Pressure BioSciences officials said this week that the firm remains on track to bring the its cash-burn rate to below $600,000 per quarter in 2009, following a restructuring of the business at the end of 2008.

The comments were made as PBI released its full-year 2008 financial results, which showed that PBI's total receipts increased 32 percent to $852,263 from $645,870 in 2007.

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