Picard Medical, Inc. (NYSE:PMI) shares jumped 15% to $0.31 after the bell on Tuesday after the Tucson-based medtech announced successful acute in vivo implant studies of its next-generation Emperor Total Artificial Heart (Emperor TAH) platform, conducted at the University of Arizona and Banner University Medical Center.
Next-Gen Artificial Heart Clears Animal Study
According to the company, three procedures confirmed stable hemodynamic support with no device-related intraoperative failures. The electromechanical system features an independent dual-motor ventricular design enabling side-specific control of systemic and pulmonary circulation, building on the established architecture and clinical experience of the company’s FDA- and Health Canada-approved SynCardia Total Artificial Heart.
CEO Patrick Schnegelsberg called it “another important milestone” toward a fully implantable heart.
The Emperor TAH has not yet received FDA approval.
Leadership Shakeup
On Monday, a Securities and Exchange Commission filing disclosed the termination of CFO Bernard Skaggs, with Georgina Smith appointed Chief Accounting Officer.
Trading Metrics, Technical Analysis
Picard Medical has a market capitalization of $24.70 million, with a 52-week high of $13.68 and a 52-week low of $0.11.
The stock of the biotechnology company has a Relative Strength Index (RSI) of 44.09.
Over the past 12 months, PMI has dropped 94.12%.
The small-cap stock is currently trading close its annual low.
PMI’s sharp decline and weak positioning suggest continued pressure on shares, highlighting elevated risk and the need for clear signs of a turnaround before investor sentiment improves.
Price Action: According to Benzinga Pro data, the stock closed the regular session at $0.27, down 60.67%.
Benzinga’s Edge Stock Rankings indicate that PMI has a negative price trend across all time frames.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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