Welcome to our dedicated page for 908 Devices news (Ticker: MASS), a resource for investors and traders seeking the latest updates and insights on 908 Devices stock.
908 Devices Inc. (MASS) delivers innovative mass spectrometry solutions enabling real-time chemical analysis across safety, life sciences, and industrial sectors. This news hub provides investors and professionals with essential updates on corporate developments and technological advancements.
Access timely press releases, earnings reports, and strategic announcements in one centralized location. Our curated collection includes regulatory filings, product launch details, and partnership updates critical for understanding the company's market position.
Key updates cover:
- Financial performance and investor communications
- Breakthroughs in handheld/desktop analysis devices
- Industry-specific applications in biotech and forensics
- Global expansion initiatives and regulatory milestones
Bookmark this page for streamlined access to MASS's evolving story. Combine our news archive with SEC filings and market analysis tools for comprehensive due diligence.
908 Devices (Nasdaq: MASS), a leader in handheld mass spectrometry, will virtually participate in the William Blair 41st Annual Growth Stock Conference. The management team's fireside chat is scheduled for June 3rd at 11:20 a.m. PT / 2:20 p.m. ET. Interested individuals can access the live webcast through the company's Investors section. 908 Devices aims to make mass spectrometry accessible for critical applications in various fields including life sciences and forensics.
908 Devices reported a 39% increase in Q1 2021 revenue, totaling $5.5 million compared to $4.0 million in Q1 2020. Product and service revenue surged over 100%, driven by strong sales of MX908 and Rebel units. The installed base grew to 1,427 devices, with 66 new placements in the quarter. However, the company reported a net loss of $6.1 million, up from $3.0 million in the prior year. Operating expenses also rose to $8.7 million. The full year 2021 revenue guidance is set between $38 million and $40 million, a growth rate of 41% to 49%.
908 Devices (NASDAQ:MASS) announced significant updates to its MX908 handheld mass spec device. The new Aero module enables real-time detection of aerosolized chemical threats, enhancing response protocols for first responders. The device now identifies a broader range of drug substances, addressing key concerns highlighted in the National Drug Threat Assessment. Additionally, the newly launched Bluetooth capability allows for efficient data transfer to Android devices, improving workflow and safety. These advancements come after a recent $25 million deal with the U.S. Army.
908 Devices (NASDAQ: MASS) announced the addition of six new members to its Scientific Advisory Board, enhancing its leadership in bioprocess development and biotherapeutics. The new members, including experts from academia and industry, will provide guidance on the company's bioprocessing and bioanalytics platform. This strategic move aims to support the expansion of the Rebel and ZipChip ecosystems, positioning 908 Devices to advance its technology roadmap and support users in biotherapeutic development and production.
Bio-Techne Corporation (NASDAQ: TECH) and 908 Devices (NASDAQ: MASS) have announced a collaboration to develop a comprehensive protein characterization solution. This integration will combine Bio-Techne's Maurice icIEF separation instrument with 908 Devices' ZipChip device. The partnership aims to streamline workflow for scientists, enhancing drug development efficiency via in-depth analysis of biotherapeutics. The combination of these technologies is expected to deliver faster commercialization, leveraging high-resolution separation techniques and mass spectrometry capabilities.
908 Devices (NASDAQ: MASS) and Bio-Techne Corporation (NASDAQ: TECH) announced a collaboration to enhance protein characterization workflows. This partnership combines Bio-Techne's Maurice icIEF separation instrument with 908 Devices' ZipChip technology, streamlining the analysis process for biotherapeutics. The integrated solution aims to improve drug development efficiency by providing rapid, high-resolution separation techniques and mass spectrometry identification, catering to the growing biopharmaceutical market.
908 Devices (Nasdaq: MASS) announced it will release its first quarter 2021 financial results on May 13, 2021, prior to market opening. A conference call will follow at 5:30 a.m. PT / 8:30 a.m. ET, which will be available on the company’s website. Additionally, the Annual Meeting of Stockholders is set for June 17, 2021, conducted online due to COVID-19, allowing stockholders to vote virtually. The record date for eligible voters is April 23, 2021. More details will be provided in the upcoming proxy statement.
908 Devices (NASDAQ:MASS) appointed Michele Fournier as Chief People Officer, bringing over 30 years of HR experience to enhance its workforce strategies. Michele aims to build a robust talent acquisition pipeline, promote diversity, and define employee career paths. CEO Dr. Kevin J. Knopp emphasized her pivotal role in fostering a high-performing team as the company expands. Previously, Michele held senior HR positions at Parexel International and PTC, showcasing her expertise in driving organizational growth.
908 Devices (NASDAQ:MASS) has been selected by the U.S. Border Patrol to deploy over 60 units of its MX908 handheld mass spectrometry device across 20 locations in the U.S. and Caribbean. This device is pivotal for trace drug detection, aiding in the prevention of drug smuggling. The announcement comes amid rising drug overdose deaths in the U.S., which increased nearly 17% from May 2019 to 2020. The MX908 can identify over 2,000 fentanyl analogs, enhancing the capabilities of law enforcement agencies in combating the opioid crisis.
908 Devices reported a strong 2020, with revenue increasing 50% year-over-year to $26.9 million. The gross margin improved to 55% from 45% in 2019. Despite a 32% revenue decline in Q4 2020, attributed to decreased license revenue, the company projects full-year 2021 revenue between $38 million to $40 million, reflecting a 41% to 49% growth. The company also strengthened its leadership team and secured a $25 million order from the U.S. Army, enhancing its business outlook.
