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NetworkNewsBreaks – Pressure BioSciences Inc. (PBIO) Announces FY2017 Financial Results
April 3, 2018 11:41:55
Global life sciences company Pressure BioSciences Inc. (OTCQB: PBIO) today announced its financial results for the fourth quarter and fiscal year ended December 31, 2017. The company also provided a business update and offered limited guidance for FY2018. Among the highlights, PBIO reported $502,708 in total revenue for the three-month period, marking a year-over-year increase of 20 percent that it attributed primarily to double-digit growth in its products and services. The company recorded similarly strong results for the 12-month period, reporting $2.24 million in annual revenue for a year-over-year increase of 13 percent. "This past year was filled with a number of significant financial, operational and technological accomplishments that have set the stage well for what we believe will be a very exciting and successful 2018," Joseph L. Damasio, PBIO's CFO and VP of Finance, stated in the news release. Damasio also reiterated the company's plans to uplist to a national exchange in the coming months, adding, "Because we understand the advantages and importance that an up-list will bring PBI, we anticipate re-initiating the up-list process soon, with a goal to complete the up-list before the end of this year."
To view the full press release, visit http://nnw.fm/npbP2
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. Its 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). The company's 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. For more information, visit the company's website at www.PressureBiosciences.com
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