PAVmed Inc. (NASDAQ:PAVM) Q4 2022 Earnings Conference Call March 15, 2023 8:30 AM ET

Company Participants

Michael Parks – Vice President, Investor Relations

Lishan Aklog – Chairman and CEO

Dennis McGrath – Chief Financial Officer

Conference Call Participants

Ross Osborn – Cantor Fitzgerald

Frank Takkinen – Lake Street Capital

Anthony Vendetti – Maxim Group

Ed Woo – Ascendiant Capital

Operator

Welcome to the PAVmed's Business Update and Fourth Quarter 2022 Financial Results Conference Call. At this time all participants are in a listen-only mode. Later we will conduct a question-and-answer session.

I would now like to turn the call over to your host Michael Parks, Vice President, Investor Relations. Mr. Parks, you may begin.

Michael Parks

Thank you, Jen, and good morning everyone. Thank you for participating in today's fourth quarter 2022 business update call. The press release announcing this business update and the q 2022 financials will be available on the PAVmed's website. Please take a moment to read the disclaimer about forward-looking statements in the press release. The business update press release and the conference call both include forward-looking statements, and these forward-looking statements are subject to known and unknown risks and uncertainties that may cause actual results to differ materially from the statements made.

Factors that could cause results to differ are described in the disclaimer and in our filings with the U.S. Securities and Exchange Commission. For a list and descriptions of these and other important risks and uncertainties that may affect the future operations, see Part 1 Item 1A entitled Risk Factors in PAVmed's most recent annual report on Form 10-Q filed with the SEC and subsequent updates filed in the quarterly reports on Form 10-Q and any subsequent Form 8-K filings. Except as required by law, PAVmed disclaims any intentions or obligations to publicly update or revise any forward-looking statements to reflect changes in 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.

I would now like to turn the call over to Dr. Lishan Aklog, Chairman and CEO of PAVmed. Dr. Aklog?

Lishan Aklog

Thanks Mike and good morning everyone. It's great to have you all today and welcome to our quarterly update call. I'd like to first start by reminding you that we did do a Lucid conference call yesterday and that – the webcast of that is available online. I will cover Lucid today, but in a limited fashion so we have time to talk about the other aspects of the PAVmed business. So I would encourage everyone to review the webcast for the Lucid call yesterday. I'd like to start by with a bit of an overview on our strategic restructuring and then some recent highlights with Veris and Lucid. In the early part of January 2022, we initiated a strategic restructuring plan, an initiative that was designed to really maximize cash flow and protect our shareholders' interests over the long-term in what were and still remain challenging market conditions.