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Pulse Biosciences Q1 2025 Earnings Report
Pulse Biosciences reported business updates and financial results for the first quarter ended March 31, 2025.
Key Takeaways
Pulse Biosciences reported a net loss of $16.795 million for Q1 2025, an increase from $10.137 million in Q1 2024. Total costs and expenses increased significantly, driven by non-cash stock-based compensation and administrative expenses. The company is advancing its nsPFA technology with several clinical trials and commercialization efforts.
Total GAAP costs and expenses for Q1 2025 were $18.0 million, up from $10.6 million in the prior year period.
GAAP net loss for Q1 2025 was $16.795 million, compared to $10.137 million in Q1 2024.
Cash and cash equivalents totaled $119.3 million as of March 31, 2025, including $14.1 million from warrant exercises.
The company is expanding commercial resources for the nsPFA Percutaneous Electrode launch in H2 2025 and commencing new U.S. clinical trials for its nsPFA systems.
Forward Guidance
Pulse Biosciences anticipates expanding commercial efforts and launching the nsPFA Percutaneous Electrode System in the second half of 2025, alongside commencing U.S. IDE pivotal clinical studies for its nsPFA Cardiac Surgery System and nsPFA 360 Cardiac Catheter System in mid-2025.
Positive Outlook
- Expanded direct commercial resources for the launch of the nsPFA Percutaneous Electrode expected in the second half of 2025.
- Expects to commence a U.S. clinical trial in mid-2025 for the nsPFA Percutaneous Electrode System as a treatment for benign thyroid nodules.
- Received EU approval to expand the clinical protocol for the nsPFA Cardiac Surgery System multi-center, first-in-human atrial fibrillation (AF) feasibility study.
- Continuing to advance an IDE and remaining on track to receive approval to commence a pivotal clinical trial in mid-2025 for FDA approval of AF treatment.
- Expects to commence a U.S. IDE pivotal clinical study for the nsPFA 360° catheter sometime in the middle of 2025.
Challenges Ahead
- No specific negative forward guidance was provided in the report.
- The company's financial performance is subject to risks and uncertainties inherent in clinical trials and regulatory approvals.
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