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. (Nasdaq: PAVM) is a cutting-edge medical device company focused on bringing innovative medical technologies from concept to commercialization with exceptional speed and efficiency. Headquartered in New York, PAVmed is led by three seasoned medical device entrepreneurs. The company is structured to develop and commercialize a diversified pipeline of breakthrough products that address unmet clinical needs, thereby enhancing and accelerating value creation through a business model centered on capital and time efficiency.
PAVmed operates in a single segment as a medical technology company, with three primary lines of business: Diagnostics, Medical Devices, and Digital Health. Through its majority-owned subsidiary, Lucid Diagnostics Inc. (Nasdaq: LUCD), the company offers products such as the EsoGuard Esophageal DNA Test and the EsoCheck Esophageal Cell Collection Device. These tools are designed for the early detection of esophageal precancer, aiming to prevent esophageal cancer by identifying at-risk patients early.
Another significant subsidiary is Veris Health Inc., which focuses on enhanced personalized cancer care through remote patient monitoring. Veris is developing an innovative implantable physiological monitor that interfaces with the Veris Cancer Care Platform, providing real-time health data to improve patient outcomes.
Recent notable achievements include a partnership between Lucid Diagnostics and the Esophageal Cancer Action Network (ECAN) to promote Esophageal Cancer Awareness Month, highlighting the critical link between chronic heartburn and esophageal cancer. Additionally, Lucid has published positive data from a National Cancer Institute-sponsored clinical validation study, which demonstrated EsoGuard's unprecedented early detection capabilities for esophageal precancer compared to traditional endoscopic methods.
PAVmed's commitment to innovation is further exemplified by its business updates and financial results discussions, providing shareholders and potential investors with transparent insights into the company's operational progress and strategic direction. The company's diversified approach in the medical technology sector positions it as a significant player in advancing healthcare and improving patient outcomes.
Lucid Diagnostics (LUCD) has submitted a clinical evidence package to MolDX seeking Medicare coverage for its EsoGuard® Esophageal DNA Test. The submission includes six new peer-reviewed publications, comprising three clinical validation studies, two clinical utility studies, and one analytical validation study. The package supports a Request for Reconsideration of Local Coverage Determination (LCD) L39256, aiming to secure Medicare coverage for EsoGuard testing. The company believes the data demonstrates strong clinical validity, utility, and analytical accuracy, particularly highlighting EsoGuard's precancer detection performance across all studies.
Lucid Diagnostics (Nasdaq: LUCD), a cancer prevention medical diagnostics company and PAVmed subsidiary, announced its upcoming presentation at the Canaccord Genuity MedTech, Diagnostics and Digital Health & Services Forum in New York. The presentation is scheduled for Thursday, November 21, 2024, at 1:30 p.m. ET.
Investors can access both live and replay webcasts through the company's investor relations website at ir.luciddx.com. The webcast recording will remain available for a minimum of 30 days following the event.
PAVmed reported key developments in Q3 2024, including record quarterly EsoGuard® revenue of $1.2M, representing a 20% sequential increase. Lucid performed 2,787 commercial EsoGuard tests in Q3, with October seeing a record 1,400+ tests. The company completed Lucid's deconsolidation and is finalizing debt restructuring to maintain Nasdaq listing compliance. PAVmed reported Q3 operating expenses of $12.6M and GAAP net income of $64.3M. Cash position stood at $0.8M as of September 30, 2024, compared to $19.6M at end of 2023.
Lucid Diagnostics reported Q3 2024 financial results with EsoGuard® revenue of $1.2M, showing a 20% sequential increase from Q2 and 50% annual growth. The company performed 2,787 commercial EsoGuard tests in Q3, with October setting a single-month record of over 1,400 tests. Operating expenses were $12.9M, resulting in a GAAP net loss of $12.4M or $(0.25) per share. Cash position stood at $14.5M as of September 30, 2024. The company has secured agreements for $21.75M in Senior Secured Convertible Notes and expects to increase its cash runway by approximately $13.2M after redemption of existing notes.
