PAVmed Inc. - PAVM STOCK NEWS

PAVmed Inc. (Nasdaq: PAVM, PAVMZ) reports significant growth in Lucid Diagnostics' EsoGuard test volume, achieving a 60% sequential increase in Q2 2022 with 850 tests. This marks a 300% annual increase. Lucid plans to launch its Veris Health Cancer Care Platform this year, while expanding its sales team and regional presence. However, financial results reflect challenges, including a GAAP net loss of approximately $25.5 million and no recorded EsoGuard revenues. Cash reserves decreased to $65.2 million. The company continues developing its product pipeline with FDA submissions expected in 2023.

Lucid Diagnostics Inc. (Nasdaq: LUCD) reported a substantial increase in EsoGuard test volume, achieving 60% growth quarter-over-quarter and over 300% year-over-year. The company’s CLIA-Certified LucidDx Labs is now fully operational and billing independently. Operating expenses for Q2 2022 were approximately $14.6 million resulting in a net loss of $14.6 million or $(0.41) per share. Despite no recognized revenue for the 850 tests processed, Lucid continues to expand its sales team and has initiated new Lucid Test Centers in key metropolitan areas.

Lucid Diagnostics has expanded its services by launching four new Lucid Test Centers in Orange County, Dallas-Fort Worth, Palm Beach County, and Columbus, Ohio. These centers will offer a non-invasive test to detect esophageal precancer in patients with chronic heartburn, utilizing the EsoGuard DNA Esophageal Test and EsoCheck device. With a projected opening of nine new centers this year, Lucid aims to enhance its national footprint and accessibility to early cancer detection. The company emphasizes that early detection can significantly reduce the risk of progressing to fatal esophageal cancer.

Lucid Diagnostics Inc. (NASDAQ: LUCD) announced significant updates to its esophageal precancer screening guidelines, as endorsed by the American Gastroenterological Association (AGA). These updates expand the target population for EsoGuard screening, now including at-risk patients without chronic heartburn symptoms. The update emphasizes non-invasive methods, highlighting EsoCheck as a viable alternative to traditional endoscopy. The AGA's endorsement comes amid rising esophageal cancer rates, furthering the need for accessible screening tools.

PAVmed Inc. (NASDAQ: PAVM, PAVMZ) will hold a business update conference call on August 16, 2022, at 4:30 PM EDT. CEO Lishan Aklog will review company operations and growth strategies, while CFO Dennis McGrath will present the second-quarter financial results. The call can be accessed via phone or webcast through the company's website. PAVmed is a diversified medical technology company, with its subsidiary Lucid Diagnostics focusing on cancer prevention diagnostics with products like EsoGuard® and EsoCheck®.

Lucid Diagnostics Inc. (Nasdaq: LUCD) has expanded its reach by entering into agreements with three preferred provider organizations (PPOs) and a specialized laboratory network. These agreements provide in-network access to Lucid's EsoGuard® DNA test, aimed at early detection of esophageal precancer, to millions of covered lives. The company emphasizes its goal of securing broad commercial reimbursement for EsoGuard testing, which is crucial for its growth strategy. This innovative test addresses a significant healthcare need, with esophageal cancer having a high mortality rate.

Lucid Diagnostics Inc. (Nasdaq: LUCD), a cancer prevention medical diagnostics company, will host a business update conference call on August 15, 2022, at 4:30 PM EDT. CEO Lishan Aklog will present the company's near-term milestones and growth strategy, while CFO Dennis McGrath will discuss Q2 2022 financial results. The call can be accessed via phone or webcast on Lucid's investor relations page. Lucid focuses on early detection of esophageal precancer in GERD patients, leveraging its EsoGuard® test and EsoCheck® device.

PAVmed Inc. (NASDAQ: PAVM, PAVMZ) announced that its CEO, Dr. Lishan Aklog, was recognized as one of the Most Influential Black Executives in Corporate America for 2022 by Savoy. This acknowledgment highlights his leadership and contributions in the medical technology sector, including advancements in diagnostics and digital health. Dr. Aklog expressed gratitude for the honor and emphasized his commitment to leveraging technology for patient care.

Lucid Diagnostics, a cancer prevention diagnostics company, announces that Dr. Lishan Aklog will present at the CG 42nd Annual Growth Conference from August 8-11 at the InterContinental Boston. His presentation is scheduled for August 11 from 12:30 pm to 12:55 pm ET. Additionally, Dr. Aklog will participate in 1x1 investor meetings at the 7th Annual Needham Med Tech & Diagnostics 1x1 Conference on August 15-16. Lucid specializes in diagnostics for patients with GERD, using its EsoGuard and EsoCheck products for cancer prevention.