NetworkNewsBreaks – Pressure BioSciences Inc. (P
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Posted On: 05/20/2022 3:44:27 PM
NetworkNewsBreaks – Pressure BioSciences Inc. (PBIO) Releases First-Quarter 2022 Financial Report, Corporate Update
Pressure BioSciences (OTCQB: PBIO), a leader in the development and sale of innovative, broadly enabling, pressure-based instruments, consumables, and specialty services to the worldwide biopharmaceuticals, cosmetics, nutraceuticals, agrochem, and food & beverage industries, is reporting its financial results for Q1 2022, the period ended March 31, 2022; the company also released a business update provided guidance for the remainder of the year. Key numbers from the report include total revenue for the quarter totaling $480,000, down 14% from $560,000 for Q1 2021; instrument sales of $465,000, compared to $553,800 for Q1 2021; and consumable sales for the quarter reached $40,000, a decrease of 61% from the same period last year. Operational highlights for the company include the announcement of PBIO’s first nanoemulsions manufacturing agreement under its new UST Early Access Program; the announcement of the Early Access Program for UST nanoemulsion processing; the successful commissioning by The Ohio State University (“OSU”) of PBI’s production-scale BaroShear UST MAX System for better processing of liquid foods and beverages within its College of Food, Agriculture and Environmental Sciences; and the installation of the company’s UST platform in OSU’s Advanced Food Processing Technology Pilot Plant. “Driven by demand from current and prospective customers, and integrating with our plan for the UST platform to be ready for broad-scale commercialization in 2023, we announced the release of an Early Access Program for our UST processing platform late last month,” said PBI president and CEO Richard T. Schumacher in the press release. “In just two weeks since that announcement, we have (i) executed the first-ever agreement to manufacture product for sale using our revolutionary UST platform for the preparation of high-quality nanoemulsions; (ii) initiated negotiations with several additional groups for UST processing projects to begin this year (initially in the nutraceutical and cosmetics areas); (iii) begun to develop and expand the capabilities needed for a successful commercial launch, including upgrades in manufacturing, quality control, project management, and logistics; and (iv) started to supplement our technical, sales, and marketing areas. With current first strides and announcements of initial commercialization activities and agreements for our UST platform, our team and commercial partners are becoming palpably excited. . . . The company expects to be profitable and cash-flow positive by the end of 2023.”
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), a leader in the development and sale of innovative, broadly enabling, pressure-based instruments, consumables, and specialty services to the worldwide biopharmaceuticals, cosmetics, nutraceuticals, agrochem, and food & beverage industries, is reporting its financial results for Q1 2022, the period ended March 31, 2022; the company also released a business update provided guidance for the remainder of the year. Key numbers from the report include total revenue for the quarter totaling $480,000, down 14% from $560,000 for Q1 2021; instrument sales of $465,000, compared to $553,800 for Q1 2021; and consumable sales for the quarter reached $40,000, a decrease of 61% from the same period last year. Operational highlights for the company include the announcement of PBIO’s first nanoemulsions manufacturing agreement under its new UST Early Access Program; the announcement of the Early Access Program for UST nanoemulsion processing; the successful commissioning by The Ohio State University (“OSU”) of PBI’s production-scale BaroShear UST MAX System for better processing of liquid foods and beverages within its College of Food, Agriculture and Environmental Sciences; and the installation of the company’s UST platform in OSU’s Advanced Food Processing Technology Pilot Plant. “Driven by demand from current and prospective customers, and integrating with our plan for the UST platform to be ready for broad-scale commercialization in 2023, we announced the release of an Early Access Program for our UST processing platform late last month,” said PBI president and CEO Richard T. Schumacher in the press release. “In just two weeks since that announcement, we have (i) executed the first-ever agreement to manufacture product for sale using our revolutionary UST platform for the preparation of high-quality nanoemulsions; (ii) initiated negotiations with several additional groups for UST processing projects to begin this year (initially in the nutraceutical and cosmetics areas); (iii) begun to develop and expand the capabilities needed for a successful commercial launch, including upgrades in manufacturing, quality control, project management, and logistics; and (iv) started to supplement our technical, sales, and marketing areas. With current first strides and announcements of initial commercialization activities and agreements for our UST platform, our team and commercial partners are becoming palpably excited. . . . The company expects to be profitable and cash-flow positive by the end of 2023.”
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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