Prnewswire·2025-05-15 12:01Core Insights - PAVmed Inc. has stabilized its corporate structure and balance sheet, positioning itself to execute its strategic vision as a diversified commercial life sciences company with multiple independently-financed subsidiaries [4] - Lucid Diagnostics has recognized $0.8 million in revenue from its EsoGuard® Esophageal DNA Test for the first quarter of 2025, processing a total of 3,034 tests [5] - Veris Health has resumed development of its implantable physiological monitor and is set to launch a commercial partnership with a major cancer center [4][7] Financial Performance - PAVmed ended the first quarter of 2025 with over $40 million in pro forma cash, following stock offerings that netted approximately $30.6 million [7] - For the three months ended March 31, 2025, PAVmed reported revenues of $8,000, a significant decrease from $1,010,000 in the same period of 2024 [11] - The company incurred operating expenses of approximately $5.5 million, which included stock-based compensation expenses of $1.0 million [8] Strategic Initiatives - PAVmed is actively evaluating clinical and late preclinical stage assets to expand into the biopharma sector [4] - The company has launched a campaign targeting gastroenterologists and gained traction in cash-pay concierge medicine and employer markets [7] - An NCI-sponsored study indicated that EsoGuard effectively detects esophageal precancer in at-risk patients, potentially expanding its market opportunity [7] Subsidiary Developments - Lucid Diagnostics is focused on cancer prevention through its EsoGuard® and EsoCheck® products, which are designed for early detection of esophageal precancer [16] - Veris Health is enhancing personalized cancer care through remote patient monitoring and is developing an implantable physiological monitor to interface with its Cancer Care Platform [16]