Key Developments: Pressure Biosciences Inc (PBIO.PK)
0.31USD
18 Jun 2013
$-0.05 (-13.89%)
$0.36
$0.36
$0.36
$0.31
31,965
28,079
$0.63
$0.15
Latest Key Developments (Source: Significant Developments)
Pressure BioSciences Inc Appoints Conrad F. Mir as Chief Financial Officer
Pressure BioSciences Inc announced that Mr. Conrad F. Mir has joined the Company as its chief financial officer (CFO), effective immediately. Full Article
Pressure BioSciences Inc Reaches Agreement With Investors On Initial $600,000 Tranche Of $1.2 Million Above-Market Private Placement
Pressure BioSciences Inc announced that it has reached agreement with seventeen investors on an initial tranche of approximately $600,000 of a $1.2 million private placement. The transaction consists of the sale of approximately 120,000 units of a newly designated series of preferred stock and warrants to purchase Common Stock (Series G). The price per unit is $5.00. Each unit consists of one share of Series G Preferred Stock (convertible into ten shares of Common Stock at a Common Stock equivalent price of $0.50 per share) and a Warrant to purchase five shares of restricted Common Stock. The Warrants are exercisable for a period of three years, at an exercise price of $0.50 per share. Of the approximate $600,000 initial tranche, $485,000 was received in cash and $115,000 will be from the conversion of debt. The initial tranche is expected to close by July 6, 2012. One or more additional tranches in the private placement are expected to close on or before August 31, 2012. Funds raised in the offering will be used primarily to support the Company's pressure cycling technology ("PCT") product line commercialization program, which the Company believes has been gaining momentum as the year has progressed. Funds will also be used for general working capital purposes. Full Article
Pressure BioSciences Inc and Target Discovery, Inc. Expand Strategic License Agreement And Collaboration Supporting TDI's Planned Offering Of Personalized Medicine Clinical Diagnostic Services
Pressure BioSciences Inc and Target Discovery, Inc announced the signing of expanded strategic technology license and supply agreements. Under these agreements, TDI has the right to use PBI's patented and enabling Pressure Cycling Technology Platform for their planned entry into the clinical diagnostics testing market. The planned commercial diagnostic services will initially target what the companies believe are critical, unmet needs in treatment selection guidance for ovarian cancer. Until, PBI's PCT Platform has been available on a 'research-use-only' basis. In 2010, the companies announced a collaboration to combine PBI's PCT Platform with TDI's reagents to enable the extraction of membrane protein biomarkers from human tissue. Such biomarkers include specific modified proteins that have heretofore been difficult to extract from tissue in a form suitable for diagnostic testing. The companies believe that the ability to rapidly extract and recover diagnostically and commercially useable protein isoforms from cell membranes is unique to PCT and the TDI reagents, and that this capability positions the companies with game-changing abilities to exploit this critical class of membrane proteins as diagnostic biomarkers. Full Article
Pressure BioSciences Inc Common Stock To Begin Trading on OTCQB Tier Of OTC Marketplace
Pressure BioSciences Inc announced that its common stock will begin trading on the OTCQB tier of the OTC Marketplace effective on April 5, 2012. The Company's shares of common stock will continue to trade under the symbol PBIO. The Company's common stock will cease trading on the NASDAQ Stock Market effective with the open of business on April 5, 2012. As previously reported, the NASDAQ Hearings Panel required the Company to evidence compliance with the applicable $2.5 million stockholders' equity requirement and the minimum $1.00 per share bid price requirement to maintain its NASDAQ listing. As the Company was unable to do so, the NASDAQ Hearings Panel determined to delist the Company's common stock from The NASDAQ Stock Market. Full Article
Pressure BioSciences Inc Enters Into Collaboration With Henry C. Lee
Pressure BioSciences Inc announced that it has entered into a collaboration with the Henry C. Lee Institute of Forensic Sciences (the HCL Institute). As part of the collaboration, the HCL Institute will evaluate the use of the Company's enabling Pressure Cycling Technology (PCT) Platform for the extraction of DNA and other biomolecules from such diverse and difficult-to-analyze samples as bone, hair, plant tissue, pollen, and finger nails. All of these samples can be important in a crime scene, cold case, or archeological investigation. However, current methods used to prepare difficult forensic samples for analysis are often inadequate or even unavailable. Full Article
Pressure BioSciences Inc Closes $800,000 Private Placement
Pressure BioSciences Inc announced that it has closed on an $800,000 private placement with the sale of units consisting of a total of 971,867 shares of restricted common stock and 485,937 warrants to purchase restricted common stock. Seven current investors, including the Company's CEO/President, the Company's Chairman of the Board of Directors, and two investors from the Company's November 2011 registered direct offering, participated in the private placement. The price per unit was $0.8025 for units consisting of 789,350 shares and 394,677 warrants, and was $0.9125 for units consisting of the remaining 182,517 shares and 91,260 warrants. Of the $800,000 invested in the private placement, $412,453.33 was received in cash and $387,546.67 was from the conversion of outstanding principal and interest on convertible promissory notes issued by the Company in 2011. Each unit consists of one share of restricted common stock and a warrant to purchase one-half share of common stock. The warrants are exercisable for a period of five years, commencing on August 7, 2012, at an exercise price of $0.74 per share for the purchasers of the 789,350 shares, and $0.85 per share for the purchasers of the 182,517 shares. Ladenburg Thalmann & Co. Inc., a subsidiary of Ladenburg Thalmann Financial Services Inc. (NYSE AMEX:LTS), acted as the exclusive financial advisor for the transaction. Full Article
Pressure BioSciences Inc Announces Global Co-Marketing/Selling And Instrument Co-Development Agreement With Digilab, Inc.
Pressure BioSciences Inc and Digilab, Inc. announced that they have entered into a co-marketing/selling and research and development agreement. The companies intend to co-market and sell their respective product lines worldwide, including in industry publications, at scientific meetings, on each company's website, through common collaborator studies, at key industry trade shows, and in visits to customer sites. PBI and Digilab also intend to explore ways to co-develop new instrumentation, accessories/modules for existing instrumentation, and consumables that combine the robotics and high throughput capabilities of Digilab products with the extraction, protein digestion, and other advantages of PBI's Pressure Cycling Technology (PCT) Platform. Full Article
Pressure BioSciences Inc Reaffirms H2 2011 Revenue Guidance
Pressure BioSciences Inc announced that for the second half of 2011, it expects revenue to be significantly greater than total revenue for the first half of 2011. Full Article
Earnings vs. 
Estimates
Thomson Reuters is the world's largest international multimedia news agency, providing investing news, world news, business news, technology news, headline news, small business news, news alerts, personal finance, stock market, and mutual funds information available on Reuters.com, video, mobile, and interactive television platforms. Thomson Reuters journalists are subject to an Editorial Handbook which requires fair presentation and disclosure of relevant interests.
NYSE and AMEX quotes delayed by at least 20 minutes. Nasdaq delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here.
