Pressure BioSciences (PBIO) 18 Aug 222022 Q2 Earnings call transcript

Good afternoon, ladies and gentlemen, and welcome to the Pressure BioSciences Second Quarter 2022 Investor Call and Business Update. [Operator Instructions] It is now my pleasure to turn the floor over to your host, Richard Schumacher, President and CEO of Pressure Biosciences. Sir, the floor is yours.

Thank you, Matthew, and welcome, everybody. Welcome to the second quarter financial review and business update in year 2022, believe it or not.

constitute Litigation within Reform may the meaning remarks Securities Private Act following forward-looking the statements of The of XXXX.

known Commission. with cause statements. updates include, or filings any detailed or disclaim the achievements based. any company's expressed involve We the or factors, Such Exchange from any to any expressly our to any factors obligation statements and and publicly forward-looking implied performance uncertainties in different time risks, conditions were events, from Forward-looking or or circumstances results, and undertaking be which or materially expectations time may those of in change in reflect by any which Securities actual on among achievements performance statements to change or others, future results, statements to the company release unknown other to such revisions such forward-looking

marketing been happy companies a John was to couple storied recall, back several as today ago sounding the of on welcome then took a a Marketing very on I'm programs. since Director in some number involved CEO also companies will a and small he's different has background of multibillion-dollar helpful and you years to me as some over of call, first started running and the joined ago board John, some and Sales So is of things and and been years has agenda as companies multi, us multi, Hollister.

John, back. So welcome

and Appreciate it. to to to the talk here be Excited shareholders.

to especially questions. update far results. then quite there of And we're open everybody And to start the accomplishments, been the quarter exciting in second which business up some second follow brief up in highlight few meeting, quarter. a a of to and by a to discussion general thus the accomplishments we'll have So then today's XXXX, going some for then I want have XXXX with

different I've first step It to several us get said focus highlights, couple and I've over to in on it last Ohio to I time, and had. clear year of Ultra Ultra than more on this said Shear And as generated become staff So talked a of set clear said that want all we're University. people also this the started Shear. to about every is to call, more we've I've it just going became writing year more year, very got and the the financial year and it's more the past State very with this it, excited is we said more also annual it This years I we've when a and technology. our -- about stage. Talked went, any exciting. the partner, data we went times, further on ever more more

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X just in China, and develop the they that are that the diseases. -- X areas cancer. in up just technology the more need all that to X to customers disease, and different all and to Australia -- that they learn diagnostics inside wonderful of cycling published an past X groups, X leading else, in cells these talked drugs antibiotics about opening molecules help using about means develop on their we exciting the they're world very macro as over us everything have pressure study those in to fight getting doing about months, the have the as And and XXX instruments. of XXX We work different all example, some in cancer with the And U.S., in

a as choice out come the X months publications highlighted So that amazing last X have in used. that that prep had we sample they in we've were

believe will of has day next don't day Ultra darn but believe not So yet years are or the think come. I in but weeks, we months about we I whose the still happen this, in couple come, too because technology a Shear it's excited it's greatly Technology. going to

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to cycling. the that's is in Ultra our pressure company, XX% in Almost So forward. else more and have we FTE of might --combined that's quickly one working better Shear everybody working move Technology I'd say

anything to want John, do that? you to add

only form of moving food amount then businesses And but it, that a nanoemulsions recently of pharmaceuticals, of recurring historical will the these been that cosmetics, we've frankly, stress that markets, more in the Yes, number including revenue model processing, chemical about applicable, but of markets a Sorry different. sale be the about consumable comes us, is, about around talking other markets the businesses available to of would. work marketplaces, And recurring entirely all that of a agrochemical from I'd soon is number are CBD UST from -- business that. it's we're but whether that the you lot of this products. But businesses. are and hard where talking represent enthusiasm to fact with could small what we a very be and I the there's get

So each talked fact, business. you'll those, when plus just year companies coming and we what additional that which the following year with mean in and likely from about contracts in announced, we about the is revenues, while ], will these it's following customers, year other that talk and being that have the products launched see base those we in to the add recently to we the year we [ new actually that of

exciting So us. for extremely

the I extent, this early going into burners. BaroFold going front still that little can We off much understand, the hope, why the when all pay talk it. cycling of all We customers. forward, a Ultra So certain to XXXX to that pressure XX% them are efforts decided of of related we've We and need still bit of service still they we work to But to a all pretty them Shear. you move new technology year and our were going we have attention.

