NEW YORK, May 22, 2017 /PRNewswire/ --
According to Market ResearchEngine the sample preparation market is expected to reach a value of more than US$ 8 Billion by 2024, or growing at a CAGR of more than 6.5% in the given forecast period. Sample preparation in analytical chemistry, refers
Due to frequent applications in the medical field, sample preparations devices are a segment of the medical devices market. As projected in a research report by Grace Market Data, the global medical devices market will see a steady growth over the coming years with sales revenue and international trade value reaching $543.9 billion and $289.2 billion respectively by 2020. This is driven by a growing aging population, increasing healthcare expenditure and technology advancement.
Pressure BioSciences, Inc. (OTCQB: PBIO) is the developer and seller of broadly enabling, pressure cycling technology ("PCT") - based sample preparation solutions to the worldwide life sciences industry. Recently the company announced financial results for the first quarter of 2017 and provided a business update, "Products and services revenue increased 16% to $525,998 for Q1 2017 as compared to $454,350 for Q1 2016. This increase was primarily attributable to an increase of 19% in the sale of instrument systems, from $332,016 in Q1 2016 to $396,095 in the same quarter of 2017. Sales of consumables also increased during these same periods, from $44,234 in Q1 2016 to $63,264 in Q1 2017, an increase of 43%. Grant revenue decreased from $56,128 in Q1 2016 to $25,359 in Q1 2017. We believe grant revenue will increase over the remaining quarters in 2017.
Despite this decrease in grant revenue, total revenue increased to $551,357 for the three months ended March 31, 2017 as compared to $510,478 during the three months ended March 31, 2016, an increase of $40,878 or 8%. This increase was attributable to increases in the sales of our products and services.
Operating loss decreased to $999,103 in Q1 2017 from $1,045,945 for the same period in 2016, a reduction of $46,842 or 4%. This decrease was primarily due to reduced R&D expenses combined with increased sales of product and services. Loss per common share - basic and diluted - was $0.18 for Q1 2017 compared to a loss per common share of $0.26 for the same period in 2016."
Mr. Richard T. Schumacher, President and CEO of PBI, commented: "Although pleased with the financial results of the first quarter, we are even more pleased with our operational accomplishments. During the first quarter, we made significant progress on our clearly-defined 2017 goals to (i) develop a clear and sustainable path to profitability and financial self-sufficiency; (ii) enhance and expand our current sales and marketing capabilities with the hiring of a minimum of four field sales directors, plus an external lead-generation service and internal operational personnel; and (iii) achieve an up-list to the NASDAQ Stock Exchange by or before the end of the 2017 second quarter. We believe that continued progress on or the achievement of these goals will position PBI to be a stronger, more valuable company, which in turn should increase shareholder value, which is our ultimate goal."
Danaher Corporation (NYSE: DHR) designs, manufactures and markets professional, medical, industrial and commercial products and services. One of the Danaher's subsidiaries is SCIEX, a company focuses on science analytical technologies. Earlier in 2016 Pressure BioSciences announced an exclusive co-marketing agreement with SCIEX. Under the agreement, the companies will jointly promote Pressure BioSciences' PCT-based sample preparation systems and SCIEX's mass spectrometry equipment, with a focus on improved sample preparation. Danaher offers a comprehensive product range for each step in the pathology process, from sample preparation and staining to imaging and reporting.
Qiagen NV (NASDAQ: QGEN) on March 30th announced that it has joined CANCER-ID, a public-private consortium aiming to establish standard protocols and clinical validation for blood-based biomarkers in lung and breast cancer. "QIAGEN is pleased to be joining CANCER-ID to help develop standards and conduct clinical validation to enable broad adoption of reliable molecular analyses from liquid biopsies… Creating standardized methods for liquid biopsies, as well as standards for Sample to Insight workflows, is key to enabling routine with the highest quality samples, up-front processing and links to analytical tests that are critical for achieving actionable insights. As a pioneer in developing liquid biopsy sample technologies, we look forward to sharing QIAGEN's experience with our colleagues in CANCER-ID and contributing a wide range of solutions that can help to improve outcomes for cancer patients," said Markus Sprenger-Haussels, Senior Director and Head of Sample Technologies in the Life Sciences Business Area.
PerkinElmer, Inc. (NYSE: PKI) earlier in January announced the launch of its Vectra® Polaris™ Automated Quantitative Pathology Imaging System. This new multi-modal tissue imaging system enables researchers to gain a deeper level of understanding of disease mechanisms related to new cancer immunotherapy approaches. "From basic research to clinical research studies, scientists continue to seek advanced imaging technologies to better analyze and understand disease mechanisms," said Jim Corbett, Executive Vice President and President, Discovery & Analytical Solutions, PerkinElmer. "The Vectra Polaris system is an innovative solution that helps further the exploration of new cancer immunotherapy approaches to help unlock the promise of precision medicine."
Boston Scientific Corporation (NYSE: BSX) a developer, manufacturer and marketer of medical devices that are used in a range of interventional medical specialties. On May16th the company announced positive results from the REPRISE III clinical trial, presented at the annual EuroPCR Scientific Program, in Paris. Data from the study demonstrated that the LOTUS™ Valve System, a transcatheter aortic valve implantation (TAVI) system, showed superiority over the CoreValve® TAVI System platform for the primary effectiveness endpoint and non-inferiority for the primary safety endpoint. "We are very excited by the performance of the LOTUS Valve system in this trial as it represents a crucial piece of clinical evidence for the LOTUS platform," said Ian Meredith, M.D., executive vice president and global chief medical officer, Boston Scientific. "We believe that these data, along with upcoming findings to be shared from the RESPOND and RESPOND Extension studies, can further illustrate the unique clinical benefits that this system offers physicians for the treatment of patients."
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