The medtech and life sciences group began 2017 with nice growth, with revenues up 8% at $551,357 year-on-year, it said.
Business was particularly strong in the company's products and services segment, which demonstrated 16% annual growth led by strong instrument sales, noted SeeThruEquity.
"On its call with investors, PBIO management stated that it expected sales growth throughout the year as it expands distribution and selling partnerships, including the recently announced partnership with EKG Sales Associates; the company also expects an increase in grant revenues later in the year," it added.
A CE mark for Barocycler...
The research group also said that the firm had achieved its CE marking for its Barocycler 2320EXTREME sample instrument system faster than originally expected.
"The CE Marking is a significant milestone as it allows the Barocycler to be sold in Europe," it said.
"The company has announced that it is pursuing an uplisting to the Nasdaq, with a goal of completing the process by the end of 2Q17.
"We expect this move will require a transaction that will bring in much needed capital, but also affect shares outstanding, in order to meet minimum share price and shareholder's equity thresholds for a national listing," it added.
Last week, Joseph L. Damasio, chief financial officer, said: "As reported, we continued to show quarter-over-quarter revenue growth, especially in the important area of products and services.
"We also increased gross margins during the period. What makes these accomplishments even more rewarding was their achievement during a quarter in which we were also able to reduce operating expenses and operating loss."