PAVmed reports Q3 GAAP net income $64.3M driven by deconsolidation; Lucid EsoGuard revenue record $1.2M

PAVmed Inc.

2024-Q3 EPS reported $0.79 revenue$3,000,000

Lucid Q3 EsoGuard revenue $1.2M, a record; 2,787 commercial tests; October single-month record >1,400 tests.
GAAP net income $64.3M ($1.44 diluted EPS) largely due to Lucid deconsolidation; non-GAAP adjusted loss $5.4M ($0.54/share).
Cash and equivalents $0.8M as of Sept 30, 2024, down from $19.6M at Dec 31, 2023.
PAVmed deconsolidated Lucid on Sept 10; reached agreement to exchange $25M convertible debt for preferred equity to regain Nasdaq compliance; extension to Jan 31, 2025.
Veris completed pilot with Ohio State's James Cancer Hospital and awarded $1.8M NIH grant.

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