Business
Pulse Biosciences Reports Business Updates and First Quarter 2023 Financial Results
HAYWARD, Calif.--(BUSINESS WIRE)-- Pulse Biosciences, Inc. (Nasdaq: PLSE), a company leveraging its novel and proprietary nanosecond pulsed field ablation
About this update from Pulse Biosciences, Inc
[{"type":"text","content":" HAYWARD, Calif.--(BUSINESS WIRE)--\nPulse Biosciences, Inc. (Nasdaq: PLSE), a company leveraging its novel and proprietary nanosecond pulsed field ablation (nsPFA™) technology for the treatment of atrial fibrillation, today announced financial results for the first quarter ended March 31, 2023.\n\n\nBusiness Updates\n\n\n\nAnnounced the appointment of Gansevoort “Gan” Dunnington, MD, as Chief Medical Officer, Cardiac Surgery; Dr. Dunnington is a key opinion leading cardiothoracic surgeon pioneering novel less-invasive technologies to improve the lives of patients with atrial fibrillation.\n\n\n\nCompleted a pre-submission meeting with the FDA to review the regulatory requirements for the Company’s nsPFA surgical ablation clamp as part of the standard Q-submission process; expect continued engagement with FDA to finalize the regulatory path for the device.\n\n\n\nContinued development across several preclinical studies for the Company’s nsPFA cardiac ablation catheter device to support a first-in-human feasibility study.\n\n\n\nEntered into a $65 million private placement stock purchase agreement with Robert Duggan, the Company’s Executive Chairman, effectively canceling all indebtedness owed by the Company to Mr. Duggan.\n\n\n\nAnnounced decision to redeem all outstanding warrants from the Company’s June 2022 Rights Offering; the exercise of warrants in 2023 represents an opportunity to raise up to an additional $15.0 million for the Company.\n\n\n\n“In the first quarter we advanced our preclinical and regulatory objectives for our two novel nsPFA devices, the surgical ablation clamp and cardiac ablation catheter. Our preclinical evidence continues to demonstrate differentiated benefits of nsPFA that we believe can advance the treatment of atrial fibrillation,” said Kevin Danahy, Chief Executive Officer of Pulse Biosciences. “We are excited to expand our leadership team with the appointment of our Chief Medical Officer, Dr. Gan Dunnington. He has been actively involved with the preclinical studies of our nsPFA surgical ablation clamp and shares our enthusiasm about the potential of the technology. His continued contributions will be extremely valuable as we advance clinical, regulatory, and potential commercialization of the device.”\n\n\nFirst Quarter 2023 Results\n\n\nTotal GAAP cost and expenses, representing cost of revenue...