PART I FINANCIAL INFORMATION [Unaudited Condensed Consolidated Financial Statements](index=4&type=section&id=Item%201%20Unaudited%20Condensed%20Consolidated%20Financial%20Statements) Despite no revenue and increased net loss from higher operating expenses, the company significantly strengthened its balance sheet with cash increasing to **$43.2 million** and equity turning positive to **$42.0 million** through financing and debt repayment [Condensed Consolidated Balance Sheets](index=4&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) Condensed Consolidated Balance Sheet Highlights (in thousands) | Account | June 30, 2021 | December 31, 2020 | | :--- | :--- | :--- | | **Assets** | | | | Cash | $43,210 | $17,256 | | Total current assets | $46,336 | $18,941 | | **Total assets** | **$47,371** | **$19,778** | | **Liabilities & Equity** | | | | Total liabilities | $5,331 | $20,251 | | Total Stockholders' Equity (Deficit) | $42,040 | $(473) | | **Total Liabilities and Stockholders' Equity** | **$47,371** | **$19,778** | - The company's financial position improved significantly, with **cash increasing by 150%** and **total liabilities decreasing by 74%** from Dec 31, 2020 to June 30, 2021, primarily driven by the repayment of all senior convertible notes[10](index=10&type=chunk) [Condensed Consolidated Statements of Operations](index=5&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations) - The company generated **no revenue** in the three and six months ended June 30, 2021 and 2020[13](index=13&type=chunk) Operating Results Highlights (in thousands, except per share data) | Metric | Q2 2021 | Q2 2020 | 6 Months 2021 | 6 Months 2020 | | :--- | :--- | :--- | :--- | :--- | | Total operating expenses | $12,970 | $5,014 | $21,046 | $10,268 | | Loss from operations | $(12,970) | $(5,014) | $(21,046) | $(10,268) | | Net loss attributable to PAVmed Inc. | $(11,471) | $(5,578) | $(20,902) | $(20,053) | | Net loss per share (basic and diluted) | $(0.14) | $(0.12) | $(0.27) | $(0.45) | - Operating expenses **more than doubled in Q2 2021** compared to Q2 2020, driven by increases in commercial operations, general and administrative, and research and development activities[13](index=13&type=chunk) [Condensed Consolidated Statements of Cash Flows](index=10&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Cash Flow Highlights for the Six Months Ended June 30 (in thousands) | Cash Flow Activity | 2021 | 2020 | | :--- | :--- | :--- | | Net cash used in operating activities | $(15,796) | $(9,346) | | Net cash used in investing activities | $(204) | $(44) | | Net cash provided by financing activities | $41,954 | $10,251 | | **Net increase in cash** | **$25,954** | **$861** | | **Cash, end of period** | **$43,210** | **$7,080** | - Financing activities in the first six months of 2021 provided **$42.0 million in net cash**, primarily from registered common stock offerings (**$55.0 million**) and warrant exercises (**$2.8 million**), which was partially offset by the repayment of convertible notes (**$14.8 million**)[23](index=23&type=chunk) [Notes to Unaudited Condensed Consolidated Financial Statements](index=11&type=section&id=Notes%20to%20Unaudited%20Condensed%20Consolidated%20Financial%20Statements) - On May 28, 2021, the company's subsidiary Veris Health Inc. acquired Oncodisc Inc. for total consideration of approximately **$261k**, accounted for as an asset acquisition with **$133k** allocated to in-process R&D and expensed immediately[44](index=44&type=chunk) - All outstanding convertible notes were fully repaid during Q1 2021, with the November 2019 note settled with stock and the April 2020 and August 2020 notes repaid with cash totaling **$14.8 million**[57](index=57&type=chunk)[58](index=58&type=chunk)[62](index=62&type=chunk) - A **$300k PPP loan** received in April 2020 was fully forgiven in June 2021, resulting in a **gain of $300k**[66](index=66&type=chunk) - Consolidated stock-based compensation expense increased significantly to **$6.6 million** for the six months ended June 30, 2021, up from **$0.9 million** in the same period of 2020, largely due to new restricted stock awards granted under the Lucid Diagnostics Inc. 2018 Equity Plan[80](index=80&type=chunk)[75](index=75&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=31&type=section&id=Item%202%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses the company's transition to a commercial-stage entity with a multi-product pipeline, noting sharply increased operating expenses, and significantly improved liquidity to **$43.2 million** in cash, sufficient for at least one year [Overview of Business and Products](index=32&type=section&id=Overview%20of%20Business%20and%20Products) - PAVmed operates as a multi-product, commercial-stage medical device company with five lines of business: GI Health, Minimally Invasive