0001625101-21-000023 | 10-Q | XBRL Viewer

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Summary Of Significant Accounting Policies (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
Summary Of Significant Accounting Policies [Abstract]
Accumulated deficit	$ (191,179)		$ (172,540)
Cash used in operating activities	(11,687)	$ (9,622)
Right-of-use assets	$ 9,280		$ 9,438

Commitments And Contingencies (Schedule Of Information Related To Right-Of-Use Assets And Lease Liabilities) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Dec. 31, 2020
Commitments And Contingencies [Abstract]
Current operating lease liabilities	$ 629	$ 542
Non-current operating lease liabilities	10,632	$ 10,814
Total lease liabilities	11,261
Cash paid for operating lease liabilities	$ 375
Weighted average remaining lease term	8 years 7 months 2 days
Weighted average discount rate	10.00%

Stockholders' Equity And Stock-Based Compensation (Tables)

3 Months Ended

Mar. 31, 2021

Stockholders' Equity [Line Items]

Summary Of Stock Option Activity



	Stock Options Outstanding
			Weighted
	Number		average
	of shares		exercise price
Balances — December 31, 2020	5,039,194	$	14.26
Options granted	608,815
Options exercised	(39,981)
Options canceled	(68,654)
Options expired	(62,738)
Balances — March 31, 2021	5,476,636	$	15.47
Exercisable — March 31, 2021	2,905,929	$	16.13

Summary Of Stock-Based Compensation Expense



	Three-Month Periods Ended
	March 31,
	2021		2020
Research and development	$	3,166	$	877
Sales and marketing		1,761		310
General and administrative		2,038		1,439
Total stock-based compensation expense	$	6,965	$	2,626

Employee Stock Option [Member]

Stockholders' Equity [Line Items]

Schedule Of Fair Value Of Employee Stock Options



	Three-Month Periods Ended March 31,
	2021	2020
Expected term in years	6.1	6.1
Expected volatility	78%	70%
Risk-free interest rate	1.0 - 1.1%	0.4 - 1.7%
Dividend yield	—	—

2017 Employee Stock Purchase Plan [Member]

Stockholders' Equity [Line Items]

Schedule Of Fair Value Of Employee Stock Options



	Three-Month Periods Ended March 31,
	2021	2020
Expected term in years	0.5 - 1.0	0.5 - 1.0
Expected volatility	91%	70%
Risk-free interest rate	0.07 - 0.08%	0.9 - 1.0%
Dividend yield	—	—

Stockholders' Equity And Stock-Based Compensation (Summary Of Exercise Price Of Stock Options Outstanding And Exercisable) (Details)	Mar. 31, 2021 $ / shares
Stockholders' Equity And Stock-Based Compensation [Abstract]
Weighted average exercise price	$ 16.13

Summary Of Significant Accounting Policies (Policy)

3 Months Ended

Mar. 31, 2021

Summary Of Significant Accounting Policies [Abstract]

COVID-19 Pandemic

The Company is subject to risks and uncertainties as a result of the novel coronavirus pandemic (COVID-19). The extent of the impact of the COVID-19 pandemic on the Company’s business is highly uncertain and difficult to predict, as the response to the pandemic continues to evolve. The Company considered the impact of COVID-19 on the assumptions and estimates used to determine the results reported and asset valuations as of March 31, 2021.

Basis Of Presentation

Basis of Presentation

The accompanying unaudited condensed consolidated financial statements have been prepared on a basis consistent with the Company’s December 31, 2020 audited Consolidated Financial Statements and include all adjustments, consisting of only normal recurring adjustments, necessary to fairly state the information set forth herein. The condensed consolidated financial statements have been prepared in accordance with the applicable rules and regulations of the Securities and Exchange Commission (SEC) and, as permitted by such rules and regulations, omit certain information and footnote disclosures necessary to present the financial statements in accordance with accounting principles generally accepted in the United States (U.S. GAAP). The condensed consolidated balance sheet as of December 31, 2020 was derived from the audited consolidated financial statements as of that date but does not include all of the information and footnotes required by U.S. GAAP for complete financial statements. These condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2020. The results of operations for the three-month periods ended March 31, 2021 are not necessarily indicative of the results to be expected for the entire year or any future periods.

Certain prior period balances have been reclassified to conform to the current period presentation in the consolidated financial statements and the accompanying notes. Sales and marketing expenses are reclassified out of general and administrative expenses and presented as a separate line item. Amortization of intangible assets are reclassified to general and administrative expenses.

Principles Of Consolidation

Principles of Consolidation

The accompanying condensed consolidated financial statements include the financial statements of Pulse Biosciences, Inc. and its wholly-owned subsidiaries. Intercompany balances and transactions, if any, have been eliminated in consolidation.

Use Of Estimates

Use of Estimates

The preparation of financial statements in conformity with U.S. GAAP requires the Company to make estimates and assumptions that affect the amounts reported in the Financial Statements and accompanying notes to the condensed consolidated financial statements. Estimates include, but are not limited to, the valuation of cash equivalents and investments, the valuation and recognition of share-based compensation and the useful lives assigned to long-lived assets. The Company evaluates its estimates and assumptions based on historical experience and other factors and adjusts those estimates and assumptions when facts and circumstances dictate. Actual results could differ materially from these estimates.

Significant Accounting Policies

The Company’s significant accounting policies are described in the Company’s Annual Report on Form 10-K for the year ended December 31, 2020. The Company continually evaluates the accounting policies and estimates used in preparing the consolidated financial statements. During the three-month period ended March 31, 2021, the Company received 510(k) clearance and CE marking approval for the CellFX System and began to capitalize inventory in preparation of commercialization.

Valuation Of Inventory

Valuation of Inventory

Inventory is stated at lower of cost or net realizable value. The Company establishes the inventory basis by determining the cost based on standard costs approximating the purchase costs on a first-in, first-out basis. Net realizable value is the estimated selling price in the ordinary course of the Company’s business, less reasonably predictable costs of completion, disposal, and transportation. The cost basis of the Company’s inventory will be reduced for any products that are considered excessive or obsolete based upon assumptions about future demand and market conditions. At March 31, 2021 there is no reduction to the balance of inventory for excessive and obsolete inventory.

Net Loss Per Share

Net Loss per Share

The Company calculates basic net loss per share by dividing net loss by the weighted-average number of shares of common stock outstanding during the period. Diluted net loss per share is computed by giving effect to all potential dilutive common stock equivalents outstanding during the period. For purposes of this calculation, options to purchase common stock and common stock warrants are considered common stock equivalents. Potential common shares that have an anti-dilutive effect (i.e., those that increase income per share or decrease loss per share) are excluded from the calculation of diluted net loss per share.

Basic and diluted net loss per common share is the same for all periods presented because all warrants, stock options and restricted stock units outstanding are anti-dilutive.

The following outstanding stock options, warrants and restricted stock units were excluded from the computation of diluted net loss per share for the periods presented because including them would have had an anti-dilutive effect:



	Three-Month Periods Ended
	March 31,
	2021		2020
Common stock warrants		600		167,847
Common stock options		5,476,636		3,891,607
Restricted stock units		111,305		222,606
Total		5,588,541		4,282,060

Recent Accounting Pronouncement

In December 2019, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes, which eliminates certain exceptions related to the general principles in Accounting Standards Codification (ASC) 740 and makes amendments to other areas with the intention of simplifying various aspects related to accounting for income taxes. The new standard is effective for fiscal years beginning after December 15, 2020, including interim periods therein; with early adoption permitted. The Company adopted the Topic 740 effective January 1, 2021. The adoption did not have a material impact on the Company’s financial statements.

- Definition

Disclosure of inventory accounting policy for inventory classes, including, but not limited to, basis for determining inventory amounts, methods by which amounts are added and removed from inventory classes, loss recognition on impairment of inventories, and situations in which inventories are stated above cost.

