Good morning, welcome to the 2026 Annual Meeting of Stockholders of Pulse Biosciences, Inc. I would now like to introduce the first presenter, Paul LaViolette, Co-Chairman, President, and Chief Executive Officer of Pulse Biosciences. Thank you, Tiffany. Good morning, ladies and gentlemen. I am Paul LaViolette, President and Chief Executive Officer of Pulse Biosciences, and as the Chairperson of this meeting, it is my pleasure to welcome you to Pulse Biosciences Annual Meeting of Stockholders. I have asked Ken Stratton, our General Counsel and Corporate Secretary, to act as secretary of this meeting and to record the minutes. We are holding a virtual annual meeting of stockholders so that our stockholders, no matter where they are in the world, can participate in the meeting in a virtual format. Before proceeding further, let me introduce the other directors and director nominees of the company who are in attendance. We have on the line or with us here at the office, Robert Duggan, our Executive Co-Chairman, Darrin Uecker, who is also the company's Chief Technology Officer, Manmeet Soni, Maria Sainz, Richard van den Broek, and Maky Zanganeh. I would like to also introduce the members of the company management who are here in attendance. Liane Teplitsky, the company's Chief Operating Officer, Jon Skinner, the company's Chief Financial Officer, and also with us today are Jon Gonzalez and Austin Ritenour, representing Deloitte & Touche, our independent public accounting firm. I will now turn the meeting over to Ken Stratton, our Corporate Secretary, who will conduct the formal portion of the meeting. Ken? Morning. This meeting is being held virtually in accordance with the company's bylaws and Delaware law. This annual meeting is being held for the following purposes. First, to elect seven directors from the nominees' names in the accompanying proxy statement to hold office until the company's 2027 Annual Meeting of Stockholders and until their successors are duly elected and qualified, subject to their earlier resignation or removal. Second, to ratify the appointment of Deloitte & Touche LLP as our independent registered public accounting firm for the fiscal year ending December 31, 2026. Third, to transact such other business as may properly come before the annual meeting or any adjournment or postponements thereof. To ensure that the business of the meeting proceeds in an orderly fashion, we ask that you please observe the following rules. During the formal meeting, we will only address the matters described in the company's proxy statement, which was first made available to all stockholders on or about May 11, 2026, and is available on our website and on the SEC's website. We will notify you when the voting polls are open. After the voting polls are open, you may vote your shares online anytime during the meeting prior to the closing of the polls. If you have already submitted a proxy to vote your shares, you do not need to submit an online ballot unless you want to change your vote. Your vote will be counted. Once the polls have closed, we will announce the preliminary results of the voting, the formal meeting will be adjourned. After we complete the formal meeting, there will be an opportunity for stockholders to ask questions regarding the company. There is a text box on your screen where you can submit your questions at any time during the meeting if submitted prior to the end of the Q&A session. Please include your name when submitting a question. We will try to answer as many questions as we have time for, but we may not be able to answer all questions submitted. I have proof by affidavit that notice of this meeting was duly given and that the Notice of Annual Meeting of Stockholders, Proxy Statement, and Proxy were mailed on or about May 11, 2026 to stockholders of record as of April 28, 2026, the record date for this annual meeting. I can also confirm that I have been duly appointed to act as the Inspector of Election for this annual meeting. I have signed an oath of office, which will be filed with the minutes of this meeting. As the Inspector of Election, I can confirm that we have present, virtually or by proxy, a sufficient number of shares to constitute a quorum. The meeting is duly constituted, and we may proceed with business. It is now 8:05 A.M. Pacific Time on June 11, 2026, the polls for each matter to be voted on at this meeting are now open. The first item of business is the election of directors. Our board of directors presently has seven members. As indicated in our proxy statement, Robert Duggan, Paul LaViolette, Maria Sainz, Manmeet Soni, Darrin Uecker, Richard van den Broek, and Maky Zanganeh have been nominated as the company's board of directors to serve as directors until the company's annual meeting of stockholders in 2027. Each of these nominees is currently serving as a member of our board of directors. The board of directors recommends that stockholders vote in favor of these nominees, the proxies solicited