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Pressure BioSciences, Inc. Reports Second Quarter 2014 Financial Results and Provides Business Update
Date:8/14/2014

1 compared to $728,474 for the same period in 2013, a 2% decrease. This decrease was due solely to the loss of $310,382 in grant revenue in the six month period ended June 30, 2014, offset almost entirely by a 70% increase in products and services revenue, as stated.

Operating loss for the six months ended June 30, 2014 was $1,629,123 compared to $1,583,049 for the same period in 2013. This small increase in operating loss was attributable solely to the 100% loss in grant revenue in the first six months of 2014.

Loss per common share – basic and diluted – was $0.05 for the second quarter of 2014 compared to $0.10 for the same period in 2013.  Loss per common share – basic and diluted – was $0.30 for the six months ended June 30, 2014 compared to $0.22 for the same six-month period of 2013. 

Mr. Richard T. Schumacher, President and CEO of PBI, said: "On June 15th we launched our first-in-class, bench top, high throughput pressure cycling technology ("PCT")-based instrument, the Barozyme HT48, at a major worldwide scientific meeting. The Barozyme HT48 was designed to work with the standardized, high throughput, liquid-handling robotic and analytical systems currently installed in tens of thousands of biological research labs worldwide. With the addition of this important automation compatibility feature, we believe the Barozyme HT48 has the potential to significantly fuel growth and increase revenue for existing and new PCT-based applications and products, and to greatly facilitate future strategic partnership discussions."Mr. Schumacher continued: "We believe the number of PCT-based applications with exciting market potential significantly exceeds the number we can realistically work on.  Consequently, during the second quarter we engaged IssuWorks to begin a review of the possible spin-off of vertical market applications into new, stand-alone businesses. The goal is to have the
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