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PAVmed Inc. reports recurring business updates as a diversified commercial-stage medical technology company operating across medical devices, diagnostics and digital health. Company updates commonly address financial results, capital-structure actions, medical device portfolio development and subsidiary activity.
News also covers Lucid Diagnostics, PAVmed's commercial-stage cancer prevention diagnostics subsidiary, including EsoGuard Esophageal DNA Test and EsoCheck Esophageal Cell Collection Device activity for patients at risk of esophageal precancer and cancer. Other recurring subjects include Veris Health digital health programs, the Veris Cancer Care Platform, implantable physiological monitor development and PAVmed's endoscopic esophageal imaging technology through Octeris.
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.
PAVmed (Nasdaq: PAVM, PAVMZ) announced that Dr. Lishan Aklog, Chairman and CEO, will present a corporate update at the 41st Annual Canaccord Genuity Growth Conference on August 11, 2021, at 5:00 PM EDT. Investors can access the live webcast here. A replay will be available on the PAVmed website.
PAVmed focuses on innovative medical technologies, with products for early detection of esophageal cancer and minimally invasive interventions.
PAVmed Inc. (Nasdaq: PAVM, PAVMZ) announced that Aster Angagaw has joined the Board of Directors of its subsidiary, Lucid Diagnostics. Angagaw brings extensive experience in healthcare and business transformation, previously serving prominent roles at Owens & Minor and ServiceMaster Brands. PAVmed's chairman, Lishan Aklog, emphasized her expertise will enhance Lucid's growth strategy in precancer screening technologies. This appointment is expected to strengthen Lucid's leadership as it aims for long-term expansion.
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PAVmed Inc. (Nasdaq: PAVM, PAVMZ) announced a business update conference call scheduled for August 12, 2021, at 4:30 PM EDT. CEO Lishan Aklog will discuss near-term milestones and the growth strategy, while CFO Dennis McGrath will present the second quarter 2021 financial results. Interested parties can join by phone or via webcast on the company’s website. PAVmed focuses on developing differentiated medical technologies, addressing unmet needs across several clinical areas, with subsidiaries such as Lucid Diagnostics and Veris Health.
PAVmed Inc. (Nasdaq: PAVM, PAVMZ) has appointed medical diagnostics pioneer Stanley N. Lapidus as Vice Chairman of its subsidiary, Lucid Diagnostics Inc. Lapidus, a former CEO of Exact Sciences, is known for his contributions to early cancer detection technologies. He aims to promote the EsoGuard test for early detection of esophageal cancer. PAVmed's management highlights Lapidus’s strategic input in ongoing initiatives, reinforcing Lucid's long-term growth plans. PAVmed continues to innovate with a broad product pipeline targeting unmet clinical needs.
PAVmed Inc. (Nasdaq: PAVM, PAVMZ) announced a partnership through its subsidiary, Lucid Diagnostics Inc., with UpScriptHealth to launch the EsoGuard Telemedicine Program. This program aims to provide chronic heartburn patients with remote evaluations and referrals for the EsoGuard Esophageal DNA Test. Initially launching in Arizona, the program is expected to expand nationwide, enhancing patient access to early detection of esophageal cancer. CEO Lishan Aklog emphasizes the significance of addressing healthcare gaps and promoting awareness regarding chronic heartburn's link to esophageal cancer.
PAVmed Inc. (Nasdaq: PAVM, PAVMZ) appoints Tim Baxter, former President of Samsung Electronics North America, to its Board of Directors, enhancing its leadership with a seasoned technology expert. Baxter, who will chair the Nomination Committee, brings extensive experience in innovation and business strategy, with a focus on technology integration in healthcare. Concurrently, David Battleman and David Weild IV are stepping down from the Board. This change aims to leverage Baxter's expertise to drive growth through PAVmed's digital health initiatives and products aimed at improving patient care.
PAVmed Inc. (Nasdaq: PAVM, PAVMZ) announced the completion of European IVDD CE Mark certification for its EsoGuard® Esophageal DNA Test through its subsidiary, Lucid Diagnostics Inc. This certification allows EsoGuard to be marketed across CE Mark European nations, including the EU and Switzerland. EsoGuard is the first molecular diagnostic test for early detection of esophageal precancer and cancer, proving highly accurate in a study of 408 patients. PAVmed's CEO anticipates Europe as a significant market due to the prevalence of chronic heartburn and esophageal cancer.