Pulse Biosciences (PLSE) 10-Q 11 May 22 2022 Q1 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	3 Months Ended
	Mar. 31, 2022	Apr. 30, 2022
Document And Entity Information [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2022
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	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		29,802,280
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q1
Entity Central Index Key	0001625101
Amendment Flag	false

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 12,676	$ 28,614
Accounts receivable	21	61
Inventory	7,487	5,824
Prepaid expenses and other current assets	1,979	2,131
Total current assets	22,163	36,630
Property and equipment, net	2,554	2,462
Intangible assets, net	3,050	3,216
Goodwill	2,791	2,791
Right-of-use assets	8,611	8,785
Other assets	365	365
Total assets	39,534	54,249
Current liabilities:
Accounts payable	3,486	2,904
Accrued expenses	4,604	4,389
Deferred revenue	16	16
Lease liability, current	799	774
Note payable, current		436
Total current liabilities	8,905	8,519
Lease liability, less current portion	9,833	10,040
Total liabilities	18,738	18,559
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 – 29,802 shares and 29,716 shares at March 31, 2022 and December 31, 2021, respectively	29	29
Additional paid-in-capital	274,240	271,861
Accumulated other comprehensive loss
Accumulated deficit	(253,473)	(236,200)
Total stockholders' equity	20,796	35,690
Total liabilities and stockholders' equity	$ 39,534	$ 54,249

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Mar. 31, 2022	Dec. 31, 2021
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	29,802,000	29,716,000
Common stock, shares outstanding	29,802,000	29,716,000

Condensed Consolidated Statemen

Condensed Consolidated Statements Of Operations And Comprehensive Loss - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Revenues:
Revenues	$ 444
Cost and expenses:
Cost of revenues	909
Research and development	6,769	$ 9,063
Sales and marketing	5,541	4,146
General and administrative	4,498	5,316
Total costs and expenses	17,717	18,525
Loss from operations	(17,273)	(18,525)
Other income (expense):
Interest income (expense), net		(114)
Total other income (expense)		(114)
Net loss	(17,273)	(18,639)
Other comprehensive gain (loss):
Unrealized gain (loss) on available-for-sale securities		1
Comprehensive loss	$ (17,273)	$ (18,638)
Net loss per share:
Basic and diluted net loss per share	$ (0.58)	$ (0.71)
Weighted average shares used to compute net loss per common share - basic and diluted	29,745	26,072
Product [Member]
Revenues:
Revenues	$ 444

Condensed Consolidated Statem_2

Condensed Consolidated Statements Of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Cash flows from operating activities:
Net loss	$ (17,273)	$ (18,639)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation	160	113
Amortization of intangible assets	166	167
Stock-based compensation	2,007	6,965
Net premium amortization and discount on available-for-sale securities		13
Changes in operating assets and liabilities:
Accounts receivable	40
Inventory	(1,663)	(1,135)
Prepaid expenses and other current assets	191	(124)
Other receivables	(39)	48
Right-of-use assets	174	158
Accounts payable	609	433
Accrued expenses	215	291
Lease liabilities	(182)	(95)
Accrued interest on note payable	1	118
Net cash used in operating activities	(15,594)	(11,687)
Cash flows from investing activities:
Purchases of property and equipment	(279)	(51)
Maturities of investments		8,000
Net cash provided by (used in) investing activities	(279)	7,949
Cash flows from financing activities:
Proceeds from issuance of common stock under employee stock purchase plan	372	430
Proceeds from exercises of warrants		4,217
Proceeds from exercises of stock options		619
Proceeds from issuance of common stock		4,892
Proceeds from issuance of related party note		41,000
Payments made on insurance loan agreement	(437)
Net cash provided by (used in) financing activities	(65)	51,158
Net increase (decrease) in cash and cash equivalents	(15,938)	47,420
Cash and cash equivalents at beginning of period	28,614	12,463
Cash and cash equivalents at end of period	12,676	59,883
Supplemental disclosure of noncash investing and financing activities:
Equipment purchases included in accounts payable and accrued expenses	$ (27)	14
Change in unrealized gains on available-for-sale securities		1
Other receivable from issuance of common stock from at-the-market equity offering		$ (71)

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Stockholders' Equity - USD ($) shares in Thousands, $ in Thousands	Common Stock [Member]	Additional Paid-in Capital [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Accumulated Deficit [Member]	Total
Balance at Dec. 31, 2020	$ 25	$ 195,410	$ (1)	$ (172,540)	$ 22,894
Balance, shares at Dec. 31, 2020	25,550
Issuance of shares upon exercise of stock options		449			449
Issuance of shares upon exercise of stock options, shares	40
Issuance of shares under employee stock purchase plan		430			430
Issuance of shares under employee stock purchase plan, shares	68
Issuance of shares upon exercise of warrants	$ 1	3,333			3,334
Issuance of shares upon exercise of warrants, shares	585
Issuance of common stock in an at-the-market equity offering, net of issuance costs of $446		4,963			4,963
Issuance of common stock in an at-the-market equity offering, net of issuance costs of $446, shares	158
Stock-based compensation expense		6,965			6,965
Unrealized gain 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
Balance at Dec. 31, 2021	$ 29	271,861		(236,200)	$ 35,690
Balance, shares at Dec. 31, 2021	29,716				29,716
Issuance of shares under employee stock purchase plan		372			$ 372
Issuance of shares under employee stock purchase plan, shares	86
Stock-based compensation expense		2,007			2,007
Net loss				(17,273)	(17,273)
Balance at Mar. 31, 2022	$ 29	$ 274,240		$ (253,473)	$ 20,796
Balance, shares at Mar. 31, 2022	29,802				29,802

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Stockholders' Equity (Parenthetical) $ in Thousands	3 Months Ended
	Mar. 31, 2021USD ($)
Condensed Consolidated Statement of Stockholders' Equity [Abstract]
Issuance of common stock, issuance costs	$ 446

Description Of The Business

Description Of The Business	3 Months Ended
	Mar. 31, 2022
Description Of The Business [Abstract]
Description Of The Business	1. Description of the Business Pulse Biosciences, Inc. is a novel bioelectric medicine company committed to health innovation using an entirely new and proprietary energy modality. The Company’s CellFX System is the first commercial product to harness the distinctive advantages of the Company’s proprietary NPS technology. The CellFX System delivers nanosecond duration pulses of electrical energy, each less than a millionth of a second long, to non-thermally clear targeted cells while sparing adjacent non-cellular tissue, to treat a variety of medical conditions for which an optimal solution remains unfulfilled. In February 2021, the Company received 510(k) clearance from the FDA for the CellFX System for dermatologic procedures requiring ablation and resurfacing of the skin. In January 2021, the Company received CE marking approval for the CellFX System, which allows for marketing of the system in the EU and, in June 2021, the Company received Health Canada approval for the CellFX System, which allows for marketing of the system in Canada. The CE mark and Health Canada approvals allow for use of the CellFX System in dermatological procedures requiring ablation and resurfacing of the skin for the reduction, removal, and/or clearance of cellular-based benign lesions, including SH, SK, and cutaneous non-genital warts. The Company will continue to pursue specific indications for the CellFX System in the United States similar to the regulatory clearances already received in Europe and Canada. This will require additional 510(k) submissions for each subsequent indication, and will likely be based on comparative clinical data. In December 2021, the Company submitted a 510(k) to add the treatment of SH to the CellFX System’s indications for use in the United States. In February 2022 the Company received an AI letter from the FDA in response to the 510(k) submitted. In the AI letter, the FDA stated it did not believe the Company provided sufficient clinical evidence at this time to support the expanded indication for use, and that the Company had not met the primary endpoints of the SH FDA-approved IDE study. The Company met with the FDA at the end of April 2022 to gain clarification regarding the AI letter and to discuss the appropriate next steps. Following the meeting and at the FDA’s request, the Company provided additional analysis of the sebaceous hyperplasia comparative clinical data. The Company anticipates a follow-on discussion with the FDA to review the additional datasets and expects to continue to collaborate with the FDA to formally respond to the AI letter. In February 2021, the Company initiated controlled launch programs (Note 9) in the United States and the European Union and in June 2021 the Company initiated a controlled launch program in Canada (collectively, our “Controlled Launch”). In August 2021, the Company began to convert Controlled Launch program participants into sales agreements, thereby triggering revenue recognition. On March 31, 2022, the Company initiated a plan to reduce its operating expenses, preserve financial resources, and focus its sales and marketing efforts on increasing utilization of CellFX Systems. The Company’s Board of Directors has approved changes to the Company’s commercial leadership, restructuring of its commercial field organization and reductions in other personnel and expenses across the Company. The Company announced a reduction in force effective as of March 31, 2022. See Note 13 for additional details. 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 is located in Hayward, California. The Company’s activities are subject to significant risks and uncertainties, including the need for additional capital. The Company does not currently have any cash flows from operations. It has recently commenced revenue-generating 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.

