ORLANDO, Fla., May 28, 2008 (PRIME NEWSWIRE) -- RedChip Visibility, a division of RedChip Companies, Inc. has issued a first quarter 2008 research update on Pressure BioSciences, Inc. (Nasdaq:PBIO), a life sciences company focusing exclusively on the development and commercialization of pressure cycling technology (PCT), which has multiple applications, including genomic and proteomic sample preparation, pathogen inactivation, the control of chemical reactions (particularly enzymes), immunodiagnostics, protein purification, and food safety.
Harry Russell, MBA, RedChip Research Analyst wrote in the report:
"Given the expansion of PBIO's sales force, which now stands at seven people, and the timing associated with an average sale cycle (3-18 months with an average of 6 months), we expect an acceleration of both overall placements and consumable use going forward in 2008.
"Currently, the lion's share of placed devices is in the form of the Barocycler NEP 3229, which carries a higher sale price and should drive higher consumable use versus the Barocycler 2320. Going forward, we expect this placement mix to shift as smaller labs will be more prone to buy a less expensive, more portable device. However, we also expect this to have an impact on both the number of devices rented/leased versus those sold and the average number of months in the sale cycle. This shift, coupled with a meaningful expansion of the sales force through 2009 and beyond, should drive the number of placed devices and the amount of average PULSE tube usage per device," Russell continued.
"We are reiterating our 'Speculative Buy' rating on PBIO with a 12-month price target of $8.50," he concluded.
To receive a complimentary copy of the RedChip Visibility 1Q08 Research Report for PBIO, please visit: http://www.redchip.com/visibility/about.asp?page=vreport&reportid=109&from=05282008pr
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Disclosure
None of the profiles issued by RedChip Companies, Inc., constitutes a recommendation for any investor to purchase or sell any particular security or that any security is suitable for any investor. Pressure BioSciences, Inc., paid RedChip Visibility, a division of RedChip Companies, Inc., $28,000 for RedChip Visibility Program services, which included the preparation of this equity research report. To the fullest extent permissible under applicable law, RedChip Companies, Inc., will not be liable to you or anyone else for the quality, accuracy, completeness, reliability, or timeliness of this information.