PAVmed Inc

PAVmed reported a GAAP net loss attributable to PAVmed of $5.5 million, or $0.87 per share, for the second quarter of 2026, while advancing regulatory and commercial milestones across its Veris Health, Lucid Diagnostics, and medical device segments. The company's non-GAAP adjusted loss was $1.7 million, or $0.27 per share, excluding $900,000 in stock-based compensation and other noncash adjustments. Revenue was $33,000 for the quarter, though pro forma income including management fees and Veris revenue exceeded $3 million. Lucid Diagnostics revenue was $1.5 million, driven by the processing of 2,770 EsoGuard tests. Cash balance was $3.8 million as of June 30, not including potential proceeds from $32.5 million in callable warrants linked to regulatory milestones. The company also issued $30 million in warrants now convertible into common stock, which are callable by the company upon publication of a positive EsoGuard LCD. PAVmed is targeting an early 2027 FDA 510(k) submission for its Veris implantable physiologic monitor, with design freeze scheduled for August 2026. PortIO first-in-human study results showed 100% device patency and 90% implant duration completion in 10 patients, and the company plans to request an FDA meeting in the fourth quarter to discuss a potential 510(k) pathway. Octeris IRB approval is expected in October 2026 for clinical validation work at the University of North Carolina.