal DNA Test
- Deal Value Usd
- 15000000
- Offering Price
- 0.3519
- Financing type
- Series C Convertible Preferred Stock private placement
- Conversion price per share
- 0.3519
- Registration deadline days
- 120
- Preferred purchase price per share
- 1000
AI analysis
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