Pulse Biosciences is a pre-revenue-stage medical device company with a quality score of 2.1 out of 10, free cash flow burn of -3872% of revenue, and only 0.5% implied price upside — making it an unattractive investment with no risk-reward justification at current levels near $25.93.
Thesis pillars
- Extreme Cash Burn Rate→Stable
- High Short Interest Signal→Stable
- Mixed Earnings Track Record→Stable
- +1 more pillar — see the Why tab for full reasoning
Pillars as of Jul 3, 2026, based on the 10-K filed Feb 19, 2026
Pulse Biosciences, Inc (PLSE) Stock Analysis
Breakout setup
Healthcare · Medical Instruments & Supplies
Sell if holding. Engine safety override at $53.67: Quality below floor (1.8 < 4.0) triggers a hard block regardless of the otherwise-positive setup — overall score 4.8/10. Specifically: High short interest: 14%; Elevated put/call ratio: 1.85; Below-average business quality.
Pulse Biosciences develops nanosecond pulsed-field ablation devices built on its Nano-pulse Stimulation platform, including the FDA-cleared Vybrance Percutaneous Electrode System for soft tissue ablation and two cardiac devices in clinical trials for atrial fibrillation. The... Read more
Sell if holding. Engine safety override at $53.67: Quality below floor (1.8 < 4.0) triggers a hard block regardless of the otherwise-positive setup — overall score 4.8/10. Specifically: High short interest: 14%; Elevated put/call ratio: 1.85; Below-average business quality. Chart setup: Golden cross, above all MAs, RSI 58, MACD bullish. Score 4.8/10, moderate confidence.
Passes 5/7 gates (positive momentum, clean insider activity, no SEC red flags, semi cycle peak clear, materials cycle peak clear). Fails on favorable risk/reward ratio and earnings proximity 7d<=7d. Suitability: aggressive.
About Pulse Biosciences, Inc
About Pulse Biosciences, Inc
Pulse Biosciences received FDA IDE approval for the pivotal U.S. trial of the nPulse Cardiac Surgical System in September 2025 and FDA IDE approval for the nPulse Cardiac Catheter System in December 2025, targeting atrial fibrillation — a condition affecting an estimated 43 million people worldwide and representing a greater than $3.0 billion addressable market within electrophysiology. The company received 510(k) clearance for the Vybrance Percutaneous Electrode System in March 2024, with a second electrode size cleared in August 2024. Pulse Biosciences employed 116 people as of December 31, 2025, with no significant revenue from operations.
Pulse Biosciences currently earns minimal revenue from the Vybrance Percutaneous Electrode System, a disposable needle electrode for nonthermal soft tissue ablation placed at sites under short-term evaluation and early commercial agreements, with more than 300 patient procedures completed to date. The two primary development programs are the nPulse Cardiac Surgical Clamp — targeting the Cox-Maze surgical procedure with a single-arm pivotal trial of up to 136 patients at up to 20 sites — and the nPulse Cardiac Catheter, whose European first-in-human study across nine investigators showed 96% procedural success of evaluable patients at one year, as presented by Dr. Vivek Reddy at the AF Symposium in February 2026. Competitors including Abbott Laboratories, AtriCure, Inc., Boston Scientific Corporation, Johnson & Johnson (Biosense Webster), and Medtronic plc all have more established manufacturing, sales, and clinical resources. The company has historically funded operations through equity sales with no assurance that adequate capital will be available on favorable terms.
Show full overview
The nPulse Cardiac Surgical System's U.S. pivotal trial, initiated in September 2025 after IDE approval, targets up to 136 patients at up to 20 sites and requires PMA approval to commercialize in the United States. The catheter IDE study, approved December 2025, aims to enroll up to 155 patients at up to 30 sites with no PMA filing timeline disclosed. The 10-K states that the company's revenue and future profitability are 'entirely dependent upon one family of products, the nPulse System, and one platform technology, Nano-pulse Stimulation,' meaning failure to achieve PMA approval for either cardiac program — or inability to raise sufficient funding — may require the company to scale back or discontinue operations.
See also: Healthcare · Medical Instruments & Supplies
From Pulse Biosciences, Inc's most recent 10-K filing, extracted June 11, 2026.
