Lucid Diagnostics, which makes diagnostic tests for esophageal precancer and cancer, raised $70 million by offering 5 million shares at $14, the low end of the range of $14 to $16.
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 plans to list on the Nasdaq under the symbol LUCD. Cantor Fitzgerald and Canaccord Genuity acted as joint bookrunners on the deal.
