Pavmed Stock Price, News & Analysis

Lucid Diagnostics Inc. has completed its initial public offering (IPO) on October 18, 2021, selling 5,000,000 shares at $14.00 each, raising $70 million in gross proceeds. The underwriters hold a 30-day option for an additional 750,000 shares. Lucid, a cancer prevention diagnostics company, focuses on gastroesophageal disease (GERD) patients at risk of esophageal cancer. Its EsoGuard® test is the first non-invasive diagnostic tool for early detection of esophageal precancer in at-risk patients. Cantor and Canaccord Genuity are joint book-running managers for the offering.

Lucid Diagnostics Inc. has announced the pricing of its initial public offering (IPO) of 5 million shares at $14.00 per share, aiming to raise $70 million before expenses. The IPO will launch on October 14, 2021, and is expected to close on or around October 18, 2021. The underwriters have a 30-day option to purchase an additional 750,000 shares. Lucid, a subsidiary of PAVmed Inc., focuses on cancer prevention, particularly for patients suffering from gastroesophageal disease at risk of esophageal cancer, using its EsoGuard® diagnostic test.

PAVmed Inc. announced that a wholly owned subsidiary has signed a purchase agreement for CapNostics, LLC, maker of the EsophaCap® device, which is FDA-cleared and CE Mark certified for non-endoscopic esophageal cell collection. This acquisition aims to enhance PAVmed's portfolio in early detection and monitoring of esophageal diseases, particularly esophageal precancer. The deal includes a long-term consulting agreement with Martin Von Dyck, the owner of CapNostics, and a manufacturing agreement with its contract manufacturer. This strategic move is expected to drive shareholder value.

PAVmed Inc. (Nasdaq: PAVM, PAVMZ) announced a virtual investor event on October 26, 2021, from 1 to 3 PM EDT, focused on its digital health subsidiary, Veris Health. The event will showcase Veris’ innovative technology aimed at enhancing cancer care through remote monitoring and data analytics. Panelists include executives from PAVmed and the Stanford Cancer Institute. Veris seeks FDA clearance for its intelligent implantable vascular access port, targeting a launch for H2 2022. The event includes a Q&A session for participant engagement.

PAVmed Inc. (Nasdaq: PAVM, PAVMZ) recently announced that its subsidiary, Lucid Diagnostics Inc., has filed a Form S-1 registration with the SEC for a proposed initial public offering of its common stock. The offering details, including the number of shares and price range, are yet to be determined. Lucid intends to list on Nasdaq under the ticker 'LUCD.' Cantor Fitzgerald & Co. and Canaccord Genuity LLC will manage the offering, with BTIG, LLC and Needham & Co., LLC as co-managers. This offering aims to bolster Lucid’s market presence and product development.

PAVmed Inc. (Nasdaq: PAVM, PAVMZ) announced that its subsidiary Veris Health Inc. has joined Microsoft for Startups, gaining access to advanced technology and support to expedite its remote digital healthcare platform focused on cancer care. Veris is collaborating with Loka Inc. for platform development on Microsoft Azure, integrating AI and IoT for better patient monitoring. Veris aims for FDA clearance of its intelligent implantable vascular access port by H2-2022, enhancing data-driven patient care and optimizing treatment outcomes.

PAVmed Inc. (Nasdaq: PAVM, PAVMZ) has announced its participation in three prominent conferences: the Lake Street Capital Market's Best Ideas Growth Conference on September 14, 2021, the Cantor Fitzgerald Virtual Global Healthcare Conference on September 30, 2021, and The MedTech Conference on September 30, 2021. The presentations will highlight PAVmed's diversified medical technology pipeline, which aims to address unmet clinical needs. For detailed information, visit the company's website.

PAVmed reported a business update highlighting progress in its subsidiary, Lucid Diagnostics, for Q2 2021. Lucid conducted 202 EsoGuard tests, a 110% increase sequentially, and partnered with UpScriptHealth for telemedicine support. Lucid also received CE Mark certification for its EsoCheck and EsoGuard devices, enhancing marketability in Europe. Financially, PAVmed incurred a GAAP net loss of approximately $11.5 million, or $(0.14) per share, while cash reserves increased to $43.2 million. The company's strategic initiatives aim for long-term growth and shareholder value enhancement.

PAVmed Inc. (Nasdaq: PAVM, PAVMZ) announced the launch of three Lucid Test Centers in Phoenix for testing patients with gastroesophageal reflux disease (GERD). This initiative aims to enhance EsoGuard commercialization and target primary care physicians (PCPs) for early detection of esophageal precancer. The centers utilize the EsoCheck device for a rapid, non-invasive procedure. A single nurse practitioner can conduct up to twenty tests daily. Lucid plans to expand the program across Western U.S. states, operating modestly with fixed costs and margins.