PMI News & Events

Picard Medical announced a leadership transition. Patrick Schnegelsberg has stepped down as CEO and as a member of the company's board of directors, effective June 18. The company said Schnegelsberg's departure was not the result of any disagreement with the company on any matter relating to its operations, policies, or practices. Effective June 18, the board appointed Richard Fang, executive chairman of the board, as interim CEO. Fang will serve as interim CEO while the board conducts a search for a permanent CEO and will continue serving as chairman of the board.

The company states: "Picard Medical announced the successful completion of an acute in vivo implant study series using the Company's next-generation Emperor Total Artificial Heart Platform at the University of Arizona and Banner University Medical Center in Tucson. The animal study evaluated the latest iteration of the Emperor TAH, an electromechanically actuated system designed to build upon the established blood-contacting architecture and extensive clinical experience of the SynCardia Total Artificial Heart while advancing patient mobility and supporting the future development of a fully implantable artificial heart system. Initial preclinical data from the first-generation Emperor TAH, completed in late 2025, were subsequently presented at the American College of Cardiology and at the International Society for Heart & Lung Transplantation 2026 conferences. Compared to the previous generation device, the latest iteration incorporates an independent dual motor ventricular system enabling side-specific control of systemic and pulmonary circulation. The system is designed to support physiologic responsiveness while preserving the underlying pumping principles and autoregulatory characteristics of the STAH." Shares are up 116% in pre-market at $0.36.