by the board will be voted in favor of these nominees. The second item of business is to ratify the appointment of Deloitte & Touche LLP as our independent registered public accounting firm for the fiscal year ending December 31, 2026. If the stockholders do not ratify the selection of Deloitte & Touche as our independent auditor, the board may reconsider the appointment. The board of directors recommends that stockholders vote in favor of this proposal, the proxy solicited by the board will be voted in favor of this proposal. There is no other form of business. If you have not already done so, please cast your votes now so that we can tabulate the votes taken at today's meeting. It is now 8:07 A.M. Pacific Time on June 11, 2026. Having no other business properly before this meeting, the polls for each matter to be voted on at this meeting are now closed. No additional ballots, proxies, or votes, and no changes or revocations will be accepted. Today, I can provide the preliminary voting results from the tabulation of proxies and ballots previously submitted. Any votes cast today before the polls will close, including those submitted electronically during the meeting, will be counted in the final tally. Regarding proposal number one, the election of directors, all seven nominees were elected to the board. Regarding proposal number two, the appointment of Deloitte & Touche LLP to serve as our independent auditor for the fiscal year ending December 31, 2026, has been ratified. These are the preliminary results of voting. The final count may vary following final examination of proxies and any ballots. The final results of voting, including any ballots and proxies recorded during this meeting, will be set forth in the report of the inspection of election. The final results will also be recorded in our filings with the U.S. Securities and Exchange Commission. The annual meeting of stockholders is now adjourned. Thank you for your participation. We will now proceed with some concluding remarks from management, a management presentation, and a question and answer period from our stockholders. As a reminder, we may make forward-looking statements during this meeting and in the comments in Q&A that follow. Actual results may differ from these statements. We refer you to the documents that the company files from time to time with the Securities and Exchange Commission. In particular, the company's last filed quarterly report on Form 10-Q, as filed with the SEC on May 14, 2026. These documents contain and identify important factors that could cause the company's actual results to differ materially from those contained in our projections or forward-looking statements. With that, I would like to turn the meeting back over to our President and Chief Executive Officer, Paul LaViolette. Thank you, Ken. I'd like to provide a brief update on Pulse Biosciences with a short presentation. Then we'll open the call for any questions that listeners may have. The company's had a very productive past year. We are carrying tremendous momentum into the next 12 months and beyond. To be clear, our mission is to be a viable company. We are very focused on generating next-generation therapeutic solutions dependent upon nsPFA to improve and extend patients' lives. We will do that with first-in-class and best-in-class technologies and best-in-class performance in all things we do with the goal of making a positive difference in the lives of patients. Our team has been strong and has been strengthened over this past year. First and foremost, I'd like to formally welcome Maria Sainz to the board. Maria brings a tremendous background of operating and governance experience concentrated in the medical technology field, and we are a better company for her joining. I'd also like to formally welcome to this first annual meeting of her service, Liane Teplitsky, as Chief Operating Officer. Liane joined the company now several months ago and is already having a profound impact on our performance. Additionally, Dr. David Kenigsberg, previously a part-time Chief Medical Officer for Pulse Biosciences and a key opinion leader electrophysiologist, has joined the company on a full-time basis and does so at a perfect time to help guide our pivotal study for atrial fibrillation. Last, but by no means least, I'd like to recognize the continued service of Darrin Uecker and Robert Duggan, who make invaluable contributions every day to the performance of the team and the company. Providing just a very brief snapshot of our financial performance. Our balance sheet remains strong with $68 million of cash or cash equivalents at the end of the first quarter. We are increasing our expenditures or our cash burn focused on strategic initiatives, importantly based upon the company's principal focus of leading the atrial fibrillation pivotal study to success this year and over the next year. In Q1 2026, we also recorded early-stage revenue from our thyroid technology program, which is commercial in status