\nPulse Biosciences, Inc. (Nasdaq: PLSE), a company primarily focused on leveraging its novel and proprietary Nanosecond Pulsed Field Ablation (nsPFA) technology for the treatment of atrial fibrillation, today announced financial results for the second quarter ended June 30, 2023.<\/p>\n
Business Updates<\/b><\/p>\n \n\u201cWe are encouraged by the preclinical results we have achieved with the nsPFA cardiac clamp and catheter products. Our novel devices, combined with our unique mechanism of action, are demonstrating the potential to advance the standard of care for the treatment of atrial fibrillation. Additionally, we view the preliminary findings in our first-in-human feasibility study using our proprietary nsPFA surgical end-effector to ablate benign thyroid nodules as a significant validation of our engineering and the potential for nsPFA to deliver safe and effective human tissue ablation in surgery,\u201d said Kevin Danahy, Chief Executive Officer of Pulse Biosciences. \u201cLooking ahead, we remain focused on gaining clearance for a cardiac ablation clamp and advancing the catheter toward first-in-human studies.\u201d<\/p>\n Second Quarter 2023 Results<\/b><\/p>\n \nTotal GAAP cost and expenses, representing cost of revenues, research and development, sales and marketing, and general and administrative expenses, for the three months ended June 30, 2023, were $10.2 million compared to $14.3 million for the prior year period. Non-GAAP cost and expenses for the three months ended June 30, 2023, were $8.8 million compared to $12.2 million for the prior year period. The decrease in operating expenses compared to the prior year period was driven by the prior headcount reduction and restructuring.<\/p>\n \nGAAP net loss for the three months ended June 30, 2023 was ($9.9) million compared to ($14.0) million for the three months ended June 30, 2022. Non-GAAP net loss for the three months ended June 30, 2023, was ($8.5) million compared to ($11.9) million for the three months ended June 30, 2022.<\/p>\n \nCash and cash equivalents totaled $58.7 million as of June 30, 2023, compared to $14.8 million as of June 30, 2022 and $54.1 million as of March 31, 2023. Cash used in the second quarter of 2023 was $10.0 million compared to $12.8 million in the same period in the prior year and $7.2 million used in the first quarter of 2023. The increase of second quarter cash usage was primarily due to the timing of certain nonrecurring payments. In the second quarter of 2023, the Company received $14.6 million in gross proceeds from the exercise of warrants issued in its June 2022 rights offering.<\/p>\n \nReconciliations of GAAP to non-GAAP cost and expenses and net loss have been provided in the tables following the financial statements in this press release. An explanation of these measures is also included below under the heading \u201cNon-GAAP Financial Measures.\u201d<\/p>\n Webcast and Conference Call Information<\/b><\/p>\n PULSE BIOSCIENCES, INC.<\/b><\/p>\n<\/td>\n<\/tr>\n Condensed Consolidated Balance Sheets<\/b><\/p>\n<\/td>\n<\/tr>\n (In thousands, except per share amounts)<\/b><\/p>\n<\/td>\n<\/tr>\n (Unaudited)<\/b><\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n June 30,<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n December 31,<\/b><\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n 2023<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 2022<\/b><\/p>\n<\/td>\n<\/tr>\n ASSETS<\/b><\/p>\n<\/td>\n \nCurrent assets:<\/p>\n<\/td>\n \nCash and cash equivalents<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n58,747<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n61,139<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nPrepaid expenses and other current assets<\/p>\n<\/td>\n \n1,211<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n1,008<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nTotal current assets<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n59,958<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n62,147<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nProperty and equipment, net<\/p>\n<\/td>\n \n1,755<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n1,961<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nIntangible assets, net<\/p>\n<\/td>\n \n2,218<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n2,551<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nGoodwill<\/p>\n<\/td>\n \n2,791<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n2,791<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nRight-of-use assets<\/p>\n<\/td>\n \n7,670<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n8,062<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nOther assets<\/p>\n<\/td>\n \n365<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n365<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nTotal assets<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n74,757<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n77,877<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n LIABILITIES AND STOCKHOLDERS\u2019 EQUITY<\/b><\/p>\n<\/td>\n \nCurrent liabilities:<\/p>\n<\/td>\n \nAccounts payable<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n1,794<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n1,573<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nAccrued expenses<\/p>\n<\/td>\n \n2,844<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n2,595<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nLease liability, current<\/p>\n<\/td>\n \n975<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n896<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nRelated party note payable, current<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n917<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nTotal current liabilities<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n5,613<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n5,981<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nLease liability, less current<\/p>\n<\/td>\n \n8,644<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n9,144<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nRelated party note payable, less current<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n65,000<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nTotal liabilities<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n14,257<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n80,125<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nStockholders\u2019 equity:<\/p>\n<\/td>\n \nPreferred stock, $0.001 par value; authorized \u2013 50,000 shares; no shares issued and outstanding<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nCommon stock, $0.001 par value: authorized \u2013 500,000 shares; issued and outstanding \u2013 54,771 shares and 37,235 shares at June 30, 2023 and December 31, 2022, respectively<\/p>\n<\/td>\n \n55<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n37<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nAdditional paid-in capital<\/p>\n<\/td>\n \n374,861<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n292,420<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nAccumulated other comprehensive income (loss)<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nAccumulated deficit<\/p>\n<\/td>\n \n(314,416<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n(294,705<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \nTotal stockholders\u2019 (deficit) equity<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n60,500<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(2,248<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \nTotal liabilities and stockholders\u2019 equity<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n74,757<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n77,877<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n<\/table>\n PULSE BIOSCIENCES, INC.