Pressure BioSciences Inc's (OTC:PBIO) saw its shares move upward Thursday, as its agrochemicals subsidiary PBI Agrochem Inc received initial purchase orders for over $1 million of eco-friendly agrochemical products for delivery in 2021.
Three weeks ago, Pressure BioSciences created the agrochemicals division in anticipation of the planned asset acquisition of a agrochemicals products business.
The Company anticipates that the delivery and booking for most of the orders will occur during Q3 2021.
The incremental revenue from Agrochem represents a potential doubling (or more) of quarterly revenues when added to existing core products and services, the firm added.
PBI's CEO Richard T. Schumacher said, "with additional orders expected in the coming weeks and months, we believe Q4 2021 could substantially exceed the results of Q3 2021. Our new agrochem sales are expected to accelerate PBI's rapidly improving growth trajectory and should contribute substantially towards our planned transition to profitability by the end of 2022."
Pressure BioSciences,claims to be a leader in the development and sale of innovative, broadly enabling, pressure-based solutions for the worldwide life sciences and other industries.
Its products are based on the unique properties of both constant (i.e., static) and alternating (i.e., pressure cycling technology, or PCT) hydrostatic pressure. PCT is a patented enabling technology platform that uses alternating cycles of hydrostatic pressure between ambient and ultra-high levels to control bio-molecular interactions safely and reproducibly (e.g., cell lysis, biomolecule extraction).
PBIO shares took on five cents, or 1.7%, to $2.95
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