Lucid Diagnostics tumbles on deep-discounted share sale
ReutersApr 10, 2025 10:13 AM
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
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