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NEW YORK - PAVmed Inc . (NASDAQ: NASDAQ:PAVM, PAVMZ), a medical technology company with operations in devices, diagnostics, and digital health, has announced that it has successfully regained compliance with Nasdaq’s stockholders’ equity listing requirements. The company met the Nasdaq Capital Market’s standards by increasing its stockholders’ equity to over $2.5 million, primarily through strategic financial maneuvers, including the deconsolidation of its Lucid (NASDAQ:LCID) Diagnostics subsidiary and restructuring of convertible debt.
The Nasdaq Listing Qualifications Department confirmed PAVmed’s compliance on Monday, following the company’s efforts to meet the Continued Listing Standards for Primary Equity Securities. The compliance ensures that PAVmed’s securities will maintain their listing on the Nasdaq Capital Market.
As part of the compliance maintenance, PAVmed will undergo a one-year monitoring period by a Nasdaq panel. If the company fails to meet the equity requirement within this timeframe, it may face a delisting notice and will need to address the issue promptly, potentially including a hearing request.
PAVmed’s portfolio includes Lucid Diagnostics Inc. (NASDAQ: LUCD), which provides tools for early detection of esophageal precancer, and Veris Health Inc., a digital health company developing technologies for personalized cancer care and remote patient monitoring. According to InvestingPro data, LUCD has shown remarkable momentum with a 75% price return over the past six months, currently trading near its 52-week high of $1.51. The company has demonstrated strong revenue growth of 179% in the last twelve months, though it continues to invest heavily in growth with negative EBITDA of $43.6 million.
The announcement comes with the standard caution regarding forward-looking statements, reminding investors of the inherent risks and uncertainties in the medical technology industry. These risks include market volatility, economic conditions, research and development challenges, regulatory approval processes, market acceptance of products, and the need for additional financing. InvestingPro analysis reveals multiple key insights about LUCD’s outlook, with analysts anticipating sales growth in the current year despite current challenges. For deeper insights into LUCD’s financial health and growth prospects, investors can access the comprehensive Pro Research Report, available exclusively to InvestingPro subscribers, which covers over 1,400 US stocks with detailed analysis and actionable intelligence.
This news follows PAVmed’s recent financial adjustments and is based on a press release statement. The company’s ability to meet Nasdaq’s financial requirements suggests a positive step in its ongoing operations and financial restructuring efforts.
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