Picard Medical Changes CEO, Richard Fang Appointed Interim CEO
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jun 24 2026
0mins
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.
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About PMI
Picard Medical, Inc. is a holding company that owns a 100% interest in SynCardia Systems, LLC (SynCardia). SynCardia is a medical technology company that manufactures and sells the only United States Food and Drug Administration (FDA) and Health Canada-approved implantable total artificial heart (SynCardia TAH). The SynCardia TAH is a biventricular replacement device that consists of the SynCardia TAH implant, an external pneumatic driver that delivers precisely calibrated pulses of air to drive the implant, and drivelines that connect the driver to the implant. The SynCardia TAH implant is a system that consists of two independent artificial ventricles which are powered by an external pneumatic driver. Each artificial ventricle is made of a semi-rigid polyurethane housing and a rigid polyurethane base, with a four-layer flexible polyurethane diaphragm separating the blood chamber from the air chamber.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Investigation into Picard Medical's Shareholder Lawsuit
- Shareholder Lawsuit Investigation: Kuehn Law, PLLC is investigating whether certain officers and directors of Picard Medical, Inc. breached their fiduciary duties to shareholders, as the lawsuit alleges fraudulent stock promotion activities affecting shareholder rights.
- False Information Spread: The lawsuit claims that Picard Medical was involved in fraudulent activities through social media misinformation and impersonation of financial professionals, leading to artificially inflated stock prices and investor losses.
- Insider Trading Allegations: The investigation also reveals that insiders and affiliates used offshore or nominee accounts to facilitate coordinated share dumping during price inflation campaigns, further harming shareholder interests.
- Lack of Disclosure: Picard Medical's public statements and risk disclosures omitted any mention of false rumors and artificial trading activities, preventing investors from fully understanding potential risks and impacting market fairness.
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Leadership Transition at Picard Medical
- Leadership Change: Picard Medical announced the resignation of CEO Patrick NJ Schnegelsberg effective June 18, 2026, marking a significant shift in the company's leadership that may impact investor confidence and strategic direction.
- Interim CEO Appointment: The board has appointed Richard Fang as interim CEO effective immediately, who will also continue as chairman, ensuring leadership stability during the transition period aimed at maintaining operational continuity.
- Search for Permanent CEO: The board has initiated a search process for a permanent CEO, which may take time and could affect the company's strategy and decision-making during this interim period, prompting investors to monitor developments closely.
- Market Reaction Watch: In light of the executive transition, Picard Medical's stock may experience short-term volatility, particularly in the healthcare sector where leadership stability is crucial for company performance.
See More
Investigation into Picard Medical Shareholder Lawsuit
- Shareholder Lawsuit Investigation: Kuehn Law, PLLC is investigating whether officers of Picard Medical Inc. breached their fiduciary duties to shareholders, with allegations that the company failed to disclose involvement in a fraudulent stock promotion scheme, potentially harming shareholder interests.
- False Promotion Issues: According to a federal securities lawsuit, Picard Medical is accused of being subjected to false promotions on social media, involving impersonated financial professionals, which could severely mislead investor decisions.
- Insider Trading Allegations: The investigation reveals that insiders and/or affiliates of Picard may have used offshore or nominee accounts to facilitate coordinated share dumping during a price inflation campaign, raising further concerns about corporate governance.
- Disclosure Failures: Picard's public statements and risk disclosures omitted any mention of false rumors and artificial trading activity, which could expose shareholders to significant risks in their investment decisions.
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- Shareholder Lawsuit Investigation: Kuehn Law, PLLC is investigating whether executives at Picard Medical Inc. breached their fiduciary duties to shareholders, with allegations centered around the company's failure to disclose critical information in a securities fraud case.
- False Promotion Exposure: The lawsuit reveals that Picard Medical was involved in a fraudulent stock promotion scheme that utilized social media misinformation and impersonated financial professionals, resulting in shareholder losses.
- Insider Trading Allegations: Insiders and affiliates are accused of using offshore or nominee accounts to facilitate coordinated stock dumping during a price inflation campaign, raising further concerns about corporate governance.
- Disclosure Failures: Picard Medical's public statements and risk disclosures omitted any mention of false rumors and artificial trading activities, leading to investor misconceptions about the company's true financial condition, which could impact future investment decisions.
See More
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Investigation into Picard Medical's Shareholder Lawsuit
- Shareholder Lawsuit Investigation: Kuehn Law, PLLC is investigating whether certain officers and directors of Picard Medical, Inc. breached their fiduciary duties to shareholders, as the lawsuit alleges fraudulent stock promotion activities affecting shareholder rights.
- False Information Spread: The lawsuit claims that Picard Medical was involved in fraudulent activities through social media misinformation and impersonation of financial professionals, leading to artificially inflated stock prices and investor losses.
- Insider Trading Allegations: The investigation also reveals that insiders and affiliates used offshore or nominee accounts to facilitate coordinated share dumping during price inflation campaigns, further harming shareholder interests.
