24/7 Market News Snapshot 13 November, 2024 – Lucid Diagnostics Inc. Common Stock (NASDAQ:LUCD)

November 13, 2024

DENVER, Colo., 13 November, 2024 (247marketnews.com) – (NASDAQ:LUCD) are discussed in this article.
Lucid Diagnostics Inc. (LUCD) has demonstrated notable performance in the market, opening at $1.10 and climbing 11% to a current price of $1.11, driven by a trading volume of 1.54 million shares. This surge signals increased investor interest and indicates a possible reversal from recent downtrends, with crucial resistance levels identified around $1.15. Favorable momentum indicators support a bullish outlook, positioning LUCD for potential further growth as it gains market traction.

In addition to its stock performance, Lucid has reported significant advancements in its business strategy during a transformative third quarter. For the period ending September 30, 2024, the EsoGuard® Esophageal DNA Test generated $1.2 million in revenue, marking a remarkable 20% sequential growth and a 50% year-over-year increase. This uptick highlights the rising adoption of Lucid’s noninvasive screening solution aimed at identifying esophageal precancer in high-risk patients, particularly those suffering from GERD.

Key milestones during the quarter included the completion of a comprehensive clinical evidence package for Medicare submission and the expansion of direct contracting initiatives aimed at bolstering short-term revenue growth. The validation of the EsoGuard test was further strengthened by the acceptance of the ESOGUARD BE-1 clinical study for peer-reviewed publication, emphasizing its effectiveness.

Lishan Aklog, M.D., Chairman and CEO of Lucid, expressed that the company’s recent accomplishments reflect its dedication to enhancing patient outcomes and access to critical screening technologies. With over 2,700 tests conducted and a record of 1,400 tests performed in October alone, Lucid is strategically positioned to capitalize on market opportunities in cancer prevention, fueling its growth trajectory and inviting stakeholder engagement as it approaches its forthcoming conference call and webcast.

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