Welcome to our dedicated page for Milestone Scientific news (Ticker: MLSS), a resource for investors and traders seeking the latest updates and insights on Milestone Scientific stock.
Milestone Scientific, Inc. (NASDAQ: MLSS) is a pioneering company in the field of medical and dental anesthesia. The company focuses on the development, manufacture, marketing, and sale of computer-controlled local anesthetic delivery (C-CLAD) systems designed to provide improved and painless local anesthetic delivery. These systems are marketed under various trademarks for different applications. For dentistry, the products are known as CompuDent™ and STA™ (Single Tooth Anesthesia) System. These innovative devices allow for painless injections during a wide range of dental procedures, from routine cleanings to complex surgeries involving implants, root canals, and crowns.
For medical applications, Milestone Scientific offers similar technology under the CompuMed™ trademark. Their products are used across various medical disciplines, including plastic surgery, hair restoration surgery, podiatry, colorectal surgery, dermatology, and orthopedics. The company's advanced anesthetic delivery systems are sold both in the United States and in over 25 countries worldwide, highlighting their global reach and impact.
Besides their core product offerings, Milestone Scientific also provides The Wand™, a handpiece that allows for almost painless injections, enhancing patient comfort significantly.
The firm's operations are divided into two main segments: Dental and Medical. Geographically, all operations are concentrated in the United States, but their products are influential on a global scale.
Recent Achievements:
- Successful evaluations by prominent medical professionals, such as Dr. Matthew Stottle of Omaha Pain Physicians, achieving 100% success rates.
- Acceleration in reimbursement claims submission for the CompuFlo® Epidural System.
For more information or inquiries, Milestone Scientific can be contacted through Crescendo Communications, LLC via email at mlss@crescendo-ir.com or by phone at 212-671-1020.
Milestone Scientific Inc. (NYSE:MLSS) announced that the University of Texas Medical Branch (UTMB) Health Clear Lake Campus Hospital has begun utilizing the CompuFlo® Epidural Instrument. This development follows the successful implementation at the UTMB Health Galveston Campus. CEO Arjan Haverhals noted the growing interest in their technology and the positive feedback from anesthesiologists. Milestone's innovative technology aims to enhance the precision and comfort of injections, marking a significant step in their expansion within the UTMB Health network.
Milestone Scientific (NYSE: MLSS) announced the expansion of its medical sales team, appointing Chet Trechock as VP of Sales Medical. This move comes as the company sees increasing interest in its CompuFlo® Epidural Instrument and CathCheck™ System, driven by hospitals reopening to sales personnel. Milestone previously paused sales expansion during the pandemic to conserve capital but is now aggressively hiring, growing the sales team to 10 representatives. Trechock brings over 25 years of medical device sales experience, notably increasing annual sales for Flowonix Medical.
Milestone Scientific (NYSE: MLSS) has been invited to present at the virtual Summer Solstice – Best Ideas from the Buy-Side conference, scheduled for June 1-4, 2021. CEO Arjan Haverhals will present on June 2 at 2:00 PM ET and engage in one-on-one meetings with investors during the event. The presentation can be streamed live and is available for replay. The conference features top buy-side recommendations and aims to showcase innovative companies. Milestone specializes in advanced injection technologies aimed at painless and precise drug delivery.
Milestone Scientific (NYSE: MLSS) reported a robust 61% year-over-year revenue increase to $2.9 million for Q1 2021, aided by a 32% sequential rise from Q4 2020. As of March 31, 2021, the company maintained approximately $17 million in cash. Despite a gross profit margin decline to 62%, they reduced their operating loss to $1.0 million from $1.6 million in the prior year. The company continues to focus on expanding its medical product commercialization, particularly its CompuFlo Epidural System, viewing 2021 as pivotal for growth.
Milestone Scientific (NYSE: MLSS) announced significant leadership changes effective May 19, 2021. Jan Adriaan (Arjan) Haverhals was promoted to CEO, replacing Leonard Osser, who will serve as Vice Chairman of the Board. Scott Kahn was appointed as CFO, succeeding Joseph D’Agostino. Haverhals has been pivotal in sales and marketing strategies, while Kahn brings over 40 years of financial expertise from various sectors. The company aims to strengthen its position in the medical technology market, particularly in pain-free injection systems.
Milestone Scientific (NYSE American: MLSS) will hold a conference call on May 17, 2021, at 11:00 A.M. ET to discuss first-quarter financial results for March 31, 2021. The call can be accessed by U.S. callers at 1-877-407-0778 and international callers at 201-689-8565. A webcast will also be available online. An audio replay will be accessible until May 31, 2021, using the provided access codes. Milestone is known for its innovative drug delivery systems that offer precise and painless injections across various medical applications.
Milestone Scientific (NYSE: MLSS) announced a significant business update, reporting a 61% increase in Q1 2021 revenue to $2.9 million from $1.8 million year-over-year. Sequentially, sales rose 32% from Q4 2020. The company attributes this growth to a successful dental sales strategy and initial revenues from medical disposables, which they see as a transformative opportunity. Milestone’s innovative injection technology continues to position the company favorably in the biomedical market.
Milestone Scientific (MLSS) reported a 78% revenue increase in Q4 2020 compared to Q3, totaling approximately $1 million. Despite the impact of COVID-19, the company managed to reduce its net loss to approximately $(7.3) million or $(0.12 per share. Revenue for 2020 was $5.4 million, down from $8.3 million in 2019. The company is expanding its dental distribution network and has begun commercial efforts with the CompuFlo Epidural Instrument, focusing on high-margin disposable components and positive responses from hospitals. Cash reserves exceed $14 million.
Milestone Scientific Inc. (NYSE American: MLSS) announced a conference call scheduled for April 1, 2021, at 4:30 p.m. ET. The call will address the company's financial results for the year ending December 31, 2020, alongside updates on corporate progress and developments. U.S. callers can dial 1-877-407-0778, while international callers should use 201-689-8565. An audio replay will be accessible until April 15, 2021. The company specializes in computerized drug delivery systems aimed at making injections virtually painless. For further details, visit their website.
Milestone Scientific Inc. (NYSE: MLSS) announces that CEO Arjan Haverhals will present at the Q1 Virtual Investor Summit on March 24, 2021, at 11:00 AM ET. The summit will be held from March 23-25 and connects smallcap and microcap companies to investors. The event features 100 companies and over 300 investors. Milestone Scientific specializes in computerized drug delivery technologies, ensuring precise and virtually painless injections. For registration details, visit www.investorsummitgroup.com.
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