Pulse Biosciences has entered a research partnership with the University of Texas MD Anderson Cancer Center to evaluate its nPulse Vybrance Percutaneous Electrode System for the treatment of thyroid cancers. The collaboration will employ the company’s proprietary nanosecond pulsed field ablation (nsPFA) technology, which has already received 510(k) clearance for soft‑tissue ablation and is now being tested in a first‑in‑human feasibility study focused on papillary thyroid microcarcinoma.
The FDA’s Investigational Device Exemption (IDE) for the study was approved earlier this year, and the trial is slated to begin in early 2026 at two MD Anderson sites with an enrollment target of 30 patients. In parallel, preclinical work with MD Anderson researchers is underway to assess nsPFA effects on anaplastic thyroid carcinoma, a highly aggressive cancer with a five‑year survival rate below 5%.
Pulse’s CEO, Paul LaViolette, said the partnership “positions our nsPFA platform as a potentially ideal treatment for both benign and malignant thyroid tumors, offering a non‑thermal approach that limits scarring and preserves critical surrounding structures.” The collaboration expands Pulse’s clinical portfolio beyond its current benign thyroid nodule program and signals a strategic push into oncology indications.
Financially, Pulse reported Q3 2025 revenue of $86 000 and a GAAP net loss of $19.4 million, a decline from the $12.7 million loss in Q3 2024. Total GAAP costs and expenses rose to $20.5 million from $13.7 million year‑over‑year, driven by investments in clinical trials and stock‑based compensation. The company’s focus on expanding its nsPFA platform is reflected in these cost increases, which management views as necessary to accelerate regulatory approval and market adoption.
The partnership with MD Anderson is expected to accelerate Pulse’s path to regulatory approval for thyroid cancer indications, potentially opening a sizable market for a minimally invasive treatment. By leveraging MD Anderson’s patient population and clinical expertise, Pulse aims to generate robust clinical data that could support future FDA submissions and broaden its nsPFA platform’s therapeutic reach.
The collaboration also positions Pulse to compete in a field where surgical resection remains the standard of care for papillary thyroid microcarcinoma, offering a less invasive alternative that could reduce operative risks and improve patient quality of life. If the feasibility study demonstrates safety and efficacy, Pulse could pursue larger trials and seek regulatory clearance for a new indication, thereby diversifying its revenue streams beyond the benign nodule market.
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