Pulse Biosciences (PLSE) 10-Q 9 Nov 20 2020 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
	Sep. 30, 2020	Nov. 02, 2020
Document And Entity Information [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2020
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	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		25,341,540
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q3
Entity Central Index Key	0001625101
Amendment Flag	false

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Current assets:
Cash and cash equivalents	$ 7,070	$ 6,899
Investments	22,516	18,499
Prepaid expenses and other current assets	748	1,005
Total current assets	30,334	26,403
Property and equipment, net	2,562	2,566
Intangible assets, net	4,048	4,547
Goodwill	2,791	2,791
Right-of-use assets	9,595	5,114
Other assets	365	494
Total assets	49,695	41,915
Current liabilities:
Accounts payable	1,432	1,963
Accrued expenses	4,111	2,496
Lease liability, current	457
Total current liabilities	6,000	4,459
Lease liability, less current	10,991	6,719
Total liabilities	16,991	11,178
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 – 25,290 shares and 20,825 shares at September 30, 2020 and December 31, 2019, respectively	25	21
Additional paid-in-capital	191,468	153,401
Accumulated other comprehensive income	1	4
Accumulated deficit	(158,790)	(122,689)
Total stockholders' equity	32,704	30,737
Total liabilities and stockholders' equity	$ 49,695	$ 41,915

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Sep. 30, 2020	Dec. 31, 2019
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	25,290,000	20,825,000
Common stock, shares outstanding	25,290,000	20,825,000

Condensed Consolidated Statemen

Condensed Consolidated Statements Of Operations And Comprehensive Loss - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Operating expenses:
General and administrative	$ 5,771	$ 5,606	$ 16,691	$ 15,153
Research and development	6,968	6,192	19,019	18,371
Amortization of intangible assets	166	166	499	500
Total operating expenses	12,905	11,964	36,209	34,024
Other income:
Interest income	9	218	108	841
Total other income	9	218	108	841
Net loss	(12,896)	(11,746)	(36,101)	(33,183)
Other comprehensive loss:
Unrealized gain (loss) on available-for-sale securities	1	(14)	(3)	9
Comprehensive loss	$ (12,895)	$ (11,760)	$ (36,104)	$ (33,174)
Net loss per share:
Basic and diluted net loss per share	$ (0.51)	$ (0.57)	$ (1.60)	$ (1.60)
Weighted average shares used to compute net loss per common share - basic and diluted	25,223	20,774	22,540	20,728

Condensed Consolidated Statem_2

Condensed Consolidated Statements Of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Cash flows from operating activities:
Net loss	$ (36,101)	$ (33,183)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation	310	390
Amortization of intangible assets	499	500
Stock-based compensation	7,686	7,739
Net premium amortization and discount on available-for-sale securities	(6)	(458)
Loss on disposal of fixed assets	119
Gain U.S. Treasury securities	(8)
Changes in operating assets and liabilities:
Prepaid expenses and other current assets	431	(658)
Right-of-use assets	352
Other long-term assets	129
Accounts payable	(595)	544
Accrued expenses	1,352	633
Lease liabilities	(104)
Other assets	(174)	(2,734)
Other current and non-current liabilities		2,238
Net cash used in operating activities	(26,110)	(24,989)
Cash flows from investing activities:
Purchases of property and equipment	(162)	(645)
Purchases of investments	(25,516)	(72,981)
Maturities of investments	4,510	57,000
Sales of investments	17,000
Net cash used in investing activities	(4,168)	(16,626)
Cash flows from financing activities:
Proceeds from issuance of common stock under employee stock purchase plan	490	423
Proceeds from exercises of warrants	112
Proceeds from exercises of stock options	349	272
Proceeds from the issuance of common stock, net of issuance cost of $565	29,498
Tax payments related to shares withheld for vested restricted stock units		(613)
Net cash provided by financing activities	30,449	82
Net increase (decrease) in cash	171	(41,533)
Cash and cash equivalents at beginning of period	6,899	51,103
Cash and cash equivalents at end of period	7,070	9,570
Supplemental disclosure of noncash investing and financing activities:
Change in unrealized gains on available-for-sale securities	(3)	9
Unpaid property and equipment included in accounts payable and accrued expenses	263	$ 219
Issuance costs for rights offering in accounts payable	$ 64

Condensed Consolidated Statem_3

Condensed Consolidated Statements Of Cash Flows (Parenthetical) $ in Thousands	9 Months Ended
	Sep. 30, 2020USD ($)
Condensed Consolidated Statements Of Cash Flows [Abstract]
Issuance costs	$ 565

