Business
Pulse Biosciences Reports Business Updates and Second Quarter 2023 Financial Results
HAYWARD, Calif.--(BUSINESS WIRE)-- Pulse Biosciences, Inc. (Nasdaq: PLSE), a company primarily focused on leveraging its novel and proprietary Nanosecond
About this update from Pulse Biosciences, Inc
[{"type":"text","content":" HAYWARD, Calif.--(BUSINESS WIRE)--\nPulse Biosciences, Inc. (Nasdaq: PLSE), a company primarily focused on leveraging its novel and proprietary Nanosecond Pulsed Field Ablation (nsPFA) technology for the treatment of atrial fibrillation, today announced financial results for the second quarter ended June 30, 2023.\n\n\nBusiness Updates\n\n\n\nDemonstrated that an nsPFA cardiac clamp can consistently perform transmural ablations in cardiac muscle up to approximately 25 millimeters thick in 1.25 seconds in preclinical studies.\n\n\n\nDemonstrated that an nsPFA cardiac ablation catheter can consistently perform circumferential ablations of targeted pulmonary veins in a single shot in approximately 5 seconds in preclinical studies.\n\n\n\nThree abstracts highlighting the results of preclinical studies using an nsPFA cardiac ablation catheter device were presented by physician collaborators at the Annual Heart Rhythm Society Meeting.\n\n\n\nAchieved positive patient tolerance, safety and tissue response in a first-in-human feasibility study of nsPFA delivery for the ablation of benign thyroid nodules.\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\nFurther strengthened the balance sheet with gross proceeds of $14.6 million in the second quarter through the exercise of warrants from the Company’s June 2022 Rights Offering.\n\n\n\n“We are encouraged by the preclinical results we have achieved with the nsPFA cardiac clamp and catheter products. Our novel devices, combined with our unique mechanism of action, are demonstrating the potential to advance the standard of care for the treatment of atrial fibrillation. Additionally, we view the preliminary findings in our first-in-human feasibility study using our proprietary nsPFA surgical end-effector to ablate benign thyroid nodules as a significant validation of our engineering and the potential for nsPFA to deliver safe and effective human tissue ablation in surgery,” said Kevin Danahy, Chief Executive Officer of Pulse Biosciences. “Looking ahead, we remain focused on gaining clearance for a cardiac ablation clamp and advancing the catheter toward first-in-human studies.”\n\n\nSecond Quarter 2023 Results\n\n\nTotal GAAP cost a...