India, Oct. 22 -- Shares of Lucid Diagnostics Inc. (LUCD) rose about 40% in overnight trading after the PAVmed subsidiary on Thursday said it had begun receiving Medicare payments for its EsoGuard Esophageal DNA Test and closed a $15 million private placement.
EsoGuard analyzes esophageal cell samples collected using the EsoCheck device during a brief, noninvasive office procedure. It is designed to detect esophageal precancer in at-risk patients, including those with chronic heartburn.
Lucid began submitting claims after its September 22 announcement that tests performed at one of its two CLIA-certified laboratories would be billed to Medicare.
Shortly thereafter, Medicare is paying claims at EsoGuard's established Clinical Laboratory F...