NEW YORK (GenomeWeb) – Pressure Biosciences reported yesterday a nearly 8 percent drop in third quarter revenues as increased instrument sales failed to offset a decline in grant revenues.

For the three-month period ended Sept. 30, Pressure's revenues fell to $535,334 from $580,334 in the same quarter last year. Instrument sales were up nearly 13 percent to $383,789 from $340,084 a year ago, but the increase was  more than offset by a decline in grant revenues to $34,385 from $98,882.

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