LUCD - Lucid Diagnostics drops 18% as quarterly net loss skyrockets

Shares of Lucid Diagnostics (LUCD -18.9%) are down sharply today after the company reported that its Q3 2021 net loss widened ~244% to ~$7M (-$0.49 net loss per share, basic and diluted). Operating expenses increased ~225% to ~$6.6M. The company has just $200K in revenue for the quarter due to sales of its EsoGuard test for identifying Barrett's Esophagus. Lucid ended the quarter with $21K in cash. The company had its IPO last month. Lucid's parent company PAVmed (PAVM -20.8%) yesterday reported preliminary Q3 results that fell short of Street forecasts, sending shares down.

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Lucid Diagnostics drops 18% as quarterly net loss skyrockets