Medtech company with ties to CWRU, UH completes $70 million IPO


Lucid Diagnostics Inc. (Nasdaq: LUCD), an esophageal cancer test-maker that uses technology developed jointly by medical school faculty at Case Western Reserve University and University Hospitals, has completed a $70 million initial public offering.

The New York-based company on Monday, Oct. 18, announced the close of the sale of 5 million shares at $14 per share in the IPO. With about 37 million shares outstanding after the IPO, the initial trading price valued Lucid Diagnostics at around $471.65 million. You can go here to read the S-1 Lucid Diagnostics filed with the U.S. Securities and Exchange Commission outlining its business operations.

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Story excerpt provided by Crain’s Cleveland Business.

Written by Scott Suttell.

Originally published October 19, 2021.

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