Skip to main content
Premium Trial:

Request an Annual Quote

Pressure BioSciences Blames Snow Storms for Drop in Q1 Revenues


This story originally ran on May 19.

Pressure BioSciences announced this week that total revenue for the first quarter of 2010 fell 5 percent to $290,813 from $306,762 in the first quarter of 2009.

Revenue from sales of the company's Pressure Cycling Technology systems dropped 15 percent to $189,150 from $222,142 in the year-ago period. The balance of the company's revenues, derived from grants, increased to $101,663 from $84,620 in the first quarter of 2009.

Joseph Damasio, corporate controller, partially attributed the drop-off in revenue to harsh winter weather at the outset of 2010.

"Our first quarter results were also adversely affected by the two historic mid-Atlantic snow storms of February 2010," he said in a statement. "We believe that the loss of two full weeks by one-half of our outside sales team was the major factor resulting in the first decline in year-over-year quarterly revenue since the second quarter of 2008."

Damasio added that "greater than usual" patent-related expenses contributed to wider losses for the quarter. The company reported a net loss of $911,325 compared to $224,246 in the first quarter of 2009, while cash burn increased to $750,000 from $655,000.

Pressure BioSciences' first-quarter R&D spending dipped to $294,141 from $307,224. As of March 31, the company held $1.6 million in cash and cash equivalents.

Pressure BioSciences' PCT systems control bio-molecular interactions by applying cycles of hydrostatic pressure from ambient to ultra-high levels. Since launching in 2005, the company has largely focused its efforts on developing the technology for use in sample preparation for genomic, proteomic, and small molecule research.

In the first quarter of 2010, the company installed 10 PCT Sample Preparation Systems, the same number as in the first quarter of 2009.

The Scan

Quality Improvement Study Compares Molecular Tumor Boards, Central Consensus Recommendations

With 50 simulated cancer cases, researchers in JAMA Network Open compared molecular tumor board recommendations with central consensus plans at a dozen centers in Japan.

Lupus Heterogeneity Highlighted With Single-Cell Transcriptomes

Using single-cell RNA sequencing, researchers in Nature Communications tracked down immune and non-immune cell differences between discoid lupus erythematosus and systemic lupus erythematosus.

Rare Disease Clues Gleaned From Mobile Element Insertions in Exome Sequences

With an approach called MELT, researchers in the European Journal of Human Genetics uncovered mobile element insertions in exomes from 3,232 individuals with or without developmental or neurological abnormalities.

Team Tracks Down Potential Blood Plasma Markers Linked to Heart Failure in Atrial Fibrillation Patients

Researchers in BMC Genomics found 10 differentially expressed proteins or metabolites that marked atrial fibrillation with heart failure cases.