PLSEPulse Biosciences, Inc.
The Read
Pulse Biosciences’ stock fell about 23% after Q4 2025 earnings met estimates but 2026 commercial guidance disappointed due to slower Cell-Surgical System adoption, then rose slightly after initiating NANOPULSE-AF trial and presenting positive data.
The schedule
- Thu15Oct
Initial human feasibility data for the percutaneous electroporation oncology system.
- Mon23Nov
Crucial regulatory feedback dictating the time-to-market and clinical trial burden for the oncology portfolio.
- Mon23Nov
Confirmation of the pivotal trial start for the NANOPULSE-AF system, unlocking the next valuation tier for the franchise.
- Sun7Feb
Quarterly financial results with a focus on initial Cell-Surgical System commercial traction and cash preservation.
- Tue9Feb
Full-year results and the critical issuance of 2027 commercial and clinical milestones.
- Tue11May
First quarter results offering early insight into 2027 fiscal performance and pivotal AFib trial interim safety updates.
Past
- Sun9Aug
Q2 earnings will serve as a referendum on the AFib catheter trial enrollment pace and underlying cash burn.
- Mon20Jul
Actual outcome: Bull · $35.47 at outcome
The anticipated dilution risk did not materialize during the target window. Instead, the stock surged well past the $28.50 bull target, driven by positive clinical momentum as Pulse Biosciences announced it had surpassed the enrollment midpoint in its NANOPULSE-AF IDE Pivotal Study. This strong trial progress fueled investor optimism and pushed shares significantly higher.
With the stock trading near its 52-week high of $29.24, Pulse Biosciences may execute a secondary offering to extend its cash runway.
- Thu19Feb
Actual outcome: Bull · $23.00 at outcome
Pulse Biosciences met EPS estimates, but the stock's rally past the bull target was driven by the announcement of breakthrough clinical data for the nPulse AFib system and a strategic pivot to accelerate its development. This fundamental progress on the cardiac catheter program signaled a faster path to commercialization, outweighing the neutral earnings result and driving investor optimism despite a subsequent price retracement by the run date.
Release of fiscal year results and initial 2026 commercial outlook for the Cell-Surgical System.