Slide 1: Q2 2024 Business Update
Nasdaq: LUCD Q2 2024 Business Update August 12, 2024 Lishan Aklog MD Dennis McGrath Chairman & CEO CFO
Slide 2: Disclaimer
Disclaimer § This presentation may contain certain forward-looking statements related to or Lucid Diagnostics Inc. (the “Company”) that involve risks and uncertainties. § Actual results and events may differ significantly from results and events discussed in forward- looking statements. § Factors th
Slide 3: Lishan Aklog, M.D. Chairman & CEO
Lishan Aklog, M.D. Chairman & CEO
Slide 4: Highlights: Commercial Execution
Highlights § Commercial Execution – 2Q24 Revenue $1.0M: Flat Quarterly, +514% Annually – 2Q24 EsoGuard test volume 3,147, +31% Quarterly, +44% Annually Record EsoGuard quarterly test volume – Held over 50 high-volume health fair #CheckYourFoodTube Precancer Testing Events – Held first large #CYFT ev
Slide 5: Highlights: Key Strategic Accomplishments
Highlights § Key Strategic Accomplishments – ENVET-BE clinical utility study positive data released showing 2.4-fold increased endoscopy yield with EsoGuard – BE-1 clinical validation study positive data released showing EsoGuard sensitivity of 88% and NPV of 99% – Cleveland VA clinical validation s
Slide 6: Commercial-stage Cancer Prevention Medical Diagnostics Company
Nasdaq: LUCD Commercial-stage Cancer Prevention Medical Diagnostics Company Focused on Early Precancer Detection MISSION: Prevent Esophageal Cancer Deaths in At-risk Patients 6
Slide 7: EsoGuard Esophageal DNA Test
EsoGuard® Esophageal DNA Test First and only commercially available test capable of serving as a widespread screening tool to prevent esophageal cancer deaths through early detection of esophageal precancer 7
Slide 8: EsoGuard Performance vs. Comparable Early Detection Tests
EsoGuard Performance Vs. Comparable Early Detection Tests EsoGuard Cologuard Guardant Shield Guardant Stage I Esophageal Colorectal Stool Colorectal Blood 100% 100% 94% Short Segment Early 90% 83% 83% 86% Precancer (SSBE) 80% Sensitivity 70% 91% 60% 55% Negative Predictive 50% Value (NPV) 43% 40% 99
Slide 9: EsoGuard Commercial Opportunity
EsoGuard Commercial Opportunity ~30 Million X $1938 = ~$60 Billion At-Risk Medicare Total Addressable Chronic Heartburn Payment US Market Patients Recommended for Precancer Testing Over EsoGuard Estimated 90% Gross Margin at Volume 9
Slide 10: Multi-Pronged Commercial Strategy
Multi-Pronged Commercial Strategy Lucid Test Centers (LTC) Satellite LTC Physician Practices Mobile LTC #CYFT Health Fairs Health Systems 10
Slide 11: EsoGuard Revenue & Test Volume
EsoGuard Revenue & Test Volume $1,200,000 3,500 Revenue Tests 3,000 $1,000,000 2,500 $800,000 2,000 $600,000 1,500 $400,000 1,000 $200,000 500 $0 0 1Q21 2Q21 3Q21 4Q21 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 11
Slide 12: Commercial Execution
Commercial Execution § #CYFT Precancer Detection Events – Over 50 high-volume health fair #CYFT testing events – 4,000th firefighter underwent EsoGuard esophageal precancer testing – Robust pipeline of events scheduled through October § Direct Contracting – Deploying additional resources to initiati
Slide 13: Claims, Payments, Coverage
Claims, Payments, Coverage § Revenue Cycle Management – Continuous revenue cycle management improvements, including appeals enhancements, prior authorization expansion, physician advocacy, etc. – Median allowed payment stable near Medicare rate § Medical Policy Coverage – Held productive meeting on
Slide 14: Clinical Evidence
Clinical Evidence Study Name Design/Study population Study Status Publication Status ü Published in Science CWRU Pivotal Study Case-control clinical validation study ü Complete Translational Medicine ü Published in American Journal BETRNet Study Case-control clinical validation study ü Complete of G
Slide 15: ESOGUARD BE-1 Study
ESOGUARD BE-1 Study § 93 patients § Screening population § Precancer Sensitivity: 88% § PPV: 30% § NPV: 99% 15
Slide 16: ENVET-BE Study
ENVET-BE Study § 199 patients § EsoGuard as a triage tool to invasive endoscopy § EsoGuard increased yield of endoscopy by 2.4x 16
Slide 17: Q2 2024 Financial Update
[Lucid ys pa ae Q2 2024 Financial Update
Slide 18: Balance Sheet
Balance Sheet ($ in thousands) 1Q24 2Q24 Change Assets Cash $24,769 $24,920 $151 Fixed Assets 1,242 1,050 (192) All other Assets 6,037 8,143 2,106 Liabilities Accounts Payable 969 903 (66) Intercompany Debt due to PAVmed 1,871 266 (1,605) Other Current Liabilities 17,137 14,811 (2,326) Long-Term Lia
Slide 19: P&L
P&L ($ in thousands) 2Q23 2Q24 Change 1H23 1H24 Change Revenue $159 $976 $817 $605 $1,977 $1,372 Operating Expenses $11,743 $12,168 $425 $26,505 $23,960 $(2,545) Net Loss $(11,381) $(11,005) $376 $(27,628) $(21,617) $6,011 EBITDA $(10,661) $(10,877) $(216) $(26,340) $(21,044) $5,296 Stock-Based Comp
Slide 20: Non-GAAP Operating Expense
Non-GAAP Operating Expense To supplement our audited financial results presented in accordance with U.S. generally accepted accounting principles (GAAP), management provides certain non-GAAP financial measures of the Company’s financial results. Non-GAAP financial measures are presented with the int
Slide 21: Q&A
Q&A
Slide 22: Closing Remarks
(b) Lucid diagnostics Closing Remarks