Welcome to our dedicated page for Sharps Tech news (Ticker: STSS), a resource for investors and traders seeking the latest updates and insights on Sharps Tech stock.
Sharps Technology Inc. (NASDAQ: STSS) is an innovative medical device and pharmaceutical packaging company specializing in the development and manufacturing of ultra-low waste, smart safety syringes. The company’s product lines, which include Sharps Provensa, SecurGard, and SoloGard, are designed to eliminate potentially infectious needlestick injuries and reduce waste, making drug delivery safer and more efficient.
Sharps Technology, headquartered in New York, operates a state-of-the-art manufacturing facility in Hungary and has plans to expand its operations in the United States. The company recently entered into a significant partnership with Roncadelle Operations, an Italian-based leader in the development of drug delivery devices. This partnership aims to broaden Sharps' market reach into Europe, the Middle East, Africa, and Asia-Pacific regions while allowing Roncadelle to penetrate the North and Latin American markets. The companies will collaboratively sell and distribute each other’s products, including prefilled syringes, needle guard systems, auto-injectors, and injector pen devices.
One of Sharps Technology’s latest achievements includes a $200 million Sales Agreement with Nephron Pharmaceuticals, along with the acquisition of the InjectEZ syringe manufacturing facility in South Carolina. This move will make Sharps the first dedicated polymer prefillable syringe manufacturer in North America, with plans to begin product deliveries by the second quarter of 2025. The facility will produce specialized cyclic olefin copolymer (COC) prefillable syringes, addressing the growing demand for safer, more efficient drug delivery solutions.
The company’s commitment to innovation is further highlighted by its SecureGard and SoloGard syringes, which feature active safety mechanisms and WHO-accredited reuse prevention measures to protect healthcare workers and patients. Sharps is also working on expanding its product line with new technologies such as prefilled syringes, needle guard systems, auto-injectors, and injector pen devices. These efforts align with the recent FDA guidelines encouraging healthcare providers to move away from Chinese-manufactured syringes due to safety concerns.
Sharps Technology is poised for significant revenue growth and market expansion, driven by its strategic partnerships, innovative products, and robust manufacturing capabilities. For more information, please visit www.sharpstechnology.com.
Sharps Technology (NASDAQ: STSS) has secured approval from Nasdaq to maintain its listing, subject to specific conditions. The company received a Determination Letter on September 9, 2024, following an August 13 hearing where it presented its compliance plan to address a bid price deficiency. Sharps Technology had previously obtained shareholder approval for a reverse split at a ratio of up to 1:8. However, due to a proposed new Exchange rule, the company now seeks approval for a higher ratio reverse split to improve long-term compliance with the bid price rule.
The Nasdaq Hearings Panel has granted Sharps Technology a brief exception period to complete the reverse split and cure its bid price deficiency. The company expects to regain compliance within this period.
Sharps Technology (NASDAQ: STSS and STSSW) has entered into a transformative five-year sales agreement with a prominent U.S.-based medical products company to supply 10mL SoloGard syringes from its EU facility. This deal is valued at over $50 million and fully utilizes the current production capacity of the Hungary plant.
The agreement follows successful evaluations amid FDA recalls and tariffs on Chinese syringes. It marks a significant milestone, exceeding commitments made in a June 2022 shareholder letter and laying a foundation for future expansion. Initial shipments are slated for November 2024, with a phased ramp-up in 2025. The deal ensures Sharps' products meet growing industry demand driven by diverse therapeutic needs and regulatory challenges facing Chinese suppliers.
Sharps Technology's CEO, Robert Hayes, has issued a letter urging shareholders to vote on three critical proposals by July 12, 2024. The proposals include increasing the authorized shares of common stock, effectuating a reverse stock split of up to 1-for-8 to maintain Nasdaq listing, and issuing securities at a discount of no more than 20% below the market price. The company is aggressively pursuing strategic partnerships and aims to expand manufacturing capacity in Europe and the U.S. Shareholders can vote online, by phone, or during the Special Meeting on July 15, 2024.
