Pulse Biosciences Appoints New CFO Amid Ongoing Leadership Changes and PFA Technology Development

Pulse Biosciences, a developer of pulsed field ablation (PFA) devices, has appointed Jon Skinner as its new Chief Financial Officer, continuing a series of recent C-suite changes at the company. This appointment comes as Pulse Biosciences advances its innovative nanosecond PFA technology, aiming to challenge established players in the fast-growing electrophysiology market.

Leadership Transitions and Strategic Positioning

Skinner's appointment follows a period of significant leadership changes at Pulse Biosciences. In January, the company named Paul LaViolette as CEO, filling a vacancy created when Burke Barrett resigned nearly seven months after joining the company. These changes are part of Pulse's efforts to strengthen its executive team as it prepares for pivotal clinical trials and potential commercialization of its PFA technology.

Skinner brings experience from roles at Copeland, Imperative Care, and Teleflex, including a stint as interim CFO of Kandu Health during its spin-out and fundraising process. While lacking experience as CFO of a publicly traded company, Pulse highlighted Skinner's involvement in M&A, strategy, partnerships, and sales operations at Imperative Care.

Advancing Nanosecond PFA Technology

Pulse Biosciences is developing PFA technology that delivers electrical pulses lasting a nanosecond, compared to a microsecond for existing technologies. The company is positioning this innovation as a way to shorten ablation time, eliminate the need for device rotations, and improve upon fast-growing PFA products from competitors such as Boston Scientific and Medtronic.

The company sees opportunities to challenge PFA incumbents in the electrophysiology market and expand into new areas, including benign thyroid nodule procedures and surgical cardiac ablation. Pulse plans to initiate pivotal clinical trials in all three settings this year, marking a significant step in its development strategy.

Financial Outlook and Market Response

As of the end of 2024, Pulse Biosciences reported $118 million in cash and cash equivalents. The company anticipates increased spending in the coming year to support commercialization efforts and multiple pivotal trials. Current projections suggest this funding will sustain operations for approximately two years.

The appointment of Skinner as CFO was well-received by investors, with Pulse's share price rising nearly 15% to over $23 following the announcement. This positive market response reflects growing investor confidence in the potential of PFA technology, buoyed by successful launches from industry leaders Boston Scientific and Medtronic. Boston Scientific has predicted that by 2026, more than 60% of atrial fibrillation procedures globally will utilize PFA technology, underscoring the significant market opportunity Pulse Biosciences is pursuing.