The company plans to use the net proceeds from the private placement for working capital or other general corporate purposes, according to a regulatory filing.
The Burlingame, Calif.-based company’s PulseTx system uses short-duration electrical pulses directed at solid tumors to induce immunogenic cell death. The cell death process exposes the tumor cell antigens to the immune system, which triggers an adaptive immune response, according to Pulse Biosciences.
The company said that it withdrew the 510(k) application after failing to deliver requested information to the FDA before Sept. 10.
Pulse Biosciences added that it is “committed to generating the requested data and analysis” and that it plans to submit the application again soon.