to But generally last same close background, to most grow numbers, were were to the were in pressure because quarter, couldn't to come that that numbers that attention when last is business. the decent into technology of for I But which $X.X that's cycling paying quarter we the close to we we're time, able a putting now. little for we such million year's with cycling. effort to enthusiastic able -- we very at disappointed were year's that revenue that So know our little match come pressure up or we it

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revenue for the The the quarter roughly of $XXX,XXX. XXXX. compared So revenue XX% $XXX,XXX to second down quarter to from is second

$XXX,XXX $XXX,XXX. sales Our XX% to down were from instrument

and sitting and we customers. the consumable off pull because last phone is hey, and publications, we from nice, months, out get want read, calls saying, when the on they they're other our to and do get XX% publications the we shelf, were I think On of in when people hand, that the increased all other nice these our can to doing. it which that sales, came that's ship is And couple very they shelf what it

with a new it And additional with they're up. starts just because consumables about ends finding instrument so it. people or it out then to generally, wanting up instruments going buy And

the consumables. a of we sale increase So had XX% in

we've going did we announced Our been much today. million flat, $X of slightly each we signed dramatically. that have we that BaroFold We've opinion, signed. And It's been million business think our do very in going them of the UST. That's to clear don't clear BaroFold all for value worth, over Again, both forward we year. we've $X a of to change these now to going one with and they're contracts But business, $XXX,XXX what on change. very -- was quarters. the X

As pricing take we've months should correctly. in months, recurring takes or on John a pointed it because low, X are to revenue be takes history judged out, XX But be we make. our months we're if haven't contracted we built to X know that if the it it XX will product costing going sell whether to right numbers and to don't our the then if the numbers and months, hopefully have

numbers different in forward. and the be will UST particularly So much going BaroFold XXXX

some disappointing. There putting or is our it. sales Ken into Director met of we warehouse. putting call of -- point new this the of of all, very sales agrochem, this aware effort We effort phone calls, have with year. and The to as out Business do last had John no we this We're had months, we're I inventory me, tomorrow. who There phone is no e-mails new we We're because still our had but do, in meeting enough a we're Reno, over -- year. few a remains a Micciche, lot very lot I and expectations. is Development, in at last Nevada people not

We some know of have that this inventory, of with a moving some going could people couple it. we start that we're thoughts to chase and

a disappointment little of end it's us. at has very light it a been but big to the bit the tunnel, So a of

had loss increased that XX% quarter quarter the last year. is than was a to we lot normally year items about see. but for the loss less helped which us We over single out operating and last million, less some The than $X last what operating

good that So news. is

release to going look, back thought is -- XX. Long April Ultra to to able I we into on they Ultra available going Shear. all Shear. access XXXX that but Shear try fall something and I to of before all that we for run an -- they were to an were Ultra terms you go theme, the early to enough progress as of So this theme, program, thought year, have one by were we've all make highlights around access we have early program for guessed, in -- hands We by -- the XX April able on announce putting deck

Shear Ultra Remember, We is have issued now patents. X patented. our

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it -- we is But developed. that we've a method

Our guys brilliant have guys developed. our --

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body, biology is or whatever whether available So or is, of very animal active plant. ingredient to that human it's now the the

and excited that program. progress very announced such we we made got access we early So

us needs development CBD and age of that he done, of -- wants at the during he Montana. a what announced he's couple be agreement feels helicopter with back, knows a a War, manufacturing knows Gentleman weeks he Just first later, make Safer give he he to to our we Medical product. now and was who asked pilot Vietnam to and

before. It didn't in -- our didn't opinion, exist it

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to building. be So going that's what we're

deal, of So We'll to we'll We'll the on May year. we'll and we next Medical that go those. announced we runs, those. X, for once the this and accepted, pilot material at year the do worth announced a year to year. for of the next runs million $X make charge use Safer on couple we'll a pilot next least are sold thought -- some pay large with into money But very expect run that be rest we

about billion Peas that they protein very because did. plant large they're talked we to very there our use global grow protein average plant anywhere they're -- XX, wonderful Ultra looking but for go publication protein about and The grow. to And Ohio getting easy quickly. is Ohio extract to and that available, Technology, a grow, to plant Shear the the can't anywhere. talked plant protein. of proteins good from are TV, the -- from cheap positioned market, Ultra being ads, the everywhere, was they growing out radio, partner, at well peas, using State hard did for very they ability extract problem it's June Shear $XX State, protein in extremely a is without It market protein and peas.

