🎈 Up Big Today: Find today's biggest gainers with our free screenerTry Stock Screener

Pulse Biosciences stockholder plans significant purchase

EditorLina Guerrero
Published 11/26/2024, 01:16 PM
PLSE
-

Pulse Biosciences, Inc. (NASDAQ:PLSE) disclosed today that major stockholder and Co-Chairman Robert W. Duggan is considering substantial market purchases of the company's common stock. According to company filings, Duggan has been authorized to acquire up to 500,000 shares of Pulse Biosciences common stock until December 10, 2024.

This move by Duggan, who is already a controlling shareholder, signals his potential increased investment in the medical device company, which specializes in surgical and medical instruments. The company, headquartered in Hayward, California, operates under the name "08 Industrial Applications and Services" and is incorporated in Delaware.

The company's management and President and CEO Burke T. Barrett, who also serves as the Principal Executive and Principal Financial (NASDAQ:PFG) Officer, have signed off on the SEC filing, confirming the accuracy of the reported information. This announcement is based on a press release statement and provides an update on significant corporate developments that could influence investor decisions.

In other recent news, Pulse Biosciences revealed promising preliminary results from a feasibility study on its Nanosecond Pulsed Field Ablation (nano-PFA) technology. The study showed that the technology successfully reduces the volume of benign thyroid nodules and provides symptomatic relief. The company's technology, which has received FDA 510(k) clearance for soft tissue ablation, is also being explored for the treatment of atrial fibrillation and other conditions.

In financial developments, despite a GAAP net loss of $12.7 million for Q3 2024, Pulse Biosciences raised $60 million through a rights offering and ended the quarter with $79 million in cash and cash equivalents. The company also treated its first Atrial Fibrillation patients in Europe using the nano-PFA Cardiac Surgical System, which has received U.S. FDA breakthrough device designation.

InvestingPro Insights

Pulse Biosciences' recent disclosure about potential insider buying aligns with several key insights from InvestingPro. The company's stock has shown remarkable performance, with a 147.39% total return over the past year and a 58.18% return in the last six months. This strong momentum is reflected in an InvestingPro Tip highlighting the "high return over the last year."

Despite the positive stock performance, InvestingPro data reveals that Pulse Biosciences is not currently profitable, with a negative EBITDA of -$47.33 million in the last twelve months. However, an InvestingPro Tip suggests that "analysts predict the company will be profitable this year," which could explain Robert W. Duggan's interest in increasing his stake.

The company's financial health shows mixed signals. While it "operates with a moderate level of debt" and "liquid assets exceed short term obligations," according to InvestingPro Tips, the company also "suffers from weak gross profit margins." This combination of factors may contribute to the stock's volatility, as another tip points out that "stock price movements are quite volatile."

For investors seeking a more comprehensive analysis, InvestingPro offers 11 additional tips for Pulse Biosciences, providing a deeper understanding of the company's financial position and market performance.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.