MIAMI - Pulse Biosciences, Inc. (NASDAQ:PLSE), a bioelectric medicine company with a market capitalization of $1.13 billion, has appointed Paul A. LaViolette as Chief Executive Officer, a move announced today. LaViolette, who will maintain his role as Co-Chairman of the Board, brings a wealth of experience from his tenure at global healthcare corporations and as a venture investor. The appointment comes as the company's stock has delivered an impressive 118% return over the past year, according to InvestingPro data.
LaViolette's background includes significant roles at Boston Scientific Corporation (NYSE:BSX), where he served as Chief Operating Officer among other positions, and time at CR Bard (NYSE:BCR) and Kendall ( Medtronic (NYSE:MDT)). Currently, he also holds director positions at Edwards Lifesciences (NYSE:EW) and chairs the Innovation Advisory Board at Mass General Brigham.
The company is actively developing its proprietary Nanosecond Pulsed Field Ablation (nano-PFA or nsPFA) technology, which is being evaluated through feasibility studies in Europe for its Cardiac Surgical System and 360° Cardiac Catheter. In the United States, a pilot program is underway for its FDA-cleared nsPFA Percutaneous Electrode Systems at select sites. InvestingPro analysis indicates the company maintains a strong financial health score of 2.67, with liquid assets significantly exceeding short-term obligations as reflected in its current ratio of 11.93.
In conjunction with LaViolette's appointment, Pulse Biosciences will present at the 43rd Annual J.P. Morgan Healthcare Conference in San Francisco on January 15, 2025, and feature its nano-PFA technology at the 30th Annual AF Symposium 2025 in Boston from January 16-18, 2025.
Furthermore, the company disclosed the grant of inducement options to purchase a total of 138,800 shares of common stock to eleven new employees. These options, awarded as part of the employees' inducement to join the company, have a ten-year term and an exercise price of $18.55 per share, matching the closing price on NASDAQ on January 7, 2025. Based on InvestingPro's Fair Value analysis, the stock appears to be trading near its fair value. Investors can access detailed valuation metrics and 12 additional ProTips with an InvestingPro subscription, including comprehensive analysis in the Pro Research Report. The vesting schedule spans four years, with a special condition for a vice president's grant that includes market capitalization milestones.
Pulse Biosciences' mission is to advance its CellFX nsPFA technology for various medical applications, including the treatment of atrial fibrillation, with the intention of improving patient outcomes. While currently operating at a loss with an EBITDA of -$47.33 million in the last twelve months, analysts expect the company to achieve profitability this year. The company, now based in Miami with an office in Hayward, California, is known for its CellFX System and a range of related technologies and trademarks.
This news is based on a press release statement from Pulse Biosciences, Inc.
In other recent news, Pulse Biosciences announced the departure of its President and CEO, Mr. Burke T. Barrett. In the interim, Kevin P. Danahy and Darrin R. Uecker will assume the roles of principal executive and principal financial officers, respectively. Furthermore, the company's major stockholder and Co-Chairman, Robert W. Duggan, is considering substantial market purchases of the company's common stock.
Pulse Biosciences also disclosed promising preliminary results from a feasibility study on its Nanosecond Pulsed Field Ablation (nano-PFA) technology, indicating potential in reducing benign thyroid nodules and providing symptomatic relief. In the financial domain, despite recording a GAAP net loss of $12.7 million for Q3 2024, the company successfully raised $60 million through a rights offering, ending the quarter with $79 million in cash and cash equivalents.
Pulse Biosciences treated its first Atrial Fibrillation patients in Europe using the nano-PFA Cardiac Surgical System, which has received U.S. FDA breakthrough device designation. These are some of the recent developments within the company.
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