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.
PAVmed Inc. (Nasdaq: PAVM, PAVMZ) announced it has fully retired its outstanding convertible debt using $14.5 million from a recent common stock offering. This decision is significant as it eliminates a notable financial liability and may improve the company's balance sheet. PAVmed operates as a multi-product medical device company with a focus on innovation in various clinical areas. Their diverse pipeline encompasses products across GI health, minimally invasive interventions, infusion therapy, and emerging innovations.
PAVmed Inc. (Nasdaq: PAVM, PAVMZ) announced that Dr. Lishan Aklog, the Company's Chairman and CEO, has been appointed to the Board of Directors of the Advanced Medical Technology Association (AdvaMed). This appointment highlights Dr. Aklog's leadership and experience in the medical technology field. AdvaMed is a leading trade association focused on advancing medical technology and improving healthcare. Dr. Aklog expressed honor at joining the Board during a transformative time for the industry, aiming to advocate for ethical standards and access to innovative medical technologies.
PAVmed Inc. (Nasdaq: PAVM, PAVMZ) has successfully closed its underwritten public offering of approximately 9.8 million common shares, raising about $45 million in gross proceeds. The funds will primarily be used to repay outstanding debts, including convertible notes, with the remainder allocated for working capital and corporate purposes. The offering was facilitated by Cantor Fitzgerald & Co., with additional participation from Lake Street Capital Markets and Maxim Group. The underwriter also holds a 30-day option to purchase up to 1.5 million extra shares.
PAVmed Inc. (Nasdaq: PAVM, PAVMZ) has announced a public offering of approximately 9.8 million shares, aiming to generate about $45 million in gross proceeds. The offering is set to close around February 25, 2021, pending customary conditions. Proceeds will be used primarily to repay outstanding debt and for working capital. Cantor Fitzgerald & Co. serves as the lead manager, with options for underwriters to purchase an additional 1.5 million shares. The offering is made under an effective SEC registration statement, with pricing based on the market's last reported price of $5.55 per share.
PAVmed Inc. (Nasdaq: PAVM, PAVMZ) has initiated a public offering of its common stock, with a possible 30-day option for underwriters to purchase an additional 15% of the offering. The offering aims to repay the company's outstanding debt, including convertible notes, and fund working capital. The offering is conducted under a shelf registration statement effective since September 17, 2020, with Cantor Fitzgerald & Co. as the sole book-running manager. The final terms will be disclosed in a subsequent prospectus supplement.
PAVmed Inc. (Nasdaq: PAVM, PAVMZ) announced a strategic spin-off of its subsidiary Lucid Diagnostics, aiming to enhance its commercial potential through an IPO or SPAC merger. This decision follows a robust financial position bolstered by raising over $30 million, which supports Lucid's new multi-channel commercialization initiative for the EsoGuard Esophageal DNA Test. Key highlights include a strengthened sales team and a rebound in EsoGuard testing volume, although challenges remain with ongoing clinical studies and insurance coverage determinations.
PAVmed Inc. (Nasdaq: PAVM, PAVMZ) announced a change in the time of its business update conference call to 8:30 AM EST on February 22, 2021. The call will feature Stanley Lapidus, a medical diagnostics pioneer, along with PAVmed's CEO Lishan Aklog and CFO Dennis McGrath. Mr. McGrath will provide a financial update, while Dr. Aklog will discuss Lucid Diagnostics' growth strategy. PAVmed is focused on innovative medical devices, aiming for rapid commercialization and addressing critical clinical needs across various divisions.
PAVmed Inc. (Nasdaq: PAVM, PAVMZ) announced the successful U.S. patient procedure using its CarpX device for carpal tunnel release, a significant advancement in minimally invasive surgery. Unlike traditional methods with longer recovery times, the patient returned to work as a truck driver within one week. The company aims to reduce overall healthcare costs and treat more patients suffering from carpal tunnel syndrome, with the CarpX device offering a market opportunity estimated at $1 billion in the U.S. This commercial launch marks a critical step in establishing CarpX as a new standard of care.
PAVmed Inc. (Nasdaq: PAVM, PAVMZ) announced a business update conference call on February 22, 2021, at 4:30 p.m. ET. CEO Lishan Aklog will present the company's growth strategy and milestones, while CFO Dennis McGrath will discuss Q4 2020 financial results. Interested listeners can access the call via phone or webcast. PAVmed is a multi-product, commercial-stage medical device company with a diverse pipeline addressing unmet clinical needs across various sectors.
PAVmed Inc. (Nasdaq: PAVM, PAVMZ) has closed a registered direct offering of 6 million shares at $2.24 each, generating approximately $12.4 million in net proceeds. These funds will be allocated for working capital, general corporate purposes, and to repay part of the company’s outstanding convertible notes. The offering was conducted under a shelf registration statement and was facilitated by Maxim Group LLC as the sole placement agent.
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