Lucid Diagnostics (LUCD) Investor presentation summary

Market opportunity and commercial strategy

• Addresses a $60 billion total addressable U.S. market with over 30 million at-risk GERD patients recommended for screening.

• Over 90% gross margin per test, with Medicare payment set at $1,938 per test.

• Early market adoption and a highly effective commercialization strategy targeting primary care, gastroenterologists, health systems, and health fairs.

• VA Federal Supply Schedule contract enables standardized procurement by VA facilities nationwide.

• Hoag Health System launched a comprehensive EsoGuard testing program for system-wide implementation.

Product innovation and clinical value

• Offers the first and only commercial solution for widespread early detection of esophageal precancer and cancer.

• EsoCheck is a non-endoscopic, FDA 510k-cleared, office-based cell collection device with a 95% success rate.

• EsoGuard is the first commercially available esophageal DNA test recommended in major clinical guidelines.

• Utilizes next-generation sequencing to detect epigenetic changes, with a ~10-day turnaround time.

• Clinical evidence base includes pivotal studies and multiple peer-reviewed publications demonstrating clinical validity and utility.

Financial performance and capitalization

• Approximately 50,000 cumulative EsoGuard tests performed since launch, with growing revenue and claims paid.

• Market capitalization of $221.3M (primary) and $283.1M (fully diluted as of March 31, 2026).

• Cash position of $44.8M as of 1Q26, plus $18M from April 2023 financing.

• Average quarterly burn rate of $11.3M over the trailing four quarters through 1Q26.

• Secured convertible debt totals $22M.