PAVmed (PAVM) Company Report

PAVmed Inc. completed financings, raising $30 million from a Series D Convertible Preferred Stock offering and $15 million from a new senior secured note.
The proceeds were primarily used to redeem all previously outstanding convertible securities, including 16,962 shares of Series C Preferred Stock and $8,414,890 of the 2022 Senior Secured Convertible Note, through a cash payment of approximately $22,346,241.
These transactions eliminated a significant legacy capital structure overhang, materially strengthening the company's balance sheet and providing approximately $7.7 million in net cash proceeds for general working capital.
The Series D Preferred Stock is convertible into common stock at $6.50 per share, contingent on stockholder approval at a special meeting scheduled by April 30, 2026.

3 days ago

8-K

PAVmed Closes Financings, Eliminates Convertible Securities Overhang

PAVM

Debt Issuance

Convertible Preferred Issuance

PAVmed completed financings, raising $30 million from newly designated Series D Convertible Preferred Stock and an additional $15 million from a new senior secured note.
The proceeds were primarily used to redeem and retire all previously outstanding convertible securities, eliminating a significant legacy capital structure overhang.
These transactions resulted in approximately $7.7 million in net cash proceeds, materially strengthening the Company's balance sheet.
The Series D Preferred Stock is convertible into common stock at a price of $6.50 per share, subject to stockholder approval, and includes warrants exercisable for up to an additional $30 million upon publication of a positive draft EsoGuard Medicare local coverage determination.

3 days ago

Press Release

Lucid Diagnostics Awarded VA Contract for EsoGuard

PAVM

New Projects/Investments

Lucid Diagnostics Inc., a subsidiary of PAVmed Inc., was awarded a contract by the U.S. Department of Veterans Affairs (VA) for its EsoGuard® Esophageal DNA Test on January 21, 2026.
This contract will expand access to esophageal precancer testing across the VA's healthcare system, which serves more than nine million enrolled veterans annually.
The contract includes pre-negotiated pricing for EsoGuard that matches the established Medicare payment rate, enabling VA facilities nationwide to access the test through a single procurement framework.

Jan 21, 2026, 1:00 PM

Press Release

PAVmed Announces Reverse Stock Split

PAVM

Delisting/Listing Issues

Proxy Vote Outcomes

PAVmed Inc. will implement a 1-for-30 reverse stock split of its common stock, effective January 2, 2026, at 12:01 a.m. Eastern Time.
The reverse stock split is intended to ensure compliance with the $1.00 minimum bid price requirement for maintaining the company's listing on the Nasdaq Capital Market.
Stockholders approved the reverse stock split on December 5, 2025, and the specific 1-for-30 ratio was approved by the board on December 8, 2025.
Following the split, the authorized shares of Common Stock will be reduced from 250,000,000 to 25,000,000, and fractional shares will be rounded up to the nearest whole share.

Dec 30, 2025, 2:01 PM

Press Release

PAVmed Announces 1-for-30 Reverse Stock Split

PAVM

Delisting/Listing Issues

Proxy Vote Outcomes

PAVmed Inc. announced a 1-for-30 reverse stock split of its common stock, which will become effective on January 2, 2026, at 12:01 a.m. Eastern Time.
The primary purpose of the reverse stock split is to regain compliance with Nasdaq's $1.00 minimum bid price requirement for maintaining the listing of its Common Stock.
As a result of the reverse stock split, the authorized shares of Common Stock will be reduced from 250,000,000 to 25,000,000.
No fractional shares will be issued; instead, stockholders who would have received a fractional share will have it rounded up to the nearest whole share.

Dec 30, 2025, 2:00 PM

8-K

PAVmed Provides Q3 2025 Business Update, Highlights Subsidiary Progress

PAVM

Earnings

New Projects/Investments

Convertible Preferred Issuance

PAVmed is actively working to stabilize its corporate structure and balance sheet, including a debt restructuring that exchanged approximately 80% of outstanding debt for new Series C preferred equity, and is positioning itself as a diversified commercial life sciences company with independently financed subsidiaries.
Lucid Diagnostics, PAVmed's main asset, reported $1.2 million in EsoGuard revenue and over 2,800 test volumes for Q3 2025. A Medicare contractor meeting in September unanimously endorsed Medicare coverage for EsoGuard, and Lucid raised nearly $27 million in a public offering.
Veris, PAVmed's digital health company, launched the commercial phase of its strategic partnership with OSU, targeting 1,000 patients in the first year, and relaunched development of an implantable physiologic monitor with a 2026 FDA submission planned.
PAVmed announced a new licensing agreement with Duke University and UNC for an endoscopic imaging technology for esophageal precancer, which will be developed within a separate subsidiary.
For Q3 2025, PAVmed reported a non-GAAP net loss of $446,000 and a cash burn rate of $900,000.