Condensed Consolidated Statem_4

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, 2018	$ 21	$ 142,032	$ (1)	$ (75,718)	$ 66,334
Balance, shares at Dec. 31, 2018	20,593,000
Issuance of shares upon exercise of stock options		272			272
Issuance of shares upon exercise of stock options, shares	99,000
Issuance of shares under employee stock purchase plan		423			423
Issuance of shares under employee stock purchase plan, shares	38,000
Issuance of shares upon vesting of restriced stock units, shares	58,000
Stock-based compensation expense		7,739			7,739
Tax payments related to shares withheld for vested restricted stock units		(613)			(613)
Unrealized gain on available-for-sale securities			9		9
Net loss				(33,183)	(33,183)
Balance at Sep. 30, 2019	$ 21	149,853	8	(108,901)	40,981
Balance, shares at Sep. 30, 2019	20,788,000
Balance at Jun. 30, 2019	$ 21	146,973	22	(97,155)	49,861
Balance, shares at Jun. 30, 2019	20,768,000
Issuance of shares under employee stock purchase plan		201			201
Issuance of shares under employee stock purchase plan, shares	20,000
Stock-based compensation expense		2,679			2,679
Unrealized gain on available-for-sale securities			(14)		(14)
Net loss				(11,746)	(11,746)
Balance at Sep. 30, 2019	$ 21	149,853	8	(108,901)	40,981
Balance, shares at Sep. 30, 2019	20,788,000
Balance at Dec. 31, 2019	$ 21	153,401	4	(122,689)	$ 30,737
Balance, shares at Dec. 31, 2019	20,825,000				20,825,000
Issuance of shares upon exercise of stock options		349			$ 349
Issuance of shares upon exercise of stock options, shares	86,000				85,750
Issuance of shares under employee stock purchase plan		490			$ 490
Issuance of shares under employee stock purchase plan, shares	83,000
Issuance of shares upon exercise of warrants		112			112
Issuance of shares upon exercise of warrants, shares	16,000
Issuance of common stock and warrants in connection with rights offering, net of issuance cost of $565	$ 4	29,430			29,434
Issuance of common stock and warrants in connection with rights offering, net of issuance cost of $565, shares	4,280,000
Stock-based compensation expense		7,686			7,686
Unrealized gain on available-for-sale securities			(3)		(3)
Net loss				(36,101)	(36,101)
Balance at Sep. 30, 2020	$ 25	191,468	1	(158,790)	$ 32,704
Balance, shares at Sep. 30, 2020	25,290,000				25,290,000
Balance at Jun. 30, 2020	$ 25	188,197		(145,894)	$ 42,328
Balance, shares at Jun. 30, 2020	25,149,000
Issuance of shares upon exercise of stock options		340			340
Issuance of shares upon exercise of stock options, shares	85,000
Issuance of shares under employee stock purchase plan		235			235
Issuance of shares under employee stock purchase plan, shares	40,000
Issuance of shares upon exercise of warrants		112			112
Issuance of shares upon exercise of warrants, shares	16,000
Stock-based compensation expense		2,648			2,648
Rights offering, additional issuance costs		(64)			(64)
Unrealized gain on available-for-sale securities			1		1
Net loss				(12,896)	(12,896)
Balance at Sep. 30, 2020	$ 25	$ 191,468	$ 1	$ (158,790)	$ 32,704
Balance, shares at Sep. 30, 2020	25,290,000				25,290,000

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Stockholders' Equity (Parenthetical) $ in Thousands	9 Months Ended
	Sep. 30, 2020USD ($)
Condensed Consolidated Statement of Stockholders' Equity [Abstract]
Issuance costs	$ 565

Description Of The Business

Description Of The Business	9 Months Ended
	Sep. 30, 2020
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 improves and potentially extends the lives of patients. The Company is pursuing regulatory clearance to market its first product, its proprietary CellFX ® System. The Company’s CellFX System utilizes its patented Nano-Pulse Stimulation™ (NPS™) technology to treat a variety of applications for which an optimal solution remains unfulfilled. NPS is a proprietary technology that delivers nano-second duration pulses of high amplitude electrical energy to non-thermally clear targeted cells while sparing adjacent non-cellular tissue. The cell-specific effects of NPS technology have been validated in a series of completed and ongoing clinical studies. 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, Nano-Pulse Stimulation, and NPS and the stylized logos are trademarks or registered trademarks of the Company in the United States and other countries.

Summary Of Significant Accounti

Summary Of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2020
Summary Of Significant Accounting Policies [Abstract]
Summary Of Significant Accounting Policies	2. Summary of Significant Accounting Policies Going Concern  As of September 30, 2020, the Company had an accumulated deficit of $ 158.8 million, cash outflows from operations of $ 26.1 million for the nine months then ended, and cash, cash equivalents and investments of $ 29.6 million. The Company has not generated any revenue from product sales since its inception and anticipates that losses may continue for the next several years until such time as the Company can generate substantial product revenue and achieve profitability. To fund ongoing operating and capital needs, the Company will need to raise additional capital. The Company plans to raise additional capital to fund its operations, for at least the next twelve months from the date of issuance of the accompanying consolidated financial statements, through the issuance and sale of equity securities. There is no assurance that additional financing will be available when needed or that management of the Company will be able to obtain financing on terms acceptable to the Company. Accordingly, the Company’s management cannot conclude that such plans will be effectively implemented within twelve months from the date of issuance of the accompanying consolidated financial statements.  These factors, combined with the Company’s forecast of cash required to fund operations for a period of at least twelve months from the date of issuance of the accompanying consolidated financial statements, raise substantial doubt about the Company’s ability to continue as a going concern.  The accompanying consolidated financial statements have been prepared on a going concern basis, which contemplates the realization of assets and satisfaction of liabilities in the ordinary course of business. The consolidated financial statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts or the amounts and classification of liabilities that might result from the outcome of this uncertainty. 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 September 30, 2020. Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared on a basis consistent with the Company’s December 31, 2019 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, 2019 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, 2019. The results of operations for the three-month and nine-month periods ended September 30, 2020 are not necessarily indicative of the results to be expected for the entire year or any future periods. 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 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 There have been no material changes to the Company’s significant accounting policies during the nine-month period ended September 30, 2020, as compared to the significant accounting policies described in the Company’s Annual Report on Form 10-K for the year ended December 31, 2019. 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: Nine-Month Periods Ended September 30, 2020 2019 Common stock warrants 793,464 213,485 Common stock options 5,207,326 3,545,491 Restricted stock units 34,402 111,305 Total 6,035,192 3,870,281 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 is currently evaluating the impact that the standard will have on its financial statements and related disclosures; and does not expect the adoption to have a material impact on the Company’s financial statements.

