Brokerages downgrade Pulse Biosciences as skin device launch sputters

Pulse Biosciences

13/05/2022 12:27

** Brokerages H.C. Wainwright and Stephens downgrade shares
of medical device maker's  PLSE.O  to "neutral" and
"equal-weight", respectively 
    ** Stephens says commercial execution related to co's CellFX
device to treat skin diseases has been more protracted than
anticipated after co missed Q1 sales estimates on Wednesday
 urn:newsml:reuters.com:*:nBw8sTTjga
    ** Co said Wednesday it had reduced its sales force by 20%
in Q1 to cut costs
    ** H.C. Wainwright says considering the current unfavorable
stock price, co could face funding concerns or experience
significant dilution before the commercial turnaround could
occur
    ** PLSE shares have lost over 90% of their value YTD

 (Reporting by Manas Mishra)
 ((Manas.Mishra@thomsonreuters.com;
www.twitter.com/Manaswrites15))