proteins And protein so $XX company our we talked to out. those this about the of and in Ultra uses billion it market, positioning Shear get huge plant

of another -- production for launch This Colorado. $X we another about is We for think, announced out of, group. the group million

announced over had of -- couple So we've announced August, this that And in month, a announcements. in we've July. we

have that one to were CBD the need a approval. out The license give was first to very you only able to one Massachusetts, of get important state we that we manufacture In and once they products, state hemp-derived those year. a have

with group was a license. were onto can We our approved. manufacture under very license, And done, And we have license. who very were has we so and friend we he to add met was close the that happy -- his we and a his facility

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said licenses And the He the got distribution on right and waiting to product. He's come for age, and up. dispensaries. he us. signed and now contacts. for work we channels got got all contacts us been been he of hasn't waiting met and the very the we're and he's X.X all sales the He years And we're sales that excited. he's and He's need he's and got partners, the he's but much right to under, ago, date, we've done set

can John, on add you to some?

to just want Yes. underscore. I

good the they that are Technology, UST in job so also the inside revolutionary think did We're immersed. molecules often improving reminding comfortable and we know others with we listeners really Shear is -- we're better Ultra but really technology, this what I so forest get but of existing is, so we're absorbed because who active about that or new, those what for you in or a are consumer oil-based in we these the into are them And benefits so absorbed, a can and or predictably dose your we these absorbed. probability a that changing dog have the deliver humans that or are you're that little, can you be get. animals in plants them higher truly in tiny plants to particles typically get more expecting agents you way or because that

is of Some it optical.

they're pointing small longer they we the not and gets They're typically can no companies to was not a attractive Ric that transparent. it's change that When can whether become beverage clear B put vitamin -- is so reflect you them in light, which particle things water, and to As out, are when actually like another talking or be a clear, remain vitamin -- of they about astaxanthin some -- an form of the and an happens BX. you're translucent. oil

You cannabinoids. can the also apply to

same is true skin. the for The going across

a great getting go do it. very improve is repellant particles that almost of the skin the all deliver to Your different things for we will anything way systemic small a or is can delivery What subdermis into products. even with medicines,

far really So and applications this are the reaching exciting. of

of by able in potential And attended one we benefit happen for in have recently the to they of companies different beverages. different will deliver to Chicago. they mobbed find meetings, being to to been in they're which we date. a looking couple for This unable were And cannabis-focused because what San looking beverages, know their basically have Francisco, one we be what

balance the customers. changed received And was year our Ric, exciting. no in reception super I part, small from the just that these in it it's he we and the UST So growth of for terms of guidance know the

So with it return I'll that, Ric. to

went after And were I a could Chicago X was see and went, we the Jeff. in And by had it have that to we we our John, Francisco put could -- probably it's remind And San X. contracts. out X/X went maybe end wow, XX. Chairman, if looking and doubled can press that couple we basically we already me with our we to thought, going, X. dozen not year. you we we think which the find release, before of guys said of with get We'd So John -- We

from people. lot -- went of with to with met booth I booth met We and a

not appreciate times, many were getting of been seeing saying, don't market your -- same some as way And we no, nanoemulsions. we've system the receptive We and the learning what they on a hope and about it's very isn't. it have

I what say, soon set. they show in run into about don't as I just -- don't set, the they thinking then they'd we pulled we no, it. we're and but quality well, all and pocket I why out had we said, they're it to sometimes, of talk And see no, people chuckle talk let's nanoemulsion my So we all them And the who as sample, said, have, this? then about oh

probably refine the right million one material we go. are now, and label ready, the certainly up way this least we're each we to we at XX to said contracts. they're vials, doing contract, and they think came we're press either said more looks $X giving saying, set, or or think okay, each giving -- vial last sell in So them like back be we because that week, all them I sign And bulk think and could release, then bulk in going the we to worth contract in this, will we we and it one

now have the it's stay plant-based. use nanoemulsion we would It's all other that one you our that green, -- the They way And route. completely didn't are completely say -- not we using go year nanoemulsion be is and that using guys a we've couple Everything expert It's those -- stable have in to do to basic spent want any people to go I'm chemicals It's a some these very to to chemicals It all of anymore. the And in formulations. from chemicals developing we've a natural. was where learned developing from of some but my ability that use to will. of gone don't that -- natural. if easier help is we're where these to quite we've proud start formulations. spend to

we a of we're all that lot out and found route done sure and we with We've very very have. and of what started happy that. we're of replacements, testing, We

can continue real are ready And to say contracts. I more. go out need year. right And and to get we announce don't be surprised that we we next that to contracts now if fulfill So these are

We see a and it's that Dr. Ting work a real this from a contracts to and but exciting have to instrument ahead us turnaround them, and work John in Lazarev of of and it, you so this center. people an Dr. It's major and have and whomever hard do other once of lot fulfill these you've to are would to to try do sell cancer going work. to But lot an got instrument got some good. very