Summary Of Significant Accounti

Summary Of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2022
Summary Of Significant Accounting Policies [Abstract]
Summary Of Significant Accounting Policies	2. Summary of Significant Accounting Policies Going Concern As of March 31, 2022, the Company had an accumulated deficit of $ 253.5 million, cash outflows from operations of $ 15.6 million for the three months then ended, cash and cash equivalents of $ 12.7 million and a net loss of $ 17.3 million. The Company has recently begun to generate revenue from product sales, but anticipates net losses for the next several years or until it can generate substantial product revenue and achieve profitability. Based on the Company’s current operating plan, the Company has determined that, with its current financial resources, the Company would be able to operate through the second quarter of 2022. As the Company’s operating plan does not allow the Company to operate for a period of twelve months from the date the condensed consolidated financial statements are issued without additional financing, based on the Accounting Standards Codification (“ASC”) 205-40, Presentation of Financial Statements – Going Concern , the Company is required to disclose that substantial doubt regarding the Company’s ability to continue as a going concern exists. This evaluation initially cannot take into consideration the potential mitigating effects of plans that have not been fully implemented as of the date the financial statements are issued. To continue to fund the operations of the Company beyond this time period, management has developed plans, which primarily consist of raising additional capital through some combination of public or private equity offerings, debt financings, the Company’s at-the-market equity offering program, and/or potential new collaborations. Refer to Note 14 for details of a rights offering announced on April 14, 2022 to raise additional capital. There is no assurance, however, that any additional financing or any revenue-generating collaboration will be available when needed or that management of the Company will be able to obtain financing or enter into a collaboration on terms acceptable to the Company. The accompanying condensed 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 condensed 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. Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared on a basis consistent with the Company’s December 31 , 2021 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 (the “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, 2021 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, 2022, 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, inventory valuation, warranty obligations, 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, 2021. The Company continually evaluates the accounting policies and estimates used in preparing the consolidated financial statements. There have been no material changes to the Company’s significant accounting policies during the three-month period ended March 31, 2022, as compared to the significant accounting policies described in the Company’s Annual Report on Form 10-K for the year ended December 31, 2021. 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, 2022, there is no reduction to the balance of inventory for excessive and obsolete inventory. Revenue from Contracts with Customers The Company recognizes revenue at a point in time when it satisfies performance obligations by transferring control of promised goods to its customers. The amount of revenue recognized is equal to the consideration which the Company is entitled to in exchange for the promised goods, excluding any amounts assessed by government authorities for taxes which might be collected from a customer. Sales contracts often involve the sale and delivery of multiple products, each of which typically represent a separate performance obligation in the contract. While the Company sells these products on a stand-alone basis at their respective stand-alone selling prices (“SSP”), initial customer contracts will primarily involve the bundling of products which will be delivered concurrently to the customer. In such instances, the full consideration of the contract will be recognized upon shipment of the products. The Company generally requires receipt of full payment prior to shipment, however, from time to time, payment terms may be extended to customers upon which the Company will perform a necessary credit evaluation to ensure future collectability of the outstanding balance. The Company does not believe any portion of the outstanding accounts receivable balance to be uncollectible, and has therefore not recorded an allowance against the accounts receivable balance. Refer to Note 10 for further details. Product Warranty The Company provides a standard warranty on eligible products which provides the customer assurances that the products comply with the agreed-upon specifications. The standard warranty does not provide any services in addition to those assurances. The Company accrues a warranty reserve for products sold based upon the best estimate of the nature, frequency, and costs of future claims. These estimates are inherently uncertain given the short history of sales, and changes to the historical or projected warranty experience may cause material changes to the warranty reserve in the future. The warranty reserve is included within Accrued expenses on the consolidated balance sheets. Warranty expense is recorded as a component of Cost of Revenues in the consolidated statements of operations and comprehensive loss . Warranty accrual activity consisted of the following for the three-month periods ended March 31, 2022 and 2021 (in thousands): Three-Month Periods Ended March 31, 2022 2021 Beginning balance $ 80 $ — Add: Accruals for warranties issued during the period 17 — Less: Settlements made during the period — — Ending balance $ 97 $ — 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, 2022 2021 Common stock warrants — 600 Common stock options 5,558,884 5,476,636 Restricted stock units — 111,305 Total 5,558,884 5,588,541 Recent Accounting Pronouncements There are no recent accounting pronouncements that impact the Company’s operations.

Fair Value Of Financial Instrum

Fair Value Of Financial Instruments	3 Months Ended
	Mar. 31, 2022
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, 2022 and December 31, 2021, respectively (in thousands): March 31, 2022 December 31, 2021 Assets Classification Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Money market funds Cash and cash equivalents $ 2,675 $ — $ — $ 2,675 $ 23,675 $ — $ — $ 23,675 U.S. Treasury securities Cash and cash equivalents — 5,000 — 5,000 — — — — Total assets measured at fair value $ 2,675 $ 5,000 $ — $ 7,675 $ 23,675 $ — $ — $ 23,675 The Company did no t have any financial liabilities measured on a recurring basis as of March 31, 2022 or December 31, 2021. During the three-month period ended March 31, 2022, 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	3 Months Ended
	Mar. 31, 2022
Balance Sheet Components [Abstract]
Balance Sheet Components	4. Balance Sheet Components Inventory Inventory consisted of the following (in thousands): March 31, December 31, 2022 2021 Raw materials $ 3,073 $ 2,010 Work in process 1,676 1,371 Finished goods 2,738 2,443 Total inventory $ 7,487 $ 5,824 Property and Equipment, Net Property and equipment, net consisted of the following (in thousands): March 31, December 31, 2022 2021 Leasehold improvements $ 2,519 $ 2,519 Laboratory equipment 1,310 1,019 Furniture, fixtures, and equipment 932 932 Software 264 202 Construction in progress 85 186 5,110 4,858 Less: Accumulated depreciation ( 2,556 ) ( 2,396 ) Property and equipment, net $ 2,554 $ 2,462 Depreciation expense was $ 0.2 million for the three-month period ended March 31, 2022 and $ 0.1 million for the three-month period ended March 31, 2021. 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, 2022 2021 Acquired patents and licenses $ 7,985 $ 7,985 Less: Accumulated amortization ( 4,935 ) ( 4,769 ) Intangible assets, net $ 3,050 $ 3,216 A schedule of the amortization of intangible assets for the remainder of 2022 and the succeeding four fiscal years is as follows (in thousands): Year Ending December 31: 2022 (remaining 9 months) $ 499 2023 665 2024 665 2025 665 2026 556 Total $ 3,050 Accrued Expenses Accrued expenses consisted of the following (in thousands): March 31, December 31, 2022 2021 Compensation $ 3,588 $ 2,932 Controlled launch (Note 9) 414 534 Clinical trial costs and fees 121 245 Professional fees 89 85 Warranty 97 80 Other 295 513 Total accrued expenses $ 4,604 $ 4,389 Accrued compensation at March 31, 2022, includes a discrete charge of $ 0.7 million related to a reduction in force initiated on March 31, 2022. See Note 13 for additional details.

Goodwill

Goodwill	3 Months Ended
	Mar. 31, 2022
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, 2021 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, 2022.

