Picard Medical Inc. - Total Artificial Heart Pioneer

Company Overview (Updated April 2026)

Picard Medical, Inc. is a publicly traded medical device company headquartered in Tucson, Arizona. Founded in 2021, the company operates as the parent company of SynCardia Systems, LLC, a leader in total artificial heart technology for patients with end-stage heart failure. The company trades on the NYSE American under the ticker symbol PMI.

Mission: To advance total artificial heart therapy and provide life-sustaining cardiac support solutions for patients with end-stage heart failure, while developing next-generation fully implantable technologies that could serve as alternatives to heart transplantation.

Corporate History and Strategic Acquisition

Formation and SynCardia Acquisition (2021)

- Founded: 2021 as a subsidiary of Hunniwell Picard I, Llc

- September 30, 2021: Acquired SynCardia Systems, the Tucson, Arizona-based developer of the world's first total artificial heart

- Strategic Significance: SynCardia's Total Artificial Heart remains the only commercially available total artificial heart in the United States and Canada

Public Market Entry (2025)

Initial Public Offering (December 2025)

Listing Details:

- Stock Exchange: NYSE American

- Ticker Symbol: PMI

- IPO Size: $12 million

- Milestone Event: Rang the NYSE Opening Bell on December 18, 2025

Previous SPAC Attempt:

- In April 2023, Picard previously attempted to go public through a Nasdaq SPAC deal valued at $480 million, which was abandoned approximately one year later

Core Products and Technology

SynCardia Total Artificial Heart (STAH)

The SynCardia Total Artificial Heart is the company's flagship product and the world's first and only commercially available total artificial heart:

- Regulatory Status: First artificial heart approved by both the U.S. FDA (2004) and Health Canada

- Clinical Application: Replaces both the left and right ventricles of a failing human heart, providing a bridge to transplant for end-stage heart failure patients

- Technology: Pneumatically powered implantable system that assumes full cardiac function

- Global Impact: Over 2,100 implants performed at hospitals across 27 countries

- Clinical Standing: Most widely used and extensively studied artificial heart in the world

Emperor Total Artificial Heart (Development Pipeline)

- Next-Generation Platform: Fully implantable total artificial heart with no external hardware

- Development Status: Currently in prototype phase; animal studies initiated in 2025

- Potential Application: Could serve as an alternative to heart transplantation for long-term use (2+ years)

- Recent Presentations: Data presented at CSI Focus D-HF 2025 in Frankfurt (December 2025) and scheduled for EUMS 2026 in Barcelona (February 2026)

- Research Leadership: Dr. Andre Simon, Vice President of Clinical Affairs, leading clinical data presentations

Financial Performance

Revenue (2024)

- Calendar Year 2024: Approximately $4.4 million in revenues

Executive Compensation (FY 2024)

- Patrick NJ SchnegelSBErg (CEO): $400,000

- Bernard Skaggs (CFO): $200,000

- Matthew Schuster (COO): $220,000

- Dr. Frank Tinker (CTO, SynCardia): $123,000

Securities Litigation and Legal Matters (2025-2026)

Class Action Lawsuits

Allegations:

- Fraudulent stock promotion scheme involving social media-based misinformation and impersonated financial professionals

- Insiders and/or affiliates allegedly used offshore or nominee accounts to facilitate coordinated dumping of shares during a price inflation campaign

- Public statements and risk disclosures allegedly omitted mention of false rumors and artificial trading activity driving stock price

Key Dates:

- October 24, 2025: Stock price dropped approximately 59.8% in a single session (from $13.20 to $5.31)

- Class Period: September 2, 2025 to October 31, 2025

- Lead Plaintiff Deadlines: April 3, 2026 and April 13, 2026 (multiple law firms filing)

Legal Counsel: Levi & Korsinsky LLP, Faruqi & Faruqi LLP, and other securities litigation firms

Leadership Team

Executive Leadership

Chief Executive Officer: Patrick NJ Schnegelsberg

- Appointed July 2023

- Over 25 years of executive leadership experience in medical technology companies across Europe and the United States

- Previously CEO of Syntach AB (2022-2023) and COO/CEO of Occlutech Group (2012-2021)

- Elected to Board of Directors of Arizona Bioindustry Association (AZBio) in December 2025, term through December 2028

Chief Financial Officer: Bernard Skaggs

Chief Operating Officer: Matthew Schuster

Chief Technology Officer (SynCardia): Dr. Frank Tinker, Ph.D.

Vice President of Clinical Affairs: Dr. Andre Simon

- Leading clinical data presentations at international cardiology conferences

Recent Developments (2026)

- February 2026: Announced presentation of Emperor TAH data at EUMS 2026 congress in Barcelona

- March 2026: Securities class action deadlines approaching (April 2026)

- December 2025: CEO elected to AZBio Board of Directors; company completed IPO

Company Information

Corporate Details

Legal Name: Picard Medical, Inc.

Founded: 2021

Headquarters: Tucson, Arizona, USA

Stock Exchange: NYSE American

Ticker Symbol: PMI

Status: Public company

Parent Company: Hunniwell Picard I, Llc (prior to IPO)

Subsidiary: SynCardia Systems, LLC

Industry: Medical Devices - Cardiac Surgery / Artificial Organs

Contact Information

Investor Relations: Eric Ribner, LifeSci Advisors LLC | eric@lifesciadvisors.com

Company IR: IR@picardmedical.com

General/Media: Brittany Lanza | blanza@syncardia.com

Website: www.picardmedical.com

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