PAVmed Regains Compliance with Nasdaq Stockholders' Equity Requirement

Rhea-AI Summary

PAVmed (NASDAQ: PAVM, PAVMZ) has successfully regained compliance with Nasdaq Capital Market's Continued Listing Standards after receiving written notification from Nasdaq's Listing Qualifications Department on February 14, 2025. The company met the requirement of maintaining stockholders' equity of at least $2.5 million under Listing Rule 5550(b)(1).

The compliance was achieved through strategic initiatives, including the deconsolidation of Lucid Diagnostics subsidiary and restructuring of convertible debt. PAVmed will be subject to a mandatory panel monitor for one year, during which any non-compliance with stockholders' equity requirements will result in a delisting letter, requiring prompt attention and a potential new hearing.

Positive

• Regained Nasdaq listing compliance, avoiding potential delisting
• Successfully increased stockholders' equity above $2.5 million requirement
• Completed strategic restructuring of convertible debt

Negative

• Subject to one-year mandatory monitoring period with risk of immediate delisting if requirements not met
• Required deconsolidation of subsidiary Lucid Diagnostics to meet compliance

NEW YORK, Feb. 18, 2025 /PRNewswire/ -- PAVmed Inc. (NASDAQ: PAVM, PAVMZ) ("PAVmed" or the "Company"), a diversified commercial-stage medical technology company, operating in the medical device, diagnostics, and digital health sectors, today announced that on February 14, 2025, PAVmed received written notification from the Listing Qualifications Department of The Nasdaq Stock Market LLC ("Nasdaq") that the Company has regained compliance with the Nasdaq Capital Market's Continued Listing Standards for Primary Equity Securities, and its securities will continue to be listed and traded on The Nasdaq Capital Market.

The Company regained compliance under Listing Rule 5550(b)(1), which requires companies listed on the Nasdaq Capital Market to maintain stockholders' equity of at least $2,500,000. The Company achieved compliance under this rule by increasing its stockholders' equity through a series of strategic initiatives, including the deconsolidation of its subsidiary, Lucid Diagnostics, and the restructuring of its convertible debt.

As part of the compliance confirmation, PAVmed will be subject to a customary mandatory panel monitor for a period of one year from the date of the notification. If, during that time, the Company falls out of compliance with the stockholders' equity requirement, Nasdaq will issue a delisting letter, and the Company will be required to address the matter promptly, including requesting a new hearing with the same or a new Panel.

About PAVmed and its Subsidiaries

PAVmed Inc. is a diversified commercial-stage medical technology company operating in the medical device, diagnostics, and digital health sectors. Its subsidiary, Lucid Diagnostics Inc. (NASDAQ: LUCD), is a commercial-stage cancer prevention medical diagnostics company that markets the EsoGuard^® Esophageal DNA Test and EsoCheck^® Esophageal Cell Collection Device—the first and only commercial tools for widespread early detection of esophageal precancer to mitigate the risks of esophageal cancer deaths. Its other subsidiary, Veris Health Inc., is a digital health company focused on enhanced personalized cancer care through remote patient monitoring using implantable biologic sensors with wireless communication along with a custom suite of connected external devices. Veris is concurrently developing an implantable physiological monitor, designed to be implanted alongside a chemotherapy port, which will interface with the Veris Cancer Care Platform.

For more and for more information about PAVmed, please visit pavmed.com.

For more information about Lucid Diagnostics, please visit luciddx.com.

For more information about Veris Health, please visit verishealth.com. 

Forward-Looking Statements

This press release includes forward-looking statements that involve risks and uncertainties. Forward-looking statements are any statements that are not historical facts. Such forward-looking statements, which are based upon the current beliefs and expectations of PAVmed's and Lucid's management, are subject to risks and uncertainties, which could cause actual results to differ from the forward-looking statements. Risks and uncertainties that may cause such differences include, among other things, volatility in the price of PAVmed's and Lucid's common stock; PAVmed's Series Z warrants; general economic and market conditions; the uncertainties inherent in research and development, including the cost and time required to advance PAVmed's and Lucid's products to regulatory submission; whether regulatory authorities will be satisfied with the design of and results from PAVmed's and Lucid's clinical and preclinical studies; whether and when PAVmed's and Lucid's products are cleared by regulatory authorities; market acceptance of PAVmed's and Lucid's products once cleared and commercialized; PAVmed's and Lucid's ability to raise additional funding as needed; and other competitive developments. In addition, new risks and uncertainties may arise from time to time and are difficult to predict. For a further list and description of these and other important risks and uncertainties that may affect PAVmed's and Lucid's future operations, see Part I, Item 1A, "Risk Factors," in PAVmed's and Lucid's most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission, as the same may be updated in Part II, Item 1A, "Risk Factors" in any Quarterly Report on Form 10-Q filed by PAVmed or Lucid after its most recent Annual Report. PAVmed and Lucid disclaim any intention or obligation to publicly update or revise any forward-looking statement to reflect any change in its expectations or in events, conditions, or circumstances on which those expectations may be based, or that may affect the likelihood that actual results will differ from those contained in the forward-looking statements.

View original content to download multimedia:https://www.prnewswire.com/news-releases/pavmed-regains-compliance-with-nasdaq-stockholders-equity-requirement-302378874.html

SOURCE PAVmed Inc.

FAQ

What did PAVmed (PAVM) do to regain Nasdaq compliance in February 2025?

PAVmed regained compliance by increasing stockholders' equity above $2.5 million through strategic initiatives, including deconsolidating Lucid Diagnostics and restructuring convertible debt.

What are the conditions of PAVM's Nasdaq compliance monitoring period?

PAVmed will be subject to a mandatory panel monitor for one year, during which any failure to maintain stockholders' equity requirements will result in an immediate delisting letter.

What is the minimum stockholders' equity requirement for PAVM to maintain Nasdaq listing?

PAVmed must maintain a minimum stockholders' equity of $2,500,000 to comply with Nasdaq Capital Market's Listing Rule 5550(b)(1).

What strategic changes did PAVM implement to meet Nasdaq requirements?

PAVmed deconsolidated its subsidiary Lucid Diagnostics and restructured its convertible debt to increase stockholders' equity above the required threshold.