Pulse Biosciences (PLSE) TD Cowen 46th Annual Health Care Conference summary

Executive overview

• Presented advancements in nanosecond pulsed field ablation (NSPFA) technology, emphasizing its novel, non-thermal mechanism and robust intellectual property portfolio of 250+ patents.

• Highlighted a strong leadership team and recent addition of an experienced independent director, with $80 million cash on hand to fund clinical trials through 2026–2027.

• Focused on strategic investment in clinical trials, particularly in electrophysiology (EP) and atrial fibrillation (AFib) ablation, with a quarterly burn rate expected to rise as trials ramp up.

Clinical and technological progress

• NSPFA delivers ultra-short, high-energy pulses, resulting in efficient, non-thermal ablation and regulated cell death, distinguishing it from first-generation PFA.

• Demonstrated unprecedented clinical outcomes in AFib ablation: 100% success at 6 months, 96% at 12 months, and 90% effectiveness for broader arrhythmia endpoints.

• Workflow improvements allow for rapid, consistent pulmonary vein isolation, with procedures completed in minutes and single-catheter mapping and ablation.

• Next-generation catheter (Epicenter Plus) will enable both regional and focal ablation, further enhancing procedural efficiency.

Market opportunity and pipeline

• Targeting the multi-billion dollar EP ablation market, growing at 15–20% annually, with additional programs in cardiac surgery and soft tissue ablation (e.g., thyroid, oncology).

• Cardiac surgery clamp program received FDA Breakthrough designation and is enrolling in an IDE study, with completion targeted for 2026.

• Preparing to launch first clinical study in oncology (papillary thyroid microcarcinoma) in partnership with MD Anderson.