PAVmed reports Q3 non-GAAP EPS (9c), consensus (14c)

Reports Q3 revenue 800,000, consensus $660,000. PAVmed had cash and cash equivalents of $26.4M as of September 30, compared to $37.2M as of June 30. “Lucid’s sustained commercial success and Veris’s future commercial execution will be the primary drivers of PAVmed’s long-term success,” said Lishan Aklog, M.D., PAVmed’s Chairman and Chief Executive Officer. “As noted in yesterday’s Lucid business update, Q3 was the most important quarter in Lucid’s, and therefore PAVmed’s, history, as we have now begun to translate increasing commercial activity into revenue and revenue growth. Whether it be commercial execution, revenue cycle management, laboratory operations, or clinical research productivity, Lucid is firing on all cylinders. As we have done with Lucid, we are now laying the foundation for Veris’s future commercial success. This includes upgrading the Veris Cancer Care Platform to incorporate early adopter feedback; restructuring and expanding the commercial infrastructure; engaging with large academic cancer centers; and initiating dialogue with large pharma companies to have our platform serve as a digital companion to novel cancer therapeutics undergoing market surveillance.”