Lucid's Chairman And CEO Says We Strengthened Balance Sheet Closing ~$30M Preferred Stock Financing To Long-Term Investors; Extends Our Runway Past Milestones; EsoGuard Commercial Execution Continues To Deliver Results As We Drive Towards Expanded Private And Public Coverage, As Well As Direct Contracting
Portfolio Pulse from Benzinga Newsdesk
Lucid's Chairman and CEO announced the company has strengthened its balance sheet by closing approximately $30M in preferred stock financing with long-term investors. This move extends Lucid's financial runway past key milestones. Additionally, the CEO highlighted the ongoing success of EsoGuard's commercial execution, which is driving towards expanded coverage both in the private and public sectors, as well as through direct contracting.
May 13, 2024 | 12:08 pm
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Lucid has successfully closed approximately $30M in preferred stock financing, which strengthens its balance sheet and extends its financial runway. The company also reports continued success with EsoGuard's commercial execution.
The closing of approximately $30M in preferred stock financing is a significant positive development for Lucid, indicating strong investor confidence and providing the company with a more robust financial foundation. This financial maneuver not only extends Lucid's operational runway, allowing it to reach and surpass important milestones, but also supports the ongoing commercial success of its EsoGuard product. The mention of driving towards expanded private and public coverage, as well as direct contracting, suggests that Lucid is making strategic moves to enhance its market presence and revenue potential from EsoGuard.
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