+ References + Details

Stockholders' Equity And Stock-Based Compensation (Summary Of Stock Option Activity) (Details)	3 Months Ended
	Mar. 31, 2021 $ / shares shares
Stockholders' Equity And Stock-Based Compensation [Abstract]
Beginning Balance, Number of shares	5,039,194
Options granted, Number of shares	608,815
Options exercised, Number of shares	(39,981)
Options canceled, Number of shares	(68,654)
Options expired, Number of shares	(62,738)
Ending Balance, Number of shares	5,476,636
Exercisable, Number of shares	2,905,929
Beginning Balance, Weighted average exercise price per share \| $ / shares	$ 14.26
Ending Balance, Weighted average exercise price per share \| $ / shares	15.47
Exercisable, Weighted average exercise price per share \| $ / shares	$ 16.13

Commitments And Contingencies

3 Months Ended

Mar. 31, 2021

Commitments And Contingencies [Abstract]

Commitments And Contingencies

8. Commitments and Contingencies

Loan Agreement

On March 11, 2021, the Company and Robert W. Duggan entered into a Loan Agreement in connection with Mr. Duggan lending the principal sum of $41.0 million to the Company. The Loan Agreement bears interest at a rate per annum equal to 5.0%, payable quarterly commencing on July 1, 2021. The interest rate payable under the Loan Agreement increases to 7.0% upon the occurrence of an Event of Default or a Material Adverse Effect, each as defined in the Loan Agreement. All unpaid principal amount of the Loan Agreement, together with any then unpaid and accrued interest, shall be payable at the earlier of (i) June 11, 2022 or (ii) when, upon the occurrence and during the continuance of an Event of Default, such amounts are declared due and payable by Mr. Duggan or made automatically due and payable, in each case, in accordance with the terms thereof, including any applicable cure periods as set forth in the Loan Agreement. A late payment fee equal to 2.0% will be applied to any payments received later than one (1) business day after the expiration of the applicable cure period. Upon five business days prior written notice to Mr. Duggan, the Company may prepay all or any portion of the amounts borrowed under the Loan Agreement, without premium or penalty. The Loan Agreement subjects the Company to certain affirmative and negative covenants. In addition, the Loan Agreement contains certain Events of Default. During the three-month period ended March 31, 2021, the Company accrued $0.1 million of interest which is recorded as current portion of related party note payable.

Operating Leases

During January 2017, the Company entered into a five-year lease (Existing Lease) for approximately 15,700 square feet for its corporate headquarters located in Hayward, California. The lease commenced during July 2017.

During May 2019, the Company entered into Lease Amendment 1 (Amendment) in relation to the Existing Lease and added the lease of new premises of approximately 13,300 square feet and 21,300 square feet, (Expansion Premises 1 and Expansion Premises 2, respectively). Additionally, the term of the Existing Lease was extended to be coterminous with Expansion Premises 1 and Expansion Premises 2, effective October 2029.

The Company evaluated the lease amendment under the provisions of ASC 842. It concluded that the Amendment would be accounted for as a single contract with the Existing Lease because the additional lease payments due to the Amendment was not commensurate with the right-of-use (ROU) asset granted to the Company. Though the Amendment was accounted for as a single contract, the Existing Premises, Expansion Premises 1 (occupied in November 2019) and Expansion Premises 2 (occupied in May 2020) are accounted for as separate lease components. Accordingly, the Company measured and allocated consideration to each lease component as of the modification date.

Information related to the Company’s ROU assets and related lease liabilities are as follows (in thousands, except for remaining lease term and discount rate):


Year Ending December 31:
2021 (remaining 9 months)	$	1,268
2022		1,806
2023		1,845
2024		1,910
2025		1,977
2026		2,046
Thereafter		6,191
Total lease payments		17,043
Less imputed interest		(5,782)
Total lease liabilities	$	11,261

Other supplemental information:
Current operating lease liabilities	$	629
Non-current operating lease liabilities		10,632
Total lease liabilities	$	11,261

Cash paid for operating lease liabilities	$	375

Weighted average remaining lease term		8.59
Weighted average discount rate		10%

Rent expense, including common area maintenance charges, was $0.5 million and $0.2 million during the three-month periods ended March 31, 2021 and 2020, respectively.

Legal Proceedings

The Company maintains indemnification agreements with its directors and officers that may require the Company to indemnify them against liabilities that arise by reason of their status or service as directors or officers, except as prohibited by applicable law.

From time to time, the Company may be involved in a variety of claims, lawsuits, investigations and proceedings relating to securities laws, product liability, patent infringement, contract disputes and other matters relating to various claims that arise in the normal course of the Company’s business. The Company currently believes that these ordinary course matters are not material to the condensed consolidated financial statements of the business; however, the results of litigation and claims are inherently unpredictable.

Balance Sheet Components (Schedule Of Intangible Assets, Net) (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Balance Sheet Components [Abstract]
Acquired patents and licenses	$ 7,985	$ 7,985
Less: Accumulated amortization	(4,270)	(4,103)
Intangible assets, net	$ 3,715	$ 3,882

Goodwill

3 Months Ended

Mar. 31, 2021

Goodwill [Abstract]

Goodwill

5. Goodwill

In 2014, the Company acquired three companies (the acquisitions) for aggregate consideration of $5.5 million. In accordance with ASC Topic 805, Business Combinations, the Company recorded goodwill of $2.8 million in connection with the acquisitions as the consideration paid exceeded the fair value of the net tangible assets and the intangible assets acquired.

The Company reviews goodwill for impairment at least annually or whenever changes in circumstances indicate that the carrying amount of goodwill may not be recoverable. Based on the Company’s annual impairment test as of December 31, 2020 the Company determined that no impairment of goodwill existed and was not aware of any indicators of impairment at such date. In addition, there were no indicators of impairment at March 31, 2021.

Balance Sheet Components (Schedule Of Accrued Expenses) (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Balance Sheet Components [Abstract]
Compensation	$ 2,718	$ 3,324
Director and officer liability insurance (Note 10)	2,188	1,563
Clinical trial costs and fees	223	188
Professional fees	106	87
Controlled launch (Note 9)	135
Other	247	164
Accrued expenses	$ 5,617	$ 5,326

Stockholders' Equity And Stock-Based Compensation (Summary Of Stock Warrant Activity) (Details)	3 Months Ended
	Mar. 31, 2021 $ / shares shares
Stockholders' Equity And Stock-Based Compensation [Abstract]
Beginning Balance, Number of shares	5,039,194
Options granted, Number of shares	608,815
Options exercised, Number of shares	(39,981)
Options canceled, Number of shares	(68,654)
Options expired, Number of shares	(62,738)
Ending Balance, Number of shares	5,476,636
Beginning Balance, Weighted average exercise price per share \| $ / shares	$ 14.26
Ending Balance, Weighted average exercise price per share \| $ / shares	$ 15.47

Balance Sheet Components (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
Balance Sheet Components [Abstract]
Depreciation expense	$ 113	$ 104
Intangible asset useful life	12 years
Compensation	$ 2,718		$ 3,324

Balance Sheet Components

3 Months Ended

Mar. 31, 2021

Balance Sheet Components [Abstract]

Balance Sheet Components

4. Balance Sheet Components

Property and Equipment, Net

Property and equipment, net consisted of the following (in thousands):



	March 31,		December 31,
	2021		2020
Leasehold improvements	$	2,827	$	2,805
Laboratory equipment		912		878
Furniture, fixtures, and equipment		562		517
Software		128		128
Construction in progress		30		66
		4,459		4,394
Less: Accumulated depreciation		(2,029)		(1,916)
Property and equipment, net	$	2,430	$	2,478

Depreciation expense was $0.1 million for each of the three-month periods ended March 31, 2021 and 2020.

Intangible Assets, Net

Intangible assets primarily consist of acquired licenses to utilize certain patents, know-how and technology relating to the Company’s NPS technology for biomedical applications acquired from Old Dominion University Research Foundation (ODURF), Eastern Virginia Medical School, and the University of Southern California. In addition, the Company entered into a Sponsored Research Agreement with Old Dominion University’s Frank Reidy Research Center for Bioelectrics, which includes certain intellectual property rights arising from the research. The Company is amortizing the intangible assets over an estimated useful life of 12 years.