Fair Value Of Financial Instrum

Fair Value Of Financial Instruments	9 Months Ended
	Sep. 30, 2020
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, 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 September 30, 2020 and December 31, 2019, respectively (in thousands): September 30, 2020 December 31, 2019 Assets Classification Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Money market funds Cash and cash equivalents $ 5,598 $ — $ — $ 5,598 $ 6,429 $ — $ — $ 6,429 U.S. Treasury Securities Investments — 22,516 — 22,516 — 18,499 — 18,499 Total assets measured at fair value $ 5,598 $ 22,516 $ — $ 28,114 $ 6,429 $ 18,499 $ — $ 24,928 The Company did no t have any financial liabilities measured on a recurring basis as of September 30, 2020 or December 31, 2019. During the nine-month period ended September 30, 2020, 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.

Balance Sheet Components

Balance Sheet Components	9 Months Ended
	Sep. 30, 2020
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): September 30, December 31, 2020 2019 Leasehold improvements $ 2,834 $ 2,248 Laboratory equipment 792 677 Furniture, fixtures, and equipment 481 466 Software 117 118 Construction in progress 134 543 4,358 4,052 Less: Accumulated depreciation ( 1,796 ) ( 1,486 ) $ 2,562 $ 2,566 Depreciation expense was $ 0.1 million for each of the three-month periods ended September 30, 2020 and 2019. Depreciation expense was $ 0.3 million for each of the nine-month periods ended September 30, 2020 and 2019. 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): September 30, December 31, 2020 2019 Acquired patents and licenses $ 7,985 $ 7,985 Less: Accumulated amortization ( 3,937 ) ( 3,438 ) $ 4,048 $ 4,547 A schedule of the amortization of intangible assets for the remainder of 2020 and the succeeding five fiscal years and thereafter is as follows (in thousands): Year Ending December 31: 2020 (remaining 3 months) $ 166 2021 665 2022 665 2023 665 2024 665 2025 665 Thereafter 557 $ 4,048 Accrued Expenses Accrued expenses consisted of the following (in thousands): September 30, December 31, 2020 2019 Compensation $ 2,276 $ 1,699 Accrued clinical 268 262 Professional fees 8 51 Property and equipment 262 234 Director and officer liability insurance 938 — Other 359 250 $ 4,111 $ 2,496

Goodwill

Goodwill	9 Months Ended
	Sep. 30, 2020
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, 2019 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 September 30, 2020.

Stockholders' Equity And Stock-

Stockholders' Equity And Stock-Based Compensation	9 Months Ended
	Sep. 30, 2020
Stockholders' Equity And Stock-Based Compensation [Abstract]
Stockholders' Equity And Stock-Based Compensation	6. Stockholders’ Equity and Stock-Based Compensation 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 (the Rights Offering Warrants) were issued and sold in the Rights Offering for net proceeds of approximately $ 29.4 million. Each warrant is 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 are exercisable immediately and expire on the fifth anniversary of the completion of the Rights Offering, or June 16, 2025. The Rights Offering Warrants are subject to redemption by the Company for $ 0.01 per warrant, with not less than 30 days written notice, if the volume weighted average price of our common stock equals or exceeds 200 % of the exercise price for the Rights Offering Warrants for 10 consecutive trading days, provided that the Company may not redeem the warrants prior to December 16, 2020, six months after the issuance date. 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, Mr. Duggan is the beneficial owner of approximately 47 % of the Company’s outstanding common stock as of September 30, 2020. 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 (the Private Placement Warrants). The Private Placement Warrants are exercisable for period of seven years from issuance. As of September 30, 2020, there were a total of 46,238 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 (the IPO Warrants). The IPO Warrants are exercisable for a period of five years from issuance. As of September 30, 2020, there were a total of 121,609 of the IPO Warrants outstanding. In connection with the Rights Offering , the Company issued warrants to purchase a total of 641,571 shares of it s common stock at an exercise price of $ 7.01 . As of September 30, 2020, there were a total of 625,617 of the Rights Offering Warrants outstanding . Equity Plans 2017 Equity Incentive Plan and 2017 Inducement Equity Incentive Plan The Board of Directors of the Company (the Board) previously adopted, and the Company’s stockholders approved, the Company’s 2017 Equity Incentive Plan (the 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 (the 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, 2020, the Company’s Board authorized an increase in the number of shares of common stock available under the 2017 Plan by 833,018 shares pursuant to the evergreen provision of the 2017 Plan. Pursuant to the 2017 Plan, the 2020 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 September 30, 2020, 371,958 shares of common stock remained available for issuance under the 2017 Plan. During November 2017, the Board adopted the 2017 Inducement Equity Incentive Plan (the 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 September 30, 2020, 26,283 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 September 30, 2020, 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. 2017 Employee Stock Purchase Plan The Board previously adopted and the stockholders approved the Company’s 2017 Employee Stock Purchase Plan (the 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. During January 2020, the Board determined not to increase the number of shares of common stock available under the 2017 ESPP pursuant to the evergreen provision of the 2017 ESPP. During the nine-month period ended September 30, 2020, the Company issued 82,971 shares of common stock under the 2017 ESPP. As of September 30, 2020, 357,224 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 nine-months ended September 30 , 2020 is presented below: Stock Options Outstanding Weighted Number average of shares exercise price Balances — December 31, 2019 3,749,186 $ 16.18 Options granted 1,933,560 Options exercised ( 85,750 ) Options canceled ( 324,584 ) Options expired ( 65,086 ) Balances — September 30, 2020 5,207,326 $ 14.30 Exercisable — September 30, 2020 2,519,812 $ 17.08 Stock-based Compensation Total stock-based compensation expense consisted of the following (in thousands): Three-Month Periods Ended Nine-Month Periods Ended September 30, September 30, 2020 2019 2020 2019 General and administrative $ 1,465 $ 1,735 $ 4,729 $ 4,881 Research and development 1,183 944 2,957 2,858 Total stock-based compensation expense $ 2,648 $ 2,679 $ 7,686 $ 7,739 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 September 30, Nine-Month Periods Ended September 30, 2020 2019 2020 2019 Expected term in years 5.8 - 6.1 5.8 - 6.1 5.3 - 6.1 0.4 - 6.1 Expected volatility 70 % 70 % 70 % 70 % Risk-free interest rate 0.3 - 0.4 % 1.4 - 1.7 % 0.4 - 0.5 % 1.4 - 2.6 % 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 September 30, Nine-Month Periods Ended September 30, 2020 2019 2020 2019 Expected term in years 0.5 - 1.0 0.5 - 1.0 0.5 - 1.0 0.5 - 1.0 Expected volatility 70 % 70 % 70 % 70 % Risk-free interest rate 0.1 - 0.1 % 1.7 - 1.9 % 0.1 - 1.0 % 1.7 - 2.6 % Dividend yield — — —

