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Pressure BioSciences

The company also disclosed that it dropped plans for a $12.5 million offering of stock and warrants following a recent reverse stock split.

The one-for-30 reverse split is intended to increase the price of the company's stock, enabling it to satisfy the Nasdaq's initial listing requirements.

The revenue increase was driven by growth in sales of both instrument systems and consumables.

A 55 percent increase in the company's Q4 products and services revenues was softened by a 58 percent decrease in its grant revenues.

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.

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