Business
Pulse Biosciences Reports Fourth Quarter & Full Year 2022 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 electrophysiology and the treatment of atrial fibrillation, today announced financial results for the fourth quarter and full year ended December 31, 2022.\n\nCompany Updates\n\n\nAnnounced the progression of its corporate strategy elevating the focus on the development of nsPFA delivery devices, including a clamp and catheter, for cardiac ablation to treat atrial fibrillation (AF) in both the surgical and electrophysiology lab settings. Current company focus:\n\n\nDevelop and advance the cardiac clamp through the appropriate FDA regulatory path\n\n\nComplete all catheter product and regulatory milestones required to treat patients\n\n\n\n\nCompleted cardiac ablation clamp commercial design. Pre-submission meeting with FDA planned for 2Q23 to discuss the regulatory requirements.\n\n\nAdvanced development of the nsPFA cardiac ablation catheter system intending to pursue a first-in-human safety feasibility study.\n\n\nAF Symposium poster presentation demonstrated the ability of the Company’s nsPFA catheter system to perform cardiac ablation and mapping with a single catheter in preclinical studies.\n\n\nReduced fourth quarter 2022 cash usage to $8.0 million dollars, a reduction of $2.6 million compared to the third quarter of 2022 and in line with prior guidance, and cash on hand is expected to be sufficient to fund planned operations into the third quarter of 2024.\n\n\nExtended the maturity date of the loan facility from Robert Duggan to September 2024.\n\n\n“As a bioelectric medicine company committed to health innovation, shifting our focus to the treatment of atrial fibrillation is intended to maximize the benefit our technology can provide patients and the value we can create as a company. Based on our preclinical evidence, we believe the delivery of nsPFA utilizing the CellFX System with our clamp and catheter devices will offer a differentiated and improved safety and efficacy profile for cardiac ablation,” said Kevin Danahy, Chief Executive Officer of Pulse Biosciences. “In 2023 we will remain laser focused on advancing the development and regulatory progress for both devices.”\n\nFourth Quarter 2022 Results\n\nAs a result of the discontinuatio...