Interventions, Infusion Therapy, Digital Health, and Emerging Innovations[109](index=109&type=chunk)[117](index=117&type=chunk) - Key commercial products include EsoGuard/EsoCheck for esophageal cancer screening and CarpX for carpal tunnel syndrome, both receiving European CE Mark certification in May 2021, expanding market access[112](index=112&type=chunk)[129](index=129&type=chunk) - The company is expanding its commercialization strategy for EsoGuard by targeting primary care physicians (PCPs) and establishing Lucid Test Centers, with the first three opened in Phoenix, AZ[120](index=120&type=chunk) - In May 2021, the company formed a new majority-owned subsidiary, Veris Health Inc., which acquired Oncodisc Inc. to enter the digital health market with an intelligent implantable vascular access port for remote patient monitoring in cancer care[112](index=112&type=chunk)[136](index=136&type=chunk) [Results of Operations Comparison](index=39&type=section&id=Results%20of%20Operations%20Comparison) Comparison of Operating Expenses (in millions) | Expense Category | Q2 2021 | Q2 2020 | 6 Months 2021 | 6 Months 2020 | | :--- | :--- | :--- | :--- | :--- | | Commercial operations | $2.0 | $0.5 | $3.4 | $0.8 | | General and administrative | $6.7 | $2.4 | $10.1 | $4.7 | | Research and development | $4.3 | $2.1 | $7.6 | $4.7 | - The increase in Commercial operations expenses was driven by higher staffing for sales and marketing and increased consulting fees[157](index=157&type=chunk)[163](index=163&type=chunk) - General and administrative expenses rose primarily due to increased staffing levels and higher stock-based compensation[158](index=158&type=chunk)[164](index=164&type=chunk) - Research and development costs increased due to higher development and consulting fees for key projects including CarpX, NextFlo, PortIO, EsoCure, and digital health initiatives[158](index=158&type=chunk)[164](index=164&type=chunk) - In H1 2021, the company recognized a **$3.7 million loss** from debt extinguishment related to the full repayment of its convertible notes and a **$0.3 million gain** from the forgiveness of its PPP loan[168](index=168&type=chunk)[165](index=165&type=chunk) [Liquidity and Capital Resources](index=43&type=section&id=Liquidity%20and%20Capital%20Resources) - The company had **$43.2 million in cash** as of June 30, 2021, and expects this to be sufficient to fund operations for at least one year[172](index=172&type=chunk) - In the first six months of 2021, the company raised approximately **$57.8 million in gross proceeds** from two registered direct offerings of common stock and the exercise of Series Z Warrants[173](index=173&type=chunk)[174](index=174&type=chunk)[175](index=175&type=chunk) - During H1 2021, the company used a portion of its cash to repay in-full all outstanding principal balances of its convertible notes[173](index=173&type=chunk)[176](index=176&type=chunk) [Controls and Procedures](index=44&type=section&id=Item%204%20Controls%20and%20Procedures) Management concluded the company's disclosure controls and procedures were effective as of June 30, 2021, with no material changes to internal control over financial reporting during the quarter - Management concluded that disclosure controls and procedures were effective as of June 30, 2021[179](index=179&type=chunk) - No changes occurred during the fiscal period ended June 30, 2021, that materially affected, or are reasonably likely to materially affect, the company's internal control over financial reporting[180](index=180&type=chunk) PART II OTHER INFORMATION [Legal Proceedings](index=45&type=section&id=Item%201%20Legal%20Proceedings) The company is involved in two legal proceedings: a stockholder complaint pending non-monetary settlement and a **$1.3 million** damages claim from Benchmark Investments, Inc. which it plans to contest - A stockholder complaint filed in November 2020 regarding the counting of broker non-votes at the July 2020 Annual Meeting is pending settlement, subject to court approval and not contemplating monetary damages[46](index=46&type=chunk)[182](index=182&type=chunk) - Benchmark Investments, Inc. filed a complaint in December 2020 seeking up to **$1.3 million** in damages related to registered direct offerings, which the company disagrees with and plans to contest vigorously[47](index=47&type=chunk)[182](index=182&type=chunk) [Other Information](index=45&type=section&id=Item%205%20Other%20Information) This section reports no other information - None[184](index=184&type=chunk) [Exhibits](index=45&type=section&id=Item%206%20Exhibits) This section lists the exhibits filed as part of the Quarterly Report on Form 10-Q, including certifications by the Principal Executive Officer and Principal Financial Officer - The exhibits filed with this Form 10-Q are listed in the Exhibit Index[184](index=184&type=chunk)

