Business
PAVmed Provides Business Update and Fourth Quarter and Full Year 2023 Financial Results
Lucid's quarterly revenue increased 33 percent sequentially Launched wholly-owned incubator, PMX, to complete development and commercialization of existing
About this update from Pavmed Inc.
[{"type":"text","content":"Lucid's quarterly revenue increased 33 percent sequentially\nLaunched wholly-owned incubator, PMX, to complete development and commercialization of existing portfolio technologies\nConference call and webcast to be held tomorrow, March 27th at 8:30 AM ET\nNEW YORK, March 26, 2024 /PRNewswire/ -- PAVmed Inc. (Nasdaq: PAVM, PAVMZ) (\"PAVmed\" or the \"Company\"), a diversified commercial-stage medical technology company, operating in the medical device, diagnostics, and digital health sectors, today provided a business update for the Company and its subsidiaries, Lucid Diagnostics Inc. (Nasdaq: LUCD) (\"Lucid\") and Veris Health Inc. (\"Veris\"), and presented financial results for the year ended December 31, 2023.\n\n \n \n \n \n \n \n\n \nConference Call and Webcast\nThe webcast will be available at the investor relations section of the Company's website at pavmed.com. Alternatively, to access the conference call by telephone, U.S.-based callers should dial 1-800-836-8184 and international listeners should dial 1-646-357-8785. All listeners should provide the operator with the conference call name \"PAVmed Business Update\" to join.\nFollowing the conclusion of the conference call, a replay will be available for 30 days on the investor relations section of the Company's website at pavmed.com.\nBusiness Update Highlights\n\"We are very pleased by Lucid's sustained ability to translate commercial activity into revenue and revenue growth, which has enabled it to remain independently financeable despite challenging market conditions,\" said Lishan Aklog, M.D., PAVmed's Chairman and Chief Executive Officer. \"PAVmed has revised its overall strategy to drive shareholder value through independently financed subsidiaries, much like we have done with Lucid. In light of this strategic shift, we have concluded that Veris's best opportunity for independent financing lies with a focus on large academic and regional cancer centers. We are finalizing contract negotiations with our first such target in an otherwise robust pipeline. Similarly, the recently-announced launch of our PMX incubator and partnership with Hatch Medical to finance, develop, and commercialize our existing portfolio technologies aligns with this revised strategy. Finally, consistent with this revised strategy, we remain extremely active in seeking out groundbreaking, indep...