PAVmed Shares Climb Following Earnings Surpass
PAVmed Inc. (NASDAQ: PAVM), a diversified medical device company, experienced a notable surge in its stock price after outperforming earnings expectations.
Highlights:
PAVmed’s Q4 Non-GAAP EPS of -$1.33 surpassed estimates by $0.47, with revenue climbing to $1.05 million, indicating a substantial year-over-year increase.
Year-end cash and equivalents stood at $19.6 million, down from $39.7 million, reflecting strategic investments and operational expenditures.
Lucid Diagnostics showcased robust growth with a 33% sequential revenue increase, driven by the EsoGuard product’s performance.
The launch of the PMX incubator and strategic efforts to secure independent financing highlight PAVmed’s pivot towards enhancing shareholder value through focused subsidiary development and commercialization.
PAVmed closed as the leader of the PRISM MedDevices Index with shares up 32%.
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 majority-owned subsidiary, Lucid Diagnostics, 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 majority-owned subsidiary, Veris Health Inc., is a digital health company whose lead product is a digital cancer care platform with physiologic data collection, symptom reporting and telehealth functions, designed to improve personalized cancer care through remote patient monitoring. Veris has also been developing an implantable physiological monitor, designed to be implanted alongside a chemotherapy port, which will interface with the Veris cancer care platform.
