PAVmed's Q4 2024: Unraveling Contradictions in Veris Health's Regulatory Timeline and Market Strategy

These are the key contradictions discussed in PAVmed's latest 2024Q4 earnings call, specifically including: Timeline and Regulatory Strategy for Veris Health, Market Strategy and Partnerships for Veris Health, and Regulatory Path and Timeline for PortIO:



Lucid Diagnostics Revenue and Test Volume Growth:
- Lucid Diagnostics generated $1.2 million in revenue and processed over 4,000 tests in Q4, representing a 45% growth quarter-on-quarter.
- The growth was driven by increased adoption of the EsoGuard test and successful medical policy efforts.

Strategic Partnership and Commercial Launch with Ohio State:
- Veris Health closed a private placement financing with $2.4 million and secured a $1.8 million NIH grant.
- This financing will be used to advance the regulatory process for the implantable physiologic monitor, with a regulatory submission planned for year-end or early next year.

Lucid Diagnostics Financial Stability and Reimbursement Milestones:
- PAVmed refinanced its long-term debt and completed a registered direct common stock offering, extending its cash runway.
- The company is awaiting a response from the MolDX Group for EsoGuard Medicare coverage and expects a decision within the first half of this year.

PAVmed's Financial Restructuring and Balance Sheet Strength:
- PAVmed successfully deconsolidated Lucid Diagnostics and restructured its debt, complying with NASDAQ's minimum equity listing requirement.
- The restructuring preserved PAVmed's ownership in Lucid without absorbing its operating losses and allowed for a shared services model with subsidiaries.

Veris Health and the Implantable Monitor:
- Veris Health received a pre-money valuation of $35 million based on a private placement financing.
- The company is focused on regulatory clearance for the implantable monitor and expects submission by the end of this year or early 2026.