Lucid Diagnostics Inc. Files 2023 Annual Report on Form 10-K

TL;DR

<b>Lucid Diagnostics Inc. filed its 2023 10-K, detailing financial performance and corporate structure for the fiscal year ending December 31, 2023.</b>

AI Summary

Lucid Diagnostics Inc. (LUCD) filed a Annual Report (10-K) with the SEC on March 25, 2024. Lucid Diagnostics Inc. filed its 2023 Form 10-K on March 25, 2024. The filing covers the fiscal year ending December 31, 2023. Key financial data for 2023 and 2022 is presented. The company is incorporated in Delaware. The filing includes details on various stock and agreement members.

Why It Matters

For investors and stakeholders tracking Lucid Diagnostics Inc., this filing contains several important signals. This 10-K filing provides a comprehensive overview of Lucid Diagnostics' financial health and operational status for the past fiscal year, crucial for investors assessing performance and future prospects. The detailed financial statements and disclosures within the 10-K are essential for understanding the company's revenue, expenses, and overall financial position, including any significant agreements or stock-related activities.

Risk Assessment

Risk Level: medium — Lucid Diagnostics Inc. shows moderate risk based on this filing. The company's financial performance and operational details are presented in a standard 10-K format, which typically contains forward-looking statements and risk factors that require careful investor due diligence.

Analyst Insight

Investors should review the detailed financial statements and risk factors in the 10-K to assess Lucid Diagnostics' current financial health and future growth potential.

Key Numbers

• 2023-12-31 — Fiscal Year End (Reporting period)
• 2024-03-25 — Filing Date (Date of submission)
• 001-40901 — SEC File Number (SEC registration number)
• 3841 — SIC Code (Standard Industrial Classification)

Key Players & Entities

• Lucid Diagnostics Inc. (company) — Filer name
• 2023-12-31 (date) — Fiscal year end
• 2024-03-25 (date) — Filing date
• 0001799011 (company) — Central Index Key
• 3841 (industry) — Standard Industrial Classification
• DE (location) — State of incorporation
• 001-40901 (filing) — SEC file number
• 360 MADISON AVENUE (address) — Business address

FAQ

Risk Factors

• Financial Condition [medium — financial]: The company's financial condition, including its ability to fund operations and meet its obligations, is a key area of disclosure in the 10-K.
• Market Acceptance of Products [medium — market]: The success of Lucid Diagnostics' products in the market is critical for revenue generation and future growth.
• Operational Execution [medium — operational]: The company's ability to effectively execute its business plan and manage its operations is a significant factor.
• Regulatory Compliance [medium — regulatory]: Adherence to healthcare and other relevant regulations is essential for the company's operations and market access.

Key Dates

• 2024-03-25: 10-K Filing — Annual report submission for fiscal year 2023.
• 2023-12-31: Fiscal Year End — End date of the reporting period.

Key Financial Figures

• $0.001 — nge on which Registered Common Stock, $0.001 par value per share LUCD The NASDAQ
• $1.39 — are of the registrant's common stock of $1.39 on such date. As of March 21, 2024 th
• $60 billion — le U.S. market opportunity approximates $60 billion based on an effective Medicare payment
• $1,938 — sed on an effective Medicare payment of $1,938 and the estimated 30 million U.S. patie
• $100 million — s follows: 5% of net sales of less than $100 million per year; and 8% of net sales greater t
• $50,000 — mum annual royalty payments as follows: $50,000 per year, beginning January 1 following
• $150,000 — commercial sale of a licensed product; $150,000 per year, if net sales of a licensed pr
• $25 million — net sales of a licensed product exceed $25 million in a year; $300,000 per year, if net sa
• $300,000 — d product exceed $25 million in a year; $300,000 per year, if net sales of a licensed pr
• $50 million — net sales of a licensed product exceed $50 million in a year; and $600,000 per year, if ne
• $600,000 — oduct exceed $50 million in a year; and $600,000 per year, if net sales of a licensed pr
• $200,000 — we will pay CWRU a milestone payment of $200,000. The license agreement terminates upon

