PAVmed Provides Business Update and Reports First Quarter 2025 Financial Results

About this update from Lucid Diagnostics Inc.

Lucid secured capital to extend runway well past key upcoming reimbursement milestones; ended 1Q25 with over $40 million in proforma cash Veris Health completed 1Q25 financing, resumed development of implantable physiological monitor, and will soon launch first commercial partnership with major cancer center PAVmed seeking to leverage infrastructure and expand into biopharma sector; actively evaluating clinical and late preclinical stage assets Conference call and webcast to be held today, May 15 th , at 8:30 AM EDT NEW YORK , May 15, 2025 /PRNewswire/ -- PAVmed Inc.  (NASDAQ: PAVM) ("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 reported financial results for the quarter ended March 31, 2025 . Conference Call and Webcast The webcast will take place on Thursday, May 15, 2025 , at 8:30 AM and is accessible in 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. Following 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. Business Update Highlights "PAVmed, having stabilized its corporate structure and balance sheet, is well positioned to aggressively execute its strategic vision as a diversified commercial life sciences company with multiple independently-financed subsidiaries operating under a shared services model," said Lishan Aklog , M.D. , PAVmed's Chairman and Chief Executive Officer. "Both Lucid and Veris are now well-capitalized through key upcoming milestones, and we expect PAVmed to directly benefit from their success. We have an established track record of seeking value throughout the life sciences sector, initially expanding from medical devices into diagnostics with Lucid, and then into digital health with Veris.   We now see a significant opportunity to leverage PAVmed's infrastructure and further diversify its portfolio into the biopharma sector.  We are actively evaluating attractive clinical and late preclinical-stage assets and hope to launch a subsidiary in this sector in the near future." Highlights from the first quarter and recent weeks : Lucid Diagnostics ( link  to press release) recognized $0.8 million in EsoGuard ® Esophageal DNA Test revenue for 1Q25 and processed 3,034 EsoGuard tests. Financial Results : PAVmed Non-GAAP Measures   About PAVmed and its Subsidiaries PAVmed Inc. is a diversified commercial-stage medical technology company operating in the medical device, diagnostics, and digital health sectors. Its 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 widespread early detection of esophageal precancer to mitigate the risks of esophageal cancer deaths. Its other 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. For more and for more information about PAVmed, please visit  pavmed.com . For more information about Lucid Diagnostics, please visit  luciddx.com . For more information about Veris Health, please visit  verishealth.com . Forward-Looking Statements This press release includes forward-looking statements that involve risks and uncertainties. Forward-looking statements are any statements that are not historical facts. Such forward-looking statements, which are based upon the current beliefs and expectations of PAVmed's and Lucid's management, are subject to risks and uncertainties, which could cause actual results to differ from the forward-looking statements. Risks and uncertainties that may cause such differences include, among other things, volatility in the price of PAVmed's and Lucid's common stock; PAVmed's Series Z warrants; general economic and market conditions; the uncertainties inherent in research and development, including the cost and time required to advance PAVmed's and Lucid's products to regulatory submission; whether regulatory authorities will be satisfied with the design of and results from PAVmed's and Lucid's clinical and preclinical studies; whether and when PAVmed's and Lucid's products are cleared by regulatory authorities; market acceptance of PAVmed's and Lucid's products once cleared and commercialized; PAVmed's and Lucid's ability to raise additional funding as needed; and other competitive developments. In addition, new risks and uncertainties may arise from time to time and are difficult to predict. For a further list and description of these and other important risks and uncertainties that may affect PAVmed's and Lucid's future operations, see Part I, Item 1A, "Risk Factors," in PAVmed's and Lucid's most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission, as the same may be updated in Part II, Item 1A, "Risk Factors" in any Quarterly Report on Form 10-Q filed by PAVmed or Lucid after its most recent Annual Report. PAVmed and Lucid disclaim any intention or obligation to publicly update or revise any forward-looking statement to reflect any change in its expectations or in events, conditions, or circumstances on which those expectations may be based, or that may affect the likelihood that actual results will differ from those contained in the forward-looking statements.   View original content to download multimedia: https://www.prnewswire.com/news-releases/pavmed-provides-business-update-and-reports-first-quarter-2025-financial-results-302456538.html SOURCE PAVmed Inc.

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