PAVmed(PAVM) - 2025 Q3 - Quarterly Results

Financial Performance - Lucid Diagnostics recognized $1.2 million in EsoGuard Esophageal DNA Test revenue for Q3 2025, processing 2,841 EsoGuard tests[5] - PAVmed's operating expenses for Q3 2025 were approximately $4.8 million, including stock-based compensation expenses of $0.4 million[9] - The GAAP net loss attributable to common stockholders for Q3 2025 was approximately $6.3 million, or $(0.29) per common share on a diluted basis[9] - Non-GAAP adjusted loss for Q3 2025 was approximately $0.4 million, or $(0.02) per common share[9] Cash and Funding - PAVmed had cash and cash equivalents of $3.1 million as of September 30, 2025, compared to $1.2 million as of December 31, 2024[9] - PAVmed strengthened its balance sheet with a public offering of common stock, netting approximately $27.0 million in proceeds[5] - The ability to secure additional funding as needed is essential for ongoing operations and product development[17] Strategic Partnerships and Innovations - Veris Health launched the commercial phase of its strategic partnership with The Ohio State University James Cancer Hospital, advancing the deployment of the Veris Cancer Care Platform[5] - The company signed a letter of intent with Duke University to license groundbreaking endoscopic esophageal imaging technology, adding a potential growth engine to its innovation pipeline[4] - Veris Health is preparing for a planned 2026 FDA 510(k) submission for its implantable physiological monitor[5] Market Potential and Challenges - Medicare Contractor Advisory Committee unanimously supported Medicare coverage for EsoGuard, indicating strong market potential[5] - PAVmed and Lucid's management acknowledges risks and uncertainties that could impact future results, including stock price volatility and market conditions[17] - The companies face challenges in research and development, particularly regarding the costs and timelines for regulatory submissions[17] - Regulatory authorities' satisfaction with clinical and preclinical study designs and results is crucial for product clearance[17] - Market acceptance of PAVmed and Lucid's products post-clearance is a significant factor for future success[17] - New risks and uncertainties may emerge, complicating future predictions[17]