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Sep 30, 2024
Pulse Biosciences Q3 2024 Earnings Report
Announced third quarter results, highlighting progress in nano-PFA technology and preparations for pivotal clinical trials.
Key Takeaways
Pulse Biosciences reported a GAAP net loss of $12.7 million for the third quarter of 2024, compared to a net loss of $10.6 million for the same period in 2023. The company's cash and cash equivalents totaled $79.0 million as of September 30, 2024, which includes $60 million in gross proceeds from a rights offering that closed in July 2024.
Made significant progress toward delivering the benefits of nano-PFA to patients and providers.
Clinical work suggests nano-PFA technology has the potential to improve treatments for several disease states.
Positioned to begin pivotal clinical trials in the U.S. for each device next year and share select European trial data at medical conferences.
Building team and infrastructure to support clinical and regulatory initiatives and anticipated growth.
Pulse Biosciences
Pulse Biosciences
Forward Guidance
Pulse Biosciences is gearing up for pivotal clinical trials in the U.S. for each device next year and plans to share select European trial data at medical conferences. The company is also expanding its team and infrastructure to support clinical and regulatory initiatives and anticipated growth.
Positive Outlook
- Potential to improve treatments for several disease states.
- Advancement of nano-PFA devices.
- Rights offering closed in July of 2024.
- Warrants are exercisable immediately.
- Building team and infrastructure required to support clinical and regulatory initiatives and anticipated growth, starting with commercial use of the nsPFA Percutaneous Electrode System in the coming quarters.
Challenges Ahead
- GAAP net loss for the three months ended September 30, 2024 was ($12.7) million compared to ($10.6) million for the three months ended September 30, 2023.
- Non-GAAP net loss for the three months ended September 30, 2024 was ($9.4) million compared to ($8.5) million for the three months ended September 30, 2023.
- The Company has the potential to raise an additional up to $66 million through the exercise of warrants associated with this rights offering.
- Words such as “may,” “will,” “could,” “would,” “should,” “anticipate,” “predict,” “potential,” “continue,” “expects,” “intends,” “plans,” “projects,” “believes,” “estimates,” and other similar or related expressions are used to identify these forward-looking statements, although not all forward-looking statements contain these words.
- Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described in Pulse Biosciences’ filings with the Securities and Exchange Commission.