REDWOOD CITY, Calif. - Pulmonx Corporation (NASDAQ:LUNG), a company specializing in minimally invasive treatments for lung disease, announced the appointment of Mehul Joshi as its new Chief Financial Officer effective tomorrow. Joshi, with over three decades of financial and strategic planning experience, steps into the role following John McKune, who has served as the interim CFO since October 10, 2023.
Steve Williamson, President and CEO of Pulmonx, expressed confidence in Joshi's capabilities, underscoring his extensive background in guiding finance teams within large healthcare companies. Williamson also acknowledged McKune's contributions during his interim tenure.
Prior to joining Pulmonx, Joshi played a significant role in financial operations at PhenomeX Inc., ResMed Inc., and Gilead Sciences, Inc. (NASDAQ:GILD) His tenure at ResMed was marked by efforts to reengineer global finance teams to enhance revenue growth and operating leverage. Joshi holds an MBA from Rutgers Graduate School of Management and a Bachelor of Arts from Rutgers University.
Joshi's appointment comes as Pulmonx continues to focus on its growth strategies and aims to increase patient access to its Zephyr Valve treatment, which is designed to improve the quality of life for patients with severe emphysema, a form of chronic obstructive pulmonary disease (COPD).
The Zephyr Valve has received FDA pre-market approval and is considered a standard care option for severe emphysema in over 25 countries. Pulmonx's product portfolio also includes the Chartis Pulmonary Assessment System and the StratX Lung Analysis Platform, all contributing to the company's mission of providing innovative solutions for COPD management.
The information in this article is based on a press release statement from Pulmonx Corporation.
InvestingPro Insights
Pulmonx Corporation (NASDAQ:LUNG) has been navigating a challenging financial landscape, as reflected in recent metrics and analyst insights. With a market capitalization of approximately 327.95 million USD, the company is working hard to grow its innovative treatments for lung disease.
An important note for investors is that Pulmonx holds more cash than debt on its balance sheet, which is a positive sign of the company's liquidity and financial health. This is complemented by the fact that Pulmonx's liquid assets exceed its short-term obligations, providing a cushion for operational needs.
Still, challenges remain, as evidenced by the adjusted P/E ratio for the last twelve months as of Q4 2023, which stands at -5.39, indicating that the company is not currently profitable. This aligns with insights from analysts who have revised their earnings estimates downwards for the upcoming period and do not anticipate profitability for Pulmonx this year. Moreover, the company's revenue growth for the last twelve months was 27.98%, showing a positive trend in its ability to generate sales.
For those considering an investment in Pulmonx, it's worth noting that the company does not pay a dividend to shareholders, which may influence the investment strategy for income-focused portfolios. For a deeper dive into Pulmonx's financials and to access more InvestingPro Tips, visit https://www.investing.com/pro/LUNG. Subscribers can find additional tips, and new users can apply the coupon code PRONEWS24 to get an extra 10% off a yearly or biyearly Pro and Pro+ subscription.
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