908 Devices Inc. - MASS STOCK NEWS

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 $41.5 million, a 54% increase from $26.9 million in 2020. The fourth quarter showed remarkable growth, anticipating revenues of at least $15.1 million, up 165% from $5.7 million in Q4 2020. CEO Kevin J. Knopp noted continued execution of their commercial strategy and plans for future growth in key accounts and product development, as they prepare to release full audited financial results in early March.

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.

908 Devices (NASDAQ: MASS) has launched a public offering of 2,750,000 shares of its common stock, with an additional 412,500 shares available to underwriters for purchase. The funds raised will be used for working capital, research and development, commercial expansion, and potential acquisitions. The offering is subject to market conditions and awaits the effectiveness of a registration statement with the SEC.

908 Devices (Nasdaq: MASS) reported a 52% sequential revenue growth in Q3 2021, totaling $12.5 million, and a 107% increase year-over-year. The installed base grew to 1,714 devices, marking a significant expansion with 184 devices added in Q3 alone. Gross profit reached $6.8 million, with a 54% gross margin. However, operating expenses rose to $12.1 million, contributing to a net loss of $5.2 million. The company forecasts $41 million to $43 million in annual revenue, reflecting a 52% to 60% growth outlook.