A Massachusetts-based micro cap just announced their first quarter financial results and provided a business updated. The company reported a significant growth in total revenue of +121%, with Medical Instrument sales up +235%. Shares of Pressure BioSciences Inc. (OTCQB:PBIO) rallied on the news.
Pressure BioSciences is engaged in the health-care division. It focusses on solving the problems inherent in biological sample preparation. The company has developed and patented a technology platform that can control the sample preparation process. This process, called pressure cycling technology (PCT) uses alternating cycles of hydrostatic pressure between ambient and ultra-high levels.
The company is also the distributor of the Constant Systems (CS) cell disruption equipment, parts, and consumables. Its products include Barocyclers, External Pressure Calibration Device Kit, MicroTubes, HUB High-Pressure Generators and Accessories, RF1700 Mini Ultra-High Pressure Pump, High-Pressure Cell Disruptors from Constant Systems, and SHREDDER Tubes, Service Contracts and others.
Traders were bullish on the news as shares traded up to an early session high of $2.09 (+20.11%). This move is potentially a move toward an upward breakout from the multi-month trading range the stock has been stuck in.
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