Business
PAVmed Reports Preliminary First Quarter 2020 Financial Results and Provides Business Update
Conference call to be held today at 4:30 p.m. Eastern time NEW YORK, May 21, 2020 (GLOBE NEWSWIRE) -- PAVmed Inc. (Nasdaq: PAVM, PAVMZ) (the “Company” or
About this update from Pavmed Inc.
[{"type":"text","content":"Conference call to be held today at 4:30 p.m. Eastern time\n NEW YORK, May 21, 2020 (GLOBE NEWSWIRE) -- PAVmed Inc. (Nasdaq: PAVM, PAVMZ) (the “Company” or “PAVmed”), a highly differentiated, multiproduct medical device company, today reported preliminary financial results for the three months ended March 31, 2020 and provided a business update. “We have continued to aggressively advance our strategic plan during the first quarter and recent weeks, including securing marketing clearance for our CarpX™ device,” said Lishan Aklog, M.D., PAVmed’s Chairman and Chief Executive Officer. “Our team has successfully confronted the challenges of the Covid-19 pandemic with minimal short-term and no anticipated long-term disruptions to our activities. We are encouraged that medical facilities are beginning to re-open with elective procedures restarting and look forward to achieving important milestones and accelerating commercial activities in the coming months.” RECENT ACCOMPLISHMENTS The Company received 510(k) marketing clearance from the U.S. Food and Drug Administration (FDA) for its CarpX™ minimally invasive carpal tunnel device. PAVmed successfully recruited and engaged a CarpX™ National Sales Manager with over 20 years of commercial experience in the orthopedic space. The Company’s majority-owned subsidiary Lucid Diagnostics (“Lucid”) enrolled its first three patients in its international multi-center IVD clinical trials (ESOGUARD-BE-1 and 2) comparing EsoGuard™/EsoCheck™ to endoscopy. These trials include over 60 sites in the U.S. and Europe. Nicholas J. Shaheen MD, MPH, Professor and Chief of the Division of Gastroenterology and Hepatology at UNC HealthCare, and lead author of the most recent American College of Gastroenterology (ACG) guidelines, serves as principal investigator of both trials. Lucid submitted its final insurance reimbursement payment dossier to Medicare contractor Palmetto GBA and its molecular diagnostics program Mol Dx. The Company successfully completed an acute animal study of a working prototype of its EsoCure™ Esophageal Ablation Device, a disposable single-use thermal balloon ablation catheter designed to use its patented Caldus Technology to treat dysplastic Barrett’s Esophagus (BE) before it can progress to highly lethal esophageal cancer and to do so without the need for complex and expensive capital eq...