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Pressure BioSciences, Inc. Reports Third Quarter 2013 Financial Results and Provides Business Update
Date:11/7/2013

11; was $0.06 for the third quarter of 2013 compared to $0.09 for the same period in 2012.  Loss per common share – basic and diluted – was $0.28 for the nine months ended September 30, 2013 compared to $0.34 for the same nine-month period of 2012. 

Richard T. Schumacher, President and CEO of PBI, said: "On June 4th, we announced a core technology breakthrough, specifically the achievement of proof-of-principle in our multi-year investment into the development of a high throughput ("HT") microwell system for our pressure cycling technology ("PCT") platform.  We said then, and believe it even more today, that this achievement is a 'game-changer' for PBI."

Mr. Schumacher continued: "We had two major goals for the 2013 third quarter.  First we wanted to show continued progress in implementing our aggressive sales and marketing plan. To that end, we expanded our strategic marketing and sales program with Constant Systems, we increased our social media presence, we revamped our corporate website, we increased our support of and training programs with our distributors, we increased our marketing presence in the life sciences area, and we increased our sales out-reach to potential users of the PCT system.  These efforts resulted in record instrument and consumable sales for the quarter."

Mr. Schumacher concluded: "Our second goal was to finish the design of the PCT-based HT system, begin to manufacture the first generation instruments, develop a plan for beta site testing by industry leaders, and to formulate the steps required for the commercial release of this "first-in-class" unique and enabling instrument system during the second quarter of 2014.  We believe we have achieved all parts of this goal."

Richard P. Thomley, Acting Chief Financial Officer of PBI, commented: "In addition to the measurable progress made in our technology platform, commercialization reach, and new product develop
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SOURCE Pressure BioSciences, Inc.
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