There have been a number of stocks that have managed to make a strong move over the course of the past week and one of those is the Pressure BioSciences Inc (OTCMKTS:PBIO) stock. In the past week, the stock has managed to emerge as one of the notable gainers and clocked gains of as much as 16% during the period amidst heavy interest.
Hence, it could well be a good idea to take a look at some developments in order to make your mind up about the stock. As it happens, the company of the pressure-based instrument is actually in the news today after it announced its financial results for the fourth fiscal quarter and the full fiscal year 2021. Both those periods ended on December 31, 2021.
In the fourth quarter, the company managed to bring in revenues of $315,199 and that was considerably higher than the revenues of $164,702 that it had generated in the prior-year period. That reflected a year-on-year rise of a staggering 91%.
The company noted that the double-digit percentage growth in the products and services segment had led to explosive growth. In the prior-year period, instruments sales had remained at $0 but in the 2021 fourth quarter, the company clocked instruments sales of $115,784.
In the full fiscal year for 2021, Pressure BioSciences managed to generate revenues of $2,002,365, and that reflected a year on year rise of as much as 64% from the $1,220,591 in revenues in the fiscal year 2020. On the other hand, the sales of instruments for the fiscal year shot up to $1,105,268 and that was 94% higher than the $568,457 that was generated in the 2020 fiscal year. The operating losses came in at $4,185,147. In 2020, it had been $4,585,787.
Jeffrey N. Peterson, Chairman of the PBI Board, set the stage for PBI’s exciting future: “The PCT and BaroFold technologies have provided important early opportunities for commercial traction, as PBI forged scientific understanding and acceptance for its high-pressure platforms. Building on multiple peer-reviewed opinion leader scientific articles and presentations, accelerating instrument installations, and expanding paid research projects, these platforms are expected to generate important sales growth in 2022 and beyond. In addition, we believe the UST platform is opening up a new, game-changing growth trajectory with its promise for revolutionizing massive global markets from pharmaceuticals, nutraceuticals, cosmetics, agrochem, food/beverage processing, and more.”
