Welcome to our dedicated page for Milestone Scient news (Ticker: MLSS), a resource for investors and traders seeking the latest updates and insights on Milestone Scient stock.
Comprehensive Overview
Milestone Scient (MLSS) is a pioneering company in the field of medical technology, specializing in computer-controlled local anesthetic delivery systems. With a commitment to enhancing patient comfort and clinical precision, the company has developed innovative systems that transform traditional injection techniques into a streamlined, virtually painless process. Operating across the dental and medical sectors, MLSS integrates advanced technology with ergonomic design to deliver solutions that cater to a broad spectrum of procedures.
Technology and Innovation
The core of MLSS's success lies in its proprietary technology, which focuses on computer-controlled delivery of local anesthetic agents. By automating the injection process, these systems ensure a controlled, gradual administration of anesthetic, markedly reducing discomfort and anxiety for patients. The technology uses precise algorithms and sensor-driven feedback to tailor the injection speed and pressure, providing a remarkable improvement over traditional manual methods.
Product Applications and Clinical Utility
MLSS's product portfolio is divided into two primary segments: Dental and Medical. In dentistry, the systems are marketed under trademarks that emphasize the technology's capacity for painless procedures, supporting a wide array of dental treatments ranging from routine cleanings and fillings to more complex procedures such as implants, root canals, and crowns. In the medical field, the applications extend to procedures in plastic surgery, hair restoration surgery, podiatry, colorectal surgery, dermatology, and orthopedics. These systems are engineered to ensure precision and reliability, making them suitable for diverse clinical applications.
Market Position and Global Reach
As an established player in the medical device segment, MLSS has solidified its position through a combination of technological innovation and strategic market penetration. The company’s systems are marketed and sold not only across the United States but also in over 25 countries, underscoring its global presence. MLSS's commitment to research and development and its focus on combining state-of-the-art technology with user-centric design have allowed it to navigate the competitive medtech landscape effectively. The company's ability to address clinical challenges through innovation has resonated with practitioners, helping to foster trust and reliability in its products.
Operational Excellence and Strategic Insights
MLSS operates with a dual-segment strategy focusing on both dental and medical markets, ensuring that its technological advancements impact a wide range of clinical practices. The systems, designed with precision and reliability, offer enhanced control during administration, making them indispensable tools in modern clinical settings. The company's strategic initiatives, including efforts to improve reimbursement strategies and expand its clinical adoption, are reflective of its robust operational framework. Moreover, MLSS maintains an emphasis on continuous innovation and partnerships which further bolster its position within the competitive landscape.
Why MLSS Stands Out
Two defining characteristics set Milestone Scient apart: its commitment to eliminating patient discomfort and its advanced, computer-controlled delivery technology. By converting complex manual procedures into automated precision processes, MLSS significantly reduces the challenges associated with traditional anesthetic administration. The integration of sophisticated control systems and real-time monitoring has not only refined the delivery process but also contributed to more consistent clinical outcomes.
Industry Keywords and Insights
Key industry terms such as computer-controlled injection, local anesthetic delivery, and painless injection technology are integral to understanding the value proposition of MLSS. These terms encapsulate the company’s strategic focus on blending technology with clinical expertise to provide superior, patient-centered solutions.
Conclusion
Milestone Scient represents a significant evolution in the realm of local anesthetic administration. By combining advanced technology with an acute understanding of clinical needs, the company has developed systems that offer both reliability and exceptional patient comfort. With robust global distribution and a comprehensive portfolio that addresses diverse clinical procedures, MLSS continues to set benchmarks in precision, efficiency, and patient care. The detailed approach to technological innovation and product efficacy makes MLSS a critical player in its industry, consistently enhancing the landscape of medical and dental care.
Milestone Scientific Inc. (NYSE: MLSS) announced the commercial rollout of its CompuFlo® Epidural System at iHeal Pain Center following successful epidural steroid injection (ESI) procedures. This marks the launch of Milestone's next phase of commercial activities after achieving a granted Medicare Part B Physician payment rate for the system under CPT code CPT0777T.
The company also reported a robust pipeline of clinics in trials across multiple states through its partnership with Axial Biologics. The Medicare Price Assignment was granted across several Jurisdictional Medicare Administrative Contractors (JMAC) regions, including key states like Florida, Texas, and Pennsylvania.
Arjan Haverhals, CEO of Milestone Scientific, expressed satisfaction with the Axial Biologics partnership and the positive feedback from clinicians. The company is actively providing demos and performing procedures at numerous clinics, aiming to convert them into long-term users of the CompuFlo® technology.
Milestone Scientific Inc. (NYSE: MLSS) reported financial results for Q2 2024 and provided a business update. Key highlights include:
1. Secured Medicare price assignment for CompuFlo® Epidural System in multiple U.S. states.
2. Gross margin increased to 76.1% from 65.0% year-over-year.
3. U.S. e-commerce sales rose to $1.3 million in Q2 2024.
4. Revenues were $1.9 million, down from $2.9 million in Q2 2023.
5. Net income was $0.2 million, compared to a net loss of $1.3 million in Q2 2023.
6. Cash and cash equivalents stood at $5.8 million as of June 30, 2024.
The company's focus on reimbursement strategy and e-commerce platform has improved margins, despite challenges in international sales.
