Lucid Diagnostics Inc 2025年季度报告

FORM10-Q unvested restricted stock awards granted under the Lucid Diagnostics Inc. 2018 Long-Term Incentive Equity Plan as of such date). LUCID DIAGNOSTICS INC.and SUBSIDIARIES LUCID DIAGNOSTICS INC.and SUBSIDIARIES (amounts in these accompanying notes are presented in thousands, except number of shares and per-share amounts.) Note 1 —The Company Description of the Business Lucid Diagnostics Inc. is a commercial-stage, cancer prevention medical diagnostics company. Lucid is focused on the millions ofpatients with gastroesophageal reflux disease (GERD), also known as chronic heartburn, who are at risk of developing esophageal EsoGuard is a bisulfite-converted next-generation sequencing (NGS) DNA assay performed on surface esophageal cells collectedwith EsoCheck. Cell samples, including those collected with EsoCheck, as discussed below, are sent to our laboratory, for testing and EsoCheck is an FDA 510(k) cleared and CE Mark certified noninvasive swallowable balloon capsule catheter device designed forin-office targeted sampling of surface esophageal cells in a less than two-minute long office procedure. It consists of a vitamin sizedsemi-rigid plastic capsule tethered to a thin silicone catheter from which a soft inflatable silicone balloon with textured ridges emergesto gently swab surface esophageal cells. When suction is applied, the balloon and sampled cells are pulled into the capsule, protecting EsoGuard and EsoCheck are based on patented technology licensed by Lucid from Case Western Reserve University (“CWRU”).EsoGuard and EsoCheck have been developed to provide an accurate, non-invasive, patient-friendly test for the early detection ofEAC and Barrett’s Esophagus (“BE”), including dysplastic BE and related precursors to EAC in patients with chronic GERD. Note 2 —Liquidity and Going Concern The Company’s management is required to assess an entity’s ability to continue as a going concern within one year of the date ofthe financial statements being issued. In each reporting period, including interim periods, an entity is required to assess conditionsknown and reasonably knowable as of the financial statement issuance date to determine whether it is probable an entity will not meetits financial obligations within one year from the financial statement issuance date. Substantial doubt about an entity’s ability to The Company has financed its operations principally through public and private issuances of its common stock, preferred stock,and debt. The Company is subject to all of the risks and uncertainties typically faced by medical device and diagnostic companies thatdevote substantially all of their efforts to the commercialization of their initial product and services and ongoing research and The Company incurred a net loss attributable to Lucid Diagnostics Inc common stockholders of approximately $36.0million andhad net cash flows used in operating activities of approximately $12.5million for the three months ended March 31, 2025. As ofMarch 31, 2025, the Company had negative working capital of approximately $9.0million, with such working capital inclusive of the2024 Convertible Notes (as defined below) classified as a current liability of approximately $32.8million and approximately $25.2 The Company’s ability to continue operations 12 months beyond the issuance of the financial statements, will depend upongenerating substantial revenue that is conditioned upon obtaining positive third-party reimbursement coverage for its EsoGuardEsophageal DNA Test from both government and private health insurance providers, increasing revenue through contracting directlywith self-insured employers, and on its ability to raise additional capital through various potential sources including equity and/or debt Note 3 —Summary of Significant Accounting Policies Significant Accounting Policies The Company’s significant accounting policies are as disclosed in the Company’s Annual Report on Form 10-K for the year endedDecember 31, 2024 as filed with the SEC on March 24, 2025, except as otherwise noted herein below. Basis of Presentation The accompanying unaudited condensed consolidated financial statements of the Company and its subsidiaries have beenprepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”), and applicablerules and regulations of the United States Securities and Exchange Commission (“SEC”), and include the accounts of the Company As permitted under SEC rules, certain footnotes or other financial information normally required by U.S. GAAP have beencondensed or omitted. The balance sheet as of December 31, 2024 has been derived from audited consolidated financial statements atsuch date. The accompanying unaudited condensed consolidated financial statements have been prepared on the same basis as theCompany’s annual consolidated financial statements, and in the opinion of management, include all adjustments, consisting only of The u