Nov 13, 2025, 1:30 PM

Transcript

PAVmed Provides Q3 2025 Business Update, Highlights Subsidiary Progress and Restructuring Efforts

PAVM

Earnings

New Projects/Investments

Convertible Preferred Issuance

PAVmed is actively restructuring its debt and balance sheet, aiming to operate as a diversified commercial life sciences company with independently financed subsidiaries.
Lucid Diagnostics, in which PAVmed holds a 23% ownership and 28% voting interest, reported $1.2 million in EsoGuard revenue and 2,800 test volumes for Q3 2025. A significant highlight was the unanimous endorsement for Medicare coverage of EsoGuard by a Medicare contractor meeting in September, and Lucid secured $27 million in capital for runway through 2026.
Veris launched the commercial phase of its partnership with OSU and is advancing the development of an implantable physiologic monitor with a 2026 FDA submission planned, fully funded through commercial launch. PAVmed also reported a Q3 2025 non-GAAP loss of $446,000, primarily due to $500,000 in contractor development costs for the Veris implantable device, with a cash burn rate of $900,000.
PAVmed is expanding its portfolio with new investments, including an endoscopic imaging technology licensed from Duke University and UNC, which will be developed in a separate subsidiary with a planned 510(k) FDA submission.

Nov 13, 2025, 1:30 PM

Transcript

PAVmed Reports Q3 2025 Results and Strategic Progress

PAVM

Earnings

New Projects/Investments

Product Launch

PAVmed is nearing completion of its corporate restructuring and debt stabilization efforts, aiming to position the company for growth with independently financed subsidiaries.
Lucid Diagnostics reported $1.2 million in EsoGuard revenue and over 2,800 test volumes for Q3 2025, consistent with targets, and secured $27 million in capital, extending its runway through 2026. The company is also close to securing Medicare coverage for EsoGuard.
Veris launched the commercial phase of its partnership with OSU, targeting 1,000 patients in the first year, and relaunched development of its implantable physiologic monitor for a 2026 FDA submission, with sufficient capital.
PAVmed is pursuing new technologies, including a licensing agreement for an endoscopic imaging technology for esophageal precancer with Duke University and UNC, which will be advanced through a new subsidiary.
For Q3 2025, PAVmed reported a GAAP net loss of $6 million and a Non-GAAP loss of $446,000, with a cash burn rate of $900,000. PAVmed retains a 23% ownership stake in Lucid Diagnostics.

Nov 13, 2025, 1:30 PM

Transcript

PAVmed Reports Q3 2025 Results, Highlights EsoGuard Progress and Capital Raise

PAVM

Earnings

New Projects/Investments

Lucid Diagnostics' EsoGuard generated $1.2 million in revenue from 2,841 test volumes in Q3 2025, following a unanimous endorsement for Medicare coverage by the MoIDX Contractor Advisory Committee in September.
PAVmed reported a Net Loss of $(6.011) million for Q3 2025, a significant change from the $60.711 million net income in Q3 2024.
The Non-GAAP Adjusted Loss per Share improved to $(0.02) in Q3 2025, compared to $(0.54) in Q3 2024.
The company strengthened its balance sheet by netting approximately $27.0 million in proceeds from an underwritten public offering of common stock.
Veris Health launched the commercial phase of its strategic partnership with OSU and is developing an implantable physiological monitor for a planned 2026 FDA 510(k) submission.

Nov 13, 2025, 1:30 PM

Presentation

PAVmed Reports Q3 2025 Financial Results and Business Update

PAVM

Earnings

Product Launch

New Projects/Investments

For the third quarter ended September 30, 2025, PAVmed Inc. reported a GAAP net loss attributable to common stockholders of approximately $6.3 million, or $(0.29) per common share on a diluted basis, and a non-GAAP adjusted loss of approximately $0.4 million, or $(0.02) per common share. The company's cash and cash equivalents were $3.1 million as of September 30, 2025.
Subsidiary Veris Health launched the commercial phase of its strategic partnership with The Ohio State University James Cancer Hospital and relaunched development of its implantable physiological monitor for a planned 2026 FDA 510(k) submission.
PAVmed also signed a letter of intent to license groundbreaking endoscopic esophageal imaging technology.
Lucid Diagnostics, another subsidiary, recognized $1.2 million in EsoGuard® Esophageal DNA Test revenue for Q3 2025 and strengthened its balance sheet with approximately $27.0 million in net proceeds from a public offering.