Milestone Scientific Inc. CEO to Increase Stock Ownership through Option Exercise

Rhea-AI Summary

Milestone Scientific (NYSE American:MLSS) announced that Interim CEO Leonard Osser intends to exercise up to 336,970 options. He plans to sell some shares to fund the options and cover taxes, but this will increase his total common stock holdings. Osser confirmed he will not sell additional shares. The company specializes in innovative, computerized drug delivery systems designed to provide painless injections for medical, dental, and cosmetic applications.

Positive

• Leonard Osser's exercise of options signals confidence in the company's future.
• The transaction will result in an increase in Osser's common stock holdings.

Negative

• None.

ROSELAND, N.J., Dec. 16, 2020 (GLOBE NEWSWIRE) -- Milestone Scientific Inc. (NYSE American:MLSS), a leading developer of computerized drug delivery instruments that provides virtually painless and precise injections, today reported that the Company’s Interim CEO, Leonard Osser, plans to exercise up to 336,970 options. In connection with the transaction, he plans to sell a portion of his shares to cover the cost of the options and associated taxes. However, the net impact of the transaction will be an increase in Mr. Osser’s overall common stock holdings. Mr. Osser has no plans to sell additional shares.

About Milestone Scientific Inc.
Milestone Scientific Inc. (MLSS) is a biomedical technology research and development company that patents, designs and develops innovative diagnostic and therapeutic injection technologies and instruments for medical, dental, cosmetic and veterinary applications. Milestone's computer-controlled systems are designed to make injections precise, efficient, and virtually painless. Milestone’s proprietary DPS Dynamic Pressure Sensing technology® is our technology platform that advances the development of next-generation devices, regulating flow rate and monitoring pressure from the tip of the needle, through platform extensions for local anesthesia for subcutaneous drug delivery, with specific applications for cosmetic botulinum toxin injections, epidural space identification in regional anesthesia procedures and intra-articular joint injections. For more information please visit our website: www.milestonescientific.com.

Safe Harbor Statement

This press release contains forward-looking statements regarding the timing and financial impact of Milestone's ability to implement its business plan, expected revenues, timing of regulatory approvals and future success. These statements involve a number of risks and uncertainties and are based on assumptions involving judgments with respect to future economic, competitive and market conditions, future business decisions and regulatory developments, all of which are difficult or impossible to predict accurately and many of which are beyond Milestone's control. Some of the important factors that could cause actual results to differ materially from those indicated by the forward-looking statements are general economic conditions, failure to achieve expected revenue growth, changes in our operating expenses, adverse patent rulings, FDA or legal developments, competitive pressures, changes in customer and market requirements and standards, and the risk factors detailed from time to time in Milestone's periodic filings with the Securities and Exchange Commission, including without limitation, Milestone's Annual Report for the year ended December 31, 2019. The forward-looking statements in this press release are based upon management's reasonable belief as of the date hereof. Milestone undertakes no obligation to revise or update publicly any forward-looking statements for any reason.

Contact:
David Waldman or Natalya Rudman
Crescendo Communications, LLC
Email: mlss@crescendo-ir.com
Tel: 212-671-1020

 

FAQ

What is Leonard Osser's plan regarding his shares in Milestone Scientific (MLSS)?

Leonard Osser plans to exercise up to 336,970 options and will sell some shares to cover the costs, resulting in an increase in his overall common stock holdings.

How does Leonard Osser's transaction affect Milestone Scientific (MLSS)?

The transaction will increase Osser's total common stock holdings, indicating confidence in the company's prospects.

What does Milestone Scientific (MLSS) specialize in?

Milestone Scientific specializes in computerized drug delivery systems aimed at providing painless injections across medical, dental, and cosmetic applications.