PAVmed Inc. reported a significant decline in revenue for the second quarter of 2025, generating less than $0.1 million compared to $979,000 in the same period last year. The decrease is attributed to the deconsolidation of Lucid Diagnostics, which previously contributed substantially to the company's revenue through its EsoGuard Esophageal DNA tests. For the first half of 2025, PAVmed's revenue totaled $14,000, down from $1.99 million in the prior year. The company also reported an operating loss of $4.7 million for the second quarter, a notable improvement from a loss of $13.7 million in the same quarter of 2024.
PAVmed's total operating expenses decreased to $4.7 million in the second quarter of 2025, down from $14.7 million in the prior year, primarily due to reduced costs associated with Lucid's operations. General and administrative expenses were $3.7 million, down from $7 million, while research and development costs also fell to $790,000 from $1.6 million. The company recognized a net loss attributable to common stockholders of $13.3 million for the second quarter, compared to a loss of $10.9 million in the same period last year.
In terms of strategic developments, PAVmed has focused on expanding its Veris Cancer Care Platform and has entered into partnerships to enhance its offerings. The company reported management fee income of $3.2 million in the second quarter, reflecting its ongoing relationship with Lucid, which is now accounted for as an equity method investment. PAVmed's cash position improved significantly, ending the quarter with $4 million, up from $1.2 million at the end of 2024.
Operationally, PAVmed's employee headcount has remained stable, and the company continues to explore opportunities for geographic expansion and product adoption. The company is actively pursuing strategic partnerships to enhance the Veris Cancer Care Platform and is developing an implantable physiological monitor to complement its offerings. PAVmed's management has expressed optimism about increasing revenues from its cancer care platform and is focused on controlling operating costs to ensure financial stability.
Looking ahead, PAVmed anticipates ongoing challenges, including the need for additional capital to support its operations and product development. The company has indicated that its ability to continue as a going concern will depend on its success in raising funds and managing costs effectively. PAVmed's management remains committed to advancing its innovative healthcare technologies and addressing unmet medical needs in the market.
About PAVmed Inc.
About 10-Q Filings
A 10-Q form is an important financial report that public companies in the United States must submit every three months. It gives a clear picture of a company's financial health and recent performance.
Key points about the 10-Q:
- Frequency: Companies file it three times a year, covering the first three quarters. The fourth quarter is covered in a more comprehensive annual report.
-
Content: It includes:
- Financial statements showing the company's current financial position
- Updates from management on the performance and projections of the business
- Information about potential risks the company faces
- Details on how the company is run internally
- Deadline: Must be filed within 40 or 45 days after the quarter ends, depending on the size of the company.
Our Methodology
AssetRoom is committed to providing timely summaries of news from public companies. We use AI to generate these summaries quickly, but they are not reviewed by human experts.
Our method:
- Data Collection: We continuously monitor for new filings (currently limited to US-listed stocks).
- AI-Powered Analysis: Our advanced AI system processes each filing, identifying key information and extracting relevant data.
- Summary Generation: The AI creates a concise, easy-to-understand summary of the filing, highlighting the most important points.
- Publication: The summary is immediately published on our platform, allowing users instant access to the latest information.
- Email users: We distribute round-up emails according to our users preferences, keeping them in the loop with the companies they follow.
Feedback & Corrections
Spot an error or have a suggestion? Contact us.