NetworkNewsBreaks – Pressure BioSciences Inc. (P
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Posted On: 11/18/2020 3:05:45 PM
NetworkNewsBreaks – Pressure BioSciences Inc. (PBIO) Announces Q3 2020 Financial Results, Provides Business Update
Pressure BioSciences (OTCQB: PBIO) (“PBI”), a leader in the development and sale of pressure-based instruments, consumables and platform solutions to the worldwide life sciences and other industries, on Tuesday released financial results for the third quarter ended September 30, 2020. In addition, the company provided a business update and offered limited guidance for fiscal year 2021. “We are delighted with the results of the third quarter 2020, particularly in the measurable progress made in three important areas: (i) key operational and technical projects . . . ; (ii) revenue increases in our products and services offerings; and (iii) important restructuring improvements in the reduction of onerous, variable-rate convertible debt,” said Richard T. Schumacher, president and CEO of Pressure BioSciences. “As previously reported, the company’s first and second quarter 2020 results were substantially impacted by business interruptions and/or distractions for PBI clients and prospects. However, third quarter 2020 results demonstrated a dramatic recovery, with Q3 total revenue exceeding the revenue of Q1 and Q2 2020 combined and topping all previous quarterly revenue results since Q4 2018. Similarly, instrument sales in Q3 2020 exceeded instrument sales in Q1 and Q2 2020 combined, and contracted services revenue for our Ultra Shear Technology(TM) (“UST(TM)”) nanoemulsions and BaroFold(TM) biopharmaceutical protein refolding and recovery platforms in Q3 2020 also exceeded revenue for the same services in Q1 and Q2 2020 combined.”
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
Pressure BioSciences (OTCQB: PBIO) (“PBI”), a leader in the development and sale of pressure-based instruments, consumables and platform solutions to the worldwide life sciences and other industries, on Tuesday released financial results for the third quarter ended September 30, 2020. In addition, the company provided a business update and offered limited guidance for fiscal year 2021. “We are delighted with the results of the third quarter 2020, particularly in the measurable progress made in three important areas: (i) key operational and technical projects . . . ; (ii) revenue increases in our products and services offerings; and (iii) important restructuring improvements in the reduction of onerous, variable-rate convertible debt,” said Richard T. Schumacher, president and CEO of Pressure BioSciences. “As previously reported, the company’s first and second quarter 2020 results were substantially impacted by business interruptions and/or distractions for PBI clients and prospects. However, third quarter 2020 results demonstrated a dramatic recovery, with Q3 total revenue exceeding the revenue of Q1 and Q2 2020 combined and topping all previous quarterly revenue results since Q4 2018. Similarly, instrument sales in Q3 2020 exceeded instrument sales in Q1 and Q2 2020 combined, and contracted services revenue for our Ultra Shear Technology(TM) (“UST(TM)”) nanoemulsions and BaroFold(TM) biopharmaceutical protein refolding and recovery platforms in Q3 2020 also exceeded revenue for the same services in Q1 and Q2 2020 combined.”
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
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