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. (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.
908 Devices (Nasdaq: MASS) has appointed Tony J. Hunt, President and CEO of Repligen Corporation (Nasdaq: RGEN), to its Board of Directors. Mr. Hunt brings over 20 years of experience in life sciences and bioprocessing. His previous roles include Chief Operating Officer at Repligen and President of Bioproduction at Life Technologies. The appointment aims to enhance 908 Devices' strategic insights and support its goal of developing a comprehensive bioanalytics platform. The company specializes in handheld mass spectrometry devices for critical applications in various markets.
908 Devices (Nasdaq: MASS) will report its fourth quarter and full year 2021 financial results on March 7, 2022, after market close. A conference call will follow at 1:30 p.m. PT / 4:30 p.m. ET. The event will be accessible via the company’s website, with an archive available within 24 hours.
908 Devices specializes in handheld and desktop mass spectrometry devices, designed for immediate chemical and biomolecular analysis in critical applications like life sciences and forensics.
908 Devices Inc. (Nasdaq: MASS), a leader in handheld and desktop mass spectrometry, will participate in two upcoming virtual investor conferences. The first is the 11th Annual SVB Leerink Global Healthcare Conference, scheduled for February 17 at 5:40 a.m. PT. The second is the Cowen 42nd Annual Health Care Conference on March 8 at 8:10 a.m. PT. Investors can access live and archived webcasts via the company's website. 908 Devices aims to revolutionize laboratory mass spectrometry for critical applications in life sciences, bioprocessing, and more.
908 Devices Inc. (NASDAQ: MASS) reported a strong financial performance for 2021, with an estimated revenue of at least
908 Devices (NASDAQ: MASS) announced that GlaxoSmithKline (NYSE: GSK) has acquired an additional REBEL™ cell culture media analyzer, bringing GSK's total to five units. This device aids in optimizing cell cultures rapidly and is compatible with bioreactor setups. 908 Devices reported that there are now 15 customers with multiple REBEL devices, a significant increase year-over-year. All top 20 pharmaceutical companies are utilizing 908 Devices' products, enhancing their development processes.
908 Devices (NASDAQ: MASS) collaborates with the U.S. Forest Service (USFS) to enhance its MX908 handheld device for detecting toxic pesticides in illegal marijuana grows on federal lands. Drug traffickers utilize these pesticides in remote areas, posing risks to wildlife and water supplies. The MX908, a battery-powered mass spectrometry device, is set to offer rapid testing capabilities, reducing delays in site remediation. This initiative aims to address environmental hazards while providing safer methods for USFS personnel to manage illegal cultivation.
908 Devices (NASDAQ:MASS) has partnered with Guardian Centers of Georgia to enhance their CBRNE training programs using the MX908 portable mass spec device. This collaboration aims to improve the detection of hazardous materials in real time, enhancing the safety and efficacy of first responders. The MX908's rapid trace detection capabilities allow for quick identification of threats, fostering critical decision-making in high-stress environments. This partnership underscores 908 Devices' commitment to democratizing mass spectrometry technology for essential applications.
908 Devices Inc. (NASDAQ: MASS) announced its participation in two upcoming virtual investor conferences. The first event is the Stifel 2021 Virtual Healthcare Conference, featuring a fireside chat on November 17 at 1:40 PM PT. Following that, the company will host a session at the Canaccord Genuity Virtual MedTech, Diagnostics, and Digital Health & Services Forum on November 18 at 7:00 AM PT. Live webcasts of both events will be available on the company's website. 908 Devices focuses on innovative mass spectrometry devices for critical applications in life sciences.
908 Devices Inc. (NASDAQ: MASS) announced a public offering of 3,150,000 shares at $32.00 per share, aiming for gross proceeds of approximately $100.8 million. The offering closes on November 15, 2021, subject to customary conditions. The company plans to utilize the net proceeds for research and development, commercial expansion, and potential acquisitions. The offering includes a 30-day option for underwriters to purchase an additional 472,500 shares. Cowen and SVB Leerink are leading the offering.
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