The following is a summary of the Pulse Biosciences, Inc. (PLSE) Q3 2024 Earnings Call Transcript:

Financial Performance:

• In Q3 2024, GAAP costs and expenses increased by $2.4 million to $13.7 million, primarily driven by an increase in non-cash stock-based compensation, reaching $3 million.

• Non-GAAP costs and expenses were up $1.2 million, reaching $10.4 million.

• GAAP net loss widened in Q3 2024 to $12.7 million, up from $10.6 million a year earlier, whereas the non-GAAP net loss increased to $9.4 million from $8.5 million.

• After completing a rights offering in July, raising $60 million, cash and equivalents stood at $79 million as of September 30, 2024.

Business Progress:

• Pulse Biosciences achieved significant clinical advancements with their proprietary Nano-PFA technology in treating Atrial Fibrillation and other soft tissue conditions.

• Received U.S. FDA breakthrough device designation for their Cardiac Surgical System and launched pivotal studies to support future commercial applications.

• Expanded the pilot program under no-cost evaluation agreements in the U.S. to further refine procedural techniques using nano-PFA for benign thyroid nodules treatment.

Opportunities:

• The use of nano-PFA in treating benign thyroid nodules presents a market potential exceeding $1 billion annually, with promising early clinical experiences underlining the technology's potential to offer minimally invasive and effective treatment solutions.

• Increased focus on cardiological applications, particularly through nano-PFA-enhanced catheters and surgical systems, aimed at significant improvements in patient outcomes in Atrial Fibrillation treatments.

Risks:

• The nano-PFA technology's adoption and efficacy are still being evaluated in clinical settings, requiring further evidence to establish its superiority and safety over existing treatment options.

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