Ultra than sale -- -- PCT. significant The Shear different. is dollar is It's is doing And is recurring the very, more tremendously in very the it's PCT. revenue of is it in good. amount it than tremendously more

We animal are and we be able to make our and friends need. humans that our and things and for plants on more the better nutraceuticals developing bioavailable us a way and absorb drugs to the the

to and faster go. -- to a good it's get lot we're doing -- want where but it's So we to

to I Matthew, turn there to that, if see it with over to be So questions. want happen you any and

from Instructions] Tree from Gary first question is Plum [Operator Your Zwetchkenbaum Consulting. coming

with Ken, Farms John Westlake. and John CBD Ric, Congratulations, today's on contract and Canopy

You estimate for XXXX. incremental million revenue $X in

months all over and for sales increased these looking and long-term recent margins quarters? recurring impact coming a the How PBIO revenues As revenues increased did investor, we're margins. and nanoemulsion

Well, sales Gary, yet. no there's

You asking how will they impact? you're said how -- the

Yes.

and huge you be can margin need you good. lot of excited very, from need, might a we very and good know now, a will very right They're with Our margins that best-in-class fix are sales areas delighted. and for get We margins. X Shear not there ask feel years X a globally Ultra now. years be it a But it. you XX because incredible. may When fix years what and in problem, They're a we people have can there's you our Ken The or Technology. problem we are or

buy experiment. couple terrific hundred of they're -- consumables right -- customers And now. and an margins the one a not be Shear, instrument. the terrific in buying run instrument. also PCT. buy to case for their machine and we of But buy in case We're they revenue So they don't the the are are -- that's the should But Ultra selling not because

our We -- and a California, building one tolling building it setting out Jeff to here. going to we're Peterson, of this in be we Chairman, where facility Coast we're system on everything laboratory to easier because have doing Coast, will a lot of out also in are done. rather lot a a be here Easton, needs here. We're be It'll than the done East in up space Mass, West be

talking X put back so the on per big. maybe we even can be in of a margins someday look I'm year, from that are of the the I'm future. X on terrific. the should $XX,XXX and Xs volumes a that be back that. The And not month, try $XX,XXX would per talking purchase So doing or we order very When you to get to PCT,

But we take us when the now, to million doesn't to maybe million people we're -- the looking year I think are and right a looking X or get So $X giving year to look that business. us at I at forward figures. that think day $X that that a groups of

X is announced exciting what's Ric, deals. X that recently you or

of at were you X you conferences year. another You the that recent customers, end of meetings at and said the by or had talked or you X number having more about recent a

You million-dollar these talking sales, mentioned we're are revenue. that recurring and

more. the look could recurring revenues, about at exciting. hearing I this and change very what and to margins So we're is forward increased this looking platform

should We be -- don't -- people will that we like. add thing. Gary, the went said we we So out in year, year We have guess X into We've going more of something by the of say absolutely running one end our think some and into a will fourth the the black We profitable releasing quarter, we we I lawyers I of this be black by into should on XXXX. firmly believe did next well the end limb. next getting year.

of just it. it's of here, lab in curcumin. change curcumin. an chance lot bought our Wow, got at buy that's wonderful into A one a And going We We've lot advantage get curcumin. the it. they We come back amazing UST. lot say, we're is in will processed did when of by We're taking. our look take and This what of data. taking every week to and of people take guys out just these a the it something. future when exciting they're everybody, everybody's But stars hey, they technology. did people And don't a to

I'm to that partnership forward farms. that exciting going you today That's seeing a forward. very the And looking announced Canopy results with CBD of

Westlake, go list years. a in sales human in known do to is that start as on going -- bulk got very talking for his go set I've vials to control. own or it has out it people people to -- like and it's once amazing has already up vials. the that It's I use go for for of buy products. out John We're partner going out not material mean being. John label to going want things under and channels John have has their lucky it's for Westlake. making product, distribution He the white so amazing hundreds. to X.X contacts. an that want to other in him do it we He the got door, an He it

[Operator Instructions] from Fitzgerald Tony Capital. from is Your Axiom next coming question