Research Grants And Agreements

Research Grants And Agreements	9 Months Ended
	Sep. 30, 2020
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. During the year ended December 31, 2019, the Company agreed to sponsor $ 0.8 million in research during the subsequent 12 -month period funded through monthly 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. As of September 30, 2020, the Company has incurred costs of the entire $ 0.8 million under this agreement. During the three-month periods ended September 30, 2020 and 2019, the Company incurred costs relating to the SRAs equal to $ 0.2 million and $ 0.1 million, respectively; and during both the nine-month periods ended September 30, 2020 and 2019 the Company incurred costs of $ 0.6 million.

Commitments And Contingencies

Commitments And Contingencies	9 Months Ended
	Sep. 30, 2020
Commitments And Contingencies [Abstract]
Commitments And Contingencies	8. Commitments and Contingencies Operating Leases During January 2017, the Company entered into a five-year lease (the Existing Lease) for approximately 15,700 square feet for its corporate headquarters located in Hayward, California (the Existing Premises). The lease commenced during July 2017. During May 2019, the Company entered into Lease Amendment 1 (the Amendment) in relation to the Existing Lease and added the lease of new premises of approximately 34,600 square feet (the Expansion Premises); additionally, the term of the Existing Lease was extended to October 2029. The Company evaluated the Amendment under the provisions of ASC 842 that it adopted on January 1, 2019, and accounted for the Amendment 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 and Expansion Premises are accounted for as separate lease components. Accordingly, the Company measured and allocated consideration to each lease component as of the modification date. During May 2020, the Company took possession and commenced the final lease component of the Expansion Premises, which was originally anticipated to be occupied in April 2020. Taking possession of the Expansion Premises resulted in a change in payments for the entire lease. Accordingly, the lease components were remeasured as of the commencement date of the final lease component, and a corresponding ROU asset and lease liability was recorded. As of May 2020, all components under the Amendment are in use and will be co-terminous until October 2029. Information related to the Compan y’s ROU assets and related lease liabilities are as follows (in thousands except for remaining lease term and discount rate): Year Ending December 31: 2020 (remaining 3 months) $ 374 2021 1,643 2022 1,806 2023 1,845 2024 1,910 2025 1,977 Thereafter 8,237 Total lease payments 17,792 Less imputed interest ( 6,344 ) Total lease liabilities $ 11,448 Other supplemental information: Cash paid for operating lease liabilities $ 671 Operating lease liabilities arising from ROU assets 4,833 Current operating lease liabilities 457 Non-current operating lease liabilities 10,991 Total lease liabilities $ 11,448 Weighted average remaining lease term 9.08 Weighted average discount rate 10 % Rent expense, including common area maintenance charges, was $ 0.5 million and $ 0.1 million during the three-month periods ended September 30 , 2020 and 2019, respectively; and was approximately $ 1.2 million and $ 0.2 million during the nine-month periods ended September 30 , 2020 and 2019, 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.

Related Party Transactions

Related Party Transactions	9 Months Ended
	Sep. 30, 2020
Related Party Transactions [Abstract]
Related Party Transactions	9. 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 and nine-month periods ended September 30, 2020, 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 and $ 0.7 million, respectively. 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 (Note 6). During the three and nine-month periods ended September 30, 2019, the Company incurred expenses for legal services rendered by WSGR totaling approximately $ 0.1 million and $ 0.3 million, respectively. 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). A total of 4,279,600 shares of its common stock, par value $ 0.001 per share, and 641,571 warrants were issued and sold in the Rights Offering for net proceeds of $ 29.4 million. 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, Mr. Duggan was the beneficial owner of approximately 47 % of the Company’s outstanding stock as of September 30, 2020. 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 (the 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 $ 30 million of cash as 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 September 30, 2020, the amount owed to Mr. Duggan under the Letter Agreement was $ 0.9 million, recorded in the balance sheet under Accrued Liabilities.

