PAVmed Inc. Q3 FY2025 earnings call

• Stabilization efforts: Over the past 18 months, PAVmed has been stabilizing its corporate structure and balance sheet, including debt restructuring earlier in the year with more steps to come. - Lucid: On the cusp of Medicare coverage with successful Medicare contractor meeting in September, raised capital in the past quarter with sufficient runway for commercialization once coverage is secured. - Veris: Launched commercial phase of OSU partnership, finalizing EHR integration, relaunched implantable device development with new vendors, and planning to expand commercial offering with clinical support team and AI-based decision tools.

Lucid: EsoGuard revenue was $1.2 million for the quarter with tests just over 2,800, in line with last quarter. Veris: Launched commercial phase of strategic partnership with OSU, working on implantable device development with an FDA submission planned for next year, and looking to expand commercial offering with value-added clinical support services and AI-based tools.

• Intention to complete remaining restructuring steps in the near future to position PAVmed as a well-positioned diversified commercial life sciences company with multiple independently financed subsidiaries. - Continue building the portfolio beyond current major commercial subsidiaries and pursue promising assets in the life science sector.

• Factors that could cause actual results to differ from forward-looking statements, as described in SEC filings and Part 1, Item 1A of most recent annual reports, including risks from market conditions, regulatory approvals, and capital access.

Q: Could you talk about where you exactly are with the implantable monitor and any other clinical steps necessary?

A: The implantable device development was relaunched with a new partner, with development work unrelated to OSU partnership. It involves preclinical requirements, biocompatibility, packaging, and a small skin study required for FDA submission.

Q: Is it too early to start having commercialization conversations with other cancer centers?

A: Yes, we've shifted strategy to start having commercialization conversations with other centers, offering value-added services like clinical support teams and AI-based tools even before the implantable is cleared.

Q: About the letter of intent for the endoscopic imaging technology, any exclusivity and timing?

A: We're in final stages of ironing out the licensing agreement, expect to sign shortly, with development work at Duke and plan to advance to commercial product development and FDA submission, keeping it separate from Lucid for now.