Spectral AI meets Nasdaq compliance amid industry scrutiny

In the United States on December 23, 2024, Lucid Diagnostics Inc., a cancer prevention medical diagnostics company, announced that it received a notification from the Nasdaq regarding its listing compliance. The notification confirms that the company has been granted a 180-day extension to meet the $1.00 minimum bid price requirement set under Nasdaq Listing Rule 5550(a)(2). This extension allows Lucid until June 16, 2025, to maintain a closing bid price of at least $1.00 per share for ten consecutive business days to regain compliance. Lucid Diagnostics focuses on patients with gastroesophageal reflux disease (GERD) who are at risk of developing esophageal precancer and cancer. Their flagship product, the EsoGuard® Esophageal DNA Test, is designed to facilitate early detection of esophageal precancer, potentially preventing cancer-related deaths. The company, a subsidiary of PAVmed Inc., has been actively monitoring its stock price to adhere to Nasdaq’s requirements. In addition to the compliance issues faced by Lucid, Spectral AI, another company operating in the same market, has recently confirmed that it remains compliant with Nasdaq's listing requirements. This is particularly crucial for maintaining investor trust and ensuring continued financial backing. The contrast between the two cases highlights the varying challenges companies endure on the stock market while striving for compliance and sustainable growth. For Lucid Diagnostics, regaining compliance is imperative not only for maintaining stock market presence but also for fostering growth and innovation in their innovative cancer prevention technologies. Management emphasizes the importance of actively monitoring their stock price and taking measures to cure the deficiency. By doing so, they aim to reassure stakeholders of their commitment to addressing the listing standard and advancing their mission in cancer prevention.