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. (Symbol: MASS) is revolutionizing the field of chemical analysis by making mass spectrometry accessible and user-friendly. Headquartered in Boston, the company specializes in developing point-of-need chemical analysis devices that range from rugged handheld tools to compact and efficient analyzers. These devices, based on advanced High Pressure Mass Spectrometry (HPMS), are designed to offer quick, actionable insights into unknown and invisible materials.
908 Devices serves a variety of industries, including safety and security, oil & gas, life sciences, and other applied markets. Their products are purpose-built and user-centric, catering to the specific needs of each market. The company is committed to providing innovative solutions that address critical problems in sectors such as life sciences research, bioprocessing, industrial biotech, and forensics.
In terms of financial performance, 908 Devices derives the bulk of its revenue from the United States, although it also has a significant presence in Europe, the Middle East, Africa, the Americas, and the Asia Pacific region. Recent achievements include the development of a suite of advanced Mass Spec devices that are compact yet highly effective. These devices are designed to be used at the point of need, offering rapid and reliable chemical analysis that is crucial for various applications.
One of the key areas of focus for 908 Devices is to democratize chemical analysis, making it more accessible and easier to use for a broader range of users. By doing so, the company aims to accelerate the pace of innovation and discovery in multiple fields. Their products are not only technologically advanced but also user-friendly, ensuring that even non-experts can operate them effectively.
In the latest news, 908 Devices continues to push the boundaries of what is possible with mass spectrometry. They have recently announced several new partnerships and product launches that aim to further enhance their capabilities and market reach. These developments highlight the company's commitment to staying at the forefront of the chemical analysis industry.
908 Devices Inc. (Nasdaq: MASS) will participate in the Canaccord Genuity 42nd Annual Growth Conference on August 10, 2022, hosting a Fireside Chat at 2:00 p.m. Eastern Time. The event aims to communicate the company's innovations in mass spectrometry technology, addressing critical applications in life sciences, pharma, and more. Interested parties can access the live and archived webcast via the company's website.
908 Devices is headquartered in Boston and focuses on democratizing laboratory technology with its handheld and desktop devices.
908 Devices Inc. (NASDAQ: MASS) will report its second quarter 2022 financial results on August 9, 2022, before market open. A conference call will follow at 5:30 a.m. PT / 8:30 a.m. ET, accessible via the company's website. As a leader in handheld and desktop mass spectrometry devices, 908 Devices aims to improve accessibility to critical analytical technology in various sectors, including life sciences and forensics. Investors can expect insights into the company’s performance and future outlook during this upcoming event.
908 Devices (NASDAQ: MASS) is presenting its handheld and desktop mass spectrometry technologies at the 70th ASMS Conference from June 5-9 in Minneapolis. The company emphasizes the accessibility of mass spec for researchers, showcasing the ZipChip device and its application in drug development. Key presentations include collaborations with Boehringer Ingelheim and Genentech, focusing on oligonucleotides and proteomics. The conference highlights 12 presentations, comprising one oral and eleven posters, aimed at enhancing drug development workflows.
908 Devices Inc. (NASDAQ: MASS) will participate in the William Blair 42nd Annual Growth Stock Conference on June 9th at 8:00 a.m. Central Time. Interested parties can access a live and archived webcast on the company’s website. 908 Devices specializes in handheld and desktop mass spectrometry devices aimed at addressing critical applications in life sciences, pharma, and forensics. The company is headquartered in Boston and focuses on innovative solutions that provide quick analysis of unknown materials.
908 Devices reported a 50% increase in Q1 2022 revenue, reaching $8.3 million compared to the prior year. This growth was driven by a 68% rise in desktop revenue and an expanded installed base of 2,018 devices, with 83 new placements in the quarter. However, net loss widened to $9.4 million from $6.1 million a year ago, with a net loss per share of $0.30. Operating expenses increased to $13.7 million due to headcount and marketing costs. The company anticipates full-year 2022 revenue between $52 million and $55 million, indicating growth of 23% to 30% over 2021.
908 Devices (NASDAQ: MASS) announced significant updates to its MX908 handheld mass spec device, enhancing capabilities for field safety and workflows for first responders. Key improvements include enhanced Bluetooth features for iOS devices and an expanded library of drug targets, now covering fentanyl analogs and synthetic opioids. These upgrades aim to improve rapid chemical detection amidst the ongoing opioid crisis, which has seen a dramatic rise in fentanyl-related incidents.
908 Devices (Nasdaq: MASS) has partnered with the Advanced Mammalian Biomanufacturing Innovation Center to enhance biotherapeutics development. The collaboration utilizes the REBEL™ analyzer to improve monitoring and control methods across 28 active projects at five institutions, including Johns Hopkins University. The REBEL device enables real-time analysis of over 30 media nutrients, aiding projects focused on optimizing mammalian cell culture and developing new media for gene therapy. This partnership aims to lower costs and enhance efficiency in biomanufacturing.
908 Devices (NASDAQ: MASS) is collaborating with CPI to enhance mammalian cell culture techniques aimed at improving growth and protein quality. Utilizing their REBEL™ device, they analyze cell culture media to control critical process parameters. This initiative supports the biopharmaceutical industry's need for predictive modeling and real-time process control in light of advancing therapies. The REBEL allows for rapid analysis, providing insights into amino acid depletion and other metabolic factors, ultimately enhancing bioprocessing workflows.
908 Devices (NASDAQ: MASS) will release its first quarter 2022 financial results on May 10, 2022, before the market opens. A conference call will follow at 5:30 a.m. PT / 8:30 a.m. ET, accessible via the company's website. Known for its handheld and desktop mass spectrometry devices, 908 Devices addresses essential applications in life sciences and related fields, emphasizing quick and actionable insights.
908 Devices Inc. (MASS) reported a significant 57% year-over-year revenue increase for 2021, totaling $42.2 million. The fourth quarter revenue surged 177% to $15.8 million, driven largely by handheld device sales. Gross profit for Q4 was $9.1 million, reflecting a margin of 58%. Operating expenses rose to $12.7 million due to increased headcount and marketing efforts. The net loss decreased from $10.2 million in Q4 2020 to $3.5 million in Q4 2021. For 2022, the company projects revenue growth of 23% to 30%, aiming for $52 million to $55 million.
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