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 (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.
908 Devices Inc. (NASDAQ: MASS) launched a new Oligos assay kit at the ASMS conference, designed for its ZipChip device, enabling rapid and accurate oligonucleotide analysis. The kit offers several advantages over traditional liquid chromatography, including:
- No harsh ion-pairing reagents
- Faster analysis
- High-resolution, accurate mass identification
This advancement supports biopharmaceutical labs and enhances 908 Devices' position in the growing market for therapeutic oligonucleotides.
908 Devices Inc. (NASDAQ: MASS) is set to showcase its advancements in mass spectrometry at the ASMS conference from October 31 to November 4 in Philadelphia. The company will highlight novel high-pressure mass spectrometry and microfluidics technologies aimed at accelerating drug discovery in metabolomics and proteomics. Notably, a new ZipChip assay kit will be introduced for rapid oligonucleotide analysis. Presentations will focus on improving analysis time and efficiency in various applications, demonstrating the company's significant role in evolving laboratory mass spectrometry.
908 Devices (NASDAQ: MASS) will report its Q3 2021 financial results before market open on
908 Devices (Nasdaq: MASS) reported Q2 2021 revenue of $8.3 million, marking a 49% increase from Q1 2021 but a 26% decline year-over-year due to a one-time shipment in Q2 2020. Desktop sales surged 70% compared to last year, contributing a third of total revenue. The company anticipates full-year revenue growth of 49% to 60%, adjusting guidance upward to $40-$43 million. Gross profit decreased to $4.4 million with a margin of 53%. Operating expenses rose to $11.8 million, resulting in a net loss of $7.4 million, or $0.27 per share. Cash reserves stand at $141 million.
908 Devices (NASDAQ: MASS) has announced the appointment of six new members to its Scientific Advisory Board (SAB), enhancing its expertise in proteomics. The new members, including renowned scientists like Prof. Ileana Cristea and Prof. John Yates, bring extensive knowledge in areas such as viral infection and mass spectrometry. Company leaders expect these additions will strengthen the development of their mass spectrometry and microfluidic technologies. This expansion follows the recent advancements in their platform capabilities for analyzing complex biological samples.
908 Devices (NASDAQ:MASS) has announced the expansion of its global channel distribution network, now spanning over 40 countries across six continents. CEO Kevin J. Knopp emphasized the company's commitment to supporting sales and customer demands as part of their 2021 growth strategy. Recent partnerships include Sartorius Korea Biotech, Rhenium Ltd. in Israel, and others across South America and Europe. To bolster this initiative, additional sales and support staff have been hired in key regions. This strategic growth aims to enhance the company's presence in critical markets for its handheld and desktop mass spectrometry devices.
908 Devices (NASDAQ:MASS) announced a successful collaboration with Transcenta, enhancing biopharmaceutical workflows in Hangzhou, China. Their ZipChip® device accelerated the measurement of monoclonal antibodies (mAbs), achieving results in under 10 minutes—100 times faster than traditional methods. Transcenta also adopted the REBEL® device for near real-time amino acid analysis, supporting continuous cell culture. This partnership highlights the efficacy of 908 Devices' tools in bioprocess improvements and emphasizes their growing presence in the Asia Pacific region.
908 Devices Inc. (Nasdaq: MASS) announced it will release its financial results for Q2 2021 on August 4, 2021, before market open. A conference call will follow at 5:30 a.m. PT / 8:30 a.m. ET, available via live webcast on the company’s website. The session will be archived for replay within 24 hours. 908 Devices specializes in mass spectrometry devices that serve critical applications in life sciences and forensics, showcasing its commitment to making laboratory tools more accessible.
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