Intangible assets, net consisted of the following (in thousands):



	March 31,		December 31,
	2021		2020
Acquired patents and licenses	$	7,985	$	7,985
Less: Accumulated amortization		(4,270)		(4,103)
Intangible assets, net	$	3,715	$	3,882

A schedule of the amortization of intangible assets for the remainder of 2021 and the succeeding five fiscal years is as follows (in thousands):


Year Ending December 31:
2021 (remaining 9 months)	$	499
2022		665
2023		665
2024		665
2025		665
2026		556
Total	$	3,715

Accrued Expenses

Accrued expenses consisted of the following (in thousands):



	March 31,		December 31,
	2021		2020
Compensation	$	2,718	$	3,324
Director and officer liability insurance (Note 10)		2,188		1,563
Clinical trial costs and fees		223		188
Professional fees		106		87
Controlled launch (Note 9)		135		—
Other		247		164
Total accrued expenses	$	5,617	$	5,326

Commitments And Contingencies (Tables)

3 Months Ended

Mar. 31, 2021

Commitments And Contingencies [Abstract]

Schedule Of Maturity Lease Payments


Year Ending December 31:
2021 (remaining 9 months)	$	1,268
2022		1,806
2023		1,845
2024		1,910
2025		1,977
2026		2,046
Thereafter		6,191
Total lease payments		17,043
Less imputed interest		(5,782)
Total lease liabilities	$	11,261

Schedule Of Information Related To Right-Of-Use Assets And Lease Liabilities

Other supplemental information:
Current operating lease liabilities	$	629
Non-current operating lease liabilities		10,632
Total lease liabilities	$	11,261

Cash paid for operating lease liabilities	$	375

Weighted average remaining lease term		8.59
Weighted average discount rate		10%

Stockholders' Equity And Stock-Based Compensation (Schedule Of Fair Value Of Employee Stock Options) (Details)	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Employee Stock Option [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expected volatility	78.00%	70.00%
Employee Stock Option [Member] \| Minimum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expected term in years	6 years 1 month 6 days	6 years 1 month 6 days
Risk-free interest rate	1.00%	0.40%
Employee Stock Option [Member] \| Maximum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Risk-free interest rate	1.10%	1.70%
2017 Employee Stock Purchase Plan [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expected volatility	91.00%	70.00%
2017 Employee Stock Purchase Plan [Member] \| Minimum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expected term in years	6 months	6 months
Risk-free interest rate	0.07%	0.90%
2017 Employee Stock Purchase Plan [Member] \| Maximum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expected term in years	1 year	1 year
Risk-free interest rate	0.08%	1.00%

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Current assets:
Cash and cash equivalents	$ 59,883	$ 12,463
Investments		8,012
Inventory	1,135
Prepaid expenses and other current assets	958	1,864
Total current assets	61,976	22,339
Property and equipment, net	2,430	2,478
Intangible assets, net	3,715	3,882
Goodwill	2,791	2,791
Right-of-use assets	9,280	9,438
Other assets	365	365
Total assets	80,557	41,293
Current liabilities:
Accounts payable	2,164	1,717
Accrued expenses	5,617	5,326
Lease liability, current	629	542
Related party note payable, current (Note 8)	118
Total current liabilities	8,528	7,585
Lease liability, less current	10,632	10,814
Related party note payable, less current	41,000
Total liabilities	60,160	18,399
Commitments and contingencies (Note 8)
Stockholders' equity:
Preferred stock, $0.001 par value; authorized – 50,000 shares; no shares issued and outstanding
Common stock, $0.001 par value: authorized – 500,000 shares; issued and outstanding – 26,401 shares and 25,550 shares at March 31, 2021 and December 31, 2020, respectively	26	25
Additional paid-in-capital	211,550	195,410
Accumulated other comprehensive income (loss)		(1)
Accumulated deficit	(191,179)	(172,540)
Total stockholders' equity	20,397	22,894
Total liabilities and stockholders' equity	$ 80,557	$ 41,293

Stockholders' Equity And Stock-Based Compensation (Summary Of Stock-Based Compensation Expense) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Total stock-based compensation expense	$ 6,965	$ 2,626
General And Administrative [Member]
Total stock-based compensation expense	2,038	1,439
Research And Development [Member]
Total stock-based compensation expense	$ 3,166	$ 877

Stockholders' Equity And Stock-Based Compensation (Narrative) (Details)				1 Months Ended				3 Months Ended
	Feb. 05, 2021 $ / shares shares	Feb. 04, 2021 USD ($) $ / shares shares	Jan. 01, 2021 shares	Mar. 31, 2021 USD ($) $ / shares shares	Feb. 28, 2021 USD ($)	Feb. 04, 2021 USD ($) $ / shares shares	Jun. 30, 2020 USD ($) $ / shares shares	Mar. 31, 2021 USD ($) $ / shares shares	Mar. 31, 2020 USD ($) shares	Dec. 31, 2020 $ / shares shares	Nov. 30, 2017 shares	Dec. 31, 2016 $ / shares shares	Dec. 31, 2014 $ / shares shares
Stockholders' Equity [Line Items]
Common stock, par value \| $ / shares				$ 0.001				$ 0.001		$ 0.001
Proceeds from issuance of common stock under employee stock purchase plan \| $								$ 430,000	$ 255,000
Common stock, shares issued				26,401,000				26,401,000		25,550,000
Options granted								608,815
Warrants exercised								39,981
Exercise price \| $ / shares				$ 16.13				$ 16.13
Total stock-based compensation expense \| $								$ 6,965,000	2,626,000
Cash received from option exercises \| $								$ 619,000	9,000
2017 Employee Stock Purchase Plan [Member]
Stockholders' Equity [Line Items]
Common stock, shares issued				68,057				68,057
Shares authorized				250,000				250,000
Additional common stock reserved for issuance								383,250
Increase in shares available for issuance threshold of common stock outstanding, number of shares								450,000
Increase in shares available for issuance threshold of common stock outstanding, percent outstanding								1.50%
Shares available for grant				672,417				672,417
2017 Inducement Equity Incentive Plan [Member]
Stockholders' Equity [Line Items]
Term period								10 years
Shares authorized											1,000,000
Shares available for grant				23,346				23,346
2017 Plan [Member]
Stockholders' Equity [Line Items]
Term period								10 years
Shares authorized				1,500,000				1,500,000
Additional common stock reserved for issuance			1,022,002
Increase in shares available for issuance threshold of common stock outstanding, number of shares								1,200,000
Increase in shares available for issuance threshold of common stock outstanding, percent outstanding								4.00%
Shares available for grant				998,290				998,290
Rights Offering [Member]
Stockholders' Equity [Line Items]
Price per share \| $ / shares							$ 7.01
Value of warrants/rights \| $							$ 30,000,000
Net proceeds \| $						$ 4,500,000	$ 29,400,000
Warrants/rights outstanding				0			641,571	0
Warrants exercised	5,139					636,432
Exercise price of warrants/rights \| $ / shares							$ 7.01
Redemption per warrant \| $ / shares	$ 0.01						$ 0.01
Period the warrants are exercisable after issuance								30 days
Percentage requirement for warrant redemption							200.00%
Period of time required for redemption of warrants								10 days
Number of common shares called by issuance of warrants							4,279,600
Rights Offering [Member] \| Rights Offering [Member]
Stockholders' Equity [Line Items]
Common stock, par value \| $ / shares							$ 0.001
Number of warrants to purchase shares of common stock							0.15
First Vesting Portion [Member] \| 2017 Inducement Equity Incentive Plan [Member]
Stockholders' Equity [Line Items]
Vesting percentage								25.00%
General And Administrative [Member]
Stockholders' Equity [Line Items]
Total stock-based compensation expense \| $								$ 2,038,000	1,439,000
Research And Development [Member]
Stockholders' Equity [Line Items]
Total stock-based compensation expense \| $								3,166,000	$ 877,000
Employee Stock Option [Member]
Stockholders' Equity [Line Items]
Total stock-based compensation expense \| $					$ 0			$ 4,200,000
Private Placement [Member]
Stockholders' Equity [Line Items]
Common stock, par value \| $ / shares													$ 0.001
Chairman, Robert W. Duggan [Member] \| Rights Offering [Member]
Stockholders' Equity [Line Items]
Ownership percentage				47.00%				47.00%		43.00%
Shares purchased								2,561,873
Common Stock
Stockholders' Equity [Line Items]
Warrants exercised								40,000	1,000
Common Stock \| Rights Offering [Member]
Stockholders' Equity [Line Items]
Warrants/rights outstanding				641,571				641,571
Robert W. Duggan [Member] \| Rights Offering [Member]
Stockholders' Equity [Line Items]
Ownership percentage				47.00%			43.00%	47.00%
Number of common shares called by issuance of warrants							2,561,873
MDB Capital Group, LLC [Member] \| Initial Public Offering [Member]
Stockholders' Equity [Line Items]
Price per share \| $ / shares												$ 5.00
Common stock received from rights/warrants exercised				68,958				68,958
Warrants/rights outstanding				0				0
Warrants exercised				85,385
Exercisable period of warrants or rights								5 years
Number of common shares called by issuance of warrants												574,985
MDB Capital Group, LLC [Member] \| Private Placement [Member]
Stockholders' Equity [Line Items]
Price per share \| $ / shares													$ 2.67
Common stock received from rights/warrants exercised				40,563				40,563
Warrants/rights outstanding				600				600
Warrants exercised				45,638
Exercisable period of warrants or rights								7 years
Number of common shares called by issuance of warrants													299,625
Stifel, Nicolaus & Company Inc. [Member] \| At the Market Offering [Member]
Stockholders' Equity [Line Items]
Value of warrants/rights \| $		$ 60,000,000.0				$ 60,000,000.0
Net proceeds \| $		$ 5,000,000.0						$ 4,900,000
Other receivables from at-the-market offering \| $				$ 100,000				$ 100,000
Warrants/rights outstanding		157,742				157,742
Exercise price of warrants/rights \| $ / shares		$ 34.29				$ 34.29

