脉冲生物科学公司 2025年季度报告

The number of shares outstanding of the registrant’s common stock as of April 30, 2025:67,273,862 Condensed Consolidated Statements of Cash Flows for the Three-MonthPeriods Ended March 31, 2025 and 2024Condensed Consolidated Statements of Stockholders’Equity for the Three-Month Periods Ended March 31, 2025and 2024Notes to Condensed Consolidated Financial StatementsItem2. Management’s Discussion and Analysis of Financial Condition and Results of OperationsItem3. Quantitative and Qualitative Disclosures About Market RiskItem4. Controls and Procedures Item2. Unregistered Sales of Equity Securities and Use of ProceedsItem 3. Default Upon Senior SecuritiesItem4. Mine Safety Disclosures the®andTMsymbols, but we will assert, to the fullest extent under applicable law, our rights to our trademarks and trade names.Also, this QuarterlyReport may contain additional trade names, trademarks or service marks of others, which are the property of exercise of stock optionsIssuance of common stock under 26—352 Additionald OtherTotalCommon StockPaid-inComprehensiveAccumulatedStockholderSharesAmountCapitalLossDeficitEquityBalance, December 31, 202355,144$55$381,220$—$(336,915)$Issuance of common stock underemployee stock purchase plan78—296——Issuance of common stock uponexercise of stock options3—9——Stock-based compensation 6 1.Description of the BusinessPulse Biosciences, Inc. is a novel ablation company committed to health innovation using itspatented Nano-pulseStimulation (“NPS”) technology, a revolutionary energy modality that delivers nanosecond-duration pulses of electrical energy,each less than a millionth of asecondlong, to nonthermally clear or kill targeted cells. NPS technology, also referred to asNanosecond Pulsed-Field Ablation (“nsPFA”) technology when used to ablate cellular tissue, can be used to treat a variety of catheters, and each has been used in preclinical studies. Based on itspreclinical experience and the potential to significantlyimprove outcomes for patients in a large and growing market, the Companydecided in2022to focus our primary efforts on the use of nsPFA energy and the CellFX platform in the treatment of atrial fibrillation ("AF") and in a select few other markets where itcould have a profound positive impact on healthcare for both patients and providers, such as surgical soft tissue ablation. The Company’s activities are subject to significant risks and uncertainties, including the need for additional capital. TheCompany doesnotcurrently have any material cash flows from operations. Itcurrently generatesnorevenue and will need to raise financing on acceptable terms and in the amounts necessary to fully fund its operating requirements.2.Summary of Significant Accounting Policies recurring adjustments, necessary to fairly state the information set forth herein. The condensed consolidated financial statementshave been prepared in accordance with the applicable rules and regulations of the Securities and Exchange Commission (the “SEC”) and, as permitted by such rules and regulations, omit certain information and footnote disclosures necessary to present thefinancial statements in accordance with accounting principles generally accepted in the United States (“U.S. GAAP”). Thecondensed consolidated balance sheet as ofDecember 31, 2024was derived from the audited consolidated financial statements as These condensed consolidated financial statements should be read in conjunction with the audited consolidated financialstatements and notes thereto included in the Company’s Annual Report on Form10-K for the year endedDecember 31, 2024. The results of operations for thethree-monthperiodendedMarch 31, 2025, arenotnecessarily indicative of the results to be expectedfor the entire year or any future periods. Principles of ConsolidationThe accompanying condensed consolidated financial statements include the financial statements of Pulse Biosciences, Inc.and its wholly-owned subsidiaries. Intercompany balances and transactions, if any, have been eliminated in consolidation.7 arenotlimited to, the valuation and recognition of stock-based compensation, the valuation of equity-classified subscription rights,inventory valuation, income taxes, and the useful lives assigned to long-lived assets. The Company evaluates its estimates andassumptions based on historical experience and other factors and adjusts those estimates and assumptions when facts andcircumstances dictate. Actual results could differ materially from these estimates. Stock-Based CompensationThe Company's stock-based compensation programs include stock options and an employee stock purchase program.The Company periodically issues stock optionsto officers, directors, employees, and consultants for services rendered. Suchissuances vest and expire according to terms established at the issuance date. Stock-based payments to officers, directors andemployees, including grants of employee stock options, are recognized in the financial sta