Milestone Scientific Inc. (NYSE:MLSS), a developer of computerized drug delivery instruments for painless and precise injections, has announced a conference call scheduled for Thursday, August 15th, 2024, at 8:30 AM Eastern Time. The call will discuss the company's financial results for the second quarter ended June 30, 2024, along with corporate progress and other developments.
Investors can access the call via telephone by dialing 888-506-0062 (U.S. toll-free) or +1 973-528-0011 (international) with the access code: 959238. A webcast will also be available. An audio replay will be accessible until August 29th, 2024, by dialing 877-481-4010 (U.S.) or +1 919-882-2331 (international) with the access code: 51045.
Milestone Scientific Inc. (NYSE: MLSS) has announced a strategic partnership with Axial Biologics to distribute its CompuFlo® Epidural System in New Jersey, Texas, and Florida. This follows recent Medicare Part B Physician payment rate approvals for the system under the AMA's Category III CPT® code CPT0777T by Novitas Solutions, Inc. and First Coast Service Options Inc.
The partnership aims to leverage Axial Biologics' extensive experience and relationships in the pain management sector to accelerate the adoption of CompuFlo®. This collaboration represents a focused approach to expand Milestone's reach in key states, potentially driving growth and enhancing patient outcomes.
The CompuFlo® Epidural System is designed to provide precise identification of the epidural space, reducing complications associated with traditional methods. The recent Medicare Price Assignment is expected to facilitate broader adoption across the United States.
Milestone Scientific Inc. (NYSE: MLSS) has received multiple Notices of Allowance for key patent applications in the U.S. and Europe. These patents cover the company's next-generation Dynamic Pressure Sensing® (DPS) technology for real-time pressure-sensing guidance in manual injection systems and the new CompuPulse System for identifying pulsatile pressure waveforms.
The DPS technology enables fluid-pressure analysis to compare pressure signals, alert pressure thresholds, and display pressure graphs, enhancing the safety and precision of manual injections. The CompuPulse System improves the reliability and safety of drug delivery using manual syringes.
CEO Arjan Haverhals stated that these patent approvals significantly broaden the company's intellectual property foundation and reinforce its leadership in the computerized injection market, while opening new avenues for their technology in diverse markets and applications.
Milestone Scientific (NYSE: MLSS) has secured Medicare price assignment for its CompuFlo® Epidural System in 12 states through Novitas Solutions. This covers Medicare regions Jurisdiction L and H, following a recent approval in Florida. The decision applies to the AMA's Category III CPT® code CPT0777T for real-time pressure-sensing epidural guidance systems.
This expansion represents a significant market opportunity, with an estimated 3.0 million epidural steroid injection procedures performed annually in these jurisdictions, accounting for about one-third of total U.S. procedures. The initial addressable market among Medicare patients in these regions is approximately $250 million. The CompuFlo® system uses Dynamic Pressure Sensing® technology to enhance patient safety and outcomes in epidural procedures.
Milestone Scientific announced that its CompuFlo® Epidural System received favorable Medicare pricing from First Coast Service Options (FCSO) in Florida. This marks a critical milestone in Milestone's strategy to enhance coverage and payment for its technology. The decision impacts an estimated $125 million market among Florida Medicare patients. CEO Arjan Haverhals highlighted the strategic and methodical approach to achieving this reimbursement. The FDA-cleared CompuFlo® System uses Dynamic Pressure Sensing® technology to ensure accurate needle placement, enhancing patient safety and comfort. Milestone plans to expand its reimbursement strategy to other Medicare jurisdictions nationwide.
Milestone Scientific has received approval from Brazil's National Health Surveillance Agency (ANVISA) to market its CompuFlo® Epidural System in Brazil. This system uses patented Dynamic Pressure Sensing® technology for accurate, safe, and comfortable epidural needle placement, applicable to lumbar, thoracic, and cervical-thoracic areas. Brazil, being the 9th largest economy, has over 21 million people with chronic back pain and performs an estimated 4-5 million epidural procedures annually. The company has established key relationships with medical institutions and commercial entities in Brazil, expecting to expand the addressable market and improve patient safety and provider experience. This approval follows prior FDA approval in the U.S. and marks a significant step in Milestone's global expansion.
Milestone Scientific (NYSE: MLSS) reported $2.2 million in revenue for Q1 2024, down from $2.6 million in Q1 2023. The company's gross margin increased to 74.5%, up from 72.7%. The increase is attributed to a 31% rise in sales through their new online portal.
However, international revenues fell by $274,000. The company continues to advance its CompuFlo® Epidural System and has submitted over 160 claims for reimbursement. Operating loss for the quarter was $1.5 million, slightly higher than the $1.3 million loss in Q1 2023. Milestone Scientific ended the quarter with $5 million in cash and marketable securities.
Milestone Scientific Inc. (NYSE:MLSS) is set to announce its first-quarter 2024 financial results and business updates on May 16th, 2024. The company specializes in computerized drug delivery instruments for painless and precise injections. The conference call will cover financial performance, corporate progress, and recent developments.
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