Filing Documents

• form10-k.htm (10-K) — 1777KB
• ex4-1.htm (EX-4.1) — 52KB
• ex10-4_9.htm (EX-10.4-9) — 15KB
• ex10-12_2.htm (EX-10.12-2) — 14KB
• ex21-1.htm (EX-21.1) — 8KB
• ex23-1.htm (EX-23.1) — 4KB
• ex31-1.htm (EX-31.1) — 18KB
• ex31-2.htm (EX-31.2) — 18KB
• ex32-1.htm (EX-32.1) — 7KB
• ex32-2.htm (EX-32.2) — 7KB
• ex97-1.htm (EX-97.1) — 54KB
• 0001493152-24-011161.txt (&nbsp;) — 7891KB
• lucd-20231231.xsd (EX-101.SCH) — 56KB
• lucd-20231231_cal.xml (EX-101.CAL) — 80KB
• lucd-20231231_def.xml (EX-101.DEF) — 223KB
• lucd-20231231_lab.xml (EX-101.LAB) — 474KB
• lucd-20231231_pre.xml (EX-101.PRE) — 399KB
• form10-k_htm.xml (XML) — 1045KB

Business

Business 1 Item 1A.

Risk Factors

Risk Factors 14 Item 1B. Unresolved Staff Comments 40 Item 1C. Cybersecurity 40 Item 2. Property 40 Item 3.

Legal Proceedings

Legal Proceedings 40 Item 4. Mine Safety Disclosures 40 PART II Item 5. Market for Registrants Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 41 Item 6. [Reserved] 41 Item 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 42 Item 7A. Quantitative and Qualitative Disclosure About Market Risk 50 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 50 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 50 Item 9A.

Controls and Procedures

Controls and Procedures 51 Item 9B. Other Information 51 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 51 PART III Item 10. Directors, Executive Officers, and Corporate Governance 52 Item 11.

Executive Compensation

Executive Compensation 52 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 52 Item 13. Certain Relationships and Related Transactions and Director Independence 52 Item 14. Principal Accountant Fees and Services 52 PART IV Item 15. Exhibits and Financial Statement Schedules 53 Item 16. Form 10-K Summary 55 i FORWARD-LOOKING This Annual Report on Form 10-K (this "Form 10-K"), including the discussion and analysis of our consolidated financial condition and results of operations set forth under Item 7 of this Form 10-K, contains forward-looking statements that involve substantial risks and uncertainties. All results of operations and financial position, business strategy and plans and objectives of management for future operations, are

forward-looking statements. The words "may," "will," "should," "expects,"

forward-looking statements. The words "may," "will," "should," "expects," "plans," "anticipates," "could," "intends," "target," "projects," "contemplates," "believes," "estimates," "predicts," "potential" or "continue" or the negative of these terms or other similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Forward-looking expressed or implied in the forward-looking statements. Factors that might cause such differences include, but are not limited to, those discussed in Item 1A of Part I of the Form 10-K under the heading "Risk Factors." Important factors that may affect our actual results include: our limited operating history; our financial performance, including our ability to generate revenue; our ability to obtain regulatory approval for the commercialization of our products; the risk that the FDA will cease to exercise enforcement discretion with respect to LDTs, like EsoGuard; the ability of our products to achieve market acceptance; our success in retaining or recruiting, or changes required in, our officers, key employees or directors; our potential ability to obtain additional financing when and if needed; our ability to protect our intellectual property; our ability to complete strategic acquisitions; our ability to manage growth and integrate acquired operations; the potential liquidity and trading of our securities; our regulatory and operational risks; cybersecurity risks; risks related to the COVID-19 pandemic and other health-related emergencies; risks related to our relationship with PAVmed; and our estimates regarding expenses, future revenue, capital requirements and needs for additional financing. In addition, our forward-looking statements do not reflect the potential impact of any future fina

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View this 10-K filing on SEC EDGAR