02:19 PM EDT, 04/01/2024 (MT Newswires) -- Pulse Biosciences ( PLSE ) shares fell more than 13% in recent Monday trading following its Q4 results late last week and plans to raise funds through a rights issue.

Late Thursday, the company reported Q4 GAAP net loss of $0.22 per diluted share, narrowing from a loss of $0.25 a year earlier. Analysts estimates were not available.

Pulse also said it plans to raise up to $60 million through a rights offering, with each unit consisting of one share and warrants to purchase one share.

The company also said Robert Duggan, executive chairman and majority stockholder, plans to participate in the rights offering.

Price: 7.51, Change: -1.20, Percent Change: -13.79