Stockholders' Equity And Stock-

Stockholders' Equity And Stock-Based Compensation	3 Months Ended
	Mar. 31, 2022
Stockholders' Equity And Stock-Based Compensation [Abstract]
Stockholders' Equity And Stock-Based Compensation	6. Stockholders’ Equity and Stock-Based Compensation Private Placement Securities Purchase Agreement On June 30, 2021, the Company entered into a Securities Purchase Agreement with Robert W. Duggan, the Company’s largest stockholder and Board Chairman, pursuant to which the Company issued and sold to Mr. Duggan 3,048,780 shares of the Company’s common stock, par value $ 0.001 per share, in a private placement (the “Private Placement”), at a price per share of $ 16.40 , which was the market closing price on the date of the transaction. These shares were paid for through (i) the conversion of $ 41.0 million aggregate principal amount, together with all accrued and unpaid interest outstanding, owed to Mr. Duggan under the Loan Agreement by and between the Company and Mr. Duggan (Note 8), and (ii) additional cash in the amount of approximately $ 8.4 million. Upon the closing of this Private Placement and satisfaction of the outstanding debt, the Loan Agreement terminated, without any early termination fees or penalties being owed by the Company, and no additional amounts were owed to Mr. Duggan under the Loan Agreement. The cash proceeds of approximately $ 8.4 million were received by the Company in July 2021. At-the-Market Equity Offering On February 4, 2021, the Company entered into a sales agreement (the “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, 2022, the Company did not issue or sell any shares of common stock under the Sales Agreement. During the three-month period ended March 31, 2021, the Company issued and sold 288,490 shares of common stock under the Sales Agreement. The shares were sold at a weighted average price of $ 27.73 per share for aggregate net proceeds of approximately $ 7.4 million, after deducting sales commissions and offering costs payable by the Company. Common Stock Warrants In connection with a private placement in November 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 a 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, 2022, there were no Private Placement Warrants outstanding. In connection with the closing of the Company’s initial public offering in May 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 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, 2022, there were no IPO Warrants outstanding. In connection with a June 2020 rights offering, the Company issued warrants (the “Rights Offering Warrants”) to purchase a total of 641,571 shares of its common stock at an exercise price of $ 7.01 . These 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 issuance 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. 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, 2022, 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 (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, 2022, the number of shares of common stock available under the 2017 Plan increased automatically by 1,188,657 shares pursuant to the evergreen provision of the 2017 Plan, which provides that the number of shares available to grant under the 2017 Plan will increase each year by the lesser 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, 2022, 2,339,229 shares of common stock remained available for issuance under the 2017 Plan. In 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 % per year 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 as non-employee directors of the Company prior to the Inducement Plan’s adoption date. In May 2021, the Board approved an amendment to the Inducement Plan to reserve an additional 1,000,000 shares of the Company’s common stock for issuance pursuant to the Inducement Plan. As of March 31, 2022, 775,066 shares of common stock remained available for issuance under the Inducement Plan. A summary of stock option activity under the 2015 Plan, 2017 Plan and Inducement Plan for the three-months ended March 31, 2022 is presented below: Stock Options Outstanding Weighted Number average of shares exercise price Balances — December 31, 2021 5,996,813 $ 15.77 Options granted 381,300 Options exercised - Options canceled ( 819,229 ) Options expired - Balances — March 31, 2022 5,558,884 $ 15.62 Exercisable — March 31, 2022 3,670,055 $ 15.99 Time-based Options The Company awards time-based options which vest and become exercisable, subject to the individual’s continued employment or service through the applicable vesting date. Time-based options can have various vesting schedules, most commonly n ew hire grants which generally vest 25% per year starting upon the first anniversary of the grant. A summary of the time-based stock option activity under the 2015 Plan, 2017 Plan and Inducement Plan for the three-months ended March 31, 2022 is presented below: Stock Options Outstanding Weighted Number average of shares exercise price Balances — December 31, 2021 4,796,716 $ 16.44 Options granted 231,300 Options exercised - Options canceled ( 203,354 ) Options expired - Balances — March 31, 2022 4,824,662 $ 15.94 Exercisable — March 31, 2022 3,367,508 $ 16.39 Performance Options 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. The options will vest and become exercisable once the specific performance condition is fulfilled. A summary of the performance option activity under the 2017 Plan and Inducement Plan for the three-months ended March 31, 2022 is presented below: Stock Options Outstanding Weighted Number average of shares exercise price Balances — December 31, 2021 1,200,097 $ 13.11 Options granted 150,000 Options exercised - Options canceled ( 615,875 ) Options expired - Balances — March 31, 2022 734,222 $ 13.51 Exercisable — March 31, 2022 302,547 $ 11.48 The Company estimates 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, 2022 2021 Expected term in years 6.3 - 6.8 6.1 Expected volatility 83 % 78 % Risk-free interest rate 1.9 % 1.0 - 1.1 % Dividend yield — — 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. The Board waived the evergreen provision for 2022 and no additional shares were reserved under the 2017 ESPP. During the three-month period ended March 31, 2022, the Company issued 85,844 shares of common stock under the 2017 ESPP. As of March 31, 2022, 563,252 shares of common stock remained available for issuance under the 2017 ESPP. 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, 2022 2021 Expected term in years 0.5 - 1.0 0.5 - 1.0 Expected volatility 83 % 91 % Risk-free interest rate 0.6 - 0.9 % 0.07 - 0.08 % Dividend yield — — Stock-based Compensation Total stock-based compensation expense consisted of the following (in thousands): Three-Month Periods Ended March 31, 2022 2021 Cost of revenues $ 90 $ — Research and development 457 3,166 Sales and marketing 454 1,761 General and administrative 1,006 2,038 Total stock-based compensation expense $ 2,007 $ 6,965 As of March 31, 2022, not all of the performance conditions of the performance options are probable to be achieved. Compensation expense has only been recognized for those conditions that are assumed to be probable . In February 2021, the Compensation Committee approved of a modification to certain vesting conditions of outstanding Performance Options. The Company had no t 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. Total stock-based compensation expense by type was as follows (in thousands): Three-Month Periods Ended March 31, 2022 2021 Time-based options $ 1,807 $ 1,770 Performance options 84 5,141 ESPP 116 54 Total stock-based compensation expense $ 2,007 $ 6,965

Research Grants And Agreements

Research Grants And Agreements	3 Months Ended
	Mar. 31, 2022
Research Grants And Agreements [Abstract]
Research Grants And Agreements	7. Research Grants and Agreements Sponsored Research Agreement The Company may sponsor research activities (“SRAs”) performed by 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 agreed to sponsor a task order in the amount of $ 0.3 million for research performed during the subsequent 12 -month period to be funded through monthly payments to ODURF. In May 2021, the Company agreed to sponsor an additional task order in the amount of $ 0.3 million for research performed during the subsequent 12 -month period. These SRAs are funded through monthly payments to ODURF. Payments will be 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 period ended March 31, 2022, the Company incurred costs relating to the SRAs equal to $ 0.1 million. During the three-month period ended March 31, 2021, there were no costs incurred relating to the SRAs. As of March 31, 2022, there is approximately $ 0.1 million of unbilled SRAs left under the task orders.

Commitments And Contingencies

Commitments And Contingencies	3 Months Ended
	Mar. 31, 2022
Commitments And Contingencies [Abstract]
Commitments And Contingencies	8. Commitments and Contingencies Loan Agreement On March 11, 2021, the Company and Robert W. Duggan, the Board Chairman, entered into a Loan Agreement in connection with Mr. Duggan lending the principal sum of $ 41.0 million to the Company. The Loan Agreement bore interest at a rate per annum equal to 5.0 %, payable quarterly commencing on July 1, 2021. During the three-month period ended March 31, 2021, the Company recorded $ 0.1 million of interest expense in relation to this Loan Agreement. During the three-month period ended March 31, 2022, there was no interest expense recorded in relation to this Loan Agreement. In June 2021, the Loan Agreement was terminated and $ 41.0 million principal, together with approximately $ 0.6 million of accrued and unpaid interest, was fully settled via issuance of the Company’s common stock at a price per share of $ 16.40 . Refer to Note 6 for additional details of the private placement sale. Insurance Loan Agreement On May 13, 2021, the Company secured its annual director and officer liability insurance policy. The total premiums for the policy are approximately $ 2.6 million, of which the Company made a down payment of $ 0.7 million and financed the balance of $ 1.9 million via an Insurance Loan Agreement. The Insurance Loan Agreement has an annual interest rate of 3.69 % and requires monthly payments through February 2022, upon which the Insurance Loan Agreement was paid in full. At March 31, 2022, there was no outstanding portion of this Insurance Loan Agreement recorded on the balance sheet. Operating Leases In 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 lease commenced in July 2017. In May 2019, the Company entered into Lease Amendment 1 (the “Lease 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 October 2029 to be coterminous with Expansion Premises 1 and Expansion Premises 2. The Company evaluated the lease amendment under the provisions of ASC 842. It concluded that the Lease Amendment would be accounted for as a single contract with the Existing Lease because the additional lease payments due to the Lease Amendment was not commensurate with the right-of-use asset granted to the Company. Though the Lease 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 Compan y’s right-of-use assets and related lease liabilities are as follows (in thousands, except for remaining lease term and discount rate): Year Ending December 31: 2022 (remaining 9 months) $ 1,359 2023 1,845 2024 1,910 2025 1,977 2026 2,046 Thereafter 6,191 Total lease payments 15,328 Less imputed interest ( 4,696 ) Total lease liabilities $ 10,632 Other supplemental information: Current operating lease liabilities $ 799 Non-current operating lease liabilities 9,833 Total lease liabilities $ 10,632 Cash paid for operating lease liabilities $ 447 Weighted average remaining lease term 7.59 Weighted average discount rate 10 % Rent expense, including common area maintenance charges, was $ 0.5 million for each of the three-month periods ended March 31 , 2022 and 2021. 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, corporate governance, product liability and promotion, patent infringement, contract disputes, employment disputes, and other matters relating to various claims that arise in the normal course of the Company’s business, such as demands to inspect Company records and correspondence from the SEC and other government officials. The Company currently believes that these ordinary course matters are not material to the consolidated financial statements of the business; however, the results of litigation and claims are inherently unpredictable. In February 2022, a civil securities lawsuit was filed in the U.S. District Court for the Northern District of California against the Company and certain of its executive officers, following the Company’s announcement on February 8, 2022 that it had received an Additional Information letter from the FDA indicating that the FDA did not believe the Company provided sufficient clinical evidence to support its 510(k) submission to add the treatment of sebaceous hyperplasia to the CellFX System’s current U.S. labeling, and the subsequent decline of the market price of the Company’s common stock. The lawsuit seeks class certification, unspecified damages, fees, costs, and expenses. Based upon currently available information, the Company believes the allegations in this case are without merit and will defend itself vigorously against them; however, litigation is inherently uncertain. The Company expects to file a motion to dismiss the case later this year, and an estimate of possible loss or range of loss, if any, cannot be made at this time.

