Document sales, robust progress in BaroFold and UST providers, and the launch of a revolutionary CBD processing system highlight the second quarter of 2019; The corporate is predicted to greater than double its complete income in 2020.
Pressure BioSciences, Inc. (OTCQB: PBIO) ("PBI" or "Company"), a number one provider of wide-ranging, pressure-based devices, shopper products and platform options for the global life sciences business. , announced right now the second quarter financial results for the yr ended June 30, 2019, offered a business update, and offered steerage for the remainder of the yr2019 and FY 2020.
Financials: Q2 2019 vs. Q2 2018 (rounded to the closest hundred excluding EPS)
. Complete revenue for the second quarter ended June 30, 2019 was $ 518,700, in contrast with $ 638,800 for the same period in 2018, 19%. decreases. Gross sales of merchandise and providers have been $ 518,700 within the second quarter of 2019, compared with $ 618,400 within the corresponding quarter of 2018, a decrease of 16%. Instrument gross sales declined to $ 247,000 within the second quarter from $ 397,000 within the second quarter of 2018, down 38%. Consumables sales have been $ 91,400 in the second quarter of 2019 (an all-time excessive) in comparison with $ 64,100 for a similar period in 2018, up 43%. BaroFold contract providers for protein degradation and managed refolding purposes have been $ 69,700 within the second quarter of 2019, in contrast with $ 52,600 in 2018, a rise of 32.5%. UST Contract Providers reached $ 41,400 within the second quarter of 2014, compared with $ 14,300 within the second quarter of 2018, an increase of 197.5%. Scholarship revenue within the second quarter of 2014 was lower than $ 20,000 within the second quarter of 2018. Our NIH grant expired in November 2018.
The working loss for the second quarter of 2012 was $ 1,400,400 in comparison with $ 920,900 for a similar interval in 2018. The rise included legal fees for fundraising, increased use of investor and public relations providers, cash move from new inventory options and hiring costs of hiring for business improvement.
The loss on strange shares – primary and diluted – was $ (2.22) within the second quarter of 2019 compared to a loss per share (9.20) in the identical interval in 2018. The lower share loss was because of the firm's recording of earlier yr dividends . function within the Collection AA Most popular Shares and the Worth Cover Order, which commenced on Might 2, 2018 by the sale of the Collection AA Most popular Shares, which impacts the bonds and inventory options to buy by the prevailing bondholders.
Financial Outcomes: First Half 2019 (1H) In comparison with First Half 2018 (1H) (Rounded to the closest hundred excluding EPS)
Complete revenue for 1H 2019 was $ 1,028,900 versus $ 1,249,500. in the identical period last yr, a decrease of $ 220,600, or 18 %. This lower was mainly as a result of lower gross sales of instruments as described under. We anticipate complete income to develop in the course of the second two quarters of 2019. Gross sales of products and providers decreased to $ 1,028,900 in the first half of 2019, in contrast with $ 1,203,700 in the corresponding period of 2018, or $ 174,800, or 15%. In comparison with 1H 2019 1H 2018, instrument sales fell to $ 385,700 from $ 817,100, shopper items gross sales rose to $ 153,400 (an all-time excessive) from $ 138,800, BaroFold contract providers rose to $ 220,800 and UST contract providers rose to $ 128,300 compared to $ 14,300. We consider that product and service revenue will continue to extend (This fall / This fall) for the remaining quarters of 2019.
The operating loss was $ 2,797,000 in the first half of 2019, while the loss for the corresponding interval in 2018 was $ 2,029,000, a rise of $ 768,000 or 38% in 2018. The increase included authorized charges for fundraising, elevated use of investor and public relations providers, cash compensation because of the renewal of inventory options, and personnel prices associated with hiring a trading director and associated business improvement trips. 19659006] Internet loss for abnormal shares was $ (four.24) – primary and diluted – for the six months ended June 30, 2019, compared to internet loss (11.01) for widespread stock (primary and diluted) for the same interval in 2018. because of the company's recognition of previous yr's dividends because of the useful conversion function of the Collection AA most popular shares and the worth hedging provision of Might 2, 2018 ensuing from the sale of the Collection AA most popular shares. Buy of bonds and warrants for widespread inventory held by present bondholders.
