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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Pulse Biosciences Inc | NASDAQ:PLSE | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-0.28 | -3.62% | 7.45 | 7.12 | 7.55 | 7.85 | 7.42 | 7.64 | 233,503 | 23:55:19 |
Investor conference call today at 1:30 p.m. PST / 4:30 p.m. EST
Pulse Biosciences, Inc. (NASDAQ: PLSE), a medical technology company developing a proprietary therapeutic tissue treatment based on its Nano-Pulse Stimulation (NPS) platform, today reports recent corporate developments and financial results for the quarter ended September 30, 2017.
Recent Developments
“We continue to make meaningful progress toward our goal of delivering NPS as a novel therapeutic option that could represent a significant improvement over current treatment modalities in oncology and other indications,” said Darrin Uecker, President and Chief Executive Officer of Pulse Biosciences. “In our animal lab work we continue to generate data informing us as to the potential range, reach and impact of our technology in treating lesions and tumors as well as in stimulating the immune system via our unique Nano-Pulse Stimulation therapy.”
Financial Highlights
Cash and investments totaled $42.0 million at September 30, 2017, compared to $16.4 million at December 31, 2016, reflects the proceeds from the $30 million financing completed in September. Cash use for the three- and nine-month periods ended September 30, 2017 totaled $3.2 million and $9.2 million, respectively.
Operating expenses for the three-month period ended September 30, 2017, totaled $7.5 million, compared to $6.2 million for the three-month period ended June 30, 2017, and $2.8 million for the three-month period ended September 30, 2016. Operating expenses for the three-month period ended September 30, 2017, include non-cash stock-based compensation of $3.4 million, compared to $2.8 million for the quarter ended June 30, 2017 and $0.2 million for the quarter ended September 30, 2016.
Conference Call Details
Pulse Biosciences’ Darrin Uecker, President and Chief Executive Officer, and other senior executives will host the investor call on November 7, 2017, at 1:30 p.m. PST / 4:30 p.m. EST. The telephone dial-in number for the call is (844) 494-0190 (U.S. toll-free) or (508) 637-5580 (international) using Conference ID 1522560. Listeners will also be able to access the call via webcast available on the Investors section of the Company’s website at www.pulsebiosciences.com.
About Pulse Biosciences
Pulse Biosciences is a medical technology company developing a therapeutic tissue treatment platform based on Nano-Pulse Stimulation (NPS), a proprietary high-speed cell signaling technology. NPS is a non-thermal, precise, focal drug-free tissue treatment technology that directly affects the cell membrane and intracellular structures to stimulate unique behaviors in cells. NPS can initiate a cell death process. That process provides a means for the treatment of tissue cells with minimal inflammatory response. This has the potential to improve healing outcomes. This process may also contribute to the replacement of treated tissue cells with healthy new tissue cells. In cancerous lesions, NPS has been shown in preclinical models to induce immunogenic cell death (ICD) exposing the unique antigens of the treated cells to the immune system, resulting in the generation of cytotoxic T-cells and the mounting of an adaptive immune response targeted against those cells. Pulse Biosciences is investigating a variety of applications for its technology that exploits the technology’s unique biologic effect. More information is available at www.pulsebiosciences.com.
Forward-Looking Statements
All statements in this press release that are not historical are forward-looking statements, including, among other things, statements relating to Pulse Biosciences’ expectations regarding regulatory clearance and the timing of FDA filings or approvals, the mechanism of action of NPS treatments, current and planned future clinical studies, other matters related to its pipeline of product candidates, future financial performance and other future events. These statements are not historical facts but rather are based on Pulse Biosciences’ current expectations, estimates, and projections regarding Pulse Biosciences’ business, operations and other similar or related factors. Words such as “may,” “will,” “could,” “would,” “should,” “anticipate,” “predict,” “potential,” “continue,” “expects,” “intends,” “plans,” “projects,” “believes,” “estimates,” and other similar or related expressions are used to identify these forward-looking statements, although not all forward-looking statements contain these words. You should not place undue reliance on forward-looking statements because they involve known and unknown risks, uncertainties, and assumptions that are difficult or impossible to predict and, in some cases, beyond Pulse Biosciences’ control. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described in Pulse Biosciences’ filings with the Securities and Exchange Commission. Pulse Biosciences undertakes no obligation to revise or update information in this release to reflect events or circumstances in the future, even if new information becomes available.
PULSE BIOSCIENCES, INC. Condensed Consolidated Balance Sheets (Unaudited) September 30, December 31,(in thousands)
2017 2016 ASSETS Current assets: Cash and investments $ 42,041 $ 16,395 Prepaid expenses and other current assets 512 268 Total current assets 42,553 16,663 Leasehold improvements and equipment, net of Accumulated depreciation 2,635 317 Intangible assets, net of accumulated amortization 6,044 6,543 Goodwill 2,791 2,791 Other assets 101 - Total assets $ 54,124 $ 26,314 LIABILITIES AND STOCKHOLDERS’ EQUITY Current liabilities: Accounts payable $ 914 $ 265 Accrued expenses 1,168 751 Deferred rent, current 392 - Total current liabilities 2,474 1,016 Long term liabilities: Deferred rent 1,715 - Total liabilities4,189
1,016
Stockholders’ equity: Common stock 79,407 37,911 Accumulated other comprehensive loss (2) (7) Accumulated deficit (29,470) (12,606) Total stockholders’ equity 49,935 25,298 Total liabilities and stockholders’ equity $ 54,124 $ 26,314 PULSE BIOSCIENCES, INC. Condensed Consolidated Statements of Operations (Unaudited) Three-Month Periods Ended September 30, June 30, September 30,(in thousands, except per share amounts)
2017 2017 2016 Revenue $ — $ — $ — Operating expenses: General and administrative 4,159 3,772 893 Research and development 3,200 2,282 1,739 Amortization of intangible assets 166 167 166 Total operating expenses 7,525 6,221 2,798 Other income: Interest income 39 41 31 Total other income 39 41 31 Net loss $ (7,486) $ (6,180) $ (2,767) Net loss per share: Basic and diluted net loss per share $ (0.52) $ (0.43) $ (0.21) Weighted average shares used to compute net loss per common share — basic and diluted 14,381 14,233 13,315 PULSE BIOSCIENCES, INC. Condensed Consolidated Statements of Operations (Unaudited) Nine-Month Periods Ended September 30, September 30,(in thousands, except per share amounts)
2017 2016 Revenue $ — $ — Operating expenses: General and administrative 9,151 2,063 Research and development 7,333 4,182 Amortization of intangible assets 499 499 Total operating expenses 16,983 6,744 Other income: Interest income 119 35 119 35 Net loss $ (16,864) $ (6,709) Net loss per share: Basic and diluted net loss per share $ (1.19) $ (0.66) Weighted average shares used to compute net loss per common share — basic and diluted 14,141 10,235
View source version on businesswire.com: http://www.businesswire.com/news/home/20171107006773/en/
Pulse Biosciences, Inc.Investors:Brian DowSr. Vice President and Chief Financial OfficerIR@pulsebiosciences.comorThe Trout GroupMike Zanoni, 646-378-2924mzanoni@troutgroup.comorMedia:Sam Brown, Inc.Christy Curran, 615-414-8668christycurran@sambrown.com
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