Balance Sheet Components (Tables)

3 Months Ended

Mar. 31, 2021

Balance Sheet Components [Abstract]

Schedule Of Property And Equipment, Net



	March 31,		December 31,
	2021		2020
Leasehold improvements	$	2,827	$	2,805
Laboratory equipment		912		878
Furniture, fixtures, and equipment		562		517
Software		128		128
Construction in progress		30		66
		4,459		4,394
Less: Accumulated depreciation		(2,029)		(1,916)
Property and equipment, net	$	2,430	$	2,478

Schedule Of Intangible Assets, Net



	March 31,		December 31,
	2021		2020
Acquired patents and licenses	$	7,985	$	7,985
Less: Accumulated amortization		(4,270)		(4,103)
Intangible assets, net	$	3,715	$	3,882

Schedule Of Amortization Of Intangible Assets


Year Ending December 31:
2021 (remaining 9 months)	$	499
2022		665
2023		665
2024		665
2025		665
2026		556
Total	$	3,715

Schedule Of Accrued Expenses



	March 31,		December 31,
	2021		2020
Compensation	$	2,718	$	3,324
Director and officer liability insurance (Note 10)		2,188		1,563
Clinical trial costs and fees		223		188
Professional fees		106		87
Controlled launch (Note 9)		135		—
Other		247		164
Total accrued expenses	$	5,617	$	5,326

Condensed Consolidated Statements Of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Cash flows from operating activities:
Net loss	$ (18,639)	$ (11,872)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation	113	104
Amortization of intangible assets	167	166
Stock-based compensation	6,965	2,626
Net premium amortization and discount on available-for-sale securities	13	(4)
Changes in operating assets and liabilities:
Inventory	(1,135)
Prepaid expenses and other current assets	(124)	460
Other receivables	48
Right-of-use assets	158	71
Other long-term assets		(68)
Accounts payable	433	(749)
Accrued expenses	291	(425)
Accrued interest on related party note	118
Lease liabilities	(95)	69
Net cash used in operating activities	(11,687)	(9,622)
Cash flows from investing activities:
Purchases of property and equipment	(51)	(171)
Purchases of investments		(3,006)
Maturities of investments	8,000	13,500
Net cash provided by investing activities	7,949	10,323
Cash flows from financing activities:
Proceeds from issuance of common stock under employee stock purchase plan	430	255
Proceeds from exercises of warrants	4,217
Proceeds from exercises of stock options	619	9
Proceeds from the issuance of common stock from at-the-market equity offering	4,892
Proceeds from issuance of related party note	41,000
Net cash provided by financing activities	51,158	264
Net increase in cash	47,420	965
Cash and cash equivalents at beginning of period	12,463	6,899
Cash and cash equivalents at end of period	59,883	7,864
Supplemental disclosure of noncash investing and financing activities:
Change in unrealized gains on available-for-sale securities	1	$ 13
Unpaid property and equipment included in accounts payable and accrued expenses	14
Other receivable from issuance of common stock from at-the-market equity offering	$ (71)

Commitments And Contingencies (Schedule Of Maturity Lease Payments) (Details) $ in Thousands	Mar. 31, 2021 USD ($)
Commitments And Contingencies [Abstract]
2021 (remaining 9 months)	$ 1,268
2022	1,806
2023	1,845
2024	1,910
2025	1,977
2026	2,046
Thereafter	6,191
Total lease payments	17,043
Less imputed interest	(5,782)
Total lease liabilities	$ 11,261

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Mar. 31, 2021	Dec. 31, 2020
Condensed Consolidated Balance Sheets [Abstract]
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, shares authorized	50,000,000	50,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	500,000,000	500,000,000
Common stock, shares issued	26,401,000	25,550,000
Common stock, shares outstanding	26,401,000	25,550,000

Document And Entity Information - shares	3 Months Ended
Document And Entity Information - shares	Mar. 31, 2021	Apr. 30, 2021
Document And Entity Information [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2021
Current Fiscal Year End Date	--12-31
Document Transition Report	false
Entity File Number	001-34899
Entity Registrant Name	Pulse Biosciences, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	46-5696597
Entity Address, Address Line One	3957 Point Eden Way
Entity Address, City or Town	Hayward
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	94545
City Area Code	510
Local Phone Number	906-4600
Title of 12(b) Security	Common Stock, par value $0.001 per share
Trading Symbol	PLSE
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	true
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		26,460,353
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q1
Entity Central Index Key	0001625101
Amendment Flag	false

Research Grants And Agreements

3 Months Ended

Mar. 31, 2021

Research Grants And Agreements [Abstract]

Research Grants And Agreements

7. Research Grants and Agreements

Sponsored Research Agreement

Annually, the Company may sponsor research activities (SRAs) performed by Old Dominion University’s Frank Reidy Center (ODURF). ODURF is compensated by the Company for its conduct of each study in accordance with the budget and payment terms set forth in the applicable task order. In March 2021, the Company renewed the SRAs and agreed to sponsor $0.3 million in research during the subsequent 12-month period funded through periodic payments made upon ODURF certifying, to the Company’s reasonable satisfaction, that ODURF has met its obligations pursuant to the specified task order and statement of work. The principal investigator may transfer funds with the budget as needed without the Company’s approval so long as the obligations of ODURF under the task order and statement of work remain unchanged and unimpaired. During the three-month periods ended March 31, 2021 and 2020, the Company incurred costs relating to the SRAs equal to $0.0 million and $0.2 million, respectively.