<\/b><\/p>\n<\/td>\n<\/tr>\n Condensed Consolidated Statements of Operations and Comprehensive Loss<\/b><\/p>\n<\/td>\n<\/tr>\n (In thousands, except per share amounts)<\/b><\/p>\n<\/td>\n<\/tr>\n (Unaudited)<\/b><\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n Three-Month Periods Ended<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n Six-Month Periods Ended<\/b><\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n June 30,<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n June 30,<\/b><\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 2023*<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 2022<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 2023*<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 2022<\/b><\/p>\n<\/td>\n<\/tr>\n \nRevenues:<\/p>\n<\/td>\n \nProduct revenues<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n265<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n709<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nTotal revenues<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n265<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n709<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nCost and expenses:<\/p>\n<\/td>\n \nCost of revenues<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n1,344<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n2,253<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nResearch and development<\/p>\n<\/td>\n \n6,697<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n5,458<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n12,526<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n12,227<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nSales and marketing<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n3,690<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n9,231<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nGeneral and administrative<\/p>\n<\/td>\n \n3,530<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n3,787<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n7,263<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n8,285<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nTotal cost and expenses<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n10,227<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n14,279<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n19,789<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n31,996<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nLoss from operations<\/p>\n<\/td>\n \n(10,227<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n(14,014<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n(19,789<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n(31,287<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \nOther income:<\/p>\n<\/td>\n \nInterest income, net<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n317<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n18<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n78<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n18<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nTotal other income<\/p>\n<\/td>\n \n317<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n18<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n78<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n18<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nNet loss<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(9,910<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(13,996<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(19,711<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(31,269<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \nOther comprehensive gain:<\/p>\n<\/td>\n \nUnrealized gain on available-for-sale securities<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nComprehensive loss<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n(9,910<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n(13,996<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n(19,711<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n(31,269<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \nNet loss per share:<\/p>\n<\/td>\n \nBasic and diluted net loss per share<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n(0.22<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n(0.44<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n(0.48<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n(1.02<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \nWeighted average shares used to compute net loss per common share \u2014 basic and diluted<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n44,512<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n31,492<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n40,970<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n30,623<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n<\/table>\n Three-Month Periods Ended<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n Six-Month Periods Ended<\/b><\/p>\n<\/td>\n<\/tr>\n June 30,<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n June 30,<\/b><\/p>\n<\/td>\n<\/tr>\n Stock Based Compensation Expense:<\/b><\/p>\n<\/td>\n 2023*<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 2022<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 2023*<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 2022<\/b><\/p>\n<\/td>\n<\/tr>\n \nCost of revenues<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n90<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n180<\/p>\n<\/td>\n<\/tr>\n \nResearch and development<\/p>\n<\/td>\n \n518<\/p>\n<\/td>\n \n496<\/p>\n<\/td>\n \n776<\/p>\n<\/td>\n \n953<\/p>\n<\/td>\n<\/tr>\n \nSales and marketing<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n362<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n816<\/p>\n<\/td>\n<\/tr>\n \nGeneral and administrative<\/p>\n<\/td>\n \n625<\/p>\n<\/td>\n \n765<\/p>\n<\/td>\n \n1,263<\/p>\n<\/td>\n \n1,771<\/p>\n<\/td>\n<\/tr>\n \nTotal stock-based compensation expense<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n1,143<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n1,713<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n2,039<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n3,720<\/p>\n<\/td>\n<\/tr>\n \n*For the three- and six-month periods ended June 30, 2023, the Company reclassified certain expenses as a result of the shift in focus from dermatology to cardiology. Expenses previously included in Cost of Revenues are now recorded as a part of Research and Development, and expenses previously included in Sales and Marketing are now recorded as a part of General and Administrative.