Lucid Diagnostics (NASDAQ: LUCD) announced the acceptance of its ESOGUARD BE-1 study manuscript for publication in The American Journal of Gastroenterology. The study, led by Dr. Nicholas J. Shaheen, validates the EsoGuard® Esophageal DNA Test performance in detecting esophageal precancer. The test demonstrated approximately 88% sensitivity and 99% negative predictive value, with 81% specificity and 30% positive predictive value. This fourth clinical validation publication completes Lucid's evidence package for Medicare coverage submission. The multicenter study was conducted across leading U.S. and European medical centers, showing strong performance in screening populations with no serious adverse events reported.
Lucid Diagnostics (LUCD) announces expansion of its direct contracting initiative to drive near-term revenue for its EsoGuard® Esophageal DNA Test. The company is focusing on three main programs: fully-contracted #CheckYourFoodTube Precancer Testing Events, Concierge Medicine, and Employer Markets. To support these initiatives, Lucid has hired two experienced professionals from GRAIL, Inc. The company recently completed its first major directly-contracted testing event with Fort Worth Fire Department, where 200 firefighters received EsoGuard testing. The expansion targets self-insured entities, concierge medicine practices, and employer-funded health plans through strategic partnerships and broker networks.
PAVmed (Nasdaq: PAVM, PAVMZ), a commercial-stage medical technology company, has announced a business update conference call and webcast scheduled for November 14, 2024, at 8:30 AM ET. During the call, Chairman and CEO Lishan Aklog, M.D., will discuss company operations and growth strategy, while President and CFO Dennis McGrath will present third quarter 2024 financial results.
U.S. callers can join via 1-800-836-8184, while international participants should dial 1-646-357-8785. The webcast will be accessible through the company's investor relations website at pavmed.com, with a 30-day replay available afterward.
Lucid Diagnostics (Nasdaq: LUCD), a cancer prevention medical diagnostics company and PAVmed subsidiary, announces a business update conference call and webcast scheduled for November 13, 2024, at 8:30 AM ET. Chairman and CEO Lishan Aklog will provide operational updates and growth strategy insights, while CFO Dennis McGrath will present Q3 2024 financial results.
The webcast will be accessible through the company's investor relations website at luciddx.com. U.S. callers can dial 1-800-836-8184, and international callers 1-646-357-8785, referencing 'Lucid Diagnostics Business Update' to join. A 30-day replay will be available on the company website afterward.
Lucid Diagnostics Inc. (Nasdaq: LUCD) has received a Notice of Allowance from the USPTO for a patent application covering its proprietary method of using methylation of the cyclin-A1 (CCNA1) gene to detect esophageal precancer and cancer. This patent strengthens Lucid's intellectual property portfolio and protects a key component of its EsoGuard® Esophageal DNA Test.
EsoGuard uses next-generation sequencing to assess DNA methylation at 31 sites on two genes, vimentin (VIM) and CCNA1. The association of CCNA1 methylation with esophageal neoplasia is novel and appears to be more specific than VIM methylation. The technology behind EsoGuard and the EsoCheck® Esophageal Cell Collection Device was developed at Case Western Reserve University, with Lucid holding the exclusive worldwide license to commercialize it.
PAVmed's subsidiary, Veris Health, has been awarded a $1.8 million grant from the National Institute on Minority Health and Health Disparities (NIMHD), part of the National Institutes of Health (NIH). The two-year grant will fund research to optimize and validate the Veris Cancer Care Platform for medically underserved cancer patients, in partnership with an academic cancer center.
The research project, titled 'Bridging the Gap: Enhancing Cancer Care for Underserved Populations with the Veris Health Cancer Care Platform,' will focus on patients facing language barriers, access to technology, and socioeconomic disparities. This non-dilutive funding comes at a important time for Veris as it pursues financing to advance its commercial strategy, including regulatory clearance and launch of its implantable physiological monitor.
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