Pulse Biosciences(US:PLSE)2020-05-12 02:12Financial Data and Key Metrics Changes - Operating expenses for Q1 2020 were $12 million, up from $10.4 million in the prior year, driven by expansion in operational infrastructure and clinical trial costs [49] - Net loss for Q1 2020 was $11.9 million, compared to $10.1 million in Q1 2019 [51] - Cash and cash equivalents totaled $15.9 million as of March 31, 2020, down from $25.4 million as of December 31, 2019 [51] Business Line Data and Key Metrics Changes - The company reported an increase in general and administrative expenses to $5.6 million from $4.4 million, primarily due to increased personnel [49] - Research and development expenses rose to $6.2 million from $5.8 million, also attributed to increased personnel [50] Market Data and Key Metrics Changes - The COVID-19 pandemic significantly impacted elective procedure volumes, with 92% of surveyed dermatologists reporting a reduction of at least 50% in aesthetic procedures [36] - Despite the downturn, 75% of aesthetic dermatologists indicated they are actively scheduling future procedures, reflecting optimism for a rapid recovery [38] Company Strategy and Development Direction - The company aims for regulatory clearance of the CellFX System in the U.S. and EU, with a goal to submit a 510(k) application by Q3 2020 [21][28] - Plans for commercialization in the EU are underway, with the potential to obtain CE Mark as early as Q1 2021 due to regulatory delays [26][28] Management's Comments on Operating Environment and Future Outlook - Management remains optimistic about the company's prospects despite the challenges posed by COVID-19, emphasizing progress on key objectives [7][56] - The company is adapting to remote work and has implemented new workflows to maintain operations without significant disruption [10][11] Other Important Information - The company is pursuing a rights offering to raise up to $30 million, with expected net proceeds of approximately $29.5 million [52] - The rights offering is structured to allow stockholders to purchase units consisting of common stock and warrants, with no expected dilution for those who fully exercise their rights [53][54] Q&A Session Summary - No specific questions or answers were documented in the provided content, as the call concluded without a Q&A segment [60][61]