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Pulse Biosciences, Inc. (PLSE) SEC Filing 10-Q Quarterly Report for the period ending Thursday, September 30, 2021

Pulse Biosciences, Inc.

CIK: 1625101 Ticker: PLSE

Pulse Biosciences Reports Second Quarter 2021 Financial Results



HAYWARD, Calif. [Business Wire] – August 9, 2021

– Pulse Biosciences, Inc. (Nasdaq: PLSE), a novel bioelectric medicine company commercializing the CellFX® System powered by Nano-Pulse Stimulation™ (NPS™) technology, today announced financial results for the second quarter of 2021.



Recent Highlights

·

CellFX System Controlled Launch Program participants totaled 49 at the end of the second quarter, including 34 onboarded during the second quarter across the U.S., Europe and Canada, on track to complete program onboarding of the Key Opinion Leader (KOL) sites by the end of the third quarter

·

Initiated the transition of clinics from the Controlled Launch Program to commercial use as clinics opt to acquire the CellFX System

·

Achieved Health Canada Approval for the CellFX System and expanded the Controlled Launch into Canada with the onboarding of the first clinic and completion of the first procedures

·

Completed enrollment of 127 of the expected 150 patients in an FDA IDE approved pivotal comparison study to assess the treatment of cutaneous non-genital warts using the CellFX System, enrollment is on track to be completed by the end of the third quarter

·

Enrolled 18 of 30 patients as part of a study to assess the treatment of basal cell carcinoma using the CellFX System, enrollment is on track to be completed by the end of the third quarter

·

Four podium presentations of clinical studies highlighting NPS technology were delivered by leading dermatologic researchers at the American Society for Laser Medicine and Surgery (ASLMS) Virtual Annual Meeting in May

·

Completed $50 million common stock private placement with the Company’s Chairman Robert W. Duggan, including the extinguishment of the principal balance and accrued and unpaid interest of the March 11, 2021 term-loan and the investment of $8.4 million of new capital



“We are pleased with the progress across the business in the second quarter. We onboarded a significant number of controlled launch participant clinics, including in Canada following the achievement of Health Canada approval for the CellFX System and continued to make progress on our clinical initiatives intended to broaden the CellFX System’s applications in aesthetic dermatology and beyond,” said Darrin Uecker, President and CEO of Pulse Biosciences. “With this progress and anticipated ongoing commercial conversions of controlled launch participants, we are well positioned to drive growth through increased adoption of CellFX procedures. We look forward to a broader commercial launch late in the year and toward delivering the benefits of NPS technology to more patients and clinicians.” 



Second Quarter 2021 Results

Cash, cash equivalents and investments totaled $47.4 million as of June 30, 2021 compared to $59.9 million as of March 31, 2021. The cash balance as of June 30, 2021 excludes approximately $8.4 million of private placement proceeds received in July 2021. Cash used in the second quarter of 2021 totaled $15.0 million excluding net proceeds received under the Company’s ATM program. Cash used in the second quarter of 2021 included the payment of $2.5 million to Mr. Duggan in accordance with the with terms of the May 2020 Letter Agreement whereby Mr. Duggan provided indemnity coverage on substantially the same terms as the Company’s prior director and officer liability insurance program. This compares with $7.9 million used in the same period in the prior year and $10.7 million used in the first quarter of 2021.



 

 

 


The following information was filed by Pulse Biosciences, Inc. (PLSE) on Monday, August 9, 2021 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Pulse Biosciences, Inc.'s 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Document And Entity Information
Condensed Consolidated Balance Sheets
Condensed Consolidated Balance Sheets (Parenthetical)
Condensed Consolidated Statements Of Cash Flows
Condensed Consolidated Statements Of Operations And Comprehensive Loss
Condensed Consolidated Statements Of Stockholders' Equity
Condensed Consolidated Statements Of Stockholders' Equity (Parenthetical)
Balance Sheet Components
Balance Sheet Components (Narrative) (Details)
Balance Sheet Components (Schedule Of Accrued Expenses) (Details)
Balance Sheet Components (Schedule Of Amortization Of Intangible Assets) (Details)
Balance Sheet Components (Schedule Of Intangible Assets, Net) (Details)
Balance Sheet Components (Schedule Of Inventory) (Details)
Balance Sheet Components (Schedule Of Property And Equipment, Net) (Details)
Balance Sheet Components (Tables)
Commitments And Contingencies
Commitments And Contingencies (Narrative) (Details)
Commitments And Contingencies (Schedule Of Information Related To Right-Of-Use Assets And Lease Liabilities) (Details)
Commitments And Contingencies (Schedule Of Maturity Lease Payments) (Details)
Commitments And Contingencies (Tables)
Controlled Launch
Controlled Launch (Narrative) (Details)
Description Of The Business
Fair Value Of Financial Instruments
Fair Value Of Financial Instruments (Fair Value Of Financial Assets Measured On A Recurring Basis) (Details)
Fair Value Of Financial Instruments (Narrative) (Details)
Fair Value Of Financial Instruments (Tables)
Goodwill
Goodwill (Narrative) (Details)
Related Party Transactions
Related Party Transactions (Narrative) (Details)
Research Grants And Agreements
Research Grants And Agreements (Narrative) (Details)
Revenue
Segment And Geographic Information
Segment Reporting (Details)
Segment Reporting (Tables)
Stockholders' Equity And Stock-Based Compensation
Stockholders' Equity And Stock-Based Compensation (Narrative) (Details)
Stockholders' Equity And Stock-Based Compensation (Schedule Of Fair Value Of Employee Stock Options) (Details)
Stockholders' Equity And Stock-Based Compensation (Schedule Of Stock-Based Compensation Expense) (Details)
Stockholders' Equity And Stock-Based Compensation (Summary Of Stock Option Activity) (Details)
Stockholders' Equity And Stock-Based Compensation (Summary Of Stock Warrant Activity) (Details)
Stockholders' Equity And Stock-Based Compensation (Summary Of Stock-Based Compensation Expense) (Details)
Stockholders' Equity And Stock-Based Compensation (Tables)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (Anti-Dilutive Shares Excluded From Computation Of Diluted Net Loss Per Share) (Details)
Summary Of Significant Accounting Policies (Narrative) (Details)
Summary Of Significant Accounting Policies (Policy)
Summary Of Significant Accounting Policies (Schedule Of Warranty Accrual Activity) (Details)
Summary Of Significant Accounting Policies (Tables)

Material Contracts, Statements, Certifications & more

Pulse Biosciences, Inc. provided additional information to their SEC Filing as exhibits

Ticker: PLSE
CIK: 1625101
Form Type: 10-Q Quarterly Report
Accession Number: 0001625101-21-000054
Submitted to the SEC: Mon Nov 15 2021 4:45:40 PM EST
Accepted by the SEC: Mon Nov 15 2021
Period: Thursday, September 30, 2021
Industry: Surgical And Medical Instruments And Apparatus

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