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. 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 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.