Lucid Diagnostics Awarded U.S. Department of Veterans Affairs Contract for EsoGuard®

Lucid Diagnostics (Nasdaq: LUCD) was awarded a contract by the U.S. Department of Veterans Affairs on January 21, 2026 to supply its EsoGuard® Esophageal DNA Test through the VA Federal Supply Schedule.

Rhea-AI Summary

Lucid Diagnostics (Nasdaq: LUCD) was awarded a contract by the U.S. Department of Veterans Affairs on January 21, 2026 to supply its EsoGuard® Esophageal DNA Test through the VA Federal Supply Schedule.

The contract expands access to esophageal precancer testing across the VA system serving more than 9 million enrolled veterans, uses a single national VA procurement framework, and sets pre-negotiated pricing that matches the established Medicare payment rate as determined by CMS.

Lucid said the selection reflects the clinical evidence for EsoGuard and plans to work with the VA and other integrated health systems to adopt the test into clinical practice.

Positive

• VA contract awarded for EsoGuard nationwide access
• Access expanded to the VA system serving 9 million enrolled veterans
• Pricing pre-negotiated to match Medicare payment rate via CMS
• Single national procurement simplifies VA hospital access

Negative

• None.

Argus Jan 21 session

-6.61% close to close Open Argus

Details

News Market Reaction – LUCD

On Jan 21, the day this news came out, LUCD closed 6.61% below the previous close.

Data tracked by StockTitan Argus for the Jan 21 session.

Key Figures

VA enrolled veterans: >9,000,000 veterans Q3 2025 revenue: $1.2 million 2025 YTD revenue: $3.2 million +5 more

VA enrolled veterans

>9,000,000 veterans

Served annually by U.S. Department of Veterans Affairs

Q3 2025 revenue

$1.2 million

Revenue for quarter ended September 30, 2025

2025 YTD revenue

$3.2 million

Year-to-date revenue through September 30, 2025

Q3 2025 operating loss

$11.8 million

Operating loss in Q3 2025

Q3 2025 net loss

$10.4 million

Net loss attributable to common stockholders in Q3 2025

Cash balance

$47.3 million

Cash as of September 30, 2025

Operating cash outflows

$33.9 million

Operating cash outflows for nine months ended September 30, 2025

Convertible notes face value

$21.975 million

Face value of 12% Senior Secured Convertible Notes

Historical Context

5 past events · Latest: Sep 16

5 events

1. Sep 16

   Executive appointment

   24h Move

   +0.9%

   Hired SVP to drive market access and government affairs for EsoGuard.

2. Sep 11

   Offering closed

   24h Move

   +4.9%

   Completion of dilutive equity offering with net proceeds to fund operations.

3. Sep 10

   Offering priced

   24h Move

   -19.7%

   Priced public offering of common stock at $1.00 per share.

4. Sep 09

   Offering proposed

   24h Move

   -19.7%

   Announced plan for underwritten public offering under an S-3 shelf.

5. Sep 05

   Investor call notice

   24h Move

   -0.7%

   Scheduled call to discuss MolDX CAC meeting on EsoGuard coverage.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

esophageal dna test, federal supply schedule, centers for medicare & medicaid services (cms)

3 terms

esophageal dna test medical

"for its EsoGuard® Esophageal DNA Test, expanding access to esophageal"

A esophageal DNA test collects cells from the throat or upper digestive tract and examines their DNA for genetic changes that signal early disease or cancer risk in the esophagus. Like a smoke alarm that detects subtle sparks before a fire, the test gives doctors an early warning that can lead to less invasive follow‑up and treatment; for investors, its accuracy, regulatory approval, and insurance coverage determine market potential and revenue prospects.

federal supply schedule regulatory

"The contract is issued under the VA Federal Supply Schedule and includes"

A federal supply schedule is a government-approved list of products and services sold to federal agencies at pre-negotiated prices and terms, like a vetted catalog that agencies can order from without redoing contracts each time. For investors, being on such a schedule can mean steadier, predictable sales, lower marketing and sales costs to the government, and a competitive advantage that can help revenue grow more reliably over time.

centers for medicare & medicaid services (cms) regulatory

"matches the established Medicare payment rate determined by the Centers for Medicare & Medicaid Services (CMS)"

A federal agency that runs the United States' major public health insurance programs for older adults, people with disabilities, and low-income individuals. Investors watch its rules, reimbursement rates and coverage decisions because they directly affect the revenue and costs of healthcare providers, drug makers and medical device companies—like a referee whose calls change how the game is played and who scores.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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NEW YORK, Jan. 21, 2026 /PRNewswire/ -- Lucid Diagnostics Inc. (Nasdaq: LUCD) ("Lucid" or the "Company"), a commercial-stage, cancer prevention medical diagnostics company and subsidiary of PAVmed Inc. (Nasdaq: PAVM), today announced that it has been awarded a contract by the U.S. Department of Veterans Affairs (VA) for its EsoGuard^® Esophageal DNA Test, expanding access to esophageal precancer testing across the nation's largest integrated healthcare system, which serves more than nine million enrolled veterans annually.