Controlled Launch

Controlled Launch	3 Months Ended
	Mar. 31, 2022
Controlled Launch [Abstract]
Controlled Launch	9. Controlled Launch In February 2021, the Company received 510(k) clearance from the U.S. FDA for its proprietary CellFX System for dermatologic procedures requiring ablation and resurfacing of the skin. 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. Additionally, in June 2021 the Company received Health Canada approval for the CellFX System, which allows for marketing of the system in Canada for use in dermatological procedures requiring ablation and resurfacing of the skin for the reduction, removal, and/or clearance of cellular-based benign lesions. In February 2021, the Company commenced a controlled launch of the CellFX System in the United States and European Union via its CellFX Expectations Excelled Program (the “Controlled Launch”). Subsequent to receiving Health Canada approval in June 2021, the Company also commenced its Controlled Launch in Canada. As part of the Controlled Launch, the Company selected 70 physicians and their practices to be the first physician consultants to launch the CellFX System and the associated CellFX commercial procedures into their respective markets and geographies. According to the Controlled Launch program, the Company provides and sets up a CellFX System at each physician site and provides the physician with the necessary related products and components, free of charge, to complete the requirements of the Controlled Launch. Each CellFX System and any unused component products remain the property of the Company throughout the Controlled Launch. Each physician identifies and recruits up to 40 or 50 patients, depending on the contract, for participation in the Controlled Launch, performing a CellFX procedure on each of the appropriately selected patients. Under the Controlled Launch, the physician and their patients complete evaluation surveys about their experiences with the CellFX System and provide other information helpful to the Company. Upon completion of the procedures and the survey feedback, the physician earns either credits which can be used towards the future purchase of the CellFX System or, in some jurisdictions, fair payment for their time and effort completing the paperwork required under the Controlled Launch program. Credits earned and, if applicable, any other payments earned are limited to a maximum amount dependent on the number of surveys received by the Company. Upon completion of the Controlled Launch, each physician may choose to either enter into a purchase agreement with the Company, under which the physician may use the credits earned (or other payments earned, as applicable) towards the purchase of the already-delivered CellFX System, or the physician must return the CellFX System to the Company. As patient procedures and surveys are completed under the Controlled Launch program, the Company accrues the value of the credits earned, which are recorded in accrued expenses, with a corresponding charge to sales and marketing expense. During the three-month periods ended March 31, 2022 and 2021, the Company recorded $ 0.3 million and $ 0.1 million, respectively, of sales and marketing expense in relation to the Controlled Launch. During the three-month period ended March 31, 2022, certain consultants completed the Controlled Launch and entered into purchase agreements with the Company, whereby they used their credits or other earned payments towards the purchase of a CellFX System. Accordingly, approximately $ 0.3 million of the accrued liability related to the Controlled Launch was relieved and recognized as revenue on a non-cash basis as a result of these purchases. See Note 10 for additional detail of revenue transactions.

Revenue

Revenue	3 Months Ended
	Mar. 31, 2022
Revenue [Abstract]
Revenue	10. Revenue The Company recognizes revenue at a point in time when it satisfies performance obligations by transferring control of promised goods to its customers. The amount of revenue recognized is equal to the consideration which the Company is entitled to in exchange for the promised goods, excluding any amounts assessed by government authorities for taxes which might be collected from a customer. This consideration may include non-cash services performed, as is the case with revenue recognized in connection with the Controlled Launch. Total revenue recognized for the three-month period ended March 31, 2022 was $ 0.4 million, of which approximately $ 0.3 million was driven by the redemption of non-cash credits earned as part of the Controlled Launch, with the balance of approximately $ 0.1 million driven by cash purchases of cycle units (“CUs”) and one CellFX commercial console. Sales contracts often involve the sale and delivery of multiple performance obligations in the contract. Performance Obligations Systems consist of the CellFX console and its embedded software, handpieces, and disposable tips. The console is a physical piece of hardware used by the customer to perform patient procedures. Individually the console and software are not distinct, therefore the Company combines the console and embedded software to form one distinct system performance obligation. Payment for systems is generally due prior to shipment, and the system performance obligation is satisfied upon shipment of the system to the customer. Handpieces are attached to the console and used in conjunction with tips to perform patient procedures. Generally, upon initial sale of a system to a customer, the Company will include two handpieces. The handpiece has a shorter expected useful life than the console, and a customer can purchase additional handpieces when needed, as they are available for sale on a stand-alone basis. Payment for handpieces is generally due prior to shipment, and handpieces represent a distinct performance obligation which is satisfied either upon shipment, or upon delivery of the handpiece to the customer, depending on the specific contract. Tips are single-patient multiple-use products that come in different sizes, each of which are to be used for specific procedures. Tips are attached to the handpiece for use in patient procedures and, upon detachment from the handpiece, a tip cannot be reused, and it must be disposed of. Tips represent a distinct performance obligation which is satisfied either upon shipment, or upon delivery of the tips to the customer, depending on the specific contract. CUs are credits that authorize the customer to perform a procedure, or cycle. Each procedure requires a specific number of CUs, dependent upon type of tip used and procedure level selected. As the procedure is performed, the applicable number of CUs are decremented. When the customer’s balance of CUs on a specific system is depleted, the system will no longer function until the customer purchases additional CUs. Customers can purchase additional CUs via the Company’s CellFX Marketplace which is an online marketplace accessible directly from the CellFX System. Payment for CUs is due upon order placement and the CUs are immediately available for download to the console via CellFX CloudConnect. CUs represent a distinct performance obligation which is satisfied upon delivery of the CUs to CellFX CloudConnect. Shipping and handling activities are not considered to be a separate performance obligation. The Company’s standard commercial agreements generally include FOB shipping point terms. The Company has made an accounting policy election to account for shipping and handling costs as fulfillment costs because the shipping and handling activities occur after the customer obtains control of the product. Transaction Price When there are multiple performance obligations present, the total transaction price shall be allocated to each of the performance obligations based upon the relative SSPs of those performance obligations. The Company establishes SSPs based on multiple factors including, prices charged by the Company for similar offerings, product-specific business objectives, and the estimated cost to provide the performance obligation. However, upon the sale of a new CellFX System, all performance obligations are delivered concurrently and therefore there is no impact to revenue recognition timing, and the Company has determined allocations are not necessary. Should the customer purchase additional CUs, handpieces, or tips at a later time, those purchases will be made under separate purchase agreements, generally containing only one performance obligation each, therefore no price allocation is necessary in that scenario either. The Company evaluates the possible impact of variable consideration in determining the transaction price, in particular the possibility of future returns or credits. Sales agreements allow for a right of return only if the product does not conform to the agreed upon quality standards or if the product was shipped due to Company error. The Company anticipates such returns will be minimal and has made no adjustments to the transaction price for any estimated returns. The Company has made an accounting policy election to exclude from the measurement of the transaction price all taxes which are imposed on and concurrent with a specific revenue-producing transaction and collected by the entity from a customer. Controlled Launch Agreements In August 2021 the Company began to recognize revenue in relation to the conversion of Controlled Launch program participants into sales agreements (Note 9). These customers were already in possession of the system, handpiece, and tips. As such, upon execution of these purchase agreements, the Company recognized revenue on the agreements because control of all performance obligations were transferred at that time. These customers separately purchased CUs in order to operate the CellFX System and the revenue for these CUs was recognized upon delivery of the CUs to CellFX CloudConnect.

Segment Reporting

Segment Reporting	3 Months Ended
	Mar. 31, 2022
Segment Reporting [Abstract]
Segment Reporting	11. Segment Reporting The Company operates and manages the business as one reportable and operating segment. The Company’s Chief Executive Officer and Chief Financial Officer act as the chief operating decision makers (“CODM”) of the Company. The CODM reviews the results of the Company on a consolidated basis, however in making certain operating decisions and assessing performance, the CODM will additionally review the disaggregated revenue results by product and geography. All of the Company’s long-lived assets are based in the United States . Revenue by product consisted of the following (in thousands): Three-Month Periods Ended March 31, 2022 2021 Systems $ 367 $ — Cycle units 77 — Total consolidated revenue $ 444 $ — Revenue by geography consisted of the following (in thousands): Three-Month Periods Ended March 31, 2022 2021 North America $ 312 $ — Rest of World 132 — Total consolidated revenue $ 444 $ —

Related Party Transactions

Related Party Transactions	3 Months Ended
	Mar. 31, 2022
Related Party Transactions [Abstract]
Related Party Transactions	12. Related Party Transactions On March 11, 2021, the Company and Robert W. Duggan, majority stockholder and Board Chairman, entered into a Loan Agreement in connection with Mr. Duggan lending the principal sum of $ 41.0 million to the Company (Note 8). On June 30, 2021, the Company and Mr. Duggan entered into a Securities Purchase Agreement (Note 6), pursuant to which the Company issued and sold to Mr. Duggan 3,048,780 shares of the Company’s common stock, par value $ 0.001 per share, in a Private Placement, at a price per share of $ 16.40 , for an aggregate investment in the amount of $ 50.0 million. The shares were paid for through (i) the conversion of the $ 41 million aggregate principal amount under the Loan Agreement, together with all accrued and unpaid interest outstanding, owed to Mr. Duggan under the Loan Agreement by and between the Company and Mr. Duggan (Note 8), and (ii) additional cash in the amount of approximately $ 8.4 million. Upon the closing of this Private Placement and satisfaction of the outstanding debt, the Loan Agreement terminated, without any early termination fees or penalties being owed by the Company, and no additional amounts were owed to Mr. Duggan under the Loan Agreement.

Restructuring Charges

Restructuring Charges	3 Months Ended
	Mar. 31, 2022
Restructuring Charges [Abstract]
Restructuring Charges	13. Restructuring Charges On March 31, 2022, the Company initiated a plan to reduce its operating expenses, preserve financial resources, and focus its sales and marketing efforts on increasing utilization of CellFX Systems. The Company’s Board of Directors has approved changes to the Company’s commercial leadership, restructuring of its commercial field organization and reductions in other personnel and expenses across the Company. The Company announced a reduction in force effective as of March 31, 2022. The affected employees were offered separation benefits, including severance payments along with temporary healthcare coverage assistance. The Company has accrued a discrete restructuring related charge of $ 0.7 million on the condensed consolidated balance sheet as of March 31, 2022 and the related expenses are included within total cost and expenses on the condensed consolidated statement of operations for the three-month period ended March 31, 2022. This charge represents the total expected amount to be incurred in connection with the activity. The balance of $ 0.7 million is expected to be paid throughout 2022.

Subsequent Events

Subsequent Events	3 Months Ended
	Mar. 31, 2022
Subsequent Events [Abstract]
Subsequent Events	14. Subsequent Events On April 14, 2022, the Company announced that the Board of Directors approved a rights offering (the “2022 Rights Offering”) available to all holders of record of the Company’s common stock, par value $ 0.001 per share (the “Common Stock”) as of the close of market on April 25, 2022. The 2022 Rights Offering will be made through the distribution of non-transferable subscription rights to purchase up to an aggregate of $ 15,000,000 worth of units (“Units”), with each Unit consisting of (i) one share of Common Stock, and (ii) a warrant to purchase one share of Common Stock (the “Warrants”), in a public offering that commenced on May 4, 2022. The subscription price for each Unit will be equal to the lesser of (i) $ 3.72 , the closing price of the Common Stock on April 13, 2022, and (ii) the volume weighted average price of the Common Stock for the five trading day period through and including the expiration date of the offering, May 23, 2022. The 2022 Rights Offering includes an over-subscription right to permit each rights holder that exercises its basic subscription rights in full to purchase additional Units that remain unsubscribed at the expiration of the offering, subject to availability on a pro rata basis.

Summary Of Significant Accoun_2

Summary Of Significant Accounting Policies (Policy)	3 Months Ended
	Mar. 31, 2022
Summary Of Significant Accounting Policies [Abstract]
Going Concern	Going Concern As of March 31, 2022, the Company had an accumulated deficit of $ 253.5 million, cash outflows from operations of $ 15.6 million for the three months then ended, cash and cash equivalents of $ 12.7 million and a net loss of $ 17.3 million. The Company has recently begun to generate revenue from product sales, but anticipates net losses for the next several years or until it can generate substantial product revenue and achieve profitability. Based on the Company’s current operating plan, the Company has determined that, with its current financial resources, the Company would be able to operate through the second quarter of 2022. As the Company’s operating plan does not allow the Company to operate for a period of twelve months from the date the condensed consolidated financial statements are issued without additional financing, based on the Accounting Standards Codification (“ASC”) 205-40, Presentation of Financial Statements – Going Concern , the Company is required to disclose that substantial doubt regarding the Company’s ability to continue as a going concern exists. This evaluation initially cannot take into consideration the potential mitigating effects of plans that have not been fully implemented as of the date the financial statements are issued. To continue to fund the operations of the Company beyond this time period, management has developed plans, which primarily consist of raising additional capital through some combination of public or private equity offerings, debt financings, the Company’s at-the-market equity offering program, and/or potential new collaborations. Refer to Note 14 for details of a rights offering announced on April 14, 2022 to raise additional capital. There is no assurance, however, that any additional financing or any revenue-generating collaboration will be available when needed or that management of the Company will be able to obtain financing or enter into a collaboration on terms acceptable to the Company. The accompanying condensed 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 condensed 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.
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 , 2021 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 (the “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, 2021 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, 2022, 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, inventory valuation, warranty obligations, 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 The Company’s significant accounting policies are described in the Company’s Annual Report on Form 10-K for the year ended December 31, 2021. The Company continually evaluates the accounting policies and estimates used in preparing the consolidated financial statements. There have been no material changes to the Company’s significant accounting policies during the three-month period ended March 31, 2022, as compared to the significant accounting policies described in the Company’s Annual Report on Form 10-K for the year ended December 31, 2021.
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, 2022, there is no reduction to the balance of inventory for excessive and obsolete inventory.
Revenue From Contracts with Customers	Revenue from Contracts with Customers The Company recognizes revenue at a point in time when it satisfies performance obligations by transferring control of promised goods to its customers. The amount of revenue recognized is equal to the consideration which the Company is entitled to in exchange for the promised goods, excluding any amounts assessed by government authorities for taxes which might be collected from a customer. Sales contracts often involve the sale and delivery of multiple products, each of which typically represent a separate performance obligation in the contract. While the Company sells these products on a stand-alone basis at their respective stand-alone selling prices (“SSP”), initial customer contracts will primarily involve the bundling of products which will be delivered concurrently to the customer. In such instances, the full consideration of the contract will be recognized upon shipment of the products. The Company generally requires receipt of full payment prior to shipment, however, from time to time, payment terms may be extended to customers upon which the Company will perform a necessary credit evaluation to ensure future collectability of the outstanding balance. The Company does not believe any portion of the outstanding accounts receivable balance to be uncollectible, and has therefore not recorded an allowance against the accounts receivable balance. Refer to Note 10 for further details.
Product Warranty	Product Warranty The Company provides a standard warranty on eligible products which provides the customer assurances that the products comply with the agreed-upon specifications. The standard warranty does not provide any services in addition to those assurances. The Company accrues a warranty reserve for products sold based upon the best estimate of the nature, frequency, and costs of future claims. These estimates are inherently uncertain given the short history of sales, and changes to the historical or projected warranty experience may cause material changes to the warranty reserve in the future. The warranty reserve is included within Accrued expenses on the consolidated balance sheets. Warranty expense is recorded as a component of Cost of Revenues in the consolidated statements of operations and comprehensive loss . Warranty accrual activity consisted of the following for the three-month periods ended March 31, 2022 and 2021 (in thousands): Three-Month Periods Ended March 31, 2022 2021 Beginning balance $ 80 $ — Add: Accruals for warranties issued during the period 17 — Less: Settlements made during the period — — Ending balance $ 97 $ —
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, 2022 2021 Common stock warrants — 600 Common stock options 5,558,884 5,476,636 Restricted stock units — 111,305 Total 5,558,884 5,588,541
Recent Accounting Pronouncement	Recent Accounting Pronouncements There are no recent accounting pronouncements that impact the Company’s operations.

Summary Of Significant Accoun_3

Summary Of Significant Accounting Policies (Tables)	3 Months Ended
	Mar. 31, 2022
Summary Of Significant Accounting Policies [Abstract]
Schedule Of Warranty Accrual Activity	Three-Month Periods Ended March 31, 2022 2021 Beginning balance $ 80 $ — Add: Accruals for warranties issued during the period 17 — Less: Settlements made during the period — — Ending balance $ 97 $ —
Anti-Dilutive Shares Excluded From Computation Of Diluted Net Loss Per Share	Three-Month Periods Ended March 31, 2022 2021 Common stock warrants — 600 Common stock options 5,558,884 5,476,636 Restricted stock units — 111,305 Total 5,558,884 5,588,541

Fair Value Of Financial Instr_2

Fair Value Of Financial Instruments (Tables)	3 Months Ended
	Mar. 31, 2022
Fair Value Of Financial Instruments [Abstract]
Fair Value Of Financial Assets Measured On A Recurring Basis	March 31, 2022 December 31, 2021 Assets Classification Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Money market funds Cash and cash equivalents $ 2,675 $ — $ — $ 2,675 $ 23,675 $ — $ — $ 23,675 U.S. Treasury securities Cash and cash equivalents — 5,000 — 5,000 — — — — Total assets measured at fair value $ 2,675 $ 5,000 $ — $ 7,675 $ 23,675 $ — $ — $ 23,675

Balance Sheet Components (Table

Balance Sheet Components (Tables)	3 Months Ended
	Mar. 31, 2022
Balance Sheet Components [Abstract]
Schedule Of Inventory	March 31, December 31, 2022 2021 Raw materials $ 3,073 $ 2,010 Work in process 1,676 1,371 Finished goods 2,738 2,443 Total inventory $ 7,487 $ 5,824
Schedule Of Property And Equipment, Net	March 31, December 31, 2022 2021 Leasehold improvements $ 2,519 $ 2,519 Laboratory equipment 1,310 1,019 Furniture, fixtures, and equipment 932 932 Software 264 202 Construction in progress 85 186 5,110 4,858 Less: Accumulated depreciation ( 2,556 ) ( 2,396 ) Property and equipment, net $ 2,554 $ 2,462
Schedule Of Intangible Assets, Net	March 31, December 31, 2022 2021 Acquired patents and licenses $ 7,985 $ 7,985 Less: Accumulated amortization ( 4,935 ) ( 4,769 ) Intangible assets, net $ 3,050 $ 3,216
Schedule Of Amortization Of Intangible Assets	Year Ending December 31: 2022 (remaining 9 months) $ 499 2023 665 2024 665 2025 665 2026 556 Total $ 3,050
Schedule Of Accrued Expenses	March 31, December 31, 2022 2021 Compensation $ 3,588 $ 2,932 Controlled launch (Note 9) 414 534 Clinical trial costs and fees 121 245 Professional fees 89 85 Warranty 97 80 Other 295 513 Total accrued expenses $ 4,604 $ 4,389

Stockholders' Equity And Stoc_2

Stockholders' Equity And Stock-Based Compensation (Tables)	3 Months Ended
	Mar. 31, 2022
Stockholders' Equity [Line Items]
Schedule Of Stock-Based Compensation Expense	Three-Month Periods Ended March 31, 2022 2021 Cost of revenues $ 90 $ — Research and development 457 3,166 Sales and marketing 454 1,761 General and administrative 1,006 2,038 Total stock-based compensation expense $ 2,007 $ 6,965
Summary Of Stock-Based Compensation Expense By Type	Three-Month Periods Ended March 31, 2022 2021 Time-based options $ 1,807 $ 1,770 Performance options 84 5,141 ESPP 116 54 Total stock-based compensation expense $ 2,007 $ 6,965
Stock Options [Member]
Stockholders' Equity [Line Items]
Summary Of Stock Option Activity	Stock Options Outstanding Weighted Number average of shares exercise price Balances — December 31, 2021 5,996,813 $ 15.77 Options granted 381,300 Options exercised - Options canceled ( 819,229 ) Options expired - Balances — March 31, 2022 5,558,884 $ 15.62 Exercisable — March 31, 2022 3,670,055 $ 15.99
Schedule Of Fair Value Of Employee Stock Options	Three-Month Periods Ended March 31, 2022 2021 Expected term in years 6.3 - 6.8 6.1 Expected volatility 83 % 78 % Risk-free interest rate 1.9 % 1.0 - 1.1 % Dividend yield — —
Time-Based Options [Member]
Stockholders' Equity [Line Items]
Summary Of Stock Option Activity	Stock Options Outstanding Weighted Number average of shares exercise price Balances — December 31, 2021 4,796,716 $ 16.44 Options granted 231,300 Options exercised - Options canceled ( 203,354 ) Options expired - Balances — March 31, 2022 4,824,662 $ 15.94 Exercisable — March 31, 2022 3,367,508 $ 16.39
Performance Shares [Member]
Stockholders' Equity [Line Items]
Summary Of Stock Option Activity	Stock Options Outstanding Weighted Number average of shares exercise price Balances — December 31, 2021 1,200,097 $ 13.11 Options granted 150,000 Options exercised - Options canceled ( 615,875 ) Options expired - Balances — March 31, 2022 734,222 $ 13.51 Exercisable — March 31, 2022 302,547 $ 11.48
2017 Employee Stock Purchase Plan [Member]
Stockholders' Equity [Line Items]
Schedule Of Fair Value Of Employee Stock Options	Three-Month Periods Ended March 31, 2022 2021 Expected term in years 0.5 - 1.0 0.5 - 1.0 Expected volatility 83 % 91 % Risk-free interest rate 0.6 - 0.9 % 0.07 - 0.08 % Dividend yield — —

Commitments And Contingencies (

Commitments And Contingencies (Tables)	3 Months Ended
	Mar. 31, 2022
Commitments And Contingencies [Abstract]
Schedule Of Maturity Lease Payments	Year Ending December 31: 2022 (remaining 9 months) $ 1,359 2023 1,845 2024 1,910 2025 1,977 2026 2,046 Thereafter 6,191 Total lease payments 15,328 Less imputed interest ( 4,696 ) Total lease liabilities $ 10,632
Schedule Of Supplemental Lease Information	Other supplemental information: Current operating lease liabilities $ 799 Non-current operating lease liabilities 9,833 Total lease liabilities $ 10,632 Cash paid for operating lease liabilities $ 447 Weighted average remaining lease term 7.59 Weighted average discount rate 10 %

Segment Reporting (Tables)

Segment Reporting (Tables)	3 Months Ended
	Mar. 31, 2022
Segment Reporting [Abstract]
Schedule Of Revenue By Product And Geographic Location	Revenue by product consisted of the following (in thousands): Three-Month Periods Ended March 31, 2022 2021 Systems $ 367 $ — Cycle units 77 — Total consolidated revenue $ 444 $ — Revenue by geography consisted of the following (in thousands): Three-Month Periods Ended March 31, 2022 2021 North America $ 312 $ — Rest of World 132 — Total consolidated revenue $ 444 $ —

Summary Of Significant Accoun_4

Summary Of Significant Accounting Policies (Narrative) (Details) - USD ($)	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Summary Of Significant Accounting Policies [Abstract]
Accumulated deficit	$ (253,473,000)		$ (236,200,000)
Cash used in operating activities	(15,594,000)	$ (11,687,000)
Cash, cash equivalents, and investments	12,700,000
Net loss	(17,273,000)	$ (18,639,000)
Inventory valuation reserve	$ 0

Summary Of Significant Accoun_5

Summary Of Significant Accounting Policies (Schedule Of Warranty Accrual Activity) (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2022USD ($)
Summary Of Significant Accounting Policies [Abstract]
Beginning balance	$ 80
Add: Accruals for warranties issued during the period	17
Ending balance	$ 97

Summary Of Significant Accoun_6

Summary Of Significant Accounting Policies (Anti-Dilutive Shares Excluded From Computation Of Diluted Net Loss Per Share) (Details) - shares	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total	5,558,884	5,588,541
Common Stock Warrants [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total		600
Stock Options [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total	5,558,884	5,476,636
Restricted Stock Units [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total		111,305

Fair Value Of Financial Instr_3

Fair Value Of Financial Instruments (Narrative) (Details) - USD ($)	Mar. 31, 2022	Dec. 31, 2021
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	Mar. 31, 2022	Dec. 31, 2021
ASSETS
Total assets measured at fair value	$ 7,675	$ 23,675
Money Market Funds [Member]
ASSETS
Total cash and cash equivalents	2,675	23,675
US Treasury Securities [Member]
ASSETS
Total cash and cash equivalents	5,000
Level 1 [Member]
ASSETS
Total assets measured at fair value	2,675	23,675
Level 1 [Member] | Money Market Funds [Member]
ASSETS
Total cash and cash equivalents	2,675	$ 23,675
Level 2 [Member]
ASSETS
Total assets measured at fair value	5,000
Level 2 [Member] | US Treasury Securities [Member]
ASSETS
Total cash and cash equivalents	$ 5,000

Balance Sheet Components (Narra

Balance Sheet Components (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Balance Sheet Components [Abstract]
Depreciation expense	$ 160	$ 113
Intangible asset useful life	12 years
Restructuring charges liability	$ 700

Balance Sheet Components (Sched

Balance Sheet Components (Schedule Of Inventory) (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Balance Sheet Components [Abstract]
Raw materials	$ 3,073	$ 2,010
Work in process	1,676	1,371
Finished goods	2,738	2,443
Total inventory	$ 7,487	$ 5,824

Balance Sheet Components (Sch_2

Balance Sheet Components (Schedule Of Property And Equipment, Net) (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 5,110	$ 4,858
Less: Accumulated depreciation	(2,556)	(2,396)
Property and equipment, net	2,554	2,462
Leasehold Improvements [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	2,519	2,519
Laboratory Equipment [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	1,310	1,019
Furniture, Fixtures, And Equipment [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	932	932
Software [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	264	202
Construction In Progress [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 85	$ 186

Balance Sheet Components (Sch_3

Balance Sheet Components (Schedule Of Intangible Assets, Net) (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Balance Sheet Components [Abstract]
Acquired patents and licenses	$ 7,985	$ 7,985
Less: Accumulated amortization	(4,935)	(4,769)
Intangible assets, net	$ 3,050	$ 3,216

Balance Sheet Components (Sch_4

Balance Sheet Components (Schedule Of Amortization Of Intangible Assets) (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Balance Sheet Components [Abstract]
2022 (remaining 9 months)	$ 499
2023	665
2024	665
2025	665
2026	556
Intangible assets, net	$ 3,050	$ 3,216

Balance Sheet Components (Sch_5

Balance Sheet Components (Schedule Of Accrued Expenses) (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Balance Sheet Components [Abstract]
Compensation	$ 3,588	$ 2,932
Controlled launch (Note 9)	414	534
Clinical trial fees and costs	121	245
Professional fees	89	85
Warranty	97	80
Other	295	513
Accrued expenses	$ 4,604	$ 4,389

Goodwill (Narrative) (Details)

Goodwill (Narrative) (Details)	3 Months Ended	12 Months Ended
	Mar. 31, 2022USD ($)	Dec. 31, 2021USD ($)	Dec. 31, 2014USD ($)entity
Business Acquisition, Equity Interests Issued or Issuable [Line Items]
Goodwill	$ 2,791,000	$ 2,791,000
Goodwill impairment	$ 0	$ 0
Series of Individually Immaterial Business Acquisitions [Member]
Business Acquisition, Equity Interests Issued or Issuable [Line Items]
Number of purchased companies | entity			3
Aggregate consideration			$ 5,500,000
Goodwill			$ 2,800,000

Stockholders' Equity And Stoc_3

Stockholders' Equity And Stock-Based Compensation (Narrative) (Details) - USD ($)

Jan. 01, 2022

Jun. 30, 2021

Feb. 25, 2021

Feb. 05, 2021

Feb. 04, 2021

Jul. 31, 2021

Mar. 31, 2021

Feb. 28, 2021

Feb. 04, 2021

Mar. 31, 2022

Mar. 31, 2021

Apr. 14, 2022

Dec. 31, 2021

May 31, 2021

Jun. 30, 2020

Nov. 30, 2017

Dec. 31, 2016

Dec. 31, 2014

Stockholders' Equity [Line Items]

Preferred stock, shares authorized

50,000,000

50,000,000

Preferred stock, par value

$ 0.001

$ 0.001

Preferred stock, shares outstanding

0

0

Common stock, shares authorized

500,000,000

500,000,000

Common stock, par value

$ 0.001

$ 0.001

Proceeds from issuance of common stock

$ 4,892,000

Common stock, shares issued

29,802,000

29,716,000

Total stock-based compensation expense

$ 2,007,000

6,965,000

2017 Employee Stock Purchase Plan [Member]

Stockholders' Equity [Line Items]

Common stock, shares issued

85,844

Shares authorized

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

563,252

2017 Inducement Equity Incentive Plan [Member]

Stockholders' Equity [Line Items]

Term period

10 years

Shares authorized

1,000,000

1,000,000

Shares available for grant

775,066

2017 Plan [Member]

Stockholders' Equity [Line Items]

Term period

10 years

Shares authorized

1,500,000

Additional common stock reserved for issuance

1,188,657

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

2,339,229

Rights Offering [Member]

Stockholders' Equity [Line Items]

Price per share

$ 7.01

Warrants/rights outstanding

0

Net proceeds

$ 4,500,000

Period the warrants are exercisable after issuance

30 days

Percentage requirement for warrant redemption

200.00%

Warrants exercised

5,139

636,432

Redemption per warrant

$ 0.01

$ 0.01

Period of time required for redemption of warrants

10 days

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

$ 1,006,000

2,038,000

Research And Development [Member]

Stockholders' Equity [Line Items]

Total stock-based compensation expense

457,000

3,166,000

Stock Options [Member]

Stockholders' Equity [Line Items]

Total stock-based compensation expense

$ 0

4,200,000

Time-Based Options [Member]

Stockholders' Equity [Line Items]

Total stock-based compensation expense

1,807,000

1,770,000

Performance Shares [Member]

Stockholders' Equity [Line Items]

Total stock-based compensation expense

$ 84,000

$ 5,141,000

Subsequent Event [Member]

Stockholders' Equity [Line Items]

Common stock, par value

$ 0.001

Private Placement [Member]

Stockholders' Equity [Line Items]

Common stock, par value

$ 0.001

Proceeds from issuance of common stock

$ 8,400,000

Chairman, Robert W. Duggan [Member] | Private Placement [Member]

Stockholders' Equity [Line Items]

Shares sold

3,048,780

Common stock, par value

$ 0.001

Price per share

$ 16.40

Aggregate issuance costs

$ 41,000,000

Proceeds from issuance of common stock

$ 8,400,000

Net proceeds

$ 50,000,000

Common stock, shares issued

3,048,780

Directors [Member] | Private Placement [Member]

Stockholders' Equity [Line Items]

Proceeds from issuance of common stock

$ 8,400,000

Common Stock [Member]

Stockholders' Equity [Line Items]

Shares issued

158,000

Warrants exercised

40,000

Common Stock [Member] | Rights Offering [Member]

Stockholders' Equity [Line Items]

Warrants/rights outstanding

641,571

Robert W. Duggan [Member] | Private Placement [Member]

Stockholders' Equity [Line Items]

Price per share

$ 16.40

MDB Capital Group, LLC [Member] | Initial Public Offering [Member]

Stockholders' Equity [Line Items]

Price per share

$ 5

Warrants/rights outstanding

0

Number of common shares called by issuance of warrants

574,985

Common stock received from rights/warrants exercised

68,958

68,958

Warrants exercised

85,385

Exercisable period of warrants or rights

5 years

MDB Capital Group, LLC [Member] | Private Placement [Member]

Stockholders' Equity [Line Items]

Price per share

$ 2.67

Number of common shares called by issuance of warrants

299,625

Common stock received from rights/warrants exercised

40,563

40,563

Warrants exercised

45,638

Exercisable period of warrants or rights

7 years

Stifel, Nicolaus & Company Inc. [Member] | At the Market Offering [Member]

Stockholders' Equity [Line Items]

Value of warrants/rights

$ 60,000,000

$ 60,000,000

Warrants/rights outstanding

288,490

288,490

Exercise price of warrants/rights

$ 27.73

$ 27.73

Net proceeds

$ 7,400,000

Stockholders' Equity And Stoc_4

Stockholders' Equity And Stock-Based Compensation (Summary Of Stock Option Activity) (Details) - Stock Options [Member]	3 Months Ended
	Mar. 31, 2022$ / sharesshares
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Beginning Balance, Number of shares	5,996,813
Options granted, Number of shares	381,300
Options canceled, Number of shares	(819,229)
Ending Balance, Number of shares	5,558,884
Exercisable, Number of shares	3,670,055
Beginning Balance, Weighted average exercise price per share | $ / shares	$ 15.77
Ending Balance, Weighted average exercise price per share | $ / shares	15.62
Exercisable, Weighted average exercise price per share | $ / shares	$ 15.99

Stockholders' Equity And Stoc_5

Stockholders' Equity And Stock-Based Compensation (Summary Of Time-Based Stock Option Activity) (Details) - Time-Based Options [Member] - 2015, 2017 And Inducement Plans [Member]	3 Months Ended
	Mar. 31, 2022$ / sharesshares
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Beginning Balance, Number of shares	4,796,716
Options granted, Number of shares	231,300
Options canceled, Number of shares	(203,354)
Ending Balance, Number of shares	4,824,662
Exercisable, Number of shares	3,367,508
Beginning Balance, Weighted average exercise price per share | $ / shares	$ 16.44
Ending Balance, Weighted average exercise price per share | $ / shares	15.94
Exercisable, Weighted average exercise price per share | $ / shares	$ 16.39

Stockholders' Equity And Stoc_6

Stockholders' Equity And Stock-Based Compensation (Summary Of Performance Option Activity) (Details) - Performance Shares [Member] - 2017 And Inducement Plans [Member]	3 Months Ended
	Mar. 31, 2022$ / sharesshares
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Beginning Balance, Number of shares	1,200,097
Options granted, Number of shares	150,000
Options canceled, Number of shares	(615,875)
Ending Balance, Number of shares	734,222
Exercisable, Number of shares	302,547
Beginning Balance, Weighted average exercise price per share | $ / shares	$ 13.11
Ending Balance, Weighted average exercise price per share | $ / shares	13.51
Exercisable, Weighted average exercise price per share | $ / shares	$ 11.48

Stockholders' Equity And Stoc_7

Stockholders' Equity And Stock-Based Compensation (Schedule Of Fair Value Of Employee Stock Options) (Details)	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Stock Options [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expected term in years		6 years 1 month 6 days
Expected volatility	83.00%	78.00%
Risk-free interest rate	1.90%
Stock Options [Member] | Minimum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expected term in years	6 years 3 months 18 days
Risk-free interest rate		1.00%
Stock Options [Member] | Maximum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expected term in years	6 years 9 months 18 days
Risk-free interest rate		1.10%
2017 Employee Stock Purchase Plan [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expected volatility	83.00%	91.00%
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	0.60%	0.07%
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	0.90%	0.08%

Stockholders' Equity And Stoc_8

Stockholders' Equity And Stock-Based Compensation (Schedule Of Stock-Based Compensation Expense) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total stock-based compensation expense	$ 2,007	$ 6,965
Cost Of Revenues [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total stock-based compensation expense	90
Research And Development [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total stock-based compensation expense	457	3,166
Sales And Marketing [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total stock-based compensation expense	454	1,761
General And Administrative [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total stock-based compensation expense	$ 1,006	$ 2,038

Stockholders' Equity And Stoc_9

Stockholders' Equity And Stock-Based Compensation (Summary Of Stock-Based Compensation Expense By Type) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Total stock-based compensation expense	$ 2,007	$ 6,965
Time-Based Options [Member]
Total stock-based compensation expense	1,807	1,770
Performance Shares [Member]
Total stock-based compensation expense	84	5,141
ESPP [Member]
Total stock-based compensation expense	$ 116	$ 54

Research Grants And Agreements

Research Grants And Agreements (Narrative) (Details) - USD ($) $ in Thousands	1 Months Ended		3 Months Ended
	May 31, 2021	Mar. 31, 2021	Mar. 31, 2022	Mar. 31, 2021
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Research and development expense			$ 6,769	$ 9,063
Sponsored Research Agreement ("SRA") [Member]
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Research and development expense			100	$ 0
Research and development expense payable			$ 100
ODURF [Member]
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Research and development expense	$ 300
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

Commitments And Contingencies_2

Commitments And Contingencies (Narrative) (Details)	May 13, 2021USD ($)	Jun. 30, 2021USD ($)$ / shares	Mar. 31, 2022USD ($)	Mar. 31, 2021USD ($)	Mar. 11, 2021USD ($)	May 31, 2019ft²	Jan. 31, 2017ft²	Dec. 31, 2014$ / shares
Commitments and Contingencies [Line Items]
Director and officer insurance premium payable	$ 2,600,000
Insurance down payment	700,000
Financed insurance policy balance	$ 1,900,000
Financed insurance policy interest rate	3.69%
Rent expense, including common area maintenance charges			$ 500,000	$ 500,000
MDB Capital Group, LLC [Member] | Private Placement [Member]
Commitments and Contingencies [Line Items]
Price per share | $ / shares								$ 2.67
Robert W. Duggan [Member] | Private Placement [Member]
Commitments and Contingencies [Line Items]
Principal sum		$ 41,000,000
Accrued interest		$ 600,000
Price per share | $ / shares		$ 16.40
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
Debt instrument, quarterly interest rate					5.00%
Accrued interest				$ 100,000

Commitments And Contingencies_3

Commitments And Contingencies (Schedule Of Maturity Lease Payments) (Details) $ in Thousands	Mar. 31, 2022USD ($)
Commitments And Contingencies [Abstract]
2022 (remaining 9 months)	$ 1,359
2023	1,845
2024	1,910
2025	1,977
2026	2,046
Thereafter	6,191
Total lease payments	15,328
Less imputed interest	(4,696)
Total lease liabilities	$ 10,632

Commitments And Contingencies_4

Commitments And Contingencies (Schedule Of Supplemental Lease Information) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Dec. 31, 2021
Commitments And Contingencies [Abstract]
Current operating lease liabilities	$ 799	$ 774
Non-current operating lease liabilities	9,833	$ 10,040
Total lease liabilities	10,632
Cash paid for operating lease liabilities	$ 447
Weighted average remaining lease term	7 years 7 months 2 days
Weighted average discount rate	10.00%

Controlled Launch (Narrative) (

Controlled Launch (Narrative) (Details) $ in Millions	3 Months Ended
	Mar. 31, 2022USD ($)item	Mar. 31, 2021USD ($)
Controlled Launch [Abstract]
Number of KOLs | item	70
Number of patients participating in procedure	40 or 50
Program expenses	$ 0.3	$ 0.1
Revenue recognized	$ 0.3

Revenue (Narrative) (Details)

Revenue (Narrative) (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2022USD ($)
Disaggregation of Revenue [Line Items]
Consolidated revenue	$ 444
Redemption Of Non-Cash Credits [Member]
Disaggregation of Revenue [Line Items]
Consolidated revenue	300
Cash Purchases [Member]
Disaggregation of Revenue [Line Items]
Consolidated revenue	$ 100

Segment Reporting (Schedule Of

Segment Reporting (Schedule Of Revenue By Product And Geographic Location) (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2022USD ($)segment
Revenues from External Customers and Long-Lived Assets [Line Items]
Number of reportable segments | segment	1
Number of operating segments | segment	1
Consolidated revenue	$ 444
Systems Products [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Consolidated revenue	367
Cycle Units Products [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Consolidated revenue	77
North America [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Consolidated revenue	312
Rest Of World [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Consolidated revenue	$ 132

Related Party Transactions (Nar

Related Party Transactions (Narrative) (Details) - USD ($) $ / shares in Units, $ in Thousands	Jun. 30, 2021	Jul. 31, 2021	Feb. 04, 2021	Mar. 31, 2021	Apr. 14, 2022	Mar. 31, 2022	Dec. 31, 2021	Mar. 11, 2021	Jun. 30, 2020	Dec. 31, 2016	Dec. 31, 2014
Related Party Transaction [Line Items]
Common stock, shares issued						29,802,000	29,716,000
Common stock, par value						$ 0.001	$ 0.001
Proceeds from issuance of common stock				$ 4,892
Private Placement [Member]
Related Party Transaction [Line Items]
Common stock, par value											$ 0.001
Proceeds from issuance of common stock	$ 8,400
Chairman, Robert W. Duggan [Member] | Private Placement [Member]
Related Party Transaction [Line Items]
Common stock, shares issued	3,048,780
Common stock, par value	$ 0.001
Price per share	$ 16.40
Aggregate issuance costs	$ 41,000
Net proceeds	$ 50,000
Proceeds from issuance of common stock		$ 8,400
MDB Capital Group, LLC [Member] | Initial Public Offering [Member]
Related Party Transaction [Line Items]
Price per share										$ 5
Warrants/rights outstanding						0
MDB Capital Group, LLC [Member] | Private Placement [Member]
Related Party Transaction [Line Items]
Price per share											$ 2.67
Robert W. Duggan [Member]
Related Party Transaction [Line Items]
Due to related parties								$ 41,000
Robert W. Duggan [Member] | Private Placement [Member]
Related Party Transaction [Line Items]
Price per share	$ 16.40
Subsequent Event [Member]
Related Party Transaction [Line Items]
Common stock, par value					$ 0.001
Rights Offering [Member]
Related Party Transaction [Line Items]
Price per share									$ 7.01
Net proceeds			$ 4,500
Warrants/rights outstanding						0
Rights Offering [Member] | Common Stock [Member]
Related Party Transaction [Line Items]
Warrants/rights outstanding									641,571

Restructuring Charges (Narrativ

Restructuring Charges (Narrative) (Details) $ in Millions	Mar. 31, 2022USD ($)
Restructuring Charges [Abstract]
Restructuring charges liability	$ 0.7

Subsequent Events (Narrative) (

Subsequent Events (Narrative) (Details)	Apr. 14, 2022USD ($)shares / item$ / shares	Mar. 31, 2022$ / shares	Dec. 31, 2021$ / shares	Dec. 31, 2014$ / shares
Subsequent Event [Line Items]
Common stock, par value		$ 0.001	$ 0.001
Common shares per unit | shares / item	1
Common shares per warrant | shares / item	1
Subsequent Event [Member]
Subsequent Event [Line Items]
Common stock, par value	$ 0.001
Common stock subscriptions | $	$ 15,000,000
Share price	$ 3.72
Private Placement [Member]
Subsequent Event [Line Items]
Common stock, par value				$ 0.001