PAVmed
PAVMNASDAQUSD
- Source valuation snapshot. Not a live recalculation.
- Latest filed annual earnings; price snapshot date unavailable. Not forward P/E.
- Diluted earnings per share from the latest filed annual.
- $1.34 Prior regular-session close from the quote source.
- $1.43–$1.69 Regular-session low and high so far today.
- 56.4K Regular-session shares traded · Nov 13, 4:00 PM ET.
- Feb 12 projected Projected for 2027-02-12 from the company’s own results filings (SEC 8-K Item 2.02). The company has not confirmed the date.
- $1.17–$28.44 52-week trading low and high returned by the quote source.
Understand the Business
Why the Stock Moved
Period-matched expectations history is not yet available. Current metrics are not a substitute for a historical explanation.
The core investment thesis
Own PAVM if controlled device assets regain a financeable path to adoption before liquidity and dilution overwhelm shareholders.
PAVM price history
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Investment thesis
What must happen next
PAVmed’s economically controlled medical-device assets will need to convert clinical, regulatory, or customer progress into parent-level commercial revenue rather than leaving shareholders with stranded pipeline optionality.WeakeningMateriality: High
PAVmed is classified in surgical and medical instruments and apparatus, so the investment case is tied to device commercialization rather than a financial holding company model. If this holds, PAVmed can move from option value to an operating business; if it breaks, common equity depends mostly on financing and asset-sale residuals.
Watch: Hospitals, clinicians, or payors choose established device or diagnostic alternatives instead of PAVmed-controlled products.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
PAVmed is classified in surgical and medical instruments and apparatus, so the investment case is tied to device commercialization rather.
Open source ↗Management can preserve the option value of the device portfolio only if it keeps the operating model lean while still advancing the products.StrengtheningMateriality: High
GAAP annual operating cash flow improved from negative $70.985 million in FY2022 to negative $5.206 million in FY2025. Lower burn extends time for a product, partner, or financing event to arrive; a cost re-acceleration would force dilution or strategic retreat.
Watch: A required clinical study, regulatory remediation, or commercial relaunch forces a major increase in spending before financing is secured.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
GAAP annual operating cash flow improved from negative $70.985 million in FY2022 to negative $5.206 million in FY2025.
Open source ↗PAVmed must secure non-dilutive or tolerably dilutive capital, partnerships, or asset monetizations because internal cash generation is not sufficient to carry the strategy.WeakeningMateriality: Medium
Cash increased modestly from $1.185 million at FY2024 year-end to $1.538 million at FY2025 year-end. Financing determines whether shareholders own a live product option or are diluted before the commercial thesis can be tested.
Watch: Microcap medtech financing markets close to PAVmed or demand deeply discounted equity, warrants, or convertible securities.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
Cash increased modestly from $1.185 million at FY2024 year-end to $1.538 million at FY2025 year-end.
Open source ↗Recent balance-sheet improvement will matter for common holders only if future financing and restructuring leave the upside with shareholders rather than creditors or new security holders.HoldingMateriality: Medium
Stockholders’ equity improved from negative $53.831 million at FY2023 year-end to positive $33.967 million at FY2025 year-end. A medtech asset can succeed operationally while common shareholders still lose if the capitalization captures the value elsewhere.
Watch: New convertible debt, preferred stock, warrants, or exchange offers transfer most future upside away from existing common shareholders.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
Stockholders’ equity improved from negative $53.831 million at FY2023 year-end to positive $33.967 million at FY2025 year-end.
Open source ↗
Full investment case & evidence
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Original research
PAVmed’s economically controlled medical-device assets will need to convert clinical, regulatory, or customer progress into parent-level commercial revenue rather than leaving shareholders with stranded pipeline optionality. If this holds, PAVmed can move from option value to an operating business; if it breaks, common equity depends mostly on financing and asset-sale residuals.
Management can preserve the option value of the device portfolio only if it keeps the operating model lean while still advancing the products. Lower burn extends time for a product, partner, or financing event to arrive; a cost re-acceleration would force dilution or strategic retreat.
PAVmed must secure non-dilutive or tolerably dilutive capital, partnerships, or asset monetizations because internal cash generation is not sufficient to carry the strategy. Financing determines whether shareholders own a live product option or are diluted before the commercial thesis can be tested.
Recent balance-sheet improvement will matter for common holders only if future financing and restructuring leave the upside with shareholders rather than creditors or new security holders. A medtech asset can succeed operationally while common shareholders still lose if the capitalization captures the value elsewhere.
All standing thesis claims
Original report summary
controlled device assets regain a financeable path to adoption before liquidity and dilution overwhelm shareholders.
Bull case and bear case
Bull case and bear case for PAVmed
Where the evidence on PAVmed disagrees: Mixed on the latest evidence (Nov 4, 2026). Of its 4 thesis points, 1 strengthening, 1 holding and 2 weakening.
Bull case: what the evidence supports
Management can preserve the option value of the device portfolio only if it keeps the operating model lean while still advancing the products.
Recent balance-sheet improvement will matter for common holders only if future financing and restructuring leave the upside with shareholders rather than creditors or new security holders.
Bear case: what the evidence questions
PAVmed’s economically controlled medical-device assets will need to convert clinical, regulatory, or customer progress into parent-level commercial revenue rather than leaving shareholders with stranded pipeline optionality.
PAVmed must secure non-dilutive or tolerably dilutive capital, partnerships, or asset monetizations because internal cash generation is not sufficient to carry the strategy.
Thesis-Break Engine
Thesis-break watch · PAVmed
No break has crossed PAVmed’s thesis. Its break conditions are checked against every new filing as it lands.
MARKET + FINANCIAL SNAPSHOT
The numbers behind the thesis
What Changed
- MixedEntered a material definitive agreement.
PAVmed filed an SEC 8-K on 2026-10-22: Entered a material definitive agreement. It is a dated development that tests the current thesis.
- MixedEntered a material definitive agreement.
PAVmed filed an SEC 8-K on 2026-09-10: Entered a material definitive agreement. It is a dated development that tests the current thesis.
- MixedReported results of operations (earnings release).
PAVmed filed an SEC 8-K on 2026-08-14: Reported results of operations (earnings release). It is a dated development that tests the current thesis.
Risks / falsifiers
What could break the thesis
- Hospitals, clinicians, or payors choose established device or diagnostic alternatives instead of PAVmed-controlled products.
- A required clinical study, regulatory remediation, or commercial relaunch forces a major increase in spending before financing is secured.
- Microcap medtech financing markets close to PAVmed or demand deeply discounted equity, warrants, or convertible securities.
- New convertible debt, preferred stock, warrants, or exchange offers transfer most future upside away from existing common shareholders.
PAVM news
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Financial statements
PAVM income statement
Annual filed results · USD · Oldest to newest. Margins are calculated from the reported figures.
PAVM: quick answers
- When does PAVmed (PAVM) report earnings next?
- PAVmed's next results are projected for February 12, 2027, from the dates of its own results filings with the SEC. The company has not confirmed the date. It last reported on November 13, 2026. Earnings calendar
- What is PAVM's short interest?
- As of October 30, 2026, 12,812 PAVM shares were sold short, up 0.7% from the count before. At the stock's average daily volume that is 1.0 days to cover. FINRA publishes the count twice a month. PAVM short interest history