<\/p>\n<\/td>\n<\/tr>\n<\/table>\n PULSE BIOSCIENCES, INC.<\/b><\/p>\n<\/td>\n<\/tr>\n Consolidated Revenue Financial Highlights<\/b><\/p>\n<\/td>\n<\/tr>\n \n(In thousands)<\/p>\n<\/td>\n<\/tr>\n \n(Unaudited)<\/p>\n<\/td>\n<\/tr>\n Three-Month Periods Ended<\/b><\/p>\n<\/td>\n Six-Month Periods Ended<\/b><\/p>\n<\/td>\n<\/tr>\n June 30,<\/b><\/p>\n<\/td>\n June 30,<\/b><\/p>\n<\/td>\n<\/tr>\n 2023<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 2022<\/b><\/p>\n<\/td>\n 2023<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 2022<\/b><\/p>\n<\/td>\n<\/tr>\n Revenue by category:<\/b><\/p>\n<\/td>\n \nSystems<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n0<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n209<\/p>\n<\/td>\n \n79<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n0<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n576<\/p>\n<\/td>\n \n81<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n<\/tr>\n \nCycle units<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n0<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \n56<\/p>\n<\/td>\n \n21<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n0<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \n133<\/p>\n<\/td>\n \n19<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n<\/tr>\n \nTotal revenue<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n0<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n265<\/p>\n<\/td>\n \n100<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n0<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n709<\/p>\n<\/td>\n \n100<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n<\/tr>\n Revenue by geography:<\/b><\/p>\n<\/td>\n \nNorth America<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n0<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n214<\/p>\n<\/td>\n \n81<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n0<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n526<\/p>\n<\/td>\n \n74<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n<\/tr>\n \nRest of World<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n0<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \n51<\/p>\n<\/td>\n \n19<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n0<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \n183<\/p>\n<\/td>\n \n26<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n<\/tr>\n \nTotal revenue<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n0<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n265<\/p>\n<\/td>\n \n100<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n0<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n709<\/p>\n<\/td>\n \n100<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n<\/tr>\n<\/table>\n Reconciliation of GAAP to Non-GAAP Financial Measures<\/b><\/p>\n<\/td>\n<\/tr>\n \nThe following table presents the reconciliation of non-GAAP financial measures to the most directly comparable GAAP financial measures:<\/p>\n<\/td>\n<\/tr>\n \n(In thousands)<\/p>\n<\/td>\n<\/tr>\n \n(Unaudited)<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n Three-Month Periods Ended<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n Six-Month Periods Ended<\/b><\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n June 30,<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n June 30,<\/b><\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n 2023<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 2022<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 2023<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 2022<\/b><\/p>\n<\/td>\n<\/tr>\n Reconciliation of GAAP to non-GAAP Cost of revenues:<\/b><\/p>\n<\/td>\n \nGAAP Cost of revenues<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n1,344<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n2,253<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nLess: Stock-based compensation expense<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(90<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(180<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \nLess: Depreciation and amortization<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(5<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(10<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \nLess: Restructuring<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(19<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \nNon-GAAP Cost of revenues<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n1,249<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n2,044<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n Reconciliation of GAAP to non-GAAP Research and development:<\/b><\/p>\n<\/td>\n \nGAAP Research and development<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n6,697<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n5,458<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n12,526<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n12,227<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nLess: Stock-based compensation expense<\/p>\n<\/td>\n \n(518<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n(496<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n(776<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n(953<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \nLess: Depreciation and amortization<\/p>\n<\/td>\n \n(59<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n(70<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n(117<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n(129<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \nLess: Restructuring<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(38<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n(127<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \nNon-GAAP Research and development<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n6,120<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n4,892<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n11,595<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n11,018<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n Reconciliation of GAAP to non-GAAP Sales and marketing:<\/b><\/p>\n<\/td>\n \nGAAP Sales and marketing<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n3,690<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n9,231<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nLess: Stock-based compensation expense<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(362<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(816<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \nLess: Depreciation and amortization<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(15<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(28<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \nLess: Restructuring<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(546<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \nNon-GAAP