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Posted On: 01/03/2020 9:21:11 AM
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$PBIO Dec. 19, 2019 (GLOBE NEWSWIRE) -- via OTC PR WIRE -- Pressure BioSciences, Inc. (PBIO) (“PBI” or the “Company”), a leader in the development and sale of broadly enabling, pressure-based instruments, consumables, services, and platform solutions to the worldwide life sciences industry, today announced financial results for the third quarter ended September 30, 2019, provided a business update, and offered limited guidance for FY2020.
Mr. Richard T. Schumacher, President and CEO of PBI, commented: “We have consistently highlighted the importance of the “razor/razor blade” business model. In the 3rd quarter, consumable sales for our pressure cycling technology (“PCT”) platform exceeded $100,000/quarter for the first time, increasing by 158% over the same quarter last year. A significant portion of this accelerating growth came from scientists working in cancer research centers worldwide. These researchers use PBI’s PCT platform in studies focused on improving cancer diagnostics, prognostics, therapeutics, and prevention. For example, on October 1st we announced that the research group led by nationally acclaimed cancer researcher Dr. Tom Conrads (Sr. Director of Women’s Health Research at the Inova Women’s Hospital, Fairfax, VA) had developed a novel workflow that could enable the identification of biomarkers associated with women’s cancers and possibly result in significant improvements in the clinical management of gynecologic cancer. Dr. Conrads’ comments highlighted that PBI’s PCT platform was an essential part of their workflow.”
Mr. Richard T. Schumacher, President and CEO of PBI, commented: “We have consistently highlighted the importance of the “razor/razor blade” business model. In the 3rd quarter, consumable sales for our pressure cycling technology (“PCT”) platform exceeded $100,000/quarter for the first time, increasing by 158% over the same quarter last year. A significant portion of this accelerating growth came from scientists working in cancer research centers worldwide. These researchers use PBI’s PCT platform in studies focused on improving cancer diagnostics, prognostics, therapeutics, and prevention. For example, on October 1st we announced that the research group led by nationally acclaimed cancer researcher Dr. Tom Conrads (Sr. Director of Women’s Health Research at the Inova Women’s Hospital, Fairfax, VA) had developed a novel workflow that could enable the identification of biomarkers associated with women’s cancers and possibly result in significant improvements in the clinical management of gynecologic cancer. Dr. Conrads’ comments highlighted that PBI’s PCT platform was an essential part of their workflow.”
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