Picard Medical, Inc.

Picard Medical, Inc. announced the permanent appointment of Richard Fang, Ph.D., as Chief Executive Officer, effective October 28, 2026. Dr. Fang, who has served as Interim CEO since June 2026, will also continue as Chairman of the Board. His annual salary remains $0.4 million with no changes to his compensation. The company also disclosed two related-person loans: a $0.7 million loan from Fang Family Fund I, LLC at 6% interest due February 28, 2027, and a $0.5 million loan from Fang Family Fund, LLC - Series II at 0% interest with terms dependent on external funding.

Picard Medical, Inc. announced a major milestone in its Emperor Total Artificial Heart (TAH) program with the first public scientific presentation of its integrated architecture. The presentation at the IEEE EMBC 2026 detailed how the patent-pending Emperor Drive System (EDS) integrates with the SynCardia Total Artificial Heart (STAH) ventricles. This development represents a significant step towards a next-generation, fully implantable artificial heart, building on the STAH's clinical foundation.

Picard Medical, Inc. announced that it will present new engineering insights into its next-generation Emperor Total Artificial Heart (Emperor TAH) system at the 48th Annual International Conference of the IEEE Engineering in Medicine and Biology Society (EMBC 2026). The presentation will mark the first public scientific introduction of the Emperor Drive System (EDS) architecture, which combines the proven SynCardia Total Artificial Heart ventricles with the Company’s new electromechanical drive system. This initiative reflects Picard Medical's commitment to advancing mechanical circulatory support through innovation.

Picard Medical, Inc. announced that NYSE American LLC has accepted its plan to regain compliance with the exchange's continued listing standards. This acceptance allows the company to continue listing and trading its common stock on the NYSE American under the ticker symbol 'PMI'. The company has been granted a compliance period through November 8, 2027, during which it will execute operational, strategic, and financial initiatives. Interim CEO Richard Fang expressed pleasure with the decision, highlighting progress in advancing the Emperor Total Artificial Heart platform and strengthening the company's financial position.

Picard Medical, Inc. announced a 1-for-50 reverse stock split of its common stock, effective July 31, 2026. Trading on a split-adjusted basis will begin on August 3, 2026, under the existing ticker "PMI" and a new CUSIP number. This corporate action, approved by stockholders and the Board, is intended to support the company's continued compliance with NYSE American listing standards, with fractional shares being rounded up.

Picard Medical, Inc. announced its Board of Directors approved a 1-for-50 reverse stock split of its common stock. This action is intended to support the company's continued compliance with NYSE American listing standards. The split is expected to become effective on July 31, 2026, with split-adjusted trading commencing on August 3, 2026. Interim CEO Richard Fang stated the split is an important step for continued listing and positioning the company for its next phase of growth.

Picard Medical announced the publication of an independent commentary in Artificial Organs, examining its next-generation Emperor platform. The article, titled "A New Chapter in the Quest for a Fully Implantable Artificial Heart," highlights recent preclinical studies of the Emperor platform, which combines the Emperor Drive with the SynCardia Total Artificial Heart. These studies demonstrated stable full circulatory support and physiologic autoregulatory behavior, with no device-related intraoperative failures. The company views these successful acute implant studies as an encouraging preclinical milestone as it works towards human clinical evaluation.

Picard Medical, Inc. filed an amended Form 8-K to replace a previously furnished press release with a corrected version. The corrected press release announces the availability of a pre-recorded presentation for its 2026 Annual Meeting of Stockholders, highlighting significant business progress and product development milestones. Key updates include an 85% year-over-year revenue increase for Q1 2026, a 116% rise in U.S. revenue, and a gross margin of 24% for the same period. The company also provided updates on its next-generation Emperor platform, with plans for an IDE submission in 2028 and clinical studies in 2029.

Picard Medical announced the availability of its pre-recorded presentation for the 2026 Annual Meeting of Stockholders. The presentation highlighted strong Q1 2026 financial performance, with revenue increasing 85% year-over-year and US revenue up 116%. Gross margin improved significantly to 24% from -4% in 2025. The company also provided updates on its next-generation Emperor platform, targeting FDA Breakthrough Device designation and clinical studies by 2029 for a fully implantable artificial heart.

Picard Medical, Inc. filed an amendment to its previous 8-K filing to correct the committee appointments for Dr. Joe Xiao. Dr. Xiao was appointed to the Board of Directors on June 23, 2026, and will now serve on both the Compensation Committee and the Nominating and Corporate Governance Committee. He has also entered into the standard indemnification agreement and will be compensated according to the company's policy for non-employee directors.