Pressure BioSciences (OTCQB: PBIO) (“PBI”) reported financial results for the third quarter of 2017 today, along with a business update and limited guidance regarding its expected revenue for the rest of FY 2017. Among other highlights, the company reported a record-breaking total revenue of $646,061, an increase of 21% from $535,334 in the third quarter of 2016. The company also gained increases in products & services revenue, consumable sales and grant revenue. During the quarter, PBI also completed the hiring of its new 5-person field sales team and filled its Director of Sales North America position. “We believe the revenue growth reported in the third quarter and year-to-date will not only continue in Q4 2017 and beyond, but will accelerate to an even greater rate as our new sales team begins to meet with existing and potential customers throughout the U.S.,” PBI VP of finance and CFO Joseph L. Damasio, Jr. stated in the news release. Additionally, PBI will be holding a conference call to discuss the financial results today at 4:30pm EST. To join the conference, dial the North American number, (877) 407-8031 or the international number, (201) 689-8031. The verbal passcode will be “PBIO Third Quarter 2017 Financial Call.” The call will also be available for replay on the company’s website.
To view the full press release, visit http://dtn.fm/YJ5kc
About Pressure BioSciences, Inc.
Pressure BioSciences, Inc. (“PBI”) (OTCQB: PBIO) develops, markets, and sells proprietary laboratory instrumentation and associated consumables to the estimated $6 billion life sciences sample preparation market. The company’s products are based on the unique properties of both constant (i.e., static) and alternating (i.e., pressure cycling technology, or “PCT”) hydrostatic pressure. PCT is a patented enabling technology platform that uses alternating cycles of hydrostatic pressure between ambient and ultra-high levels to safely and reproducibly control bio-molecular interactions. PBI’s primary focus is in the development of PCT-based products for biomarker and target discovery, drug development and design, bio-therapeutics characterization, soil & plant biology, forensics, and counter-bioterror applications. Major new focal market opportunities are emerging in the use of the company’s patented, scalable, high-efficiency Ultra Shear Technology (“UST”) to create stable nanoemulsions of otherwise immiscible fluids (such as oils and water), and to prepare higher quality, homogenized, extended shelf-life or room temperature stable, low-acid liquid foods that cannot be effectively preserved using existing non-thermal technologies. For more information, visit the company’s website at www.PressureBiosciences.com.
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