Pressure Biosciences, Inc. (NASDAQ: PBIO) recently reported the sale of four of its Barocycler NEP3229 PCT Sample Preparation Systems. Compare that to the sale of only one system in the second quarter of last year, and you’ve got a company on the move.
The company also posted $65,772 in grant revenue for the quarter ended June 30, 2007; last year it reported none. Additionally, Pressure Biosciences posted $202,127 for the second quarter of 2007, as compared to $28,783 in the same period of 2006. Cash on hand as of June 30, 2007, was about $6.8 million, up from $5.3 million reported as of December 31, 2006.
Increases across the board are attributed to an increase in sales of certain equipment, including the Barocycler and (Pressure Used to Lyse Samples for Extraction) PULSE-Tubes, as well as the sale of the company’s remaining shares held in Panacos Pharmaceuticals and the remaining divestiture of Source Scientific, LLC.
The technology behind the numbers is the pressure cycle technology (PCT), which is used in many life-science applications. The technology allows for a better understanding of circumstances leading to strokes, the detection of colon cancer, and the detection of proteins with embryo viability.
PCT uses hydrostatic pressure between ambient and ultra-high levels to control bio-molecular interactions. The company’s product line includes the Barocycler and PULSE Tubes, which comprise the PCT system. Pressure Biosciences holds 13 U.S. patents, and five foreign patents spanning broad applications in life sciences including protein purification, proteomic, DNA sequencing and food safety.
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