NEW
YORK, Feb. 18, 2025 /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 on February 14,
2025, PAVmed received written notification from the Listing
Qualifications Department of The Nasdaq Stock Market LLC ("Nasdaq")
that the Company has regained compliance with the Nasdaq Capital
Market's Continued Listing Standards for Primary Equity Securities,
and its securities will continue to be listed and traded on The
Nasdaq Capital Market.
The Company regained compliance under Listing Rule 5550(b)(1),
which requires companies listed on the Nasdaq Capital Market to
maintain stockholders' equity of at least $2,500,000. The Company achieved compliance under
this rule by increasing its stockholders' equity through a series
of strategic initiatives, including the deconsolidation of its
subsidiary, Lucid Diagnostics, and the restructuring of its
convertible debt.
As part of the compliance confirmation, PAVmed will be subject
to a customary mandatory panel monitor for a period of one year
from the date of the notification. If, during that time, the
Company falls out of compliance with the stockholders' equity
requirement, Nasdaq will issue a delisting letter, and the Company
will be required to address the matter promptly, including
requesting a new hearing with the same or a new Panel.
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.
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SOURCE PAVmed Inc.
