Q1 2024 Pulse Biosciences Inc Earnings Call Transcript
Key Points
- Pulse Biosciences Inc (PLSE) received FDA 510(k) clearance for its non-cardiac Cell XNSPF, enhancing its market position in soft tissue ablation.
- The company successfully treated 30 patients with thyroid disease using its SLFXNSPF system, demonstrating effective application and safety.
- Pulse Biosciences Inc (PLSE) has initiated multiple clinical trials across different indications, showing a proactive approach in expanding the applications of its technology.
- The rights offering approved by the Board of Directors could potentially raise up to $126 million if fully subscribed, providing significant financial resources for future growth.
- Pulse Biosciences Inc (PLSE) is set to feature prominently at the upcoming Heart Rhythm Society meeting with six poster presentations and live case presentations, increasing its visibility and credibility in the medical community.
- The company reported a GAAP net loss of $10.1 million in Q1 2024, indicating ongoing financial challenges.
- Cash and cash equivalents have decreased from $44.4 million at the end of 2023 to $34.9 million by March 31, 2024, showing significant cash usage.
- The FDA has requested clinical data for the Cell FXNSPFA surgical clamps, indicating potential delays and additional requirements before approval.
- No patients have yet been treated with the Cell FXNSPFA surgical clamps, suggesting that the product is still in early stages of development.
- The rights offering, while potentially beneficial, carries the risk of not being fully subscribed, which could impact the company's ability to secure needed capital.
Thanks and welcome to the Pulse Biosciences First Quarter 2024 financial results conference call. (Operator Instructions) As a reminder, this conference is being recorded.
It is now my pleasure to introduce your host, Trip Taylor. Please go ahead.
Thank you, operator. Before we begin, I'd like to inform you that comments and responses to your questions during today's call reflect management's views as of today, May seventh, 2024 only and will include forward-looking statements and opinions. Statements, including predictions, estimates, plans, expectations and other similar information. Actual results may differ materially from those expressed or implied as a result of certain risks and uncertainties. These risks and uncertainties are more fully described in our press release issued earlier today.
In our filings with the US Securities and Exchange Commission. Our SEC filings can be found on our website or on the SEC's website. Investors are cautioned not to place undue reliance on forward-looking
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