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 appointed Dr. Marcia Eisenberg, the chief scientific officer of Labcorp Diagnostics, to its Board of Directors. Dr. Eisenberg brings over 30 years of experience in biotechnology, molecular genetics, and forensic DNA testing, having developed many clinical assays. Kevin Hrusovsky, chairman of 908 Devices, lauded her proven track record and relevant expertise as a vital asset. This appointment follows the recent addition of two board members earlier this year, indicating ongoing efforts to strengthen its leadership team.
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.
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