Pressure BioSciences Inc. (OTCQB:PBIO) Chief Executive Officer Richard T. Schumacher said he expects 2018 to be “another solid year” for the Massachusetts-based company, helped in part by the acquisition of BaroFold intellectual property.
“The results we achieved in 2017 were especially rewarding in that they were achieved with only one dedicated salesperson,” Schumacher said recently on Uptick Newswire’s “Stock Day” podcast. “The enhancements we are implementing in our products, our sales and marketing capabilities, and our corporate infrastructure will allow us to better design, create, sell, support and distribute our product line in 2018.”
READ: Pressure BioSciences reports 20% bump in 4Q sales, expects continued growth in its main business
The life-science group that makes laboratory devices said last week that fourth-quarter sales gained 20% as its product and services business continues to grow. Pressure BioSciences's sales of instruments rose 55% to US$317,498 in the quarter and 21% to US$1.46mln for the full year. Revenue for consumables gained 20% to US$60,108 in the quarter, while it climbed 30% to US$260,331 for the year.
The CEO also cited new patents in Pressure BioSciences’s Ultra Shear Technology platform and the release of its GMP-compliant software as areas that will contribute to results this year.
“We believe these new assets will help expand our customer base, take us further down the path to profitability and help increase shareholder value,” Schumacher said.