Mon, Aug 19, 8:32 PM (148 days ago)
For the second quarter of 2024, Pulse Biosciences, Inc. reported no product revenues, maintaining a consistent lack of revenue compared to the same period in 2023. Total expenses increased to $11.7 million from $10.2 million, primarily driven by higher research and development costs, including a rise in stock-based compensation. The net loss for the quarter was $11.4 million, a slight deterioration from $9.9 million in Q2 2023. Cash and cash equivalents decreased significantly to $26.2 million from $44.4 million at year-end 2023, largely due to ongoing operational losses. The company completed a rights offering in July 2024, raising approximately $60 million, which should support future operations. Looking ahead, Pulse continues to focus on developing its Nano-pulse Stimulation technology for various medical applications, particularly in cardiology. However, uncertainties remain regarding regulatory approvals and market adoption. The company must secure additional funding to sustain operations and advance product development, as it currently lacks significant revenue streams.