BUZZ-Lucid Diagnostics tumbles on stock offering unveil

Reuters
10 Apr
BUZZ-Lucid Diagnostics tumbles on stock offering unveil

** Shares of Lucid Diagnostics LUCD.O down ~25% to $1.24 in extended trading on equity raise plans

** New York-based commercial-stage subsidiary of PAVmed Inc PAVM.O announces stock offering without disclosing deal size

** With ~90.75 mln shares outstanding, co has about $150 mln market cap

** Stock on Weds finished up 1.9% at $1.65. Shares ended 2024 at 82 cents

** Canaccord Genuity sole bookrunner for proposed offering

** Lucid says it's focused on the millions of patients with gastroesophageal reflux disease (GERD), also known as chronic heartburn, who are at risk of developing esophageal precancer and cancer

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))

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