Pressure BioSciences (PBIO) Reports a Q3 Loss, Comments on Outlook

November 17, 2008 11:17 AM EST

Pressure BioSciences, Inc. (Nasdaq: PBIO) reports a Q3 loss of $0.50 compared to a loss of $0.53 for the same period last year. Total revenue for the third quarter of 2008 was $265,662 compared to $138,052 for the comparable period in the prior year.

"Compelling data have recently been presented to the US scientific community showing a significant improvement in the speed and quality of protein digestion when using PCT prior to MS analysis. Our French and Japanese distributors have informed us that they intend to target their own MS market in 2009, and have indicated that they have seen a growing interest in this important application area. Last week, our Chinese distributor reported that a major national scientific academy in China had generated similar, exciting, PCT-enhanced protein digestion results...We have therefore concluded that the application of PCT-enhanced protein digestion for the mass spectrometry market will be our primary development and sales focus during 2009. We are currently determining the extent of the effect of this realignment on our current operations and cost structure. These activities are dependent upon the successful completion of our ongoing capital raising efforts."

Pressure BioSciences, Inc. is a life sciences company focused on the development and commercialization of a platform technology called pressure cycling technology (PCT). [SM]

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