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Pressure BioSciences sets stage for “very successful” 2017
Growth in products and services sales helped Pressure Biosciences Inc (OTCQB: PBIO) post a 10% increase in revenue in the year just gone.
Total revenue for the year to end December came in at $1.97mln compared to $1.79 mln in the same period of 2015.
Products and services revenue was up 27% to $1.79mln in 2016 versus $1.409mln in 2015.
The operating loss was $3.73mln compared to a loss of $3.56mln in 2015, due primarily to increases in R&D, Sales and Marketing, and IR expenses, off-set to a certain extent by an increase in Total revenue.
Pressure Biosciences Inc had a busy 2016 in which it made progress, it said. The biotech is developing and selling laboratory instrumentats and associated consumables to the estimated $6bn life sciences sample preparation market.
Last month, it achieved CE Marking for its sample preparation instrument Barocycler 2320EXTREME, giving it the green light to sell the product in Europe.
President and chief executive Richard T. Schumacher said: “Our accomplishments over the past year have set the stage for what we believe will be a very successful 2017.”
The group enters the new year with a stronger balance sheet; a broader product offering; an award-winning, next generation instrument; a larger customer base; and enhanced sales and marketing capability, he said.
The 2017 goals include: an up-list to the NASDAQ stock market in the second quarter, measureable progress in completing and implementing a sound roadmap toward financial self-sufficiency and future growth and prosperity, continuing sales and marketing capabilities, and reach into new countries, investigators, and fields-of-use; and a focus on sales.
Shares added 1.96% on the day to stand at $0.260001 a share.
Story by ProactiveInvestors
Source: http://www.proactiveinvestors.com/companies/news/175244/pressure-biosciences-sets-stage-for-very-successful-2017-175244.html
