PAVmed to Join the Russell 2000 and Russell 3000 Indexes

NEW YORK, June 17, 2020 (GLOBE NEWSWIRE) -- PAVmed Inc. (Nasdaq: PAVM, PAVMZ) (the “Company” or “PAVmed”), a highly differentiated, multiproduct medical device company, today announced the Company is set to join the small-cap Russell 2000 Index and the broad-market Russell 3000 Index as part of the indexes' annual reconstitution, effective after the U.S. market open on June 29, 2020, according to a preliminary list of additions posted by FTSE Russell on June 12, 2020.

The Russell US Indexes serve as leading benchmarks for institutional investors and as the basis for index-linked products. Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. Approximately $9 trillion in assets are benchmarked against Russell’s U.S. indexes. Russell indexes are part of FTSE Russell, a leading global index provider.

The broad-market Russell 3000 Index includes the largest 3,000 U.S. companies. The Russell 2000 Index is a subset of the broader Russell 3000 Index and measures the performance of the small-cap segment of the U.S. equity universe. The indexes are reconstituted annually by re-ranking companies based on total market capitalization.

“PAVmed’s inclusion in the small-cap Russell 2000 and broad-market Russell 3000 indexes represents an important milestone and is testament to our growth and maturity as a company and our success at increasing shareholder value over the past year,” said Lishan Aklog, M.D., PAVmed’s Chairman and Chief Executive Officer. “We are confident that joining these indexes will enhance our visibility within the broader investment community, as we continue to execute on our business strategy by advancing our portfolio of groundbreaking products and accelerating commercialization of our EsoGuard, EsoCheck and CarpX products.”

For more information on the Russell 3000 Index and the Russell indexes reconstitution, go to the “Russell Reconstitution” section on the FTSE Russell website.

About PAVmed

PAVmed Inc. is a highly differentiated, multiproduct commercial stage medical device company employing a unique business model designed to advance innovative products to commercialization rapidly and with 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 while seeking to further expand its pipeline through relationships with its network of clinician innovators at leading academic centers. PAVmed’s diversified product pipeline addresses unmet clinical needs encompassing a broad spectrum of clinical areas with attractive regulatory pathways and market opportunities. Its four operating divisions include GI Health (EsoGuard Esophageal DNA Test, EsoCheck Esophageal Cell Collection Device, and EsoCure Esophageal Ablation Device with Caldus Technology), Minimally Invasive Interventions (CarpX Minimally Invasive Device for Carpal Tunnel Syndrome), Infusion Therapy (PortIO Implantable Intraosseus Vascular Access Device and NextFlo Highly Accurate Infusion Platform Technology), and Emerging Innovations (non-invasive laser-based glucose monitoring, pediatric ear tubes, and mechanical circulatory support). For more information, please visit www.pavmed.com, follow us on Twitter, connect with us on LinkedIn, and watch our videos on YouTube. For more information on our majority owned subsidiary, Lucid Diagnostics Inc., please visit www.luciddx.com, follow Lucid on Twitter, and connect with Lucid on LinkedIn.