Pavmed Stock Price, News & Analysis

PAVmed Inc. (Nasdaq: PAVM, PAVMZ) reported significant advancements despite COVID-19 challenges. Key achievements include a preliminary CMS payment determination for EsoGuard™, FDA clearance for the CarpX™ device, and the launch of both products. The company expanded its commercial management team, activated clinical trials for EsoGuard, and secured funding of approximately $10.6 million. Financially, PAVmed experienced a GAAP net loss of $5.6 million for Q2 2020. Upcoming activities focus on commercial expansion and clinical trial progress.

PAVmed Inc. (PAVM) announced it has raised approximately $7 million through a private placement of Senior Convertible Promissory Notes. This financing will bolster the company's commercial and regulatory activities, particularly in relation to its EsoGuard and CarpX products, as well as funding ongoing clinical trials. The financing was led by an existing institutional investor with a conversion price of $5.00 per share. The company focuses on innovative medical devices and has a diverse product pipeline addressing various clinical needs.

PAVmed Inc. (Nasdaq: PAVM, PAVMZ) announced that Chief Commercial Officer Shaun O’Neil will participate in a panel on July 16, 2020, discussing the company's response to COVID-19 challenges and commercialization of its products, EsoGuard™ and CarpX™. PAVmed is a multi-product medical device company utilizing a unique business model to advance its pipeline efficiently. The company focuses on unmet medical needs across various clinical areas, with an emphasis on regulatory pathways and market opportunities.

PAVmed Inc. (Nasdaq: PAVM) will join the small-cap Russell 2000 and broad-market Russell 3000 indexes effective June 29, 2020, as part of their annual reconstitution. This inclusion is expected to enhance PAVmed's visibility among investors and reflects the company's growth and shareholder value increase. The Russell indexes serve as critical benchmarks for approximately $9 trillion in assets, indicating PAVmed's strengthened market position. The company focuses on a diverse product pipeline aimed at addressing unmet clinical needs.

PAVmed Inc. (Nasdaq: PAVM) announced that Stanley Lapidus, a pioneer in medical diagnostics, has joined its subsidiary Lucid Diagnostics as a Strategic Advisor. His experience in early cancer detection is expected to enhance the commercialization of Lucid's EsoGuard and EsoCheck technologies. EsoGuard aims to significantly improve the diagnosis of Barrett’s Esophagus and esophageal cancer. Lapidus brings over 30 years of expertise, having led companies like Exact Sciences and Cytyc. This collaboration aims to expedite Lucid's clinical trials and regulatory strategies.

PAVmed Inc. (Nasdaq: PAVM, PAVMZ) announced that its subsidiary, Lucid Diagnostics, received a preliminary payment determination for the EsoGuard™ Esophageal DNA Test. The U.S. CMS indicated a recommended payment of $1,938.01 in 38 states and $2,690 in 12 states for EsoGuard, effective from January 1, 2021, through December 31, 2023. This noninvasive test aids in diagnosing Barrett’s Esophagus, a precursor to esophageal cancer. The payment determination is open for public comments until August 10, 2020, with finalization to follow.

PAVmed Inc. (Nasdaq: PAVM) announced a letter of intent with Canon Virginia to manufacture molded resorbable pediatric ear tubes using aqueous silk fibroin. This collaboration aims to develop commercial-grade processes for the DisappEAR tubes, expected to revolutionize treatment for children undergoing ear tube placement, a common surgery in the U.S. Canon's advanced manufacturing capabilities will support efficient production, ultimately benefiting up to one million affected children annually.

PAVmed Inc. (PAVM) reported preliminary financial results for Q1 2020, revealing a GAAP net loss of approximately $14.5 million, or $(0.33) per share, with non-GAAP adjusted loss of $4.5 million, or $(0.10) per share. The company secured FDA marketing clearance for its CarpX™ device and initiated clinical trials for its EsoGuard™/EsoCheck™ diagnostics. Despite challenges from the Covid-19 pandemic, PAVmed's activities remain on track with key developments in its product lineup and ongoing trials, alongside an increase in cash reserves to $8.7 million as of March 31, 2020.

PAVmed Inc. (Nasdaq: PAVM, PAVMZ) will hold a business update conference call on May 21, 2020, at 4:30 PM ET. CEO Lishan Aklog and CFO Dennis McGrath will discuss the company's Q1 2020 financial results and upcoming milestones. PAVmed is known for its innovative medical device solutions across various fields, including GI health and minimally invasive interventions. The company leverages a unique business model for rapid product commercialization. Live access to the call is available via phone or webcast on its investor relations website.