Sales and marketing<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n3,313<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n7,841<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n Reconciliation of GAAP to non-GAAP General and administrative:<\/b><\/p>\n<\/td>\n \nGAAP General and administrative<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n3,530<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n3,787<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n7,263<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n8,285<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nLess: Stock-based compensation expense<\/p>\n<\/td>\n \n(625<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n(765<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n(1,263<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n(1,771<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \nLess: Depreciation and amortization<\/p>\n<\/td>\n \n(244<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n(263<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n(488<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n(513<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \nLess: Restructuring<\/p>\n<\/td>\n \n(7<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(19<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n(41<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \nNon-GAAP General and administrative<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n2,654<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n2,759<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n5,493<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n5,960<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n Reconciliation of GAAP to non-GAAP Cost and expenses:<\/b><\/p>\n<\/td>\n \nGAAP Cost and expenses<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n10,227<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n14,279<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n19,789<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n31,996<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nLess: Stock-based compensation expense<\/p>\n<\/td>\n \n(1,143<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n(1,713<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n(2,039<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n(3,720<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \nLess: Depreciation and amortization<\/p>\n<\/td>\n \n(303<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n(353<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n(605<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n(680<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \nLess: Restructuring<\/p>\n<\/td>\n \n(7<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(57<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n(733<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \nNon-GAAP Cost and expenses<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n8,774<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n12,213<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n17,088<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n26,863<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n Reconciliation of GAAP to non-GAAP Net loss:<\/b><\/p>\n<\/td>\n \nGAAP Net loss<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n(9,910<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n(13,996<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n(19,711<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n(31,269<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \nAdd: Stock-based compensation expense<\/p>\n<\/td>\n \n1,143<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n1,713<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n2,039<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n3,720<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nAdd: Depreciation and amortization<\/p>\n<\/td>\n \n303<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n353<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n605<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n680<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nAdd: Restructuring<\/p>\n<\/td>\n \n7<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n57<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n733<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nNon-GAAP Net loss<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n(8,457<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n(11,930<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n(17,010<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n(26,136<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n<\/table>\n \n\u00a0<\/p>\n View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20230810910916\/en\/<\/a><\/span><\/p>\n Investor Contacts: \nor<\/p>\n \nGilmartin Group KEYWORDS:<\/b> California United States North America<\/p>\n INDUSTRY KEYWORDS:<\/b> Biotechnology Health Technology Health Medical Devices<\/p>\n\n
\n
\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n <\/tr>\n \n \n \n \n \n \n <\/tr>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \n \n <\/tr>\n \n \n \n \n \n \n <\/tr>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \n \n <\/tr>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n
\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n <\/tr>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n <\/tr>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n <\/tr>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n <\/tr>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n <\/tr>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n
\n \n \n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n
\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n <\/tr>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n <\/tr>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n
\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n <\/tr>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \n \n \n \n \n \n \n \n <\/tr>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \n \n \n \n \n \n \n \n <\/tr>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \n \n \n \n \n \n \n \n <\/tr>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \n \n \n \n \n \n \n \n <\/tr>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \n \n \n \n \n \n \n \n <\/tr>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n <\/p>\n
\n<\/b>
Pulse Biosciences
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Kevin Danahy, President and CEO
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510.241.1077
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IR@pulsebiosciences.com<\/a><\/p>\n
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Philip Trip Taylor
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415.937.5406
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philip@gilmartinir.com<\/a><\/p>\n
![\"Logo\"](\"https:\/\/mms.businesswire.com\/media\/20230810910916\/en\/1279777\/3\/pulse-logo.jpg\"){kind=logo}
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