Picard Medical, Inc.

Picard Medical, Inc. is a medical technology company headquartered in Tucson, Arizona, focused on developing and commercializing total artificial heart therapy. Its mission is to pioneer the future of heart replacement by providing the world's first Total Artificial Heart and advancing next-generation systems as alternatives to transplantation.

The company's primary product is the SynCardia Total Artificial Heart (TAH), an implantable device approved by the U.S. FDA and Health Canada. This device is designed to replace a failing human heart in patients suffering from advanced or end-stage heart failure, serving as a bridge to heart transplantation. The SynCardia TAH has been implanted in over 2,100 patients across 27 countries, making it the most widely used and studied artificial heart globally. Picard Medical is also actively developing future technologies, including the fully implantable "Emperor" Total Artificial Heart and next-generation portable drivers.

Led by CEO Patrick NJ Schnegelsberg, Picard Medical, Inc. is publicly traded on the NYSE American under the ticker PMI. In May 2026, the company announced the pricing of a $5 million stock offering and reported preliminary unaudited first-quarter 2026 revenues of $1.1 million, an increase of nearly 80% year-over-year. Despite its market position as the sole provider of a commercially available FDA and Health Canada-approved total artificial heart, the company has faced financial challenges, including negative gross profit margins and an auditor's "going concern" qualification. Additionally, an investigation into potential corporate wrongdoing was announced in May 2026.