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Description Of The Business
9 Months Ended
Sep. 30, 2022
Description Of The Business [Abstract]  
Description Of The Business 1. Description of the Business

Pulse Biosciences, Inc. is a novel bioelectric medicine company committed to health innovation using an entirely new and proprietary energy modality. The Company’s CellFX System is the first commercial product to harness the distinctive advantages of the Company’s proprietary NPS technology. The CellFX System delivers nanosecond duration pulses of electrical energy, each less than a millionth of a second long, to non-thermally clear targeted cells while sparing adjacent non-cellular tissue, to treat a variety of medical conditions for which an optimal solution remains unfulfilled.

In early 2021, the Company received U.S. Food and Drug Administration (the “FDA”) and other regulatory approvals to market the CellFX system as a treatment for benign skin lesions, and by June 2021 it had successfully initiated a controlled launch program in the United States, the European Union, and Canada (collectively, the “Controlled Launch”) (Note 9). Then, in August 2021, the Company began to convert Controlled Launch program participants into sales agreements, triggering revenue recognition (Note 10).

On March 31, 2022, the Company announced a reduction in force and initiated a plan to reduce its operating expenses, preserve financial resources, and focus its sales and marketing efforts on increasing utilization of CellFX Systems. The Company’s Board of Directors approved changes to the Company’s commercial leadership, restructuring of its commercial field organization and reductions in other personnel and expenses across the Company. On September 20, 2022, the Company initiated an additional reduction in force to align its workforce with its shift in strategic direction to advance its core NPS technology outside of dermatology. This reduction primarily impacted dermatological sales, marketing and other related support personnel. See Note 13 for additional details. In support of the shift in strategic direction, the Company concluded the Controlled Launch program and notified all remaining program participants. See Note 9 for additional details of the Controlled Launch program. Additionally, the Company ceased active commercialization efforts of the CellFx System, though it will continue to support existing commercial users.

The Company was incorporated in Nevada on May 19, 2014. On June 18, 2018, the Company reincorporated from the State of Nevada to the State of Delaware. The Company is located in Hayward, California.

The Company’s activities are subject to significant risks and uncertainties, including the need for additional capital. The Company does not currently have any cash flows from operations. It has minimal revenue and will need to raise additional capital to finance its operations. However, there can be no assurances that the Company will be able to obtain additional financing on acceptable terms and in the amounts necessary to fully fund its operating requirements.