Lucid Diagnostics, which makes diagnostic tests for esophageal precancer and cancer, announced terms for its IPO on Thursday.
The New York, NY-based company plans to raise $75 million by offering 5 million shares at a price range of $14 to $16. At the midpoint of the proposed range, Lucid Diagnostics would command a fully diluted market value of $575 million.
Lucid is a commercial-stage medical diagnostics technology company focused on patients with gastroesophageal reflux disease (GERD) who are at risk of developing esophageal precancer and cancer, specifically esophageal adenocarcinoma (EAC). The company believes that its lead products, the EsoGuard Esophageal DNA Test performed on samples collected with the EsoCheck Esophageal Cell Collection Device, constitute the first and only commercially available diagnostic test capable of serving as a widespread screening tool to prevent EAC deaths, through early detection of esophageal precancer in at-risk GERD patients.
Lucid Diagnostics was founded in 2018 and plans to list on the Nasdaq under the symbol LUCD. Cantor Fitzgerald and Canaccord Genuity are the joint bookrunners on the deal.