UST? can by have mechanism claim produce. of make or transdermal a the I good products I you'd And was been could that scientific on UST of had studies academic wondered as description that your -- processed bioavailability that Ric, call. on based any intrigued job if using to delivery the

of So us we most scientists, understand here. -- we're

in -- by understand essentially therefore. more understand literature point bioavailable, and more are more, Tony, getting others that to year, a We we and great shows more water soluble it's a of maybe importance And any stable, But last places in So the John probably, nature just data. and into I more hundred nanoemulsions the even and talked data. where have importance of it specifics, question. without the can we

lines. those for people year we're priority generate data to generate that high up moving this work with minds a in data, our try to to So along to to certainly

it -- -- it leave that. But on deaf at hasn't it ears. I'll is So fallen

a you've anything? want number You've bioavailable of in John, companies to you done in. add do been that studies

Yes.

and, thank question the Tony, you opportunity. for the So for Ric,

And So how background FDA committed about or very whether how having to to, able performs product to works. the pharmaceuticals perspective, so whether from bioavailability predominantly, orally I'm your are is transdermally. we being and it's in information a to to used product demonstrate totally particularly, it's my present our

very will long, So We this, of be We us area. to questions very lateral consistent of present. at today like in be the process We're ] particle Actually to that able we're confident if unfortunately answer able crossing dial is able ] you we're particle where, to, and even perform lots absorption now will so size. improved. have that hopefully, new from sizes areas. the sizes one expect know to we our we're we'll data [ cause our but get place dermis can the product publications buckle a don't [ before because in at and we that have be we absorption that of to that the demonstrate

marketplace being the delivered in different we being small of lot because intraocular, imagine actually such that particles intranasally, of in way are being a delivered better than nature today. can of products a the they're Just there ways

from question from Your Saranow Mitchell next Saranow is coming Group.

This say, [ And with impressed for, know, be you're very I've said you is XX Bye, And It's finally, remarkable ] I'm to missions through XX I years. been think talking. wanted button, going been a a bingo. hit Ric, don't your years, think now. technology. We'll news. I shareholder I And you've congratulations. I and

to a tell should but Chairman invested is Mitch -- gets of Harvard Boston. Mitch my guy. upset, companies. is MIT a we has an in listeners. a Mitch been school I went guy. is So years. Jeff -- been The a the supportive couple he's over He's the in But

years, very going every been I we you've XX think back went over talking the and sometimes -- he's much very And been as talk he's which years, your But we and Mitch, greatly he without appreciate, been for sometimes month. a year patience said, for -- patient. very because I patient.

said, called That's that's then introduce great. And going He said, commercially we're year just program. UST. bingo. we've an I we're the of with signed to contracts. hog-wild him couple early And when the earlier our said, in and when a everything said him unbelievable. in this access putting called I and going technology And UST, He

remember always I'll So that.

done So everything to going you've Mitch, what thank you you're and for us. for the future do in

for Thank Richard you. remarks. and That the conference concludes CEO closing back of our Schumacher, ahead. I Q&A Pressure President hand go Please session. now BioSciences, to will

it John. throw Matthew, you, to and I'll Thanks,

You've Anything before you'd to got like off? we say hop football. the

are going how But can't few I next -- UST. be is. some will underscored testing on we and the be as very, exciting just look time time revenues. we and runs is by testing very all we a this sample to And us. to our it just XXXX some enough think letters and XXXX when for the exciting will year of I months stress commercial, a alpha beta be a generating doing

in So today. thanks listening for

John where one big. all. which public is and X of pennies and the to happened we just thanks just not It's -- smooth. boring, nice nice everything thanks anybody something the it's John, exciting. running bit Not it That's to least, here. as big and very We're we at our what very, so but in smooth, on really -- call. to coming have it's phone little running what on, for just at the call everybody a a very underscore We're because to gets it's when there's the on I just knows -- when said, nerve-racking on million, -- went hit about had. I've ever something $X from that's matter $XXX million course being biggest X year companies. or I've or in we the $X million thing of back, has $XX exciting, went worth companies, from that other over companies, this occasion very year. personally we and life, a billion. a worth And X, a or was to X share, company meant almost That $X I started, started company a And had in X looking my opinion.

$X I what this, billion as say saying but I about $X corner. not I'm billion it hit I come the done is excited know like it. say, Having this is technology, can exciting a very we billion one think once or will would $X We're equally it had hit. this technology. because before is big before a around

Our the then problem want do to build second. to decide we which is do first, to what infrastructure, have what we're we doing. do But want we do to

We which we're have to doing. the build team,

doing, build we're which go We the have the find to to we have customers. and instrumentation,

a be the that we there's we and have but difficult it. that's because mean least don't to I answer And this slight, thing need, a do to can

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to So thanks talk mid-November. you again, everybody. We'll

This and concludes Thank ladies gentlemen. you, event. today's

disconnect You this participation. your have wonderful time, day. a at you may for and Thank