- Lack of Disclosure: Picard Medical's public statements and risk disclosures omitted any mention of false rumors and artificial trading activities, preventing investors from fully understanding potential risks and impacting market fairness.
See More
Leadership Transition at Picard Medical
- Leadership Change: Picard Medical announced the resignation of CEO Patrick NJ Schnegelsberg effective June 18, 2026, marking a significant shift in the company's leadership that may impact investor confidence and strategic direction.
- Interim CEO Appointment: The board has appointed Richard Fang as interim CEO effective immediately, who will also continue as chairman, ensuring leadership stability during the transition period aimed at maintaining operational continuity.
- Search for Permanent CEO: The board has initiated a search process for a permanent CEO, which may take time and could affect the company's strategy and decision-making during this interim period, prompting investors to monitor developments closely.
- Market Reaction Watch: In light of the executive transition, Picard Medical's stock may experience short-term volatility, particularly in the healthcare sector where leadership stability is crucial for company performance.
See More
Investigation into Picard Medical Shareholder Lawsuit
- Shareholder Lawsuit Investigation: Kuehn Law, PLLC is investigating whether officers of Picard Medical Inc. breached their fiduciary duties to shareholders, with allegations that the company failed to disclose involvement in a fraudulent stock promotion scheme, potentially harming shareholder interests.
- False Promotion Issues: According to a federal securities lawsuit, Picard Medical is accused of being subjected to false promotions on social media, involving impersonated financial professionals, which could severely mislead investor decisions.
- Insider Trading Allegations: The investigation reveals that insiders and/or affiliates of Picard may have used offshore or nominee accounts to facilitate coordinated share dumping during a price inflation campaign, raising further concerns about corporate governance.
- Disclosure Failures: Picard's public statements and risk disclosures omitted any mention of false rumors and artificial trading activity, which could expose shareholders to significant risks in their investment decisions.
See More
Picard Medical Executives Allegedly Breached Fiduciary Duties
- Shareholder Lawsuit Investigation: Kuehn Law, PLLC is investigating whether executives at Picard Medical Inc. breached their fiduciary duties to shareholders, with allegations centered around the company's failure to disclose critical information in a securities fraud case.
- False Promotion Exposure: The lawsuit reveals that Picard Medical was involved in a fraudulent stock promotion scheme that utilized social media misinformation and impersonated financial professionals, resulting in shareholder losses.
- Insider Trading Allegations: Insiders and affiliates are accused of using offshore or nominee accounts to facilitate coordinated stock dumping during a price inflation campaign, raising further concerns about corporate governance.
- Disclosure Failures: Picard Medical's public statements and risk disclosures omitted any mention of false rumors and artificial trading activities, leading to investor misconceptions about the company's true financial condition, which could impact future investment decisions.
See More
Biotech Stocks Pre-Market Trading Insights
- Significant Pre-Market Gains: Picard Medical, Inc. (PMI) surged 34% to $0.36 in pre-market trading, indicating strong investor interest likely driven by positive clinical trial updates, which may attract further investment.
- Other Gaining Stocks: Connect Biopharma Holdings Limited (CNTB) rose 14% to $2.44, while LifeVantage Corporation (LFVN) increased 10% to $9.46, suggesting an improving investor sentiment in the biotech sector that could enhance overall industry performance.
- Pre-Market Decliners: TransCode Therapeutics, Inc. (RNAZ) fell 22% to $4.13, reflecting negative market reactions to recent news, which may lead investors to reassess its future prospects.
- Market Sentiment Impact: The overall pre-market trading indicates volatility in biotech stocks, prompting investors to closely monitor clinical trial results and corporate developments to make more informed investment decisions.
See More
Bluejay Diagnostics Partners with Argonaut, Shares Surge 100%
- Bluejay Partnership: Bluejay Diagnostics Inc. (BJDX) has entered a strategic partnership with Argonaut Manufacturing Services to advance its Symphony platform, leading to a 100% surge in share price to $4.34 on Tuesday, reflecting strong market confidence in its innovative diagnostic technology.
- Device Advantages: The Symphony platform can provide highly sensitive test results using just three drops of blood in about 20 minutes without additional reagents or sample preparation, significantly enhancing the simplicity and efficiency of clinical laboratory testing, which is expected to transform diagnostic practices in critical care.
- Picard Medical Progress: Picard Medical Inc. (PMI) successfully completed animal implant studies for its next-generation artificial heart platform at the University of Arizona, resulting in a 60.33% increase in share price, showcasing its technological advancements and market potential in cardiac treatment.
- Clinical Data Highlights: Legend Biotech Corp. (LEGN) will present promising preliminary Phase 1 data for LB2501 targeting relapsed/refractory B-cell non-Hodgkin lymphoma at the upcoming European Hematology Association Congress, demonstrating a 100% objective response rate, further solidifying its competitive position in the biopharmaceutical sector.
See More
