Lucid Diagnostics Provides Business Update and Reports Fourth Quarter and Full Year 2024 Financial Results Processed a record 4,042 EsoGuard tests in 4Q24, a 45% sequential and 84% annual increase Recognized EsoGuard rev

Diagnostics Provides Business Update and Reports Fourth Quarter and Full Year 2024 Financial Results

a record 4,042 EsoGuard tests in 4Q24, a 45% sequential and 84% annual increase

EsoGuard revenue of $1.2 million in 4Q24

sales channel generated over 20 new cash-pay concierge medicine contracts

first agreement to pay for EsoGuard under state biomarker legislation

call and webcast to be held today, March 24th at 8:30 AM EDT

YORK, March 24, 2025 - Lucid Diagnostics Inc. (Nasdaq: LUCD) ("Lucid" or the "Company") a commercial-stage,

cancer prevention medical diagnostics company, and subsidiary of PAVmed Inc. (Nasdaq: PAVM, PAVMZ) ("PAVmed"), today provided

a business update for the Company and reported financial results for the fourth quarter and full year ended December 31, 2024.

webcast will take place on Monday, March 24, 2024, at 8:30 AM and will be accessible in the investor relations section of the Company's

website at luciddx.com. Alternatively, to access the conference call by telephone, U.S.-based callers should dial 1-800-836-8184

and international listeners should dial 1-646-357-8785. All listeners should provide the operator with the conference call name "Lucid

Diagnostics Business Update" to join.

the conclusion of the conference call, a replay will be available for 30 days on the investor relations section of the Company's website

Lucid team finished 2024 on a strong note and 2025-which promises to be a pivotal year-is off to an exceptional start marked

by significant advancements in EsoGuard's commercial coverage, sales channels, and clinical evidence base," said Lishan

Aklog, M.D., Lucid's Chairman and Chief Executive Officer. "We believe we are on the cusp of achieving broader payor

coverage for EsoGuard and expect our focus on new contractually-guaranteed revenue sales channels, including concierge medicine, to drive

revenue growth in the second half of 2025. We are now well positioned to capitalize on EsoGuard's very large clinical and market

consolidated statements of operations (unaudited)

Included in general and administrative expenses in the financial statements.

Included in other income and expenses.

Stock-based compensation ("SBC") expense included in operating expenses is detailed as follows in the table below by

category within operating expenses for the non-GAAP Net operating expenses:

of GAAP Operating Expenses to Non-GAAP Net Operating Expenses

EsoGuard and EsoCheck

of patients with gastroesophageal reflux disease (GERD) are at risk of developing esophageal precancer and a highly lethal form of esophageal

cancer ("EAC"). Over 80 percent of EAC patients die within five years of diagnosis, making it the second most lethal cancer

in the U.S. The mortality rate is high even in those diagnosed with early stage EAC. The U.S. incidence of EAC has increased 500 percent

over the past four decades, while the incidences of other common cancers have declined or remained flat. In nearly all cases, EAC silently

progresses until it manifests itself with new symptoms of advanced disease. All EAC is believed to arise from esophageal precancer, which

occurs in approximately 5 percent to 15 percent of at-risk GERD patients. Early esophageal precancer can be monitored for progression

to late esophageal precancer which can be cured with endoscopic esophageal ablation, reliably halting progression to cancer.

precancer screening is already recommended by clinical practice guidelines for the millions of GERD patients with multiple risk factors,

including age over 50 years, male sex, White race, obesity, smoking history, and a family history of esophageal precancer or cancer.

Unfortunately, fewer than 10 percent of those recommended for screening undergo traditional invasive endoscopic screening. The profound

tragedy of an EAC diagnosis is that death could likely have been prevented if the at-risk GERD patient had been screened and then undergone

surveillance and curative treatment at the precancer stage.

only missing element for a viable esophageal cancer prevention program has been the lack of an easily-accessible, in-office screening

tool that can detect esophageal precancer. Lucid believes EsoGuard, performed on samples collected non-endoscopically with EsoCheck,

is the missing element - the first and only commercially available test capable of serving as a widespread screening tool to prevent

esophageal cancer deaths through the early detection of esophageal precancer in at-risk GERD patients. An updated American College of

Gastroenterology (ACG) clinical practice guideline and an American Gastroenterological Association (AGA) clinical practice update both

endorse non-endoscopic biomarker tests as an acceptable alternative to costly and invasive endoscopy for esophageal precancer screening.

EsoGuard is the only such test currently available in the United States.

is a Next Generation Sequencing (NGS) based DNA methylation assay performed on surface esophageal cells collected with EsoCheck, which

quantifies methylation at 31 sites on two genes, Vimentin (VIM) and Cyclin A1 (CCNA1). The assay was initially evaluated in a 408-patient,

multicenter, case-control study published in Science Translational Medicine and showed greater than 90 percent sensitivity and specificity

at detecting esophageal precancer and cancer.

is a CE Marked and FDA 510(k) cleared noninvasive swallowable balloon capsule catheter device capable of sampling surface esophageal

cells in a less than three-minute office procedure. It consists of a vitamin pill-sized rigid plastic capsule tethered to a thin silicone

catheter from which a soft silicone balloon with textured ridges emerges to gently swab surface esophageal cells. When vacuum suction

is applied, the balloon and sampled cells are pulled into the capsule, protecting them from contamination and dilution by cells outside

of the targeted region during device withdrawal. Lucid believes this proprietary Collect+Protect technology makes EsoCheck the

only noninvasive esophageal cell collection device capable of such anatomically targeted and protected sampling. The sample is sent by

overnight express mail to Lucid's CLIA-certified, CAP-accredited, NYS CLEP approved laboratory, LucidDx Labs, for EsoGuard testing.

Diagnostics Inc. is a commercial-stage, cancer prevention medical diagnostics company, and subsidiary of PAVmed Inc. Lucid is focused

on the millions of patients with 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 - the first and only commercially available tools designed with the goal of preventing

esophageal cancer and cancer deaths through widespread, early detection of esophageal precancer in at-risk patients.

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

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 Diagnostics'

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 Diagnostics' common stock;

general economic and market conditions; the uncertainties inherent in research and development, including the cost and time required

to advance Lucid Diagnostics' products to regulatory submission; whether regulatory authorities will be satisfied with the design of

and results from Lucid Diagnostics' clinical and preclinical studies; whether and when Lucid Diagnostics' products are cleared by regulatory

authorities; market acceptance of Lucid Diagnostics' products once cleared and commercialized; Lucid Diagnostics' ability to raise additional

funding as needed; and other competitive developments. These factors are difficult or impossible to predict accurately and many of them

are beyond Lucid Diagnostics' 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 Diagnostics' future operations,

see Part I, Item 1A, "Risk Factors," in Lucid Diagnostics' 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 Diagnostics 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.

PAVmed and Lucid Diagnostics