Welcome to our dedicated page for 908 Devices news (Ticker: MASS), a resource for investors and traders seeking the latest updates and insights on 908 Devices stock.
News and updates for 908 Devices Inc. (NASDAQ: MASS) center on its development and deployment of purpose-built handheld devices for chemical analysis in health, safety and defense technology applications. The company reports that its tools are used at the point of need to interrogate unknown and invisible materials and provide quick, actionable answers in situations involving drugs, toxic chemicals and security threats.
Investors and observers following 908 Devices can expect regular news on quarterly financial results, including revenue from product sales, service and contract revenue, recurring revenue tied to its installed base, and non-GAAP measures such as adjusted gross margin and adjusted EBITDA. These updates are often accompanied by commentary on channel mix, recurring revenue trends and strategic focus on handheld chemical analysis tools.
The company also issues news about product developments and launches. Recent announcements describe handheld analyzers that combine FTIR and Raman spectroscopy through proprietary Smart Spectral Processing algorithms, as well as devices designed for rapid field-based identification of unknown bulk solids, liquids, gases and vapors. Such releases highlight capabilities like trace-level detection of drugs, explosives and hazardous materials, wireless connectivity and integration with the 908 Devices Team Leader app.
Another key theme in 908 Devices’ news flow is adoption by government and defense organizations. Public updates have detailed purchases of handheld mass spectrometry and gas identification devices by entities such as the United States Coast Guard and United States Marine Corps for narcotics interdiction, hazardous threat detection and protection of installations and coastal communities.
Corporate governance and investor relations activities also appear in the news stream, including participation in investor conferences, webcasts of earnings calls and changes to the Board of Directors that align with the company’s focus on public health, safety and defense tech. For a comprehensive view of how 908 Devices is executing its strategy, readers can review this evolving news record over time.
908 Devices (NASDAQ: MASS) announced the addition of six new members to its Scientific Advisory Board, enhancing its leadership in bioprocess development and biotherapeutics. The new members, including experts from academia and industry, will provide guidance on the company's bioprocessing and bioanalytics platform. This strategic move aims to support the expansion of the Rebel and ZipChip ecosystems, positioning 908 Devices to advance its technology roadmap and support users in biotherapeutic development and production.
Bio-Techne Corporation (NASDAQ: TECH) and 908 Devices (NASDAQ: MASS) have announced a collaboration to develop a comprehensive protein characterization solution. This integration will combine Bio-Techne's Maurice icIEF separation instrument with 908 Devices' ZipChip device. The partnership aims to streamline workflow for scientists, enhancing drug development efficiency via in-depth analysis of biotherapeutics. The combination of these technologies is expected to deliver faster commercialization, leveraging high-resolution separation techniques and mass spectrometry capabilities.
908 Devices (NASDAQ: MASS) and Bio-Techne Corporation (NASDAQ: TECH) announced a collaboration to enhance protein characterization workflows. This partnership combines Bio-Techne's Maurice icIEF separation instrument with 908 Devices' ZipChip technology, streamlining the analysis process for biotherapeutics. The integrated solution aims to improve drug development efficiency by providing rapid, high-resolution separation techniques and mass spectrometry identification, catering to the growing biopharmaceutical market.
908 Devices (Nasdaq: MASS) announced it will release its first quarter 2021 financial results on May 13, 2021, prior to market opening. A conference call will follow at 5:30 a.m. PT / 8:30 a.m. ET, which will be available on the company’s website. Additionally, the Annual Meeting of Stockholders is set for June 17, 2021, conducted online due to COVID-19, allowing stockholders to vote virtually. The record date for eligible voters is April 23, 2021. More details will be provided in the upcoming proxy statement.
908 Devices (NASDAQ:MASS) appointed Michele Fournier as Chief People Officer, bringing over 30 years of HR experience to enhance its workforce strategies. Michele aims to build a robust talent acquisition pipeline, promote diversity, and define employee career paths. CEO Dr. Kevin J. Knopp emphasized her pivotal role in fostering a high-performing team as the company expands. Previously, Michele held senior HR positions at Parexel International and PTC, showcasing her expertise in driving organizational growth.
908 Devices (NASDAQ:MASS) has been selected by the U.S. Border Patrol to deploy over 60 units of its MX908 handheld mass spectrometry device across 20 locations in the U.S. and Caribbean. This device is pivotal for trace drug detection, aiding in the prevention of drug smuggling. The announcement comes amid rising drug overdose deaths in the U.S., which increased nearly 17% from May 2019 to 2020. The MX908 can identify over 2,000 fentanyl analogs, enhancing the capabilities of law enforcement agencies in combating the opioid crisis.
908 Devices reported a strong 2020, with revenue increasing 50% year-over-year to $26.9 million. The gross margin improved to 55% from 45% in 2019. Despite a 32% revenue decline in Q4 2020, attributed to decreased license revenue, the company projects full-year 2021 revenue between $38 million to $40 million, reflecting a 41% to 49% growth. The company also strengthened its leadership team and secured a $25 million order from the U.S. Army, enhancing its business outlook.
908 Devices has secured a multi-year purchase order worth $25 million from the U.S. Army for over 350 MX908 trace-level detection devices. These devices will be incorporated into the Army's Explosive Ordnance Disposal (EOD) program over the next two years. The MX908's high-pressure mass spectrometry technology allows for rapid detection and identification of chemical threats, priority drugs, and trace explosives at the point of need. This commitment extends through 2025, showcasing the demand for advanced detection technology in military operations.
908 Devices (NASDAQ: MASS) announced the appointment of Jeff George and Fenel Eloi to its Board of Directors. Jeff brings over 20 years of experience in healthcare leadership, having served as CEO for major divisions at Novartis. Fenel, a seasoned life science executive, previously served as CFO and COO at Cell Signaling Technology. Their appointments aim to strengthen the company’s growth strategies in mass spectrometry technology. Prof. J. Michael Ramsey and Sharon Kedar will step down from the board at the upcoming Annual Meeting in June.
908 Devices Inc. (Nasdaq: MASS) will report its financial results for Q4 and the full year of 2020 on March 30, 2021, before market open. A conference call will follow at 5:30 a.m. PT / 8:30 a.m. ET. The webcast can be accessed on the company’s website, with an archive available within 24 hours. 908 Devices specializes in handheld and desktop mass spectrometry devices for various critical applications in life sciences, bioprocessing, and forensics, focusing on providing quick, actionable insights.
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