The company's Barocycler 2320Extreme is now available to the European biopharma market.
The decline resulted from a drop in grant revenues, which more than offset an increase in instrument sales.
The revenue increase was driven by strong growth in instrument and consumable sales, which more than offset declining grant revenue.
The company said instrument sales rose 41 percent during the quarter, while sales of consumables rose 11 percent.
The researchers found that adding PBI's MicroPestle tool to a conventional pressure cycling workflow yielded between 20 and 40 percent more peptides.
The sample prep firm landed an NIH SBIR Phase II grant to help boost total revenues but saw its net loss widen to $7.4 million and operating expenses increase.
Funded by $10 million in seed money by the Australian Cancer Research Foundation, the center has purchased six Sciex TripleTOF 6600 mass spectrometers.
Under the agreement, PBI will promote its pressure cycling technology sample preparation systems with Sciex's mass spec instruments and Swath proteomics workflow.
The company used the proceeds, which bring the total amount raised in the offering to nearly $4.8 million, to pay off all its variable rate convertible debt.
Pressure Bio's revenues jumped on increased sales from products and services.
In Science this week: genetic target for urothelial bladder cancer treatment, and more.
At the Conversation, the University of Oxford's Michael Macklay writes that learning genetic risk of disease is a personal decision.
Two dozen scientific organizations have endorsed the March for Science, according to ScienceInsider.
Researchers in Japan describe a chimpanzee with a chromosomal abnormality similar to human Down syndrome, Mashable reports.