NEW YORK, NY / ACCESSWIRE / May 23, 2017 / SeeThruEquity, a leading independent equity research and corporate access firm focused on small-cap and micro-cap public companies, today announced it has issued an update on Pressure BioSciences, Inc. (OTCQB: PBIO).
The report is available here: PBIO May 2017 Update Note.
Highlights from the update note are as follows:
Solid growth in 1Q17 expected to continue
PBIO began 2017 with nice growth in 1Q17, with revenues up 8% YoY at $551,357. Business was particularly strong in the company's products and services segment, which demonstrated 16% annual growth led by strong instrument sales. Sales of consumable products also increased by 43% from a smaller base. Grant revenues decreased in the quarter, though in our view, products and services represent the more telling view of the traction in the business. On its call with investors, PBIO management stated that it expected sales growth throughout the year as it expands distribution and selling partnerships, including the recently announced partnership with EKG Sales Associates; the company also expects an increase in grant revenues later in the year.
Barocycler 2320EXTREME granted CE Marking
We were pleased to see that PBIO achieved its CE Marking for its Barocycler 2320EXTREME instrument system faster than originally expected. The CE Marking is a significant milestone as it allows the Barocycler to be sold in Europe. The development clearly expands the sales potential for PBIO, supporting a view that sales should expand throughout the year.
Key corporate development announcements
PBIO recently announced the return of Joseph L. Damasio, Jr. to the company. Damasio now serves as VP of Finance and CFO, bringing significant experience to an essential role for the company. PBIO also reiterated its plans to apply for a Nasdaq listing, with a goal of completing its uplist by the end of 2Q17. The company will likely have to execute a reverse split and refinance its capital structure in order complete this move.
Price target unchanged at this time
PBIO reported 1Q17 results that were largely within our expectations. The company has announced that it is pursuing an uplisting to the Nasdaq, with a goal of completing the process by the end of 2Q17. We expect this move will require a transaction that will bring in much needed capital, but also affect shares outstanding, in order to meet minimum share price and shareholder's equity thresholds for a national listing.
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About Pressure BioSciences, Inc.
Pressure BioSciences, Inc. ("PBI") (PBIO) develops, markets, and sells proprietary laboratory instrumentation and associated consumables to the estimated $6 billion life sciences sample preparation market. 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. To date, we have installed over 250 PCT systems in approximately 160 sites worldwide. There are over 100 publications citing the advantages of the PCT platform over competitive methods, many from key opinion leaders. Our primary application development and sales efforts are in the biomarker discovery, drug discovery & design, and forensics areas. Customers also use our products in other areas, such as bio-therapeutics characterization, soil & plant biology, vaccine development, and counter-bioterror applications.
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SeeThruEquity
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SOURCE: SeeThruEquity