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PAVmed Receives 180-Day Extension to Regain Compliance with Nasdaq Minimum Bid Price Requirement
NEW YORK, June 28, 2023 /PRNewswire/ -- PAVmed Inc. (NASDAQ: PAVM, PAVMZ) ("PAVmed" or the "Company"), a diversified commercial-stage medical technology
About this update from Pavmed Inc.
[{"type":"text","content":"NEW YORK, June 28, 2023 /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 announced that it received a written notice (the \"Extension Notice\") from the Nasdaq Stock Market LLC (\"Nasdaq\") granting the Company a 180-day extension to regain compliance with Nasdaq's $1.00 minimum bid price requirement as set forth in Nasdaq Listing Rule 5550(a)(2) (the \"Rule\"). The Company was first notified by Nasdaq on December 29, 2022, and originally was given until June 27, 2023, to regain compliance. The Company now has until December 26, 2023, to meet the requirement.\n\n \n \n \n \n \n \n\n \nThe Extension Notice has no immediate effect on the listing of the Company's common stock or Series Z warrants, which will continue to trade uninterrupted under the symbols \"PAVM\" and \"PAVMZ\", respectively.\nTo regain compliance with the Rule, the Company must maintain a closing bid price of at least $1.00 per share for a minimum of ten consecutive business days during the 180-day extension period. The Company will continue to monitor the closing bid price of its common shares between now and the end of the extension period and intends to take all appropriate actions to cure the deficiency and regain compliance with the Rule prior to the end of the compliance period.\nAbout PAVmed and its Subsidiaries\nPAVmed Inc. is a diversified commercial-stage medical technology company operating in the medical device, diagnostics, and digital health sectors. Its majority-owned subsidiary, Veris Health Inc., is a digital health company focused on enhanced personalized cancer care through remote patient monitoring using implantable biologic sensors with wireless communication along with a custom suite of connected external devices. Veris is concurrently developing an implantable physiological monitor, designed to be implanted alongside a chemotherapy port, which will interface with the Veris Cancer Care Platform. Its other majority-owned subsidiary, Lucid Diagnostics Inc. (NASDAQ: LUCD), is a commercial-stage cancer prevention medical diagnostics company that markets the EsoGuard® Esophageal DNA Test and EsoCheck® Esophageal Cell Collection Device—the first and only commercial tools for w...