Recent developments
updated 2026-10-29Recent Developments — Pulse Biosciences, Inc
Latest news
- NEWS Pulse Biosciences Schedules Third Quarter 2026 Financial Results Conference Call — fiscal.ai Oct 22, 2026 neutral
- NEWS Pulse Biosciences Partners With Clayman Thyroid Center At Hospital For Endocrine Surgery In Tampa, Florida — benzinga Oct 14, 2026 positive
- NEWS Oppenheimer Maintains Outperform on Pulse Biosciences, Raises Price Target to $60 — benzinga Oct 13, 2026 positive
- NEWS Pulse Biosciences Announces Completion Of 164-Patient Enrollment In Pivotal Atrial Fibrillation Study Of nPulse Catheter — benzinga Oct 7, 2026 positive
- NEWS Canaccord Genuity Maintains Buy on Pulse Biosciences, Raises Price Target to $58 — benzinga Oct 6, 2026 positive
Generated 2026-10-29T11:48:40Z.
Upcoming dated catalysts
Thesis
Key Metrics
Quality Signals
Options Flow
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results. How we score · Editorial policy
Show full disclosure ▾Hide full disclosure ▴
About TrendMatrix. TrendMatrix is a publisher of general securities research and market commentary. We publish on a regular schedule. All content is the same for every subscriber in a tier — we do not provide personalized investment advice and we do not take into account any individual subscriber's financial situation, investment objectives, risk tolerance, tax situation, or holdings.
Not investment advice. TrendMatrix is not a registered investment adviser. Our content is for informational and educational purposes only. Consult your own licensed investment adviser, broker, or tax professional before making any investment decision.
Conflicts and positions. People who build TrendMatrix, or entities they control, may hold positions, long or short, in securities it covers, and may trade them at any time. Positions are not disclosed individually. Verdicts are generated by an automated model applied by the same rules to every covered stock, and are not adjusted for any position held by the people who build TrendMatrix. We do not accept payment from issuers for coverage.
No paid promotion. TrendMatrix does not accept payment from any issuer, broker, or third party in exchange for coverage of any security.
No fiduciary duty. No fiduciary, advisory, or agency relationship is created between you and TrendMatrix by reading our content or subscribing to our service.
Performance. Past performance is not indicative of future results. Performance figures reflect the published model only and do not reflect any individual subscriber's actual results.
Rating Breakdown
2 floor-breakers
Quality below the gate floor. Component breakdown shows what dragged the score down.static
Technicals below the gate floor. Component breakdown shows what dragged the score down.static
Price Targets
Position Sizing
Risk Alerts
Earnings
Verdict History
Frequently Asked Questions
Sell if holding. Engine safety override at $53.67: Quality below floor (1.8 < 4.0) triggers a hard block regardless of the otherwise-positive setup — overall score 4.8/10. Specifically: High short interest: 14%; Elevated put/call ratio: 1.85; Below-average business quality. Chart setup: Golden cross, above all MAs, RSI 58, MACD bullish. Prior stop was $49.91. Score 4.8/10, moderate confidence.
Analyst target: $54.23 (+1.0% upside). Prior stop was $49.91. Stop-loss: $49.91.
Target reached (1.0% upside); Quality below floor (1.8 < 4.0); Value-trap signals (2/5): Revenue declining (-22.6% YoY), Negative free cash flow.
Pulse Biosciences, Inc trades at a P/E of N/A (forward -45.9). TrendMatrix value score: 5.0/10. Verdict: Sell.
12 analysts cover PLSE with a consensus score of 4.3/5. Average price target: $62.
What does Pulse Biosciences, Inc do?Pulse Biosciences develops nanosecond pulsed-field ablation devices built on its Nano-pulse Stimulation platform,...
Pulse Biosciences develops nanosecond pulsed-field ablation devices built on its Nano-pulse Stimulation platform, including the FDA-cleared Vybrance Percutaneous Electrode System for soft tissue ablation and two cardiac devices in clinical trials for atrial fibrillation. The company has not generated significant revenue and expects operating losses to continue as it pursues PMA approval for its cardiac surgical clamp and catheter.