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

GMVD Stock
GMVD Stock

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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