Balance Sheet Components (Schedule Of Amortization Of Intangible Assets) (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Balance Sheet Components [Abstract]
2021 (remaining 9 months)	$ 499
2022	665
2023	665
2024	665
2025	665
2026	556
Intangible assets, net	$ 3,715	$ 3,882

Related Party Transactions

3 Months Ended

Mar. 31, 2021

Related Party Transactions

10. Related Party Transactions

Kenneth A. Clark, a director of the Company since November 2017, is a member of the law firm of Wilson Sonsini Goodrich and Rosati (WSGR), which also serves as the outside corporate counsel to the Company. During the three-month period ended March 31, 2021, the Company incurred expenses reported in general and administrative in the consolidated statement of operations for legal services rendered by WSGR totaling approximately $0.2 million. Additionally, in June 2020, the Company incurred approximately $0.4 million of legal expenses in connection with the rights offering which was offset against the gross proceeds, and during the three-month period ended March 31, 2021, the Company incurred an additional $0.2 million of legal expenses in connection with the at-the-market equity offering which was offset against the gross proceeds (Note 6). During the three-month period ended March 31, 2020, the Company incurred expenses for legal services rendered by WSGR totaling approximately $0.1 million.

During June 2020, the Company completed the Rights Offering. See Note 6 for details about the Rights Offering. Robert W. Duggan, the Company’s Chairman of the Board of Directors and the beneficial owner of approximately 43% of the Company’s outstanding common stock prior to the Rights Offering, participated in the Rights Offering and purchased an aggregate of 2,561,873 Units. After giving effect to the Rights Offering, including exercise of the Rights Offering Warrants, Mr. Duggan was the beneficial owner of approximately 47% of the Company’s outstanding stock as of March 31, 2021.

The Company determined not to renew its director and officer liability insurance policies due to disproportionately high premiums quoted by insurance companies. Instead, Robert W. Duggan and the Company entered into a letter agreement, dated May 12, 2020 (Letter Agreement), pursuant to which Mr. Duggan agreed with the Company to personally provide indemnity coverage on substantially the same terms as the Company’s prior coverage program for a one-year period, and has deposited security for such obligations. The Company will pay a fee of $2.5 million to Mr. Duggan that shall be due on May 13, 2021, the last day of the one-year period, in consideration of the obligations set forth in the Letter Agreement. The other members of the Board are third-party beneficiaries under the Agreement. As of March 31, 2021, the amount owed to Mr. Duggan under the Letter Agreement was $2.2 million, recorded in the balance sheet under Accrued Liabilities.

On March 11, 2021, the Company and Robert W. Duggan entered into a Loan Agreement in connection with Mr. Duggan lending the principal sum of $41.0 million to the Company. See Note 8 for details of the Loan Agreement.

Fair Value Of Financial Instruments (Fair Value Of Financial Assets Measured On A Recurring Basis) (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
ASSETS
Total assets measured at fair value	$ 56,694	$ 17,192
Cash And Cash Equivalents [Member] \| Money Market Funds [Member]
ASSETS
Total cash and cash equivalents	56,694	7,176
Cash And Cash Equivalents [Member] \| U.S. Treasury Securities [Member]
ASSETS
Total cash and cash equivalents		2,004
Investments [Member] \| U.S. Treasury Securities [Member]
ASSETS
Total investments		8,012
Level 1 [Member]
ASSETS
Total assets measured at fair value	56,694	7,176
Level 1 [Member] \| Cash And Cash Equivalents [Member] \| Money Market Funds [Member]
ASSETS
Total cash and cash equivalents	$ 56,694	7,176
Level 2 [Member]
ASSETS
Total assets measured at fair value		10,016
Level 2 [Member] \| Cash And Cash Equivalents [Member] \| U.S. Treasury Securities [Member]
ASSETS
Total cash and cash equivalents		2,004
Level 2 [Member] \| Investments [Member] \| U.S. Treasury Securities [Member]
ASSETS
Total investments		$ 8,012

Fair Value Of Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2021

Fair Value Of Financial Instruments [Abstract]

Fair Value Of Financial Assets Measured On A Recurring Basis


		March 31, 2021								December 31, 2020
Assets	Classification		Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Money market funds	Cash and cash equivalents	$	56,694	$	—	$	—	$	56,694	$	7,176	$	—	$	—	$	7,176
U.S. Treasury Securities	Cash and cash equivalents		—		—		—		—		—		2,004		—		2,004
U.S. Treasury Securities	Investments		—		—		—		—		—		8,012		—		8,012
Total assets measured at fair value		$	56,694	$	-	$	—	$	56,694	$	7,176	$	10,016	$	—	$	17,192

Fair Value Of Financial Instruments (Narrative) (Details) - USD ($)	Mar. 31, 2021	Dec. 31, 2020
Fair Value Of Financial Instruments [Abstract]
Liabilities measured at fair value	$ 0	$ 0
Transfers between level 1, 2, or 3	$ 0

Condensed Consolidated Statements Of Operations And Comprehensive Loss - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Operating expenses:
Research and development	$ 9,063	$ 6,181
Sales and marketing	4,146	1,695
General and administrative	5,316	4,074
Total operating expenses	18,525	11,950
Other income (expense):
Interest income, net		78
Interest (expense), net	(114)
Total other income (expense)	(114)	78
Net loss	(18,639)	(11,872)
Other comprehensive loss:
Unrealized gain (loss) on available-for-sale securities	1	13
Comprehensive loss	$ (18,638)	$ (11,859)
Net loss per share:
Basic and diluted net loss per share	$ (0.71)	$ (0.57)
Weighted average shares used to compute net loss per common share - basic and diluted	26,072	20,838

Description Of The Business

3 Months Ended

Mar. 31, 2021

Description Of The Business [Abstract]

Description Of The Business

1. Description of the Business

Pulse Biosciences, Inc. (together with its subsidiaries, the Company) is a novel bioelectric medicine company committed to health innovation that has the potential to improve the lives of patients. The CellFX® System (CellFX) is the first commercial product to harness the distinctive advantages of the Company’s proprietary Nano-Pulse Stimulation™ (NPS) technology. The CellFX System delivers nano second duration pulses of electrical energy to non-thermally clear targeted cells while sparing adjacent non-cellular tissue, to treat a variety of applications for which an optimal solution remains unfulfilled.

In February 2021, the Company received 510(k) clearance from the United States (U.S.) Food and Drug Administration (FDA) for the CellFX System with initial clearance for a general dermatologic indication. Additionally, in January 2021, the Company received Conformité Européene (CE) marking approval for the CellFX System, which allows for marketing of the system in the European Union (EU) for treatment of general dermatologic conditions, including Sebaceous Hyperplasia (SH), Seborrheic Keratosis (SK), and cutaneous non-genital warts. The Company has commenced a controlled launch in both the U.S. and the EU with key opinion leaders (KOL) in dermatology (Note 9).

The Company was incorporated in Nevada on May 19, 2014. On June 18, 2018, the Company reincorporated from the State of Nevada to the State of Delaware. The Company’s headquarters and manufacturing and research facility is located in Hayward, California.

The Company’s activities are subject to significant risks and uncertainties, including the need for additional capital. The Company has not yet commenced any revenue-generating operations, does not have any cash flows from operations, and will need to raise additional capital to finance its operations. However, there can be no assurances that the Company will be able to obtain additional financing on acceptable terms and in the amounts necessary to fully fund its operating requirements.

Pulse Biosciences, CellFX, CellFX CloudConnect, CellFX Marketplace, Nano-Pulse Stimulation, NPS, and the stylized logos are among the trademarks and/or registered trademarks of Pulse Biosciences, Inc. in the U.S. and other countries.

