Pressure BioSciences (OTCQB: PBIO), a leader in the development and sale of broadly enabling, pressure-based instruments, consumables and specialty testing services to the worldwide biotechnology and other industries, today released financial results for the second quarter ended June 30, 2023, provided a business update, and offered limited guidance for expected achievements through the remainder of 2023. Among the highlights, the company reported total revenue of $511,800 for the second quarter of 2023 and $1,252,403 for the first half of 2023, reflecting increases of 3% and 28%, respectively, from the same periods last year.
“We were pleased to report all-time record revenue in first half 2023, despite our focus on preparations for the commercial launch and scale up of our UltraShear technology platform in late May,” said Richard T. Schumacher, president and CEO of PBIO. “We more recently announced the initial surge in UltraShear distributor sign-ups and orders, which we believe will continue at an increasing rate through the coming months. We anticipate strong UltraShear revenues in 2nd Half 2023 and the announcement of contracts with multiple name brands across a diversity of industries.”
To view the full press release, visit https://ibn.fm/gLVfV
About Pressure BioSciences Inc.
Pressure BioSciences is a global leader in providing innovative, broadly enabling, high pressure-based solutions for a range of industries, including biotechnology, pharmaceutical, nutraceutical, cosmeceutical, and agrochemical, as well as food and beverage manufacturing. Its products utilize both constant and alternating pressure. The company’s patented enabling technology platform, Pressure Cycling Technology (“PCT”), utilizes alternating cycles of pressure to control bio-molecular interactions (such as cell lysis and biomolecule extraction) safely and reproducibly. PCT-based products are beginning to be widely used for biomarker and target discovery, drug design and development, biotherapeutics characterization and quality control, soil and plant biology, forensics, and counter-bioterrorism applications. The company has recently expanded its market opportunities with the acquisition of the BaroFold(TM) patented technology platform, allowing it to enter the bio-pharma contract services and GMP manufacturing equipment sector. The company has also developed the scalable and high-efficiency pressure-based UltraShear Technology(TM) (UltraShear(TM)) platform, which allows for the creation of stable nanoemulsions of otherwise immiscible fluids. It also allows for the preparation of higher quality, homogenized, extended shelf-life or room temperature-stable low-acid liquid foods that cannot be effectively preserved using existing non-thermal technologies. The company’s commitment to innovation and cutting-edge technology has established PBIO as a leader in the high-pressure industry, providing unique and effective solutions to its customers. For more information about the company, visit www.PressureBioSciences.com.
NOTE TO INVESTORS: The latest news and updates relating to PBIO are available in the company’s newsroom at http://ibn.fm/PBIO
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