PAVmed Inc. (NASDAQ:PAVM) Q2 2021 Earnings Conference Call August 12, 2021 4:30 PM ET Company Participants Mike Havrilla - Director of IR Lishan Aklog - Chairman and CEO Dennis McGrath - President and CFO Conference Call Participants Frank Takkinen - Lake Street Capital Ed Woo - Ascendiant Capital Markets Jeremy Pearlman - Maxim Group Operator Greetings, and welcome to the PAVmed Inc. Business Update Conference call. At this time, all participants are in a listen-only mode. A question-and-answer session wil ...

PAVmed Inc. (NASDAQ:PAVM) Q1 2021 Earnings Conference Call May 17, 2021 4:30 PM ET Company Participants Mike Havrilla - Director of Investor Relations Lishan Aklog - Chairman & Chief Executive Officer Dennis McGrath - President & Chief Financial Officer Conference Call Participants Kyle Mikson - Cantor Fitzgerald Frank Takkinen - Lake Street Capital Markets Anthony Vendetti - Maxim Group Ed Woo - Ascendiant Capital Frank Ibarra - IbarMax, LLC Operator Greetings, and welcome to the PAVmed Inc. Business Updat ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 10-Q (Mark One) [X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended MARCH 31, 2021 OR [ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from______ to______ Commission File Number: 001-37685 PAVmed Inc. (Exact Name of Registrant as Specified in Its Charter) Delaware 47-1214177 (State or Other Juri ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 10-K (Mark One) [X] ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2020 OR [ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____ to _____ Commission File Number: 001-37685 PAVMED INC. (Exact Name of Registrant as Specified in Its Charter) Delaware 47-1214177 (State or Other Jurisdict ...

PAVmed Inc. (NASDAQ:PAVM) Business Update and Preliminary Q4 2020 Conference Call February 22, 2021 8:30 AM ET Company Participants Mike Havrilla – Director-Investor Relations Lishan Aklog – Chairman and Chief Executive Officer Dennis McGrath – President and Chief Financial Officer Stanley Lapidus – Strategic Advisor-Lucid Diagnostics Conference Call Participants Frank Takkinen – Lake Street Capital Markets Anthony Vendetti – Maxim Group Ed Woo – Ascendiant Capital Operator Greetings, and welcome to PAVmed ...

PAVmed, Inc. (NASDAQ:PAVM) Q3 2020 Earnings Conference Call November 17, 2020 4:30 PM ET Company Participants Mike Havrilla – Director-Investor Relations Lishan Aklog – Chairman and Chief Executive Officer Dennis McGrath – President and Chief Financial Officer Conference Call Participants Frank Takkinen – Lake Street Capital Markets Anthony Vendetti – Maxim Group Ed Woo – Ascendiant Capital Operator Greetings, and welcome to the PAVmed, Inc. Business Update Conference Call. [Operator Instructions] As a remi ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 10-Q (Mark One) [X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended SEPTEMBER 30, 2020 OR [ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from______ to______ Commission File Number: 001-37685 PAVmed Inc. (Exact Name of Registrant as Specified in Its Charter) Delaware 47-1214177 (State or Other ...

彩PAVmed THCARE CONFERENCE Corporate Overview LISHAN AKLOG, MD Chairman & CEO September 15, 2020 Nasdaq: PAVM, PAVMZ Disclaimers This presentation contains certain forward-looking statements that involve risks and uncertainties. • Actual results and events may differ significantly from results and events discussed in forward-looking statements. • Factors that might cause or contribute to such differences include, but are not limited to, those discussed in "Risk Factors" in our Annual Report on Form 10-K and ...

PAVmed Inc. (NASDAQ:PAVM) Q2 2020 Earnings Conference Call August 18, 2020 4:30 PM ET Company Participants Mike Havrilla - Director of Investor Relations Lishan Aklog - Chairman and Chief Executive Officer Dennis McGrath - President and Chief Financial Officer Conference Call Participants Anthony Vendetti - Maxim Group Operator Greetings and welcome to the PAVmed Incorporated Business Update Conference Call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow ...