• In early February 2026, Pulse Biosciences reported late-breaking first-in-human data for its nPulse Cardiac Catheter, showing high atrial fibrillation treatment success, short procedure times, and a low rate of serious adverse events, presented at the 31st Annual AF Symposium in Boston.
• The early 6- and 12-month outcomes, including very high procedural success in evaluable patients, highlight how nanosecond pulse field ablation may become a differentiated option within catheter-based atrial fibrillation care.
• We will now examine how these early feasibility results, especially the very low rate of serious adverse events, could influence Pulse Biosciences’ investment narrative.

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Pulse Biosciences Investment Narrative Recap

To own Pulse Biosciences, you need to believe its nanosecond pulse field ablation platform can earn a durable role in thyroid and atrial fibrillation care, despite today’s tiny revenue base and sizable losses. The new nPulse Cardiac Catheter data strengthen the near term AF catalyst by pairing high procedural success with a very low serious adverse event rate, but they also sharpen the key risk that larger, longer studies must confirm these outcomes before meaningful commercial adoption.

Among recent developments, the December 2025 FDA IDE approval for the NANOPULSE AF catheter study looks most relevant. It provides a formal US clinical pathway that now sits alongside the encouraging 150 patient feasibility data from Europe, tying the AF Symposium results directly into the company’s next milestones in electrophysiology and how quickly, or slowly, they might translate intensive cardiac R&D spending into future product revenue.

Yet against these promising AF results, investors should still pay close attention to how ongoing trial costs and a very small current revenue base could...

Pulse Biosciences' narrative projects $29.7 million revenue and $3.9 million earnings by 2028. This requires 601.5% yearly revenue growth and a $78.6 million earnings increase from $-74.7 million today.

Uncover how Pulse Biosciences' forecasts yield a $22.00 fair value, a 8% downside to its current price.

Exploring Other Perspectives

Before this AF data, the most optimistic analysts were already modeling revenue jumping to about US$42.3 million by 2029, which shows just how differently you and other investors might weigh today’s strong feasibility results against the execution, reimbursement and dilution risks ahead.

Explore 2 other fair value estimates on Pulse Biosciences - why the stock might be worth as much as $22.00!

Build Your Own Pulse Biosciences Narrative

Disagree with existing narratives? Create your own in under 3 minutes - extraordinary investment returns rarely come from following the herd.

• A great starting point for your Pulse Biosciences research is our analysis highlighting 1 key reward and 3 important warning signs that could impact your investment decision.
• Our free Pulse Biosciences research report provides a comprehensive fundamental analysis summarized in a single visual - the Snowflake - making it easy to evaluate Pulse Biosciences' overall financial health at a glance.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.