Medical technology company PAVmed and its majority-owned subsidiary Lucid Diagnostics, a commercial-stage cancer prevention diagnostics company, have announced a new IR team to serve both Nasdaq-listed companies.
Adrian Miller has been named as vice president of IR, with a company release noting that his role will include ‘broad strategic responsibilities across all aspects of investor communications, as well as a specific focus on institutional investors’. The new full-time team also includes DA Wallace, who has been appointed director of retail investor relations, to work closely with Miller.
Miller, who brings 20 years of experience, comes most recently from a role as director of IR and chief market strategist at Concise Capital. His broad financial communications role there included communicating the company’s investment strategy to existing and potential investors, ‘cultivating a presence for the firm’ with reporters across financial media outlets and distributing commentary to the investment media to help build the Concise Capital brand, according to a PAVmed and Lucid statement.
Prior to his time at Concise Capital, Miller served as chief operating officer of LM Capital Solutions, as well as holding positions at GMP Securities and Citigroup. He also serves as an adjunct professor at Fairleigh Dickinson University, lecturing on finance, economics and investing.
DA Wallace, a former stockbroker and investment bank analyst who also brings more than 20 years of institutional and retail IR experience to his new role, boasts stints at companies including Home Depot and Cox Communications, First Data, Rescare and the National Association of Investors.
‘PAVmed and Lucid have always been committed to transparent and substantive communications with our shareholders through periodic public communications, as well as extensive direct interactions,’ says Lishan Aklog, chairman and CEO of both PAVmed and Lucid, in a statement welcoming Miller and Wallace. ‘We are now adding the necessary resources to ensure that during our current rapid growth phase, we continue to serve our shareholders’ needs and significantly expand our capacity to communicate to the broader investor community.
‘Miller is a seasoned Wall Street veteran who brings extensive experience and strong relationships to this leadership role, and I look forward to working closely with him and the entire team to live up to these commitments.’
Stock in the two companies has seen a rocky few months. A ‘vague’ announcement to the SEC from PAVmed in December, in which it said it planned to seek finance through the issuance of new equity, debt or a combination of the two, saw the share price fall 13 percent in a day. Just last week, a post to Nasdaq noted that stock in Lucid is now receiving positive analyst coverage ‘after tumbling more than a third’ from its IPO debut in October at $14 a share.