The contract is issued under the VA Federal Supply Schedule and includes pre-negotiated pricing for EsoGuard that matches the established Medicare payment rate determined by the Centers for Medicare & Medicaid Services (CMS), enabling VA hospitals and healthcare facilities nationwide to access EsoGuard through a single, national VA procurement framework.

"We are proud to partner with the U.S. Department of Veterans Affairs to expand access to EsoGuard for our nation's veterans," said Shaun O'Neil, President and Chief Operating Officer of Lucid Diagnostics. "The VA operates at significant clinical and operational scale, and selection by a healthcare system of this size reflects the strength of the clinical evidence supporting EsoGuard. We look forward to working with the VA and additional integrated health systems around the country to incorporate EsoGuard into standard clinical practice."

About Lucid Diagnostics
Lucid Diagnostics Inc. is a commercial-stage, cancer prevention medical diagnostics company, and subsidiary of PAVmed Inc. (Nasdaq: PAVM). Lucid is focused on the millions of patients with gastroesophageal reflux disease (GERD), also known as chronic heartburn, who are at risk of developing esophageal precancer and cancer. Lucid's EsoGuard^® Esophageal DNA Test, performed on samples collected in a brief, noninvasive office procedure with its EsoCheck^® Esophageal Cell Collection Device, represent the first and only commercially available tools designed with the goal of preventing cancer and cancer deaths through widespread, early detection of esophageal precancer in at-risk patients.

For more information, please visit www.luciddx.com and for more information about its parent company PAVmed, please visit www.pavmed.com.

Forward-Looking Statements
This press release includes forward-looking statements that involve risk and uncertainties. Forward-looking statements are any statements that are not historical facts. Such forward-looking statements, which are based upon the current beliefs and expectations of Lucid's management, are subject to risks and uncertainties, which could cause actual results to differ from the forward-looking statements. Risks and uncertainties that may cause such differences include, among other things, volatility in the price of Lucid's common stock; general economic and market conditions; the uncertainties inherent in research and development, including the cost and time required to advance Lucid's products to regulatory submission; whether regulatory authorities will be satisfied with the design of and results from Lucid's clinical and preclinical studies; whether and when Lucid's products are cleared by regulatory authorities; market acceptance of Lucid's products once cleared and commercialized; Lucid's ability to raise additional funding as needed; and other competitive developments. In addition, Lucid continues to monitor the COVID-19 pandemic and the pandemic's impact on Lucid's businesses. These factors are difficult or impossible to predict accurately and many of them are beyond Lucid's control. In addition, new risks and uncertainties may arise from time to time and are difficult to predict. For a further list and description of these and other important risks and uncertainties that may affect Lucid's future operations, see Part I, Item 1A, "Risk Factors," in Lucid's most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission, as the same may be updated in Part II, Item 1A, "Risk Factors" in any Quarterly Report on Form 10-Q filed by Lucid Diagnostics after its most recent Annual Report.  Lucid disclaims any intention or obligation to publicly update or revise any forward-looking statement to reflect any change in its expectations or in events, conditions, or circumstances on which those expectations may be based, or that may affect the likelihood that actual results will differ from those contained in the forward-looking statements.

View original content to download multimedia:https://www.prnewswire.com/news-releases/lucid-diagnostics-awarded-us-department-of-veterans-affairs-contract-for-esoguard-302666707.html

SOURCE Lucid Diagnostics

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did Lucid Diagnostics announce on January 21, 2026 regarding LUCD?

Lucid announced a VA contract to supply its EsoGuard esophageal DNA test nationwide.

How many veterans could gain access to EsoGuard through the VA contract for LUCD?

The VA system serves more than 9 million enrolled veterans, who could access EsoGuard.

What pricing terms did the VA contract for LUCD include for EsoGuard?

The contract includes pre-negotiated pricing that matches the Medicare payment rate determined by CMS.

Through what mechanism can VA hospitals purchase EsoGuard under the LUCD contract?

VA hospitals can access EsoGuard via the VA Federal Supply Schedule under a single national procurement framework.

What reason did Lucid give for the VA selecting EsoGuard in the LUCD announcement?

Lucid said selection reflects the strength of the clinical evidence supporting EsoGuard.