PAVmed Inc. (NASDAQ: PAVM), a diversified commercial-stage medical technology company, announced its financial results for the fiscal year ended December 31, 2025, alongside a business update on March 30, 2026. The company reported a GAAP net loss attributable to common stockholders of approximately $1.8 million, or $(2.05) per share, for the fourth quarter of 2025. Operating expenses for the same period were approximately $6.9 million, which included stock-based compensation expenses of $0.3 million. Despite the losses, PAVmed highlighted significant advancements in its business operations, including the completion of a $30 million Series D preferred stock offering and a $15 million senior secured note financing. These efforts have strengthened the company's balance sheet and eliminated previously outstanding convertible securities, thereby extending its cash runway. PAVmed also relaunched its medical device portfolio under new leadership, appointing Joseph Virgilio as Chief Business Officer of Medical Devices. The company is progressing with its implantable physiological monitor towards FDA submission and has advanced its strategic partnership with The Ohio State University’s James Cancer Hospital. Additionally, Lucid Diagnostics, a subsidiary of PAVmed, reported a revenue of $1.5 million for its EsoGuard Esophageal DNA Test in the fourth quarter, processing 3,664 tests. The company has also secured a contract with the U.S. Department of Veterans Affairs, expanding access to its diagnostic tools. A conference call and webcast were scheduled for March 30, 2026, to discuss these developments further.

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