Proactive Investors - Run By Investors For Investors

Pressure BioSciences CEO says company poised for 'solid year' in 2018

CEO sees assets such as BaroFold, Ultra Shear taking firm 'further down the road to profitability'
Lab tech typing on laptop
The life-science group makes laboratory devices

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.

View full PBIO profile View Profile

Pressure BioSciences Inc Timeline

Related Articles

cholesterol on a dial
September 24 2018
"The formation of ProBiotix Health and appointment of Adam Reynolds as chairman continues a successful strategy of building value in each division which is materialised by forming separate legal entities and taking them to a public listing,” said chief executive Stephen O’Hara
myLotus testing kit
October 31 2018
The launch at the Fertility Show in London at the start of November is the first step in a switch in focus brought about by new executive chairman Matthew Walls
1542204301_heart.jpg
November 15 2018
The goal of the program is to extend the visualization extracted from 2D ultrasound images and visualize 4D images

© Proactive Investors 2018

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use