New York, NY / ACCESSWIRE / May 28, 2014 / SeeThruEquity, a leading New York City based independent equity research and corporate access firm focused on smallcap and microcap public companies, today announced that it has issued a quarterly update on Pressure BioSciences (OTCQB: PBIO) for Q1 2014.
"PBIO had a solid quarter with revenues up significantly from the year prior," stated Ajay Tandon, CEO of SeeThruEquity. "We are further encouraged by the Company closing $1.8 million in its Series K financing exceeding its goal of $1.5 million. We are maintaining our price target of $1.57 per share."
Recent highlights mentioned in the update report include the following:
- Strong product growth highlighted by consumables. Revenue from the sale of products and services accounted for all $404k in revenues, compared to $221.6k in 1Q13, an 82% increase. PBIO reported total revenue for 1Q14 of $404k compared to $371k for the same period in 2013, representing a 9% increase.
- Management increasing company visibility. In May 2014, PBIO was selected to present at the Cavendish Global Health Impact Forum taking place May 5-7 New York, NY. The purpose of the Forum is to help family offices and foundations develop and implement their individual pro-social impact investing, grant-giving, and philanthropy programs within health and the life sciences. Cavendish Global consists of over 150 leading family offices and foundations from around the world with combined assets of over $190 billion who share a passion for pro-social endeavors within health and the life sciences.
- Closing of additional tranches of Series K PIPE. PBIO closed two tranches ($1.8mn) of its Series K PIPE (initial goal $1.5mn) during 1Q14, supplementing the $1mn it had already raised in December 2013.
The report is available at: PBIO Update Report. SeeThruEquity is an approved equity research contributor on Thomson First Call, CapitalIQ, FactSet, and Zack’s.
Please review important disclosures on our website at www.seethruequity.com.
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.
SeeThruEquity is an equity research and corporate access firm focused on companies with less than $1 billion in market capitalization. The research is not paid for and unbiased. We do not conduct any investment banking or commission based business. We are approved to contribute our research to Thomson Reuters One (First Call), CapitalIQ, FactSet, Zacks and distribute our research to our database of opt-in investors. We also contribute our estimates to Thomson Estimates, the leading estimates platform on Wall Street.
For more information visit www.seethruequity.com.