NEW YORK, Jan 22, 2026, 05:43 EST — Premarket
- PAVmed shares fell about 3% in premarket, pulling back after nearly doubling on Wednesday
- Lucid Diagnostics, a subsidiary, clinched a U.S. Veterans Affairs contract for EsoGuard, prompting the move
- Traders are pressing for details on rollout speed, volumes, and any further updates
PAVmed Inc shares slipped 3.4% in premarket Thursday, down to $11.64 after a volatile session the previous day. On Wednesday, the micro-cap medical tech stock surged 94.7%, closing at $12.05 after trading between $11.58 and $28.44 on heavy volume. 1
The rally stands out, especially with PAVmed’s small float and limited market cap, which make the stock particularly reactive to contract updates. Investors are now re-evaluating the diagnostics division after months of worries about listing compliance and funding hurdles that have dragged down smaller medtech companies.
Lucid Diagnostics, part of PAVmed, has landed a contract with the U.S. Department of Veterans Affairs for its EsoGuard esophageal DNA test. This agreement places EsoGuard on the VA Federal Supply Schedule, letting VA facilities buy the test under set terms. Pricing will match the Medicare payment rate set by the Centers for Medicare & Medicaid Services, the company said. “The VA operates at significant clinical and operational scale,” said Lucid President and COO Shaun O’Neil in the announcement. 2
Lucid Diagnostics shares dropped 10.6% in premarket action after slipping 6.6% on Wednesday. The VA headline has triggered uneven reactions across these two stocks. 3
PAVmed carried out a 1-for-30 reverse stock split on Jan. 2 to comply with Nasdaq’s $1 minimum bid price requirement. The move bundles shares, pushing the price higher without changing the company’s underlying value. But these consolidations often ramp up volatility in small-cap stocks. 4
The VA award leaves key details like test volume and timing unclear. Traders will zero in on that ambiguity in the next session—tracking whether hospitals quickly boost product usage and if the company offers early hints on demand.
The risk is pretty clear-cut. Landing a contract gets the product on procurement lists, but that doesn’t ensure clinicians will actually use it. Plus, government red tape can slow things down. After a stock with a big intraday swing and tens of millions of shares changing hands, a pullback seems likely unless new developments surface to sustain momentum.
All eyes are on the company’s next earnings release, scheduled for March 24, 2026, per Public’s earnings calendar. Shareholders will be focused on any news about the VA rollout schedule, its effect on revenue, and anticipated cash needs. 5
