SeeThruEquity Issues Update on Pressure BioSciences, Increases Price Target to $2.18 Per Share

NEW YORK, NY / ACCESSWIRE / April 23, 2015 / SeeThruEquity, a leading New York City based independent equity research and corporate access firm focused on smallcap and microcap public companies, today announced that it has issued an update on Pressure BioSciences (OTCQB: PBIO).

The report is available here: PBIO Update Report. SeeThruEquity is an approved equity research contributor on Thomson First Call, CapitalIQ, FactSet, and Zack’s. The report will also available on these platforms. We also contribute our estimates to Thomson Estimates, the leading estimates platform on Wall Street.

“Although revenues declined slightly in 2014 versus 2013, this figure is skewed by the effect of a sharp drop in grant revenue from $0.46mn in 2013 to $0.03mn in 2014. We find the drop in grant revenue not hugely significant, especially in light of the company’s recent announcement that it has won a $1mn NIH grant payable over 2015 and 2016. More important in our view, is the fact that the core business trends at PBIO showed improvement during the year. In fact, revenues from products and services increased by 29% from $1.05mn in 2013 to $1.35mn in 2014,” stated Ajay Tandon, CEO of SeeThruEquity.

Mr. Tandon continued, “In light of what appears to be building momentum in its core products and services, as well as the completion of several key product enhancements, we are increasing our price target to $2.18 for PBIO. If achieved, the target represents potential upside of 560.6% from the recent price of $0.33. We now project 2015E revenue of $2.5mn, representing an increase of 81.9% YoY.”

Additional highlights of the update note are as follows:

Solid momentum developing in core products and services

PBIO displayed solid momentum in its core products and service offerings during 2014, with revenues in this area increasing by 29% to $1.35mn, versus $1.05mn in 2013. Consumables sales also increased YoY to reach $0.17mn. Total revenue of $1.4mn declined by 8.6% from 2013, largely due to the decline in grant monies, which, while important to the health of the company, mask underlying positive trends in the core products and services business. We see the momentum in product and services continuing for PBIO, as the company has begun shipping its next generation high throughput product line, the Barozyme HT48. We see the product, which can process up to 48 samples at a time, as having significant potential because it integrates the PCT-based sample preparation platform into modern laboratory operations that leverage robotic automation for high throughput handling and sample processing.

PBIO receives $1mn NIH SBIR Phase II grant

On February 19, 2015 PBIO announced that it had received a $1.02mn SBIR Phase II grant from the National Human Genome Research Institute of the NIH. The grant provides non-dilutive financing for PBIO, payable over two years, to support the development of a high pressure-based system for the preparation of samples for DNA analysis by next generation sequencing (NGS) methods. We view this as an extremely positive development for PBIO as NGS represents a large market opportunity for PBIO and was already a part of the company’s growth plans.

Positive outlook for robust growth in 2015

PBIO management articulated a goal to reach $2mn in revenue during 2015. The company believes the traction from its recent product introductions will enable PCT products and services to grow at a faster rate than in 2014 – when they grew 29% – and also sees growth in consumables. With the announcement of the NIH grant, the goal of surpassing $2mn in revenue seems achievable, in our view. We have forecast revenue of $2.5mn for PBIO in 2015E, which implies annual top line growth of 81.9%.

Increasing price target to $2.18

In light of what appears to be strong momentum in its core products and services, as well as the completion of several key product enhancements, we are increasing our price target to $2.18 for PBIO. If achieved, the target represents potential upside of 560.6% from the recent price of $0.33.

Please review important disclosures on our website at www.seethruequity.com.

About Pressure BioSciences, Inc.

Pressure BioSciences, Inc (PBIO) develops, markets, and sells proprietary laboratory instrumentation and associated consumables to the estimated $6 billion life sciences sample preparation market. The company’s 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 safely and reproducibly control bio-molecular interactions. To date, we have installed over 250 PCT systems in approximately 160 sites worldwide. There are over 100 publications citing the advantages of the PCT platform over competitive methods, many from key opinion leaders. PBIO’s primary development and sales efforts are in the biomarker discovery, drug discovery and design, and forensics areas. Customers also use its products in other areas, such as bio-therapeutics characterization, soil & plant biology, vaccine development, and counter-bioterror applications.

About SeeThruEquity

SeeThruEquity is an equity research and corporate access firm focused on companies with less than $1 billion in market capitalization. The research is not paid for and unbiased. We do not conduct any investment banking or commission based business. We are approved to contribute our research to Thomson Reuters One (First Call), CapitalIQ, FactSet, Zacks and distribute our research to our database of opt-in investors. We also contribute our estimates to Thomson Estimates, the leading estimates platform on Wall Street.

For more information visit www.seethruequity.com.

Contact:

Ajay Tandon
SeeThruEquity
info@seethruequity.com

SOURCE: SeeThruEquity

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