and is undergoing an early market development program. We also announced $13.3 million of insider investment in May through our ATM vehicle. We also announced recently that we will be redeeming warrants in the next month or so for approximately $2.1 million. I just want to reinforce that our ATM is now open and active. From a strategic perspective, we are focused on and actively enrolling our Investigational Device Exemption trial in AFib. We originally announced that we expected that trial to be completed by the end of the year. Most recently, we announced that we expect to now complete that trial earlier, currently projected to be by the first part of October of this year. We continue in our overall strategy for the EP business to be in pursuit of a partnership strategy. Just let me remind everyone briefly about the advantage we have in Pulse Biosciences with Nanosecond Pulsed Field Ablation. As a background, ablation is performed millions of times a year in multiple indications using thermal energy to treat tissue via destruction using extreme temperatures. That's effective but inelegant. Over the past two years, first generation or microsecond pulse field ablation has been introduced, has had a profound impact on particularly the electrophysiology marketplace, and albeit is a first-generation form of that energy. It kills cells with a mechanism called electroporation. Nanosecond PFA, which we mentioned earlier, is novel and really the exclusive domain of Pulse Biosciences, is a next generation form, an entirely new form of electrical energy delivery into the body. Nanosecond pulses are extremely short, and they, when combined with the right degree of energy, induce regulated cell death, which is a very novel mechanism of action and can be unleashed across multiple clinical indications. We believe it is really a form of energy as medicine inside the cell. AFib, atrial fibrillation, is the number 1 most common arrhythmia for patients worldwide. It has produced a market of approximately $3 billion-$3.5 billion in the U.S. for ablation catheters. It is the combination of the size and growth of this market and its affinity for next generation energies that has us focusing our company's resources on delivering this as our first major market program. To be clear, we have extensive experience already based on European feasibility study work with over 175 patients treated outside the U.S. before initiating our pivotal study in the U.S. We believe we have seen clear evidence that nsPFA from Pulse Biosciences produces a more definitive treatment or higher lesion quality, that it produces a procedure of easier to use experience for the physician, and improved patient throughput to solve significant capacity constraints to treat the atrial fibrillation population worldwide. We have early evidence of improved outcomes, which leads to lower recurrence of AFib for patients treated with nsPFA. As an indication of that, let's just take a very brief look at some of the data that we have produced. Importantly, in the highlighted gray boxes on the lower left-hand side of the slide, you see 12-month procedure success at 96%, which is an unprecedentedly high level of clinical performance in this type of procedure, and 12-month freedom from atrial flutter, atrial fibrillation, or atrial tachycardia, as evidenced by the Kaplan-Meier curve on the right-hand side. Those levels are also unprecedented for this field. We are validating these extremely impressive data points in our U.S. pivotal study. We will be producing supporting data from ongoing tracking of the expanded European feasibility study as we proceed throughout the next year. Overall, we are extremely pleased with our position and performance. We are the first and only nanosecond pulse energy company. We have a profound estate of intellectual property to protect that asset at over 250 owned or licensed patents and growing by the month. We are performing studies to generate clinical evidence in electrophysiology and markets beyond EP and generating disruptive data. We clearly have target markets that can be upended by novel energy, supported by excellent team execution. We have created meaningful value over the past 12 months. With that, we have the resources in hand to achieve our goals. We have strengthened our team and are moving faster today in 2026, and expect to continue that same momentum into 2027. With that, I'll conclude my formal remarks. Operator, I'd like to turn this over to you and open up the session for any questions we may have. Well, it appears that there are no questions. With that, I'd like to thank everyone for attending today's meeting and for the interest you have shown in Pulse Biosciences. We very much appreciate your attendance today, and as always, thank you for your support. Thank you. The 2026 Annual Meeting of Stockholders of Pulse Biosciences, Inc. has now come to an end. Thank you for attending. You may now disconnect.
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