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Pulse Biosciences Inc (PLSE+2.56%) has submitted its Form 10-K filing for the fiscal year ended December 31, 2024.
The filing outlines the company's focus on developing its Nano-pulse Stimulation (NPS) technology, which delivers nanosecond-duration pulses of electrical energy to nonthermally clear or kill targeted cells. The company has developed the CellFX System, a delivery platform for NPS technology, and has shifted its focus from dermatology to cardiology and soft tissue ablation applications.
Pulse Biosciences reported no revenues for the fiscal year 2024, with research and development expenses increasing to $32.3 million from $27.8 million in 2023. The increase is attributed to higher stock-based compensation, compensation and employee-related expenses, and supplies.
General and administrative expenses rose to $23.9 million from $15.8 million in the previous year, due to increased stock-based compensation, legal settlements, and compensation expenses.
The company recorded a net loss of $53.6 million for the year, compared to a net loss of $42.2 million in 2023.
Pulse Biosciences completed a rights offering in July 2024, raising $60 million in gross proceeds. The offering involved the sale of units consisting of common stock and warrants.
The company has engaged in clinical studies for its nsPFA Percutaneous Electrode System and has received FDA 510(k) clearance for its use in soft tissue ablation. The company plans to pursue further clinical trials to support specific labeling indications.
Pulse Biosciences continues to rely on financing from equity offerings and debt to fund its operations, with significant investments made by Robert Duggan, the company's majority stockholder and Co-Chairman.
The company acknowledges its dependence on future financing and the potential impact of economic conditions on its ability to raise additional capital.
Pulse Biosciences operates one reportable segment focused on the research and development of its NPS technology, with its principal operating facility located in Hayward, California.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Pulse Biosciences Inc annual 10-K report dated March 31, 2025. To report an error, please email earnings@qz.com.