Welcome to our dedicated page for Sharps Technology news (Ticker: STSS), a resource for investors and traders seeking the latest updates and insights on Sharps Technology 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 announced a securities purchase agreement with institutional investors, aiming to raise approximately $3.8 million to support manufacturing of pre-filled specialty syringe systems via its partnership with Nephron Pharmaceuticals. The deal involves issuing 2,248,521 units at $1.69 per unit, with a five-year warrant exercisable at $1.56. The closing date is expected around February 3, 2023. This funding is expected to enhance production capabilities, crucial for their innovative syringe products. The securities are being sold under a private placement not registered under the Securities Act.
Sharps Technology, Inc. (STSS, STSSW) has commenced its first commercial operations by shipping the Securegard product from its manufacturing facility in Hungary to Nephron Pharmaceuticals. Approximately 1.3 million units of Securegard are expected to be available by February 2023. This vial draw product features advanced safety measures and has received approvals from the FDA, WHO, and a CE Mark. CEO Robert Hayes expressed optimism about transitioning to revenue in the first half of 2023, highlighting that Securegard is just the beginning of their collaboration with Nephron, aimed at expanding innovative syringe offerings.
Sharps Technology, Inc. (NASDAQ: STSS, STSSW) announced advancements in its specialized prefillable syringe (PFS) systems, in collaboration with Nephron Pharmaceuticals, set to launch in Q3 2023. The polymer-based syringes promise enhanced drug stability and customized configurations while reducing contamination risks. With initial manufacturing capacity of over 20 million units, scalability up to 100 million units is planned by 2025. The shift from traditional glass syringes to innovative PFS products addresses rising demand and lead times, positioning Sharps for significant revenue growth in 2023 and beyond.
Sharps Technology transitions from a research & development start-up to a revenue-generating manufacturing entity. Manufacturing of ultra-low waste smart safety syringes has commenced in Hungary, with shipments expected by year-end 2022 to support a distribution agreement with Nephron Pharmaceuticals. The company's innovative syringes offer several advantages, including reduced medication waste. CEO Robert Hayes anticipates initial U.S. sales in January 2023. The plant can produce over 50 million syringe units, with potential expansion to 250 million units, complying with FDA and ISO standards.
Sharps Technology, Inc. (NASDAQ: STSS, STSSW) has signed a distribution agreement with Nephron Pharmaceuticals, marking a significant step in their collaboration. The agreement aims to enhance Sharps’ capacity in delivering innovative drug delivery systems. Initial revenue from this partnership is expected in the first half of 2023, with products available by the end of January. Nephron's extensive customer network will aid in targeted marketing, facilitating custom drug delivery solutions. This collaboration is set to accelerate Sharps' sales and introduce new products by mid-2023.
Sharps Technology and Nephron Pharmaceuticals have formed a new partnership to enhance innovative manufacturing, product development, and customer support, particularly for the InjectEZ syringe product launch. Nephron's significant investment of hundreds of millions over the past two years aims to boost manufacturing capacity in South Carolina. This collaboration will leverage Sharps’ advanced syringe technologies, increasing injection efficiency and safety. Both companies anticipate growth in new drug applications and customer projects to address public health challenges.
Sharps Technology, Inc. has successfully acquired Safegard Medical's syringe manufacturing facility in Hungary, marking a pivotal shift from R&D to commercial operations. This acquisition is expected to enhance production capacity for their patented smart safety syringes, which aim to minimize needlestick injuries and reduce vaccine waste. The facility, compliant with US and WHO standards, is set to begin production by the end of the quarter. The global market for smart safety syringes is projected to reach $14 billion by 2026.
Sharps Technology, Inc. completed its IPO on Nasdaq, marking a significant shift from R&D to revenue-generating operations. The IPO capital enables scaling to meet growing demand for smart safety syringes, projected to reach a $14 billion market by 2026. The company plans to manufacture 100 million units within 24 months and is negotiating US manufacturing collaborations. Upcoming distribution agreements are anticipated, alongside a focus on strategic alliances for enhanced drug delivery systems. The company aims to minimize medication waste with its Provensa Ultra-Low Waste syringes, potentially saving over $2,000 per patient annually.
Aegis Capital Corp. has successfully acted as the Sole Bookrunner for an Initial Public Offering (IPO) raising approximately $16 million for Sharps Technology, Inc. (NASDAQ:STSS). This IPO aims to enhance the company’s ability to innovate medical devices, specifically their Sharps Provensa™ line, which focuses on safer healthcare practices. The company’s mission is to prevent accidental needlestick injuries and promote efficient use of medicine and vaccines.
Sharps Technology, Inc. (NASDAQ: STSS, STSSW) has successfully closed its initial public offering of 3,750,000 units, priced at $4.25 each, generating approximately $16 million in gross proceeds. Each unit comprises a share of common stock and two warrants, with an exercise price of $4.25. The offering saw the underwriter exercise an over-allotment option for 1,125,000 warrants. The common stock and warrants began trading on Nasdaq on April 14, 2022. Aegis Capital Corp. managed the offering, which was declared effective by the SEC on April 13, 2022.
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