PAVmed(PAVM) - 2024 Q4 - Annual Results

Financial Performance - Lucid Diagnostics recognized $1.2 million in EsoGuard Esophageal DNA Test revenue for Q4 2024, with a record of 4,042 tests processed, representing a 45$3.2 million post-deconsolidation, reflected in Other Income [10]. - PAVmed's operating expenses for Q4 2024 were approximately $5.2 million, including stock-based compensation expenses of$0.7 million [10]. - GAAP net income attributable to common stockholders for Q4 2024 was approximately $1.3 million, or approximately$0.12 per common share on a diluted basis [10]. - Non-GAAP adjusted loss for Q4 2024 was approximately $0.7 million, or$(0.06) per common share [10]. - PAVmed's cash and cash equivalents as of December 31, 2024, were $1.2 million, projected to be approximately$3.6 million post-private placement [10]. Market Position and Product Development - The updated NCCN Clinical Practice Guidelines now include a section on esophageal precancer screening, enhancing EsoGuard's market position [6]. - An $8 million NIH grant was awarded to study EsoGuard for expanded indications, potentially increasing the total addressable market opportunity beyond$60 billion [6]. - Lucid Diagnostics markets the EsoGuard Esophageal DNA Test and EsoCheck Esophageal Cell Collection Device, the first tools for early detection of esophageal precancer [14]. - Veris Health secured approximately $2.4 million in private placement financing to advance the implantable physiological monitor through FDA clearance and commercial launch [6]. - Veris Health is developing an implantable physiological monitor to enhance personalized cancer care through remote patient monitoring [14]. Compliance and Regulatory Matters - PAVmed regained compliance with Nasdaq minimum bid price requirement, adding approximately$25 million to equity in Q1 2025 through debt restructuring [7]. - The company emphasizes the importance of regulatory authorities' satisfaction with clinical study designs and results for product clearance [18]. Risks and Challenges - PAVmed's future operations are subject to risks including stock price volatility, regulatory approval uncertainties, and market acceptance of its products [18]. - The company may face challenges in raising additional funding as needed for product development and commercialization [18]. - PAVmed and Lucid's management holds forward-looking statements that may differ from actual results due to various uncertainties [18]. - PAVmed and Lucid disclaim any obligation to publicly update or revise forward-looking statements based on changing expectations [18]. Contact Information - For more information, investors and media can contact Matt Riley at PAVmed and Lucid Diagnostics [19].