Summary Of Significant Accoun_2

Summary Of Significant Accounting Policies (Policy)	9 Months Ended
	Sep. 30, 2020
Summary Of Significant Accounting Policies [Abstract]
Going Concern	Going Concern  As of September 30, 2020, the Company had an accumulated deficit of $ 158.8 million, cash outflows from operations of $ 26.1 million for the nine months then ended, and cash, cash equivalents and investments of $ 29.6 million. The Company has not generated any revenue from product sales since its inception and anticipates that losses may continue for the next several years until such time as the Company can generate substantial product revenue and achieve profitability. To fund ongoing operating and capital needs, the Company will need to raise additional capital. The Company plans to raise additional capital to fund its operations, for at least the next twelve months from the date of issuance of the accompanying consolidated financial statements, through the issuance and sale of equity securities. There is no assurance that additional financing will be available when needed or that management of the Company will be able to obtain financing on terms acceptable to the Company. Accordingly, the Company’s management cannot conclude that such plans will be effectively implemented within twelve months from the date of issuance of the accompanying consolidated financial statements.  These factors, combined with the Company’s forecast of cash required to fund operations for a period of at least twelve months from the date of issuance of the accompanying consolidated financial statements, raise substantial doubt about the Company’s ability to continue as a going concern.  The accompanying consolidated financial statements have been prepared on a going concern basis, which contemplates the realization of assets and satisfaction of liabilities in the ordinary course of business. The consolidated financial statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts or the amounts and classification of liabilities that might result from the outcome of this uncertainty.
COVID-19 Pandemic	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 September 30, 2020.
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, 2019 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, 2019 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, 2019. The results of operations for the three-month and nine-month periods ended September 30, 2020 are not necessarily indicative of the results to be expected for the entire year or any future periods.
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	Significant Accounting Policies There have been no material changes to the Company’s significant accounting policies during the nine-month period ended September 30, 2020, as compared to the significant accounting policies described in the Company’s Annual Report on Form 10-K for the year ended December 31, 2019.
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: Nine-Month Periods Ended September 30, 2020 2019 Common stock warrants 793,464 213,485 Common stock options 5,207,326 3,545,491 Restricted stock units 34,402 111,305 Total 6,035,192 3,870,281
Recent Accounting Pronouncement	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 is currently evaluating the impact that the standard will have on its financial statements and related disclosures; and does not expect the adoption to have a material impact on the Company’s financial statements.

Summary Of Significant Accoun_3

Summary Of Significant Accounting Policies (Tables)	9 Months Ended
	Sep. 30, 2020
Summary Of Significant Accounting Policies [Abstract]
Anti-Dilutive Shares Excluded From Computation Of Diluted Net Loss Per Share	Nine-Month Periods Ended September 30, 2020 2019 Common stock warrants 793,464 213,485 Common stock options 5,207,326 3,545,491 Restricted stock units 34,402 111,305 Total 6,035,192 3,870,281

Fair Value Of Financial Instr_2

Fair Value Of Financial Instruments (Tables)	9 Months Ended
	Sep. 30, 2020
Fair Value Of Financial Instruments [Abstract]
Fair Value Of Financial Assets Measured On A Recurring Basis	September 30, 2020 December 31, 2019 Assets Classification Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Money market funds Cash and cash equivalents $ 5,598 $ — $ — $ 5,598 $ 6,429 $ — $ — $ 6,429 U.S. Treasury Securities Investments — 22,516 — 22,516 — 18,499 — 18,499 Total assets measured at fair value $ 5,598 $ 22,516 $ — $ 28,114 $ 6,429 $ 18,499 $ — $ 24,928

Balance Sheet Components (Table

Balance Sheet Components (Tables)	9 Months Ended
	Sep. 30, 2020
Balance Sheet Components [Abstract]
Schedule Of Property And Equipment, Net	September 30, December 31, 2020 2019 Leasehold improvements $ 2,834 $ 2,248 Laboratory equipment 792 677 Furniture, fixtures, and equipment 481 466 Software 117 118 Construction in progress 134 543 4,358 4,052 Less: Accumulated depreciation ( 1,796 ) ( 1,486 ) $ 2,562 $ 2,566
Schedule Of Intangible Assets, Net	September 30, December 31, 2020 2019 Acquired patents and licenses $ 7,985 $ 7,985 Less: Accumulated amortization ( 3,937 ) ( 3,438 ) $ 4,048 $ 4,547
Schedule Of Amortization Of Intangible Assets	Year Ending December 31: 2020 (remaining 3 months) $ 166 2021 665 2022 665 2023 665 2024 665 2025 665 Thereafter 557 $ 4,048
Schedule Of Accrued Expenses	September 30, December 31, 2020 2019 Compensation $ 2,276 $ 1,699 Accrued clinical 268 262 Professional fees 8 51 Property and equipment 262 234 Director and officer liability insurance 938 — Other 359 250 $ 4,111 $ 2,496