Commitments And Contingencies (Narrative) (Details)	3 Months Ended
Commitments And Contingencies (Narrative) (Details)	Mar. 31, 2021 USD ($)	Mar. 31, 2020 USD ($)	Mar. 11, 2021 USD ($)	May 31, 2019 ft²	Jan. 31, 2017 ft²
Commitments and Contingencies [Line Items]
Rent expense, including common area maintenance charges \| $	$ 500,000	$ 200,000
Hayward, CA [Member]
Commitments and Contingencies [Line Items]
Lease term					5 years
Area Of Lease \| ft²					15,700
Lease Amendment [Member]
Commitments and Contingencies [Line Items]
Area Of Lease \| ft²				13,300
Expansion Premises [Member]
Commitments and Contingencies [Line Items]
Area Of Lease \| ft²				21,300
Loan Agreement [Member] \| Robert W. Duggan [Member]
Commitments and Contingencies [Line Items]
Principal sum \| $			$ 41,000,000.0
Debt instrument, quarterly interest rate			5.00%
Debt instrument, interest rate upon default			7.00%
Debt instrument, late penalty fee, percent			2.00%
Accrued interest \| $	$ 100,000

Stockholders' Equity And Stock-Based Compensation

3 Months Ended

Mar. 31, 2021

Stockholders' Equity And Stock-Based Compensation [Abstract]

Stockholders' Equity And Stock-Based Compensation

6. Stockholders’ Equity and Stock-Based Compensation

At-the-Market Equity Offering

On February 4, 2021, the Company entered into a sales agreement (Sales Agreement) with Stifel, Nicolaus & Company, Inc. (Stifel) as sales agent, pursuant to which the Company may offer and sell, from time to time, through Stifel, up to $60.0 million in shares of common stock, by any method permitted by law deemed to be an “at-the-market” offering as defined in Rule 415 promulgated under the Securities Act of 1933, as amended. The Company has no obligation to make any sales of its common stock pursuant to such Sales Agreement. During the three-month period ended March 31, 2021, the Company issued and sold 157,742 shares of common stock under the Sales Agreement. The shares were sold at a weighted average price of $34.29 per share for aggregate net proceeds of approximately $5.0 million, after deducting sales commissions and offering costs payable by the Company. At March 31, 2021, the Company had received $4.9 million of the net proceeds, which are included in cash and cash equivalents on the balance sheet, and has recorded $0.1 million as other receivable due to timing of receipt of funds.

Rights Offering

During June 2020, the Company completed a rights offering to purchase up to $30 million of units, each unit consisting of one share of the Company’s common stock, par value $0.001 per share, and 0.15 warrants to purchase shares of common stock (the Units) at a price of $7.01 per Unit (the Rights Offering). The common stock and warrants comprising the Units separated upon the closing of the Rights Offering and were issued separately.

A total of 4,279,600 shares of common stock and 641,571 warrants (Rights Offering Warrants) were issued and sold in the Rights Offering for net proceeds of approximately $29.4 million. Each warrant was exercisable for one share of the Company’s common stock at an exercise price equal to $7.01, the subscription price for the Units. The Rights Offering Warrants were exercisable immediately and expired on the fifth anniversary of the completion of the Rights Offering, or June 16, 2025, subject to certain redemption rights by the Company. The Rights Offering Warrants were subject to redemption by the Company, on or after December 16, 2020, six months after the issue date, for $0.01 per warrant, with not less than 30 days written notice, if the volume weighted average price of our common stock equaled or exceeded 200% of the exercise price for the Rights Offering Warrants for 10 consecutive trading days.

Robert W. Duggan, principal stockholder and Chairman of the board of directors, who was the beneficial owner of approximately 43% of the Company’s outstanding common stock prior to the Rights Offering, participated in the Rights Offering and purchased an aggregate of 2,561,873 Units. After giving effect to the Rights Offering, including exercise of the Rights Offering Warrants, Mr. Duggan is the beneficial owner of approximately 47% of the Company’s outstanding common stock as of March 31, 2021.

Common Stock Warrants

In connection with a private placement in 2014 of the Company’s common stock, par value $0.001 per share, the Company issued warrants as compensation to the placement agent to purchase a total of 299,625 shares of its common stock at an exercise price of $2.67 per share (Private Placement Warrants). The Private Placement Warrants are exercisable for period of seven years from issuance. In March 2021, warrants to purchase 45,638 shares of common stock were net exercised, resulting in the issuance of 40,563 shares of common stock. As of March 31, 2021, there were a total of 600 of Private Placement Warrants outstanding.

In connection with the closing of the Company’s initial public offering in 2016, the Company issued warrants as compensation to its underwriters, to purchase a total of 574,985 shares of its common stock at an exercise price of $5.00 per share (IPO Warrants). The IPO Warrants were exercisable for a period of five years from issuance. In March 2021, warrants to purchase 85,385 shares of common stock were net exercised, resulting in the issuance of 68,958 shares of common stock. As of March 31, 2021, there were no IPO Warrants outstanding.

In connection with the Rights Offering, the Company issued warrants to purchase a total of 641,571 shares of its common stock at an exercise price of $7.01. On December 31, 2020 the Company met the requirements for redemption of these warrants and delivered a notice of redemption to redeem all of the outstanding warrants that remained unexercised at February 5, 2021, for the redemption price of $0.01 per warrant. Pursuant to the redemption, the Company redeemed 5,139 warrants. Prior to the February 5, 2021 redemption date, 636,432 warrants were exercised, generating approximately $4.5 million of total gross proceeds to the Company. As of March 31, 2021, there were no Rights Offering Warrants outstanding.

Equity Plans

2017 Equity Incentive Plan and 2017 Inducement Equity Incentive Plan

The Board of Directors of the Company (Board) previously adopted, and the Company’s stockholders approved, the Company’s 2017 Equity Incentive Plan (2017 Plan).

The 2017 Plan has a 10-year term, and provides for the grant of stock options, stock appreciation rights, restricted stock, restricted stock units, performance units, and performance shares to employees, directors and consultants of the Company and any parent or subsidiary of the Company, as the Compensation Committee of the Board may determine. Subject to an annual evergreen increase and adjustment in the case of certain capitalization events, the Company initially reserved 1,500,000 shares of the Company’s common stock for issuance pursuant to awards under the 2017 Plan. In addition, shares remaining available under the Company’s 2015 Equity Incentive Plan, as amended (2015 Plan), and shares reserved but not issued pursuant to outstanding equity awards that expire or terminate without being exercised or that are forfeited or repurchased by the Company will be added to the shares of common stock available for issuance under the 2017 Plan. The 2017 Plan is administered by the Board’s Compensation Committee. Effective January 1, 2021, the Company’s Board authorized an increase in the number of shares of common stock available under the 2017 Plan by 1,022,002 shares pursuant to the evergreen provision of the 2017 Plan. Pursuant to the 2017 Plan, the 2021 share increase is determined based on the least of (i) 1,200,000 shares, (ii) 4% of the Company’s common stock outstanding at December 31 of the immediately preceding year, or (iii) such number of shares as determined by the Board. As of March 31, 2021, 998,290 shares of common stock remained available for issuance under the 2017 Plan.

During November 2017, the Board adopted the 2017 Inducement Equity Incentive Plan (Inducement Plan) and reserved 1,000,000 shares of the Company’s common stock for issuance pursuant to equity awards granted under the Inducement Plan. The Inducement Plan was adopted without stockholder approval. The Inducement Plan has a 10-year term, and provides for the grant of equity-based awards, including nonstatutory stock options, restricted stock units, restricted stock, stock appreciation rights, performance shares and performance units, and its terms are substantially similar to the 2017 Plan, including with respect to treatment of equity awards in the event of a “merger” or “change in control” as defined under the Inducement Plan. Options issued under the Inducement Plan may have a term up to ten years and have variable vesting provisions. New hire grants generally vest 25% annual starting upon the first anniversary of the grant. Equity-based awards issued under the Inducement Plan are only issuable to individuals not previously engaged as employees or non-employee directors of the Company prior to the Inducement Plan’s adoption date. As of March 31, 2021, 23,346 shares of common stock remained available for issuance under the Inducement Plan.

Certain stock options awarded to the Company’s executives and other key employees contain performance conditions related to certain financial measures and achievements of strategic/operational milestones (performance options). As of March 31, 2021, not all of the performance conditions are probable to be achieved. Compensation expense has only been recognized for those conditions that are assumed to be probable.

