$PBIO Mr. Richard T. Schumacher, President and CEO
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Posted On: 12/20/2019 12:04:03 PM
$PBIO 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. Schumacher continued: “According to ASD Reports (Dec 2016), the cancer/tumor profiling market is poised to reach nearly $62 billion by 2021. Based on multiple recent publications and presentations by cancer research scientists that have highlighted the importance of our PCT platform in their work, we believe our PCT-based products (instruments and consumables) position us well to take advantage of this very large and growing market. Because of this, and because of feedback received from many cancer researchers (including Key Opinion Leaders), we believe our PCT-based products will show significant revenue increases in 2020. We also expect to announce one or more strategic marketing and distribution agreements with industry leaders during 2020; we believe these will also help to accelerate revenue.”
https://seekingalpha.com/news/3527448-pressur...q3-results
Mr. Schumacher continued: “According to ASD Reports (Dec 2016), the cancer/tumor profiling market is poised to reach nearly $62 billion by 2021. Based on multiple recent publications and presentations by cancer research scientists that have highlighted the importance of our PCT platform in their work, we believe our PCT-based products (instruments and consumables) position us well to take advantage of this very large and growing market. Because of this, and because of feedback received from many cancer researchers (including Key Opinion Leaders), we believe our PCT-based products will show significant revenue increases in 2020. We also expect to announce one or more strategic marketing and distribution agreements with industry leaders during 2020; we believe these will also help to accelerate revenue.”
https://seekingalpha.com/news/3527448-pressur...q3-results
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