Home Top Movers PAVmed Inc. (PAVM) revealed Third Quarter 2020 Financial Results and Business Update

PAVmed Inc. (PAVM) revealed Third Quarter 2020 Financial Results and Business Update

The Company and its subsidiaries Lucid Diagnostics and Solys Diagnostics received a Business Update from PAVmed Inc. (Nasdaq: PAVM) and addressed the details of financial operations for 3 and 9 months ended 30 September 2020.

Research and development expenditures for 3 months ended 30 September 2020 amounted to $2.6 million, with general and administrative costs in line with the previous period of $2.9 million. GAAP net loss of $5.6 million or $(0.11), per common share attributable to common stockholders.

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The Corporation announced non-GAAP adjusted losses of $4.5 million for the three months ended September 30, 2020, or $(0.09) of the common share to assist readers in recognizing the impact of the derivative and other non-cash revenue and expenditures on the Company’s financial performance.

As of 30 September 2020, PAvmed had $8.3 million in currency and cash equivalents, compared to $6.2 million in 2019, compared to 31 December.

The quarter ending includes $448 of stock-based compensation expense given as general and administrative expenses and $138 posted as R&D expense.

For the period $269 is reported as general and administrative costs for inventory-based salaries and $61 is reported as research and development spending.

The reported quarter comprises $1.132 in the overall and operating costs incurred on stock-based compensation and $326 in the expenditures reported on research and growth.

A highly differentiated, multi-product, healthcare device firm closed 1.66% down to 1.78, yesterday’s volume was recorded 482.2K against the company’s average volume of 562.34K. the firm with a Market Capitalization of 93.56K is trading -4.47% away from its 50 days Simple Moving Average.

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