Stockholders' Equity And Stoc_2

Stockholders' Equity And Stock-Based Compensation (Tables)	9 Months Ended
	Sep. 30, 2020
Stockholders' Equity [Line Items]
Summary Of Stock Option Activity	Stock Options Outstanding Weighted Number average of shares exercise price Balances — December 31, 2019 3,749,186 $ 16.18 Options granted 1,933,560 Options exercised ( 85,750 ) Options canceled ( 324,584 ) Options expired ( 65,086 ) Balances — September 30, 2020 5,207,326 $ 14.30 Exercisable — September 30, 2020 2,519,812 $ 17.08
Summary Of Stock-Based Compensation Expense	Three-Month Periods Ended Nine-Month Periods Ended September 30, September 30, 2020 2019 2020 2019 General and administrative $ 1,465 $ 1,735 $ 4,729 $ 4,881 Research and development 1,183 944 2,957 2,858 Total stock-based compensation expense $ 2,648 $ 2,679 $ 7,686 $ 7,739
Employee Stock Option [Member]
Stockholders' Equity [Line Items]
Schedule Of Fair Value Of Employee Stock Options	Three-Month Periods Ended September 30, Nine-Month Periods Ended September 30, 2020 2019 2020 2019 Expected term in years 5.8 - 6.1 5.8 - 6.1 5.3 - 6.1 0.4 - 6.1 Expected volatility 70 % 70 % 70 % 70 % Risk-free interest rate 0.3 - 0.4 % 1.4 - 1.7 % 0.4 - 0.5 % 1.4 - 2.6 % Dividend yield — — — —
2017 Employee Stock Purchase Plan [Member]
Stockholders' Equity [Line Items]
Schedule Of Fair Value Of Employee Stock Options	Three-Month Periods Ended September 30, Nine-Month Periods Ended September 30, 2020 2019 2020 2019 Expected term in years 0.5 - 1.0 0.5 - 1.0 0.5 - 1.0 0.5 - 1.0 Expected volatility 70 % 70 % 70 % 70 % Risk-free interest rate 0.1 - 0.1 % 1.7 - 1.9 % 0.1 - 1.0 % 1.7 - 2.6 % Dividend yield — — —

Commitments And Contingencies (

Commitments And Contingencies (Tables)	9 Months Ended
	Sep. 30, 2020
Commitments And Contingencies [Abstract]
Schedule Of Maturity Lease Payments	Year Ending December 31: 2020 (remaining 3 months) $ 374 2021 1,643 2022 1,806 2023 1,845 2024 1,910 2025 1,977 Thereafter 8,237 Total lease payments 17,792 Less imputed interest ( 6,344 ) Total lease liabilities $ 11,448
Schedule Of Information Related To Right-Of-Use Assets And Lease Liabilities	Other supplemental information: Cash paid for operating lease liabilities $ 671 Operating lease liabilities arising from ROU assets 4,833 Current operating lease liabilities 457 Non-current operating lease liabilities 10,991 Total lease liabilities $ 11,448 Weighted average remaining lease term 9.08 Weighted average discount rate 10 %

Summary Of Significant Accoun_4

Summary Of Significant Accounting Policies (Narrative) (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
Summary Of Significant Accounting Policies [Abstract]
Accumulated deficit	$ (158,790)		$ (122,689)
Cash used in operating activities	(26,110)	$ (24,989)
Cash, cash equivalents, and investments	29,600
Right-of-use assets	$ 9,595		$ 5,114

Summary Of Significant Accoun_5

Summary Of Significant Accounting Policies (Anti-Dilutive Shares Excluded From Computation Of Diluted Net Loss Per Share) (Details) - shares	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total	6,035,192	3,870,281
Warrants [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total	793,464	213,485
Employee Stock Option [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total	5,207,326	3,545,491
Restricted Stock Units [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total	34,402	111,305

Fair Value Of Financial Instr_3

Fair Value Of Financial Instruments (Narrative) (Details) - USD ($)	Sep. 30, 2020	Dec. 31, 2019
Fair Value Of Financial Instruments [Abstract]
Liabilities measured at fair value	$ 0	$ 0
Transfers between level 1, 2, or 3	$ 0

Fair Value Of Financial Instr_4

Fair Value Of Financial Instruments (Fair Value Of Financial Assets Measured On A Recurring Basis) (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
ASSETS
Total assets measured at fair value	$ 28,114	$ 24,928
Cash And Cash Equivalents [Member] | Money Market Funds [Member]
ASSETS
Total cash and cash equivalents	5,598	6,429
Investments [Member] | U.S. Treasury Securities [Member]
ASSETS
Total investments	22,516	18,499
Level 1 [Member]
ASSETS
Total assets measured at fair value	5,598	6,429
Level 1 [Member] | Cash And Cash Equivalents [Member] | Money Market Funds [Member]
ASSETS
Total cash and cash equivalents	5,598	6,429
Level 2 [Member]
ASSETS
Total assets measured at fair value	22,516	18,499
Level 2 [Member] | Investments [Member] | U.S. Treasury Securities [Member]
ASSETS
Total investments	$ 22,516	$ 18,499

Balance Sheet Components (Narra

Balance Sheet Components (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
Balance Sheet Components [Abstract]
Depreciation expense	$ 100	$ 100	$ 310	$ 390
Intangible asset useful life			12 years
Compensation expense	$ 2,276		$ 2,276		$ 1,699

