MIAMI - Pulse Biosciences, Inc. (NASDAQ:PLSE), a bioelectric medicine company, has announced the appointment of David Kenigsberg, M.D. as its new Chief Medical Officer of Electrophysiology. This strategic move is aimed at enhancing the company's clinical development efforts for its innovative cardiac catheter technology.
Dr. Kenigsberg, a seasoned cardiac electrophysiologist, joins Pulse Biosciences with a wealth of experience in treating atrial fibrillation and a track record of leadership in clinical research. His previous roles include founding the Florida Heart Rhythm Specialists, directing the Electrophysiology Lab at HCA (NYSE:HCA) Westside Medical Center, and participating in numerous clinical trials focused on ablation tools.
In addition to Dr. Kenigsberg's appointment, Andrea Natale, M.D. has been named a medical advisor. Dr. Natale, known for his work in advancing the treatment of atrial fibrillation, joins existing advisors Vivek Reddy, M.D. and Jacob Koruth, M.D. Together, the team will support the development and clinical validation of the company's nano-PFA 360 Cardiac Catheter.
The nano-PFA 360 Cardiac Catheter, a product of Pulse Biosciences, is designed to isolate pulmonary veins with precision and efficiency, a critical process in the treatment of atrial fibrillation. Dr. Kenigsberg expressed his enthusiasm for the technology, noting its potential to significantly advance current treatment methods.
Pulse Biosciences' commitment to improving patient quality of life through its CellFX nsPFA technology is underscored by this latest appointment. The technology aims to deliver electrical energy pulses to selectively target cells without damaging surrounding noncellular tissue.
Burke T. Barrett, President and CEO of Pulse Biosciences, highlighted the importance of the appointments, emphasizing the expected contribution of the new team members to the generation of high-quality clinical data showcasing the 360 catheter's performance.
This information is based on a press release statement from Pulse Biosciences, Inc. The company continues to focus on the development of its CellFX nsPFA technology for the treatment of atrial fibrillation among other medical applications.
In other recent news, Pulse Biosciences has made significant strides in the development of its nano-Pulse Field Ablation (nano-PFA) devices. The company's CEO, Burke T. Barrett, has emphasized the transformative potential of this technology in treating various diseases and disorders. Pulse Biosciences has successfully completed its initial U.S. soft tissue ablation cases and has received a breakthrough device designation from the FDA. The firm has also raised $60 million through a rights offering in July, which is expected to fund its operations until 2026.
Looking ahead, Pulse Biosciences plans to initiate pivotal clinical trials for its nano-PFA devices targeting benign thyroid nodules and atrial fibrillation in 2025. The feasibility study for catheter-based endocardial AF application is expanding to 60 patients, and the company is planning to add two more EU sites. As of June 30, 2024, the company had cash and cash equivalents of $26.2 million, with a pro-forma basis of $86 million, including the recent fundraising. Additionally, the company has welcomed Paul LaViolette as Co-Chairman of the Board, further strengthening its leadership team. These are some of the recent developments in Pulse Biosciences' operations and financial position.
InvestingPro Insights
As Pulse Biosciences, Inc. (NASDAQ:PLSE) makes strategic moves to bolster its clinical development efforts, investors may find additional context from recent financial data and expert insights valuable.
According to InvestingPro data, Pulse Biosciences has a market capitalization of $1.09 billion, reflecting investor confidence in the company's potential. This valuation comes despite the company not being profitable over the last twelve months, with an adjusted operating income of -$46.13 million for the same period.
InvestingPro Tips highlight that net income is expected to grow this year, and analysts predict the company will be profitable this year. These projections align with the company's strategic appointments and focus on developing innovative technologies like the nano-PFA 360 Cardiac Catheter.
The stock has shown remarkable performance, with a 286.39% price total return over the past year and a 131.21% return over the last six months. This strong momentum reflects investor optimism about the company's direction and potential market impact of its CellFX nsPFA technology.
It's worth noting that Pulse Biosciences operates with a moderate level of debt, and its liquid assets exceed short-term obligations. This financial position may provide the company with the flexibility needed to support its ongoing research and development efforts in bioelectric medicine.
For investors seeking a more comprehensive analysis, InvestingPro offers 12 additional tips for Pulse Biosciences, providing a deeper dive into the company's financial health and market position.
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