PAVmed Inc (NASDAQ:PAVM) Stock Sees Selling Pressure At Higher Level: What Next?

The diversified medical devices firm PAVmed Inc (NASDAQ:PAVM) has seen its stock enter into a negative spiral over the past week. During that period, the PAVmed stock declined by as much as 10% but at the same time, investors need to be aware of the fact that there has been no news or related developments that might have pushed the stock down to such a degree.

However, it might still be a good move to take a look at a development from June regarding PAVmed. Back on June 10, the company announced that Lucid Diagnostics, a subsidiary in which PAVmed holds a majority stake, concluded the vital European IVDD CE Mark certification for its product EsoGuard.

The product in question is an Esophageal DNA Test and it goes without saying that the certification is a major development for PAVmed. The certification was completed after the authorised European Union representative declared that the product fulfils the main requirements of the In-Vitro Diagnostic Medical Devices Directive 98/79/EC in Europe.

Following the certification, the EsoGuard product could be marketed in all nations which are part of the European Union Economic Area. While the decline in the stock may be surprising, it might still be a good idea to keep the PAVmed stock in the watch lists.