Current Useful and Technical Highlights
Deploying Revolutionary UST-Based mostly System Make Excessive-High quality, Water-Soluble CBD Oils
- We launched a brief video demonstrating our UST platform's capacity to create water-soluble CBD oil, when infused with mushy drinks, sports drinks and beer to improve high quality and absorption
- We announced our leads to the CBD market by launching a brand new processing system (BaroShear Okay45) that may revolutionize the water-soluble, long-lasting, highly absorbent, nanoemulsified CBD65 oil. We announced the unique relative and buyer of our BaroShear Okay45 nanoemulsification system
- . We promoted measurable progress in building a GMP-compliant manufacturing laboratory, where we sit up for presenting BaroShear Okay45 and industrial scale, 2 liters per minute UST-based nanoemulsification techniques
- reached the primary main milestone in our USDA-funded challenge to develop a possible breakthrough process for producing larger quality, nutritious and safer meals and drinks – specializing in dairy products similar to milk. This new processing technique is predicated on PBIO's patented Extremely Shear Know-how (UST).
The lately launched enlargement of our BaroFold Contract Providers business
- We entered right into a six-digit multinational, multi-billion euro agreement. dollar biopharmaceutical firm
- We continued to negotiate an agreement with one other multinational, multibillion dollar company
- Expanded contract service laboratory with specialised enhancements and new methods / purposes
(Nationally Recognized Protein Chemist) spoke of the important position of PBI's Barocycler EXT platform in serving to to profiling their laser seize microdissected tumor tissue samples with their APOLLO Cancer Moonshot penetration required by the College of Sci efficient in research creating improved meals safety methods. The need for brand spanking new methods to stop critical foodborne illnesses brought on by bacteria corresponding to E. coli and Listeria was examined.  Richard T. Schumacher, CEO of PBI, stated: Because of the poor water solubility of in the present day's oil-based CBD merchandise, most CBD ingested is leached out of the body, leaving little to offer its helpful properties. After a number of care and analysis, we got here to the conclusion that we have now the experience and experience to efficiently remedy this essential matter. Consequently, we took vital hours away from lots of our staff in current months and urged them to give attention to creating an instrument system – based mostly on our patented UST platform – that might improve water solubility and thus CBD oil absorption. We managed; The results of this success is the BaroShear Okay45 processing system
. Schumacher continued: The CBD market is predicted to succeed in $ 20 billion by 2024 (BDS Analytics, 2019). There are at present lots of of corporations on this sector. With a view to survive, corporations want to differentiate themselves from competitors by supplying the very best high quality merchandise. Such merchandise must undoubtedly have a high water solubility, absorption and bioavailability, an extended shelf life and a minimal quantity of added chemical compounds. That’s what we’re going to give.
Mr. Schumacher said: We’ve got already began promoting limited portions of BaroShear Okay45. Models to be bought in the coming weeks might be shipped and installed in early 2020. We consider that such gross sales could have a big impression on complete revenue for 2020, probably resulting in greater than double 2019 complete income. We additionally consider that BaroFold's revenue from platform providers will continue to extend and that the decline in PCT platform gross sales seen within the last two quarters (due partially to our concentrate on BaroShear Okay45 improvement) will stop and that PCT will improve in Product Sales within the second half of 2019.
The company will maintain a income conference call at four:30 pm EDT on Thursday, August 15, 2019. To take part on this phone convention name, call (844) 602-0380 (North America), (862) 298-0970 (worldwide) . Verbal ID Code: PBIO Q2 2019 earnings name. Most up-to-date number (877) 481-4010 (North America), (919) 882-2331 (international). Repeat ID: 53312. Teleconference Repeat out there for 30 days. About Pressure BioSciences, Inc. (19659004) Pressure BioSciences, Inc. (OTCQB: PBIO) is a pacesetter in the improvement and advertising of progressive, wide-ranging pressures. based mostly options within the international life sciences area. Our merchandise are based mostly on the distinctive properties of both fixed (i.e. Static) and Various (i.e. Pressure Relay Know-how or PCT) hydrostatic strain. PCT is a patented enabling know-how platform that makes use of alternating durations of hydrostatic strain between ambient and very high ranges to maintain biomolecular interactions (e.g., cell lysis, biomolecule extraction) protected and reproducible. Our main focus is on creating PCT-based merchandise for biomarker and goal discovery, drug design and improvement, biotherapeutic characterization and quality control, soil and plant biology, forensic science and anti-bioterrorism purposes. In addition, our pressure-based know-how has introduced vital new market opportunities in the following areas: (1) using proprietary know-how (BaroFold know-how) lately acquired by BaroFold, Inc., to entry the bio-content business, and (2) the newly patented, highly scalable, scalable, Using Ultra Shear Know-how (UST) medium (i) varieties a secure nano-emulsion for in any other case immiscible liquids (e.g., CBD Oil and (ii) produces greater quality, homogenized, longer shelf life or room temperature secure low acid liquid foods that can’t be effectively stored using present
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