Pressure BioSciences (OTCQB: PBIO) this morning provided a
business update, offered limited guidance for the remainder of 2018 and
reported financial results for the second quarter ended June 30, 2018. Per the
update, total revenue for the second quarter was $638,800, an increase of 18%
compared to $540,400 for the same period in 2017. The company attributed the
increase primarily to its double-digit growth in products and services,
reporting revenue totaling $618,400 for the second quarter of 2018 compared to
$480,400 for the same quarter of 2017, a 29% increase. In addition, Pressure
BioSciences is holding an earnings conference call at 4:30 PM ET on Wednesday,
August 15, 2018. To attend the conference via telephone, dial the North
American line (877) 407-8033 or the international line (201) 689-8033 using the
verbal passcode “PBIO Second Quarter 2018 Financial Results Call.”
“We have just completed one of the most successful quarters
in the history of the company. We reported our tenth consecutive quarterly
increase (YoY) in products and services revenue. Total revenue was one percent
away from an all-time record. Quarterly gross profit margins increased by
double digits (YoY). During the quarter, operating loss decreased by $283,400
(24%), as our focus on reducing expenditures in investor and public relations,
advertising, and non-essential corporate services began to pay dividends.
Importantly, while we were posting revenue increases and operating expense
decreases, we were also successful in completing a critical objective of
converting $13.6 million of debt into equity,” Pressure BioSciences Vice
President of Finance and CFO Joseph L. Damasio stated in the news release.
To view the full press release, visit http://ibn.fm/vUJC5
About Pressure BioSciences Inc.
Pressure BioSciences, Inc. (OTCQB: PBIO) is a leader in the
development and sale of innovative, broadly enabling, pressure-based solutions
for the worldwide life sciences industry. Our 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 (e.g., cell lysis, biomolecule extraction). Our
primary focus is in the development of PCT-based products for biomarker and
target discovery, drug design and development, biotherapeutics characterization
and quality control, soil & plant biology, forensics, and counter-bioterror
applications. Additionally, major new market opportunities have emerged in the
use of our pressure-based technologies in the following areas: (1) the use of
our recently acquired PreEMT technology from BaroFold, Inc. to allow entry into
the biologics contract research services sector, and (2) the use of our
recently-patented, scalable, high-efficiency, pressure-based Ultra Shear
Technology (“UST”) platform to (i) create stable nanoemulsions of otherwise
immiscible fluids (e.g., oils and water) and to (ii) 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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