During February 2021, Management and the Compensation Committee approved of a modification to certain vesting conditions of outstanding performance options. The Company had not recognized any compensation expense in relation to these performance options as the performance condition was previously deemed to be improbable. However, upon modification those specific performance conditions are now deemed probable and fully vested. As such, during the three-month period ended March 31, 2021, the full expense in relation to the amended performance conditions was recognized resulting in $4.2 million of additional stock-compensation expense.

2017 Employee Stock Purchase Plan

The Board previously adopted and the stockholders approved the Company’s 2017 Employee Stock Purchase Plan (2017 ESPP).

The 2017 ESPP is a broad-based plan that provides employees of the Company and its designated affiliates with the opportunity to become stockholders through periodic payroll deductions that are applied towards the purchase of Company common shares at a discount from the then-current market price. Subject to adjustment in the case of certain capitalization events, a total of 250,000 common shares of the Company were available for purchase at adoption of the 2017 ESPP. Pursuant to the 2017 ESPP, the annual share increase pursuant to the evergreen provision is determined based on the least of (i) 450,000 shares, (ii) 1.5% of the Company’s common stock outstanding at December 31 of the immediately preceding year, or (iii) such number of shares as determined by the Board. Effective January 1, 2021, pursuant to the evergreen provision of the 2017 ESPP, the number of shares of common stock available under the 2017 ESPP was increased by 383,250 shares. During the three-month period ended March 31, 2021, the Company issued 68,057 shares of common stock under the 2017 ESPP. As of March 31, 2021, 672,417 shares of common stock remained available for issuance under the 2017 ESPP.

A summary of stock option activity under the 2015 Plan, 2017 Plan and Inducement Plan for the three-months ended March 31, 2021 is presented below:



	Stock Options Outstanding
			Weighted
	Number		average
	of shares		exercise price
Balances — December 31, 2020	5,039,194	$	14.26
Options granted	608,815
Options exercised	(39,981)
Options canceled	(68,654)
Options expired	(62,738)
Balances — March 31, 2021	5,476,636	$	15.47
Exercisable — March 31, 2021	2,905,929	$	16.13

Stock-based Compensation

Total stock-based compensation expense consisted of the following (in thousands):



	Three-Month Periods Ended
	March 31,
	2021		2020
Research and development	$	3,166	$	877
Sales and marketing		1,761		310
General and administrative		2,038		1,439
Total stock-based compensation expense	$	6,965	$	2,626

The Company estimated the fair value of employee stock options on the grant date using the Black-Scholes option pricing model. The estimated fair value of employee stock options is amortized on a straight-line basis over the requisite service period of the awards. The Company reviews, and when deemed appropriate, updates the assumptions used on a periodic basis. Due to the limited trading history of the Company’s common stock, the Company utilizes a portfolio of comparable companies to estimate volatility. The fair value of employee stock options was estimated using the following weighted-average assumptions:



	Three-Month Periods Ended March 31,
	2021	2020
Expected term in years	6.1	6.1
Expected volatility	78%	70%
Risk-free interest rate	1.0 - 1.1%	0.4 - 1.7%
Dividend yield	—	—

The Company estimated the fair value of ESPP on the grant date using the Black-Scholes option pricing model. The estimated fair value of ESPP is amortized on a straight-line basis over the requisite service period of the awards. The Company reviews, and when deemed appropriate, updates the assumptions used on a periodic basis. The Company utilizes its estimated volatility in the Black-Scholes option pricing model to determine the fair value of ESPP. The fair value of ESPP was estimated using the following weighted-average assumptions:



	Three-Month Periods Ended March 31,
	2021	2020
Expected term in years	0.5 - 1.0	0.5 - 1.0
Expected volatility	91%	70%
Risk-free interest rate	0.07 - 0.08%	0.9 - 1.0%
Dividend yield	—	—

Summary Of Significant Accounting Policies

3 Months Ended

Mar. 31, 2021

Summary Of Significant Accounting Policies [Abstract]

Summary Of Significant Accounting Policies

2. Summary of Significant Accounting Policies

COVID-19 Pandemic

Basis of Presentation

Principles of Consolidation

Use of Estimates

Significant Accounting Policies

Valuation of Inventory

Net Loss per Share

Basic and diluted net loss per common share is the same for all periods presented because all warrants, stock options and restricted stock units outstanding are anti-dilutive.



	Three-Month Periods Ended
	March 31,
	2021		2020
Common stock warrants		600		167,847
Common stock options		5,476,636		3,891,607
Restricted stock units		111,305		222,606
Total		5,588,541		4,282,060

Recent Accounting Pronouncement

Controlled Launch

3 Months Ended

Mar. 31, 2021

Controlled Launch [Abstract]

Controlled Launch

9. Controlled Launch

In February 2021, the Company received 510(k) clearance from the U.S. FDA for the CellFX System with initial clearance for a general dermatologic indication. Additionally, in January 2021, the Company received CE marking approval for the CellFX System, which allows for marketing of the system in the EU for treatment of general dermatologic conditions, including SH, SK, and cutaneous non-genital warts. Having obtained FDA clearance and CE marking approval, in February 2021 the Company commenced a controlled launch of the CellFX System in both the U.S. and the EU via their CellFX Expectations Excelled Program (Program).

The Company selected a total of 75 KOLs in dermatology across the U.S. and the EU to be the first physicians (consultants) to launch the CellFX System and the associated CellFX commercial procedures into their respective markets and geographies. The Company executes consulting agreements to retain these KOLs to participate in the Program. According to the Program plan, the Company provides and sets-up the CellFX System at each consultant’s site and provides the consultant with the necessary related products and components, free of charge, to complete the requirements of the Program. The CellFX System and any un-used component products remain the property of the Company throughout the Program. The consultant identifies and recruits up to 40 patients for participation in the Program, performing the CellFX procedure on each of the appropriately selected patients. Following the procedure, both the consultant and the patient complete evaluation surveys. Upon completion of the procedure and both surveys, the consultant will earn a credit which can be used towards the future purchase of the CellFX System. Credits earned are limited to a maximum of 40 patients. Upon completion of all 40 patients, the consultant may choose to either enter into a purchase agreement with the Company, where they use the credits earned towards purchase of the CellFX System, or they shall return the CellFX System to the Company.

As the consultant completes patient treatments and both the consultant and patient complete their surveys, the Company will accrue for the value of the credit, which is recorded in accrued expenses, with a corresponding charge to marketing expense. During the three-month period ended March 31, 2021, the Company recorded $0.1 million of sales and marketing expense in relation to the Program.

Fair Value Of Financial Instruments

3 Months Ended

Mar. 31, 2021

Fair Value Of Financial Instruments [Abstract]

Fair Value Of Financial Instruments

3. Fair Value of Financial Instruments

The authoritative guidance with respect to fair value established a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value into three levels, and requires that assets and liabilities carried at fair value be classified and disclosed in one of three categories, as presented below.

Level 1 - Observable inputs such as quoted prices in active markets for an identical asset or liability that the Company has the ability to access as of the measurement date. Financial assets and liabilities utilizing Level 1 inputs include money market funds.

Level 2 - Inputs, other than quoted prices included within Level 1, which are directly observable for the asset or liability or indirectly observable through corroboration with observable market data. Financial assets and liabilities utilizing Level 2 inputs include commercial paper, corporate bonds, U.S. Treasury Securities, and asset-backed securities.

Level 3 - Unobservable inputs for which there is little or no market data for the asset or liability which requires the reporting entity to develop its own assumptions. The Company did not classify any of its investments within Level 3 of the fair value hierarchy.

The following table sets forth the fair value of the Company’s financial assets measured on a recurring basis as of March 31, 2021 and December 31, 2020, respectively (in thousands):


		March 31, 2021								December 31, 2020
Assets	Classification		Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Money market funds	Cash and cash equivalents	$	56,694	$	—	$	—	$	56,694	$	7,176	$	—	$	—	$	7,176
U.S. Treasury Securities	Cash and cash equivalents		—		—		—		—		—		2,004		—		2,004
U.S. Treasury Securities	Investments		—		—		—		—		—		8,012		—		8,012
Total assets measured at fair value		$	56,694	$	-	$	—	$	56,694	$	7,176	$	10,016	$	—	$	17,192

The Company did not have any financial liabilities measured on a recurring basis as of March 31, 2021 or December 31, 2020.