Sharps Technology has received purchase orders for 1 million SecureGard syringes from a Swiss-based provider of injectable therapies. The first 100,000 units will ship in late July, with the remainder delivered throughout Q3 and Q4 2024. This deal marks a significant step toward a long-term partnership, leveraging Sharps' innovative technologies to support the customer's growing product range. Sharps specializes in ultra-low waste syringe solutions designed for various therapeutic applications, including vaccines and gene therapies. The company is expanding its manufacturing capacity with a new facility in South Carolina.
Sharps Technology, a medical device and pharmaceutical packaging company, has issued a call to action for its shareholders ahead of a special meeting scheduled for July 15, 2024. Shareholders of record as of May 17, 2024, are eligible to vote on three key proposals. These proposals include increasing the authorized number of shares, potentially effectuating a reverse stock split, and issuing securities in non-public offerings at a discount not exceeding 20% of the market price. The final vote deadline is July 12, 2024, at 11:59 p.m. ET. The Board of Directors emphasizes that these proposals are important for the company’s future operations and maintaining its Nasdaq listing. Voting can be done online, by phone, or during the virtual special meeting.
Sharps Technology (NASDAQ: STSS) has shipped its first orders of Securegard 1mL and 3mL disposable smart safety syringes to Colombia. This marks the company's entry into the Latin American healthcare market. The Securegard syringes feature ultra-low waste technology and World Health Organization accredited re-use prevention measures, aiming to enhance safety for healthcare workers and patients. This shipment, part of a strategic partnership with a Colombian distributor, is expected to drive long-term adoption and improve medical safety across the region.
Sharps Technology (NASDAQ: STSS, STSSW) is hosting an exclusive live investor webinar on June 18, 2024, at 4:15 p.m. ET, featuring CEO Robert Hayes. The event will discuss Sharps' recent $200 million syringe Sales Agreement with Nephron and an Asset Purchase Agreement. The manufacturing plan, starting upon closing the acquisition in 45 days, includes upgrading facilities to produce COC prefillable syringes. The first production line should be ready by early Q2 2025, with all three lines operational by Q4 2025. Sharps is also eyeing sales with Fortune 500 medical distributors and other pharma leaders, aiming for market shipping by early Q2 2025.
Sharps Technology (NASDAQ: STSS, STSSW) has secured a $30 million purchase order from Nephron Pharmaceuticals for their first 12 months of prefillable copolymer syringes. The syringes, available in 10mL and 50mL sizes, will be manufactured at a newly acquired facility in West Columbia, South Carolina. This purchase order is part of a larger five-year, $200 million Syringe Sales Agreement. The new facility, expected to be operational by Q2 2025, aims to exceed $35 million in revenue in its first year, with projections of over $50 million in 2026, and potentially $100 million by 2028. The advanced syringe technology offers significant benefits, including reduced breakage and contamination, and improved cold-chain storage.
Soligenix and Sharps Technology will be featured in interviews on the RedChip Small Stocks, Big Money™ show on Bloomberg TV, airing June 8 at 7 p.m. ET. Soligenix, a late-stage biopharmaceutical company, highlights its promising portfolio, including HyBryte™ for cutaneous T-cell lymphoma, which showed positive Phase 3 results and has a $250 million market potential. It also features SGX302 for psoriasis and SGX203 for pediatric Crohn's disease, targeting markets over $1 billion collectively. Sharps Technology, meanwhile, has secured a $200 million Sales Agreement and acquired Nephron Pharmaceuticals' InjectEZ facility, positioning itself as North America's first dedicated polymer prefillable syringe manufacturer. Projected revenues include $35 million in the first 12 months, with potential growth up to $100 million by 2028.
Sharps Technology has secured exclusive rights to purchase InjectEZ assets with a $1 million escrow deposit. The acquisition includes a five-year, $200 million syringe sales agreement with Nephron Pharmaceuticals. The transaction is expected to close within 60 days, with product shipments slated to begin in Q2 2025. The South Carolina facility will produce pharmaceutical-grade prefillable syringes, with projected revenue exceeding $35 million in the first 12 months. The manufacturing plan includes three phases, with the final phase expected to be completed by October 2027. Sharps is also collaborating with Fortune 500 medical distributors and pharmaceutical companies to expand its market reach.
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