Welcome to our dedicated page for Pavmed news (Ticker: PAVM), a resource for investors and traders seeking the latest updates and insights on Pavmed stock.
PAVmed Inc. (PAVM) is a commercial-stage medical technology leader driving innovation in diagnostic testing, medical devices, and digital health solutions. This dedicated news hub provides investors and industry professionals with timely updates on corporate developments, clinical milestones, and strategic initiatives shaping the future of preventive care technologies.
Access official press releases, earnings reports, and regulatory filings in one centralized location. Our curated collection features updates on product commercialization progress, FDA clearances, and partnership announcements, enabling stakeholders to track the company’s execution of its rapid concept-to-market strategy across multiple healthcare sectors.
Key content categories include financial performance updates, new product launches, clinical study results, and executive leadership developments. The resource is particularly valuable for monitoring advancements in PAVmed’s flagship diagnostic tools like the EsoGuard test and digital health platforms through subsidiary Veris Health.
Bookmark this page for streamlined access to verified information directly from corporate communications. Check regularly for updates on PAVmed’s progress in commercializing technologies designed to improve early disease detection and patient care delivery.
Lucid Diagnostics Inc. announced the publication of a Future Effective Local Coverage Determination (LCD) by the MolDX Program, effective May 14, 2023. This foundational LCD establishes coverage criteria for molecular testing of esophageal precancer and cancer for Medicare beneficiaries. Lucid plans to submit its EsoGuard Esophageal DNA Test for Technical Assessment under this LCD by the end of 2023, aiming to provide non-invasive testing alternatives to traditional endoscopy. The LCD incorporates feedback from stakeholders and aligns with the American College of Gastroenterology's guidelines, emphasizing early detection to prevent esophageal cancer deaths.
PAVmed Inc. (NASDAQ: PAVM, PAVMZ) announced a business update and financial results for the year ended December 31, 2022. The company's restructuring plan has extended its cash runway, securing $24.6 million financing for Lucid Diagnostics, which is expected to last into 2024. Veris Health launched its Cancer Care Platform, enhancing patient monitoring. EsoGuard testing volume is growing, with recent agreements increasing access to up to 60 million consumers through MultiPlan. However, 2022 revenues were just $0.4 million, with a net loss of $89.2 million.
Lucid Diagnostics (NASDAQ: LUCD) reported significant growth in EsoGuard® test volumes, with 4Q22 showing an 8% sequential increase and a remarkable 288% year-over-year rise. The company anticipates 1Q23 to reflect approximately 1,600 tests, marking a 36% sequential and 300% annual growth. A strategic in-network agreement with MultiPlan broadens access to EsoGuard for 60 million consumers. Additionally, Lucid secured $24.6 million in financing through preferred stock and debt offerings, enhancing its cash runway into 2024 while focusing on commercial execution. Despite these positives, revenues remain low, with 4Q22 revenues at $0.1 million, and a net loss of $14.9 million reported.
PAVmed Inc. (NASDAQ: PAVM, PAVMZ) announces a business update conference call scheduled for March 15, 2023, at 8:30 AM EST. CEO Lishan Aklog and CFO Dennis McGrath will discuss the company's growth strategy and report on the fourth-quarter 2022 financial results. Investors can access the webcast on the company's investor relations website or join via telephone with specific dial-in information provided. PAVmed operates in medical technology, with its subsidiaries, Lucid Diagnostics (NASDAQ: LUCD) and Veris Health, focusing on innovative cancer diagnostics and personalized cancer care, respectively.
Lucid Diagnostics Inc. (NASDAQ: LUCD), a cancer prevention medical diagnostics company, will host a business update conference call on March 14, 2023, at 8:30 AM EST. The call will include insights from CEO Lishan Aklog, M.D., about the company's operations and growth strategy, alongside a discussion on fourth-quarter 2022 financial results by CFO Dennis McGrath. Investors can access the call via telephone or through a webcast available on the company's website. Lucid focuses on patients with gastroesophageal reflux disease (GERD), offering the EsoGuard® Esophageal DNA Test and EsoCheck® collection device as tools for early detection of esophageal cancer.
PAVmed Inc. has launched its Veris Cancer Care Platform (Veris CCP) following the onboarding of its first cohort of cancer patients. This platform enhances personalized cancer care through remote patient monitoring (RPM) using VerisBox™ devices and a patient smartphone app. The platform allows patients to transmit real-time physiological data and report symptoms to their healthcare team via a cloud-based clinician portal, which also enables billing for RPM services. CEO Lishan Aklog expressed optimism about delivering recurring revenue through the software-as-a-service model. Veris Health, PAVmed's subsidiary, aims to expand its offerings and improve patient care.
On February 15, 2023, Lucid Diagnostics (NASDAQ: LUCD) announced the successful completion of its first #CheckYourFoodTube Precancer Testing Event in collaboration with the San Antonio Fire Department. The event aimed at detecting esophageal precancer in nearly 400 at-risk firefighters, with 391 participating. The EsoGuard Esophageal DNA Test was employed, showing potential to detect precancerous changes early. Lucid aims to expand its satellite testing centers in support of National Cancer Prevention Month, emphasizing the importance of early detection in preventing esophageal cancer, particularly among those with increased risks, such as firefighters.
PAVmed Inc. (Nasdaq: PAVM, PAVMZ) has announced a strategic update focusing on the near-term commercialization of its subsidiaries, Lucid Diagnostics and Veris Health. The company is implementing a workforce reduction of approximately 20% and other cost-cutting measures to decrease quarterly cash burn by at least 25%. PAVmed aims to streamline operations and concentrate resources on products with significant market potential, such as Lucid's EsoGuard and Veris' Cancer Care Platform. The esoGuard test targets an addressable market of around $60 billion and aims to increase testing volume through enhanced engagement with healthcare providers.
PAVmed Inc. (NASDAQ: PAVM, PAVMZ) and Lucid Diagnostics Inc. (NASDAQ: LUCD) announced a joint conference call on January 17, 2023, at 4:30 PM EDT to provide a strategic business update. The call aims to outline planned refinements to their business strategies as they work to commercialize leading products targeting cancer prevention. Interested parties can join by calling designated numbers or accessing the live stream on their respective investor relations websites. A replay will also be available for one week post-call.
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