Pressure Biosciences Inc PBIO

Technology Scientific & Technical Instruments

Pressure BioSciences, Inc. is engaged in providing 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. The Company's enabling 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. The Company's BaroFold technology platform allows it to enter the bio-pharma contract services and GMP manufacturing equipment sector. It has also developed the scalable and pressure-based UltraShear Technology platform, which allows for the creation of stable nanoemulsions of otherwise immiscible fluids. It also allows for the preparation of homogenized, extended shelf-life or room temperature-stable low-acid liquid foods that cannot be preserved using existing non-thermal technologies.

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Post by AveragePennyon May 19, 2022 12:15pm

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Post# 34695610

Pressure BioSciences, Inc. Reports Q1 2022 Financial Results

Financial Highlights: Q1 2022 vs. Q1 2021 (rounded to nearest hundred except EPS)

Total revenue for Q1 2022 was $480,000, reduced 14% from $560,000 for Q1 2021.
Instrument sales for Q1 2022 were $465,000 compared to $553,800 for Q1 2021, down 19%.
Consumable sales for Q1 2022 were $40,000, a decrease of 61% from $102,000 for Q1 2021.
BaroFold/UST services in Q1 2022 were $15,000 compared to $6,100 for Q1 2021, an increase of 59%.
PBI Agrochem subsidiary had sales in Q1 2022 of $83,300, all new sales in a new segment, (no sales in Q1 2021).
Operating loss for Q1 2022 was $1,086,000 up 1% versus $1,075,000 for Q1 2021.
Basic and diluted net loss per share was $(0.48) for Q1 2022, an improvement from $(1.45) for Q1 2021.

Mr. John B. Hollister, Director of Sales and Marketing for PBI, commented: "Q1 2022 sales, while solid, fell short of Q1 2021's very strong Covid rebound performance. Lingering supply chain issues and some customer uncertainties have persisted in the market. We saw increases in our international sales, which is encouraging. Additionally, we have lately been experiencing notable increases in quote requests from our academic research customers. These usually have a slightly longer cycle time, as some orders may depend on grant funding, but this uptick in quotes bodes well for future demand. The increase in BaroFold services is driven by positive results achieved to date and expanding demand. Most importantly, our team has remained hyper focused on our commercialization plan and pathway for the UST platform throughout 2022."

Q1 2022 and Recent Operational and Technical Highlights

May 4. Company announces first nanoemulsions manufacturing agreement under new UST Early Access Program.
April 27. Company announces Early Access Program for UST nanoemulsion processing.
April 5. Company reports strong FY 2021 financial and operational results.
March 17. PBI updates stakeholders on key 2022 goals: UST commercialization, major revenue increase in 2H 2022, financial position improvement, and expected uplist to national market.
February 28: The Ohio State University announces successful commissioning 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 - achieving a key PBI commercialization milestone for its consortium with Ohio State to serve the food industry.
January 27: PBI's UST platform installed in the acclaimed Ohio State University Advanced Food Processing Technology Pilot Plant. Installation will help introduce the global food industry to the use of UST for the preparation of safer, more nutritious and appealing liquid foods and beverages.