Robbins Geller Rudman & Dowd LLP announces that purchasers of Pulse Biosciences, Inc. (NASDAQ: PLSE) securities between January 12, 2021 and February 7, 2022, inclusive (the “Class Period”) have until April 18, 2022 to seek appointment as lead plaintiff in Ngosiok v. Pulse Biosciences, Inc., No. 22-cv-00959 (N.D. Cal.). Commenced on February 16, 2022, the Pulse Biosciences class action lawsuit charges Pulse Biosciences as well as certain of its top executives with violations of the Securities Exchange Act of 1934.
If you suffered significant losses and wish to serve as lead plaintiff of the Pulse Biosciences class action lawsuit, please provide your information by clicking here. You can also contact attorney J.C. Sanchez of Robbins Geller by calling 800/449-4900 or via e-mail at jsanchez@rgrdlaw.com. Lead plaintiff motions for the Pulse Biosciences class action lawsuit must be filed with the court no later than April 18, 2022.
CASE ALLEGATIONS: Pulse Biosciences is a bioelectric medicine company and its only commercial product is the CellFX System, which uses Pulse Biosciences’ proprietary Nano-Pulse Stimulation technology to treat a variety of applications. In February 2021, Pulse Biosciences received clearance from the U.S. Food and Drug Administration (“FDA”) of the CellFX System for dermatologic procedures requiring ablation and resurfacing of the skin. In October 2020, Pulse Biosciences initiated its investigational device exemption (“IDE”) study to evaluate the treatment of sebaceous hyperplasia lesions using the CellFX System. The data from this study was intended to support a 510(k) submission to expand the indication for use of the CellFX System to treat sebaceous hyperplasia lesions.
The Pulse Biosciences class action lawsuit alleges that, throughout the Class Period, defendants made false and misleading statements and failed to disclose that: (i) the IDE study evaluating the use of the CellFX System to treat sebaceous hyperplasia lesions failed to meet its primary endpoints; (ii) as a result, there was a substantial risk that the FDA would reject Pulse Biosciences’ 510(k) submission seeking to expand the label for the CellFX System to treat sebaceous hyperplasia lesions; and (iii) consequently, defendants’ positive statements about Pulse Biosciences’ business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
On February 8, 2022, Pulse Biosciences announced that the FDA concluded there was insufficient clinical evidence to support Pulse Biosciences’ 510(k) submission to expand the label for the CellFX System to treat sebaceous hyperplasia. Among other things, the FDA found “that [Pulse Biosciences] had not met the primary endpoints of the sebaceous hyperplasia FDA-approved IDE study.” On this news, Pulse Biosciences’ share price fell by more than 34%, damaging investors.
THE LEAD PLAINTIFF PROCESS: The Private Securities Litigation Reform Act of 1995 permits any investor who purchased Pulse Biosciences securities during the Class Period to seek appointment as lead plaintiff in the Pulse Biosciences class action lawsuit. A lead plaintiff is generally the movant with the greatest financial interest in the relief sought by the putative class who is also typical and adequate of the putative class. A lead plaintiff acts on behalf of all other class members in directing theclass action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the class action lawsuit. An investor’s ability to share in any potential future recovery of the classaction lawsuit is not dependent upon serving as lead plaintiff.
ABOUT ROBBINS GELLER RUDMAN & DOWD LLP: With 200 lawyers in 9 offices nationwide, Robbins Geller Rudman & Dowd LLP is the largest U.S. law firm representing investors in securities class actions. Robbins Geller attorneys have obtained many of the largest shareholder recoveries in history, including the largest securities class action recovery ever – $7.2 billion – in In re Enron Corp. Sec. Litig. The 2020 ISS Securities Class Action Services Top 50 Report ranked Robbins Geller first for recovering $1.6 billion for investors that year, more than double the amount recovered by any other securities plaintiffs’ firm. Please visit http://www.rgrdlaw.com for more information.
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