During the three-month period ended March 31, 2021, there were no transfers between Level 1, Level 2 or Level 3 assets or liabilities reported at fair value on a recurring basis and the valuation techniques used did not change compared to the Company’s established practice.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Research Grants And Agreements (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Research and development expense	$ 9,063	$ 6,181
Sponsored Research Agreement ("SRA") [Member]
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Research and development expense	$ 0	200
ODURF [Member]
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Period of time for Sponsored Research Agreement ("SRA")	12 months
ODURF [Member] \| Sponsored Research Agreement ("SRA") [Member]
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Research and development expense		$ 300

Condensed Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands	Common Stock	Additional Paid-in Capital [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Accumulated Deficit [Member]	Total
Balance at Dec. 31, 2019	$ 21	$ 153,401	$ 4	$ (122,689)	$ 30,737
Balance, shares at Dec. 31, 2019	20,825,000
Issuance of shares upon exercise of stock options		9			9
Issuance of shares upon exercise of stock options, shares	1,000
Issuance of shares under employee stock purchase plan		255			255
Issuance of shares under employee stock purchase plan, shares	43,000
Stock-based compensation expense		2,626			2,626
Unrealized gain (loss) on available-for-sale securities			13		13
Net loss				(11,872)	(11,872)
Balance at Mar. 31, 2020	$ 21	156,291	17	(134,561)	21,768
Balance, shares at Mar. 31, 2020	20,869,000
Balance at Dec. 31, 2020	$ 25	195,410	(1)	(172,540)	$ 22,894
Balance, shares at Dec. 31, 2020	25,550,000				25,550,000
Issuance of shares upon exercise of stock options		449			$ 449
Issuance of shares upon exercise of stock options, shares	40,000				39,981
Issuance of shares under employee stock purchase plan		430			$ 430
Issuance of shares under employee stock purchase plan, shares	68,000
Issuance of shares upon exercise of warrants	$ 1	3,333			3,334
Issuance of shares upon exercise of warrants, shares	585,000
Issuance of common stock in an at-the-market equity offering		4,963			4,963
Issuance of common stock in an at-the-market equity offering, shares	158,000
Stock-based compensation expense		6,965			6,965
Unrealized gain (loss) on available-for-sale securities			$ 1		1
Net loss				(18,639)	(18,639)
Balance at Mar. 31, 2021	$ 26	$ 211,550		$ (191,179)	$ 20,397
Balance, shares at Mar. 31, 2021	26,401,000				26,401,000

Balance Sheet Components (Schedule Of Property And Equipment, Net) (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 4,459	$ 4,394
Less: Accumulated depreciation	(2,029)	(1,916)
Property and equipment, net	2,430	2,478
Leasehold Improvements [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	2,827	2,805
Laboratory Equipment [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	912	878
Furniture, Fixtures, And Equipment [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	562	517
Software [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	128	128
Construction In Progress [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 30	$ 66

Summary Of Significant Accounting Policies (Anti-Dilutive Shares Excluded From Computation Of Diluted Net Loss Per Share) (Details) - shares	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total	5,588,541	4,282,060
Warrants [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total	600	167,847
Employee Stock Option [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total	5,476,636	3,891,607
Restricted Stock Units [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total	111,305	222,606

Controlled Launch (Narrative) (Details) $ in Millions	3 Months Ended
Controlled Launch (Narrative) (Details) $ in Millions	Mar. 31, 2021 USD ($) item
Controlled Launch [Abstract]
Number of KOLs	75
Number of patients participating in procedure	40
Program expenses \| $	$ 0.1

Related Party Transactions (Narrative) (Details) $ / shares in Units, $ in Millions	1 Months Ended		3 Months Ended
	Feb. 04, 2021 USD ($)	Jun. 30, 2020 USD ($) $ / shares shares	Mar. 31, 2021 USD ($) $ / shares shares	Mar. 31, 2020 USD ($)	Mar. 11, 2021 USD ($)	Dec. 31, 2020 $ / shares shares	Dec. 31, 2016 shares
Related Party Transaction [Line Items]
Common stock, shares issued \| shares			26,401,000			25,550,000
Common stock, par value \| $ / shares			$ 0.001			$ 0.001
Coverage period			1 year
Chairman, Robert W. Duggan [Member] \| Rights Offering [Member]
Related Party Transaction [Line Items]
Ownership percentage			47.00%			43.00%
MDB Capital Group, LLC [Member] \| Initial Public Offering [Member]
Related Party Transaction [Line Items]
Warrants/rights outstanding \| shares			0
Number of common shares called by issuance of warrants \| shares							574,985
Robert W. Duggan [Member]
Related Party Transaction [Line Items]
Due to related parties			$ 2.5		$ 41.0
Robert W. Duggan [Member] \| Rights Offering [Member]
Related Party Transaction [Line Items]
Number of common shares called by issuance of warrants \| shares		2,561,873
Ownership percentage		43.00%	47.00%
Wilson Sonsini Goodrich And Rosati (WSGR) [Member]
Related Party Transaction [Line Items]
Related party expenses			$ 0.2
Legal Expenses [Member] \| Wilson Sonsini Goodrich And Rosati (WSGR) [Member]
Related Party Transaction [Line Items]
Related party expenses				$ 0.1
Related party expenses			0.2
Letter Agreement [Member] \| Robert W. Duggan [Member]
Related Party Transaction [Line Items]
Due to related parties			$ 2.2
Rights Offering [Member]
Related Party Transaction [Line Items]
Warrants/rights outstanding \| shares		641,571	0
Exercise price of warrants/rights \| $ / shares		$ 7.01
Number of common shares called by issuance of warrants \| shares		4,279,600
Value of warrants/rights		$ 30.0
Net proceeds	$ 4.5	$ 29.4
Rights Offering [Member] \| Rights Offering [Member]
Related Party Transaction [Line Items]
Common stock, par value \| $ / shares		$ 0.001
Number of warrants to purchase shares of common stock		0.15
Rights Offering [Member] \| Legal Expenses [Member]
Related Party Transaction [Line Items]
Related party expenses		$ 0.4
Rights Offering [Member] \| Common Stock
Related Party Transaction [Line Items]
Warrants/rights outstanding \| shares			641,571

Summary Of Significant Accounting Policies (Tables)

3 Months Ended

Mar. 31, 2021

Summary Of Significant Accounting Policies [Abstract]

Anti-Dilutive Shares Excluded From Computation Of Diluted Net Loss Per Share



	Three-Month Periods Ended
	March 31,
	2021		2020
Common stock warrants		600		167,847
Common stock options		5,476,636		3,891,607
Restricted stock units		111,305		222,606
Total		5,588,541		4,282,060

Goodwill (Narrative) (Details) - USD ($)	3 Months Ended	12 Months Ended
Goodwill (Narrative) (Details) - USD ($)	Mar. 31, 2021	Dec. 31, 2020	Dec. 31, 2014
Business Acquisition, Equity Interests Issued or Issuable [Line Items]
Goodwill	$ 2,791,000	$ 2,791,000	$ 2,800,000
Goodwill impairment	$ 0	$ 0
TPI, BEM And NB [Member]
Business Acquisition, Equity Interests Issued or Issuable [Line Items]
Aggregate consideration			$ 5,500,000

Stockholders' Equity And Stock-Based Compensation (Schedule Of Stock-Based Compensation Expense) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total stock-based compensation expense	$ 6,965	$ 2,626
Research And Development [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total stock-based compensation expense	3,166	877
Sales And Marketing [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total stock-based compensation expense	1,761	310
General And Administrative [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total stock-based compensation expense	$ 2,038	$ 1,439