Balance Sheet Components (Sched

Balance Sheet Components (Schedule Of Property And Equipment, Net) (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Property, Plant and Equipment [Line Items]
Equipment, gross	$ 4,358	$ 4,052
Less: Accumulated depreciation and amortization	(1,796)	(1,486)
Equipment, net	2,562	2,566
Leasehold Improvements [Member]
Property, Plant and Equipment [Line Items]
Equipment, gross	2,834	2,248
Laboratory Equipment [Member]
Property, Plant and Equipment [Line Items]
Equipment, gross	792	677
Furniture, Fixtures, And Equipment [Member]
Property, Plant and Equipment [Line Items]
Equipment, gross	481	466
Software [Member]
Property, Plant and Equipment [Line Items]
Equipment, gross	$ 134	$ 543

Balance Sheet Components (Sch_2

Balance Sheet Components (Schedule Of Intangible Assets, Net) (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Finite-Lived Intangible Assets [Line Items]
Less: Accumulated amortization	$ (3,937)	$ (3,438)
Intangible assets, net	4,048	4,547
Acquired Patents And Licenses [Member]
Finite-Lived Intangible Assets [Line Items]
Acquired patents and licenses	$ 7,985	$ 7,985

Balance Sheet Components (Sch_3

Balance Sheet Components (Schedule Of Amortization Of Intangible Assets) (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Balance Sheet Components [Abstract]
2020 (remaining 3 months)	$ 166
2021	665
2022	665
2023	665
2024	665
Thereafter	557
Intangible assets, net	$ 4,048	$ 4,547

Balance Sheet Components (Sch_4

Balance Sheet Components (Schedule Of Accrued Expenses) (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Balance Sheet Components [Abstract]
Compensation expense	$ 2,276	$ 1,699
Accrued clinical	268	262
Professional fees	8	51
Property and equipment	262	234
Director and officer liability insurance	938
Other	359	250
Accrued expenses	$ 4,111	$ 2,496

Goodwill (Narrative) (Details)

Goodwill (Narrative) (Details) - USD ($)	9 Months Ended	12 Months Ended
	Sep. 30, 2020	Dec. 31, 2019	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 Stoc_3

Stockholders' Equity And Stock-Based Compensation (Narrative) (Details) - USD ($) $ / shares in Units, $ in Thousands	Jan. 01, 2019	Jun. 30, 2020	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019	Nov. 30, 2017	Dec. 31, 2016	Dec. 31, 2014
Stockholders' Equity [Line Items]
Common stock, par value			$ 0.001		$ 0.001		$ 0.001
Proceeds from issuance of common stock under employee stock purchase plan					$ 490	$ 423
Common stock, shares issued			25,290,000		25,290,000		20,825,000
Options granted					1,933,560
Warrants exercised					85,750
Exercise price			$ 17.08		$ 17.08
Total stock-based compensation expense			$ 2,648	$ 2,679	$ 7,686	7,739
Cash received from option exercises					$ 349	272
2017 Employee Stock Purchase Plan [Member]
Stockholders' Equity [Line Items]
Common stock, shares issued			82,971		82,971
Shares authorized			250,000		250,000
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			357,224		357,224
2017 Inducement Equity Incentive Plan [Member]
Stockholders' Equity [Line Items]
Term period					10 years
Shares authorized								1,000,000
Shares available for grant			26,283		26,283
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	833,018
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			371,958		371,958
Rights Offering [Member]
Stockholders' Equity [Line Items]
Common stock, par value		$ 0.001
Price per share		$ 7.01
Value of warrants/rights		$ 30,000
Number of warrants to purchase shares of common stock		0.15
Net proceeds		$ 29,400
Warrants/rights outstanding		641,571	625,617		625,617
Exercise price of warrants/rights		$ 7.01
Redemption per warrant		$ 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
Period of time warrant not able to be redeemed					6 months
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		$ 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			$ 1,465	1,735	$ 4,729	4,881
Research and development [Member]
Stockholders' Equity [Line Items]
Total stock-based compensation expense			$ 1,183	$ 944	$ 2,957	$ 2,858
Initial Public Offering [Member] | Rights Offering [Member]
Stockholders' Equity [Line Items]
Warrants/rights outstanding			121,609		121,609
Private Placement [Member]
Stockholders' Equity [Line Items]
Common stock, par value										$ 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			85,000		86,000	99,000
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		43.00%	47.00%		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									$ 5
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										$ 2.67
Warrants/rights outstanding			46,238		46,238
Exercisable period of warrants or rights					7 years
Number of common shares called by issuance of warrants										299,625

Stockholders' Equity And Stoc_4

Stockholders' Equity And Stock-Based Compensation (Summary Of Stock Option Activity) (Details) - $ / shares	9 Months Ended
	Sep. 30, 2020
Stockholders' Equity And Stock-Based Compensation [Abstract]
Beginning Balance, Number of shares	3,749,186
Options granted, Number of shares	1,933,560
Options exercised, Number of shares	(85,750)
Options canceled, Number of shares	(324,584)
Options expired, Number of shares	(65,086)
Ending Balance, Number of shares	5,207,326
Exercisable, Number of shares	2,519,812
Beginning Balance, Weighted average exercise price per share	$ 16.18
Ending Balance, Weighted average exercise price per share	14.30
Exercisable, Weighted average exercise price per share	$ 17.08

Stockholders' Equity And Stoc_5

Stockholders' Equity And Stock-Based Compensation (Schedule Of Stock-Based Compensation Expense) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total stock-based compensation expense	$ 2,648	$ 2,679	$ 7,686	$ 7,739
General and administrative [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total stock-based compensation expense	1,465	1,735	4,729	4,881
Research and development [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total stock-based compensation expense	$ 1,183	$ 944	$ 2,957	$ 2,858

