Biotech has been dominating the momentum game over the last two sessions. Today, a Massachusetts-based bio sciences company announced that it will be hosting their Q2 2021 financial results teleconference as well as provide a business update. Many traders are eyeing this as a potential catalyst for Pressure BioSciences Inc. (OTCQB:PBIO) to appreciate and capitalize on the recent momentum the sector has seen so far this week.
Pressure BioSciences is engaged in the healthcare division. It focuses on solving the problems inherent in biological sample preparation. The company has developed and patented a technology platform that can control the sample preparation process. This process, called pressure cycling technology (PCT), uses alternating cycles of hydrostatic pressure between ambient and ultra-high levels. The company is also the distributor of the Constant Systems (CS) cell disruption equipment, parts, and consumables. Its products include Barocyclers, External Pressure Calibration Device Kit, MicroTubes, HUB High-Pressure Generators and Accessories, RF1700 Mini Ultra-High Pressure Pump, High-Pressure Cell Disruptors from Constant Systems, and SHREDDER Tubes, Service Contracts, and others.
Traders were bullish heading into the close as shares popped up to $2.90/share (+16.00%) following the announcement. This move could be an indication of things to come as it looks like support has been found this month.