Nasdaq Notifies PAVmed of Regained Compliance with Continued Listing Requirements
July 09 2018 - 7:30AM
Business Wire
PAVmed Inc. (Nasdaq: PAVM, PAVMZ) (the “Company” or
“PAVmed”), a highly differentiated, multiproduct medical device
company, today announced that The Nasdaq Stock Market LLC
(“Nasdaq”) has notified the Company that it has regained compliance
with the minimum stockholders’ equity requirement for continued
listing on The Nasdaq Capital Market, as set forth in Nasdaq
Listing Rule 5550(b)(1).
On June 27, 2018, PAVmed filed a Form 8-K with the Securities
and Exchange Commission announcing that it believed its recently
closed oversubscribed equity subscription rights offering, raising
gross proceeds of approximately $10.35 million, allowed the Company
to regain compliance with Nasdaq’s minimum $2.5 million
stockholders’ equity requirement for continued listing as set forth
in Listing Rules 5550(b)(1). The Nasdaq notice received by the
Company confirmed the Company’s regained compliance.
About PAVmed
PAVmed Inc. is a highly differentiated, multiproduct medical
device company employing a unique business model designed to
advance innovative products to commercialization much more rapidly
and with significantly less capital than the typical medical device
company. This proprietary model enables PAVmed to pursue an
expanding pipeline strategy with a view to enhancing and
accelerating value creation. PAVmed’s diversified pipeline of
products address unmet clinical needs encompassing a broad spectrum
of clinical areas with attractive regulatory pathways and market
opportunities. Its three lead products provide groundbreaking
approaches to carpal tunnel syndrome (CarpX™), precancerous
conditions of the esophagus (EsoCheck), vascular access (PortIO™)
and pediatric ear infections (DisappEAR™). The company is also
developing innovative products in other areas, such as medical
infusions and tissue ablation, while seeking to further expand its
pipeline through engagements with clinician innovators and leading
academic medical centers. For further information, please visit
www.pavmed.com.
Forward-Looking Statements
This press release includes forward-looking statements that
involve risks and uncertainties. Forward-looking statements are
statements that are not historical facts. Such forward-looking
statements, based upon the current beliefs and expectations of
PAVmed’s management, are subject to risks and uncertainties, which
could cause actual results to differ from the forward-looking
statements. Risks and uncertainties that may cause such differences
include, among other things; volatility in the price of PAVmed’s
common stock, Series W Warrants and Series Z Warrants; general
economic and market conditions; the uncertainties inherent in
research and development, including the cost and time required
advance PAVmed’s products to regulatory submission; whether
regulatory authorities will be satisfied with the design of and
results from PAVmed’s preclinical studies; whether and when
PAVmed’s products are cleared by regulatory authorities; market
acceptance of PAVmed’s products once cleared and commercialized;
our ability to raise additional funding and other competitive
developments. PAVmed has not yet received clearance from the FDA or
other regulatory body to market any of its products. New risks and
uncertainties may arise from time to time and are difficult to
predict. All of these factors are difficult or impossible to
predict accurately and many of them are beyond PAVmed’s control.
For a further list and description of these and other important
risks and uncertainties that may affect PAVmed’s future operations,
see Part I, Item IA, “Risk Factors,” in PAVmed’s most recent Annual
Report on Form 10-K filed with the Securities and Exchange
Commission, as the same may be updated in Part II, Item 1A, “Risk
Factors” in any Quarterly Reports on Form 10-Q filed by PAVmed
after its most recent Annual Report. PAVmed disclaims any intention
or obligation to publicly update or revise any forward-looking
statement to reflect any change in its expectations or in events,
conditions, or circumstances on which those expectations may be
based, or that may affect the likelihood that actual results will
differ from those contained in the forward-looking statements.
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InvestorsLHA Investor RelationsKim
Sutton Golodetz, 212-838-3777kgolodetz@lhai.comorMediaPAVmed Inc.212-949-4319info@pavmed.com
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