Stockholders' Equity And Stoc_6

Stockholders' Equity And Stock-Based Compensation (Schedule Of Fair Value Of Employee Stock Options) (Details)	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Employee Stock Option [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expected volatility	70.00%	70.00%	70.00%	70.00%
Employee Stock Option [Member] | Minimum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expected term in years	5 years 9 months 18 days	5 years 9 months 18 days	5 years 3 months 18 days	4 months 24 days
Risk-free interest rate	0.30%	1.40%	0.40%	1.40%
Employee Stock Option [Member] | Maximum [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	6 years 1 month 6 days	6 years 1 month 6 days
Risk-free interest rate	0.40%	1.70%	0.50%	2.60%
2017 Employee Stock Purchase Plan [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expected volatility	70.00%	70.00%	70.00%	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	6 months	6 months
Risk-free interest rate	0.10%	1.70%	0.10%	1.70%
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	1 year	1 year
Risk-free interest rate	0.10%	1.90%	1.00%	2.60%

Research Grants And Agreements

Research Grants And Agreements (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Research and development expense	$ 6,968	$ 6,192	$ 19,019	$ 18,371
Sponsored Research Agreement ("SRA") [Member]
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Research and development expense	$ 200	100	600
ODURF [Member]
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Research and development expense			$ 800
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		$ 800

Commitments And Contingencies_2

Commitments And Contingencies (Narrative) (Details) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020USD ($)	Sep. 30, 2019USD ($)	Sep. 30, 2020USD ($)	Sep. 30, 2019USD ($)	May 31, 2019ft²	Jan. 31, 2017ft²
Commitments and Contingencies [Line Items]
Rent expense, including common area maintenance charges | $	$ 0.5	$ 0.1	$ 1.2	$ 0.2
Hayward, CA [Member]
Commitments and Contingencies [Line Items]
Lease term						5 years
Area Of Lease						15,700
Lease Amendment [Member]
Commitments and Contingencies [Line Items]
Area Of Lease					34,600

Commitments And Contingencies_3

Commitments And Contingencies (Schedule Of Maturity Lease Payments) (Details) $ in Thousands	Sep. 30, 2020USD ($)
Commitments And Contingencies [Abstract]
2020 (remaining 3 months)	$ 374
2021	1,643
2022	1,806
2023	1,845
2024	1,910
2025	1,977
Thereafter	8,237
Total lease payments	17,792
Less imputed interest	(6,344)
Total lease liabilities	$ 11,448

Commitments And Contingencies_4

Commitments And Contingencies (Schedule Of Information Related To Right-Of-Use Assets And Lease Liabilities) (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2020	Dec. 31, 2019
Commitments And Contingencies [Abstract]
Cash paid for operating lease liabilities	$ 671
Operating lease liabilities arising from ROU assets including impact of ASC 842 adoption	4,833
Current operating lease liabilities	457
Non-current operating lease liabilities	10,991	$ 6,719
Total lease liabilities	$ 11,448
Weighted average remaining lease term	9 years 29 days
Weighted average discount rate	10.00%

Related Party Transactions (Nar

Related Party Transactions (Narrative) (Details) - USD ($) $ / shares in Units, $ in Millions	1 Months Ended	3 Months Ended		9 Months Ended
	Jun. 30, 2020	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019	Dec. 31, 2016
Related Party Transaction [Line Items]
Common stock, shares issued		25,290,000		25,290,000		20,825,000
Common stock, par value		$ 0.001		$ 0.001		$ 0.001
Coverage period				1 year
Deposit for insurance		$ 30		$ 30
Chairman, Robert W. Duggan [Member] | Rights Offering [Member]
Related Party Transaction [Line Items]
Ownership percentage		47.00%		47.00%		43.00%
MDB Capital Group, LLC [Member] | Initial Public Offering [Member]
Related Party Transaction [Line Items]
Number of common shares called by issuance of warrants							574,985
Robert W. Duggan [Member]
Related Party Transaction [Line Items]
Due to related parties		$ 2.5		$ 2.5
Robert W. Duggan [Member] | Rights Offering [Member]
Related Party Transaction [Line Items]
Number of common shares called by issuance of warrants	2,561,873
Ownership percentage	43.00%	47.00%		47.00%
Legal Expenses [Member] | Wilson Sonsini Goodrich And Rosati (WSGR) [Member]
Related Party Transaction [Line Items]
Related party expenses		$ 0.2	$ 0.1	$ 0.7	$ 0.3
Letter Agreement [Member] | Robert W. Duggan [Member]
Related Party Transaction [Line Items]
Due to related parties		$ 0.9		$ 0.9
Rights Offering [Member]
Related Party Transaction [Line Items]
Common stock, par value	$ 0.001
Warrants/rights outstanding	641,571	625,617		625,617
Number of warrants to purchase shares of common stock	0.15
Exercise price of warrants/rights	$ 7.01
Number of common shares called by issuance of warrants	4,279,600
Value of warrants/rights	$ 30
Net proceeds	$ 29.4
Rights Offering [Member] | Initial Public Offering [Member]
Related Party Transaction [Line Items]
Warrants/rights outstanding		121,609		121,609
Rights Offering [Member] | Rights Offering [Member]
Related Party Transaction [Line Items]
Common stock, par value	$ 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		641,571		641,571