PAVmed Inc.

Good morning, and welcome to the POP Quarter 2026 Business Update Conference Call. At this time, all participants are in a listen-only mode. There will be a question-and-answer session following the prepared remarks. To require operator assistance, please press 4-0. Please note, this event is being recorded. I would not like to turn the conference call over to Matt Riley, Huffman's Vice President of Investor Relations. Please go ahead.

Thank you, operator, and good morning, everyone. Thank you for participating in today's business update call. Joining me today on the call are Dr. Elishan Akhlaq, Chairman and Chief Executive Officer of PatMed, along with Dennis McGrath, Chief Financial Officer of PatMed. The press release announcing our business update and financial results is available on PatMed's website. Please take a moment to read the disclaimers about board-looking statements in the press release. The business update, press release, and conference call all include board-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 statements made. Factors that could cause actual results to differ are described in the disclaimer and in our filings of the SEC. For a list and a description of these and other important risks and uncertainties that may affect future operations, see Part 1, Item 1A, entitled Risk Factors in PAVMED's most recent annual report on Forms 10-K. filed with the FCC, and any subsequent updates filed in the court reports on Forms 10-Q and subsequent Forms 8-K. Acceptance required by law has not displayed any intentions or obligations to publicly update or revise any four-dozen statements to reflect the changes in expectations on events, conditions, or circumstances on which the expectations may be based, or that may affect the likelihood that actual results will differ from those contained in the four-dozen statements. Now it's time to call over to Dr. Elisha Nakhlog, Chairman and CEO of FastBed. Thank you, Maddie.

Good morning, everyone. Thank you for joining our quarterly update call today. At our last business update call, we discussed the two-year process we undertook to permanently fix Padme's legacy capital structure and strengthen its balance sheet. The final step has been completed in the last couple of weeks, and the cap table is now clean. Dennis will discuss this in more depth, but a cap table now just consists of common stock and term debt. And with that, we now truly believe that PadMed is really well-positioned to execute on its founding mission for us to operate as a high-growth, diversified commercial life sciences company with multiple independently financed subsidiaries operating under our shared services model, and that we are well-positioned to come along. I'll talk a little bit about how that has accelerated since the restructuring took place. As we described on our last call, part of one major initiative that followed this restructuring has been the relaunching of our medical device portfolio under Joe Virgilio. He's been on board now and has hit the ground running. He's actively focusing on advancing multiple medical device opportunities, including Point.io and the endoscopic imaging technology we licensed for Duke under the Octaris umbrella, as well as broader responsibilities across our entire medical device portfolio. utilizing his expertise on building and scaling cross-state businesses and raising capital for these individual medical device commissions. As I mentioned, the pipeline has definitely opened up. We are fully evaluating business development assets that are being brought forth to us. We're on our second major diligence exercise. We did pass on the first opportunity as attractive as it was, and we really do expect those to bear fruit and for us to be bringing in commercial assets into our portfolios. So now let's move on to Lucid Diagnostics. So Lucid is on the cusp of transformative milestones, including what we believe is impending Medicare coverage. As we discussed on our previous call, we're awaiting Medicare. We're a bit of frustration that this is dragged on, but our confidence has not wavered. And I encourage you to listen to yesterday's Lucid Business Update call for greater details on this and other aspects of Lucid's business. As a reminder, Havnet remains Lucid's largest shareholder. Lucid's progress and upcoming major inflection points will benefit Havnet. Just a couple of highlights from the call yesterday. In addition to Medicare, it's clear that we're not remaining idle on the Lucid front. As we discussed, the VA is also a good start following securing the Federal Supply Schedule and pricing. First orders are being placed. The HAP pipeline is being expanded, and we report revenue along that segment. We also discussed our direct engagement with payers that we have issued positive coverage under one of the laboratory benefit managers, and that will be public soon. And, of course, with all that, this was also able to successfully raise around the capital that extended our runway well into 2027. So, now let's move on to VERUS. So, as we discussed in our last call, VERUS is now well into the commercial phase of our strategic engagement with Ohio State University. That process is well underway. The clinical rollout has been focused on the three clinical departments that had participated in the successful pilot study, and we're now on the cusp of adding additional departments according to our rollout schedule that OSU leadership developed in collaboration with us. As we noticed last time, the EHR integration is now live. It's working well. And just overall, the feedback both on the clinical and the administrative side from our partners at OSU remains excellent, and we look forward to continuing to drive towards the targets that were established within as part of our strategic partnership with them. Of course, a major focus right now is on the implantable physiologic monitor. That development is progressing towards time submission by the end of this year. As we discussed last time, we have a new contract development and manufacturing partner firm That partnership is going well. That's Valentium. And the design and development efforts leading to design freeze and the transition to the final pre-submission development work and testing is going well. A lot of the most recent efforts have been around the technical aspects of optimizing the battery life to get a full two years of battery life. We've made excellent progress on that and look forward to continuing the work towards submitting by the end of the year. We're also continuing to work on this expanded strategic vision for the company that we spent a bit of time on discussing during our last call. That includes ultimately expanding our commercial efforts beyond our single strategic partner and a variety of initiatives that are focused on transforming affairs beyond simple remote patient monitoring into additional strategic areas. We're looking to leverage our commercial success at OSU to support this expansion into additional centers. The other aspects of the strategic transformation that we are working on, although within the limited confines of our capital resources today, are additional work on clinical support services and development efforts around AI-based projects beyond remote patient monitoring. So with that, I'll hand the call over to Dennis for an update on the financial.