Law Offices of Howard G. Smith reminds investors of the upcoming April 18, 2022 deadline to file a lead plaintiff motion in the case filed on behalf of investors who purchased Pulse Biosciences, Inc. (“Pulse” or the “Company”) (NASDAQ: PLSE) securities between January 12, 2021 and February 7, 2022, inclusive (the “Class Period”).
Investors suffering losses on their Pulse investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to email@example.com.
In October 2020, Pulse initiated its investigational device exemption (“IDE”) study to evaluate the treatment of sebaceous hyperplasia lesions using the CellFX System.
On February 8, 2022, before the market opened, Pulse announced that the U.S. Food and Drug Administration (“FDA”) concluded there was insufficient clinical evidence to support the Company’s 510(k) submission to expand the label for the CellFX System to treat sebaceous hyperplasia. Among other things, the FDA found “that the Company had not met the primary endpoints of the sebaceous hyperplasia FDA-approved IDE study.”
On this news, the Company’s share price fell $3.74, or over 34%, to close at $7.12 per share on February 8, 2022, on unusually heavy trading volume.
The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (1) that the IDE study evaluating the use of the CellFX System to treat sebaceous hyperplasia lesions failed to meet its primary endpoints; (2) that, as a result, there was a substantial risk that the FDA would reject Pulse’s 510(k) submission seeking to expand the label for the CellFX System to treat sebaceous hyperplasia lesions; and (3) that, as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
If you purchased or otherwise acquired Pulse securities during the Class Period, you may move the Court no later than April 18, 2022 to ask the Court to appoint you as lead plaintiff if you meet certain legal requirements. To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. If you wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020, by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to firstname.lastname@example.org, or visit our website at www.howardsmithlaw.com.
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