908 Devices Inc. Stock Price, News & Analysis

908 Devices (NASDAQ: MASS) announced a successful collaboration with CPI, demonstrating their REBEL™ device's ability to enhance cell growth in bioprocessing. Using the REBEL, CPI optimized nutrient levels for a monoclonal antibody-producing cell line, achieving up to a 40% increase in titer while controlling toxic metabolite accumulation. The REBEL provides real-time data tracking, facilitating informed decisions on feeding strategies and improving both efficiency and product quality.

908 Devices Inc. (NASDAQ: MASS) reported Q2 2022 revenue of $11.1 million, a 34% increase year-over-year, driven by strong sales in handheld and desktop devices, with desktop revenue growing 39%. The company achieved a gross margin of 60% compared to 53% in the same quarter last year. Despite a net loss of $8.1 million, cash reserves stood at $213 million. Looking ahead, 908 Devices expects 2022 revenue between $52 million and $55 million, indicating 23% to 30% growth from 2021.

908 Devices (NASDAQ: MASS) has completed its acquisition of TRACE Analytics GmbH, a German firm specializing in online analysis and sampling systems for biotech applications. The purchase includes an initial payment of $15.3 million, plus up to $2.0 million contingent on future milestones. This acquisition aims to enhance 908 Devices' mass spec devices for on-line bioprocess monitoring, aligning with their goal of developing a comprehensive bioanalytics platform. The integration is expected to bolster their capabilities in providing actionable insights for Bioprocessing 4.0.

908 Devices Inc. (Nasdaq: MASS) will participate in the Canaccord Genuity 42nd Annual Growth Conference on August 10, 2022, hosting a Fireside Chat at 2:00 p.m. Eastern Time. The event aims to communicate the company's innovations in mass spectrometry technology, addressing critical applications in life sciences, pharma, and more. Interested parties can access the live and archived webcast via the company's website.

908 Devices is headquartered in Boston and focuses on democratizing laboratory technology with its handheld and desktop devices.

908 Devices Inc. (NASDAQ: MASS) will report its second quarter 2022 financial results on August 9, 2022, before market open. A conference call will follow at 5:30 a.m. PT / 8:30 a.m. ET, accessible via the company's website. As a leader in handheld and desktop mass spectrometry devices, 908 Devices aims to improve accessibility to critical analytical technology in various sectors, including life sciences and forensics. Investors can expect insights into the company’s performance and future outlook during this upcoming event.

908 Devices (NASDAQ: MASS) is presenting its handheld and desktop mass spectrometry technologies at the 70th ASMS Conference from June 5-9 in Minneapolis. The company emphasizes the accessibility of mass spec for researchers, showcasing the ZipChip device and its application in drug development. Key presentations include collaborations with Boehringer Ingelheim and Genentech, focusing on oligonucleotides and proteomics. The conference highlights 12 presentations, comprising one oral and eleven posters, aimed at enhancing drug development workflows.

908 Devices Inc. (NASDAQ: MASS) will participate in the William Blair 42nd Annual Growth Stock Conference on June 9th at 8:00 a.m. Central Time. Interested parties can access a live and archived webcast on the company’s website. 908 Devices specializes in handheld and desktop mass spectrometry devices aimed at addressing critical applications in life sciences, pharma, and forensics. The company is headquartered in Boston and focuses on innovative solutions that provide quick analysis of unknown materials.

908 Devices reported a 50% increase in Q1 2022 revenue, reaching $8.3 million compared to the prior year. This growth was driven by a 68% rise in desktop revenue and an expanded installed base of 2,018 devices, with 83 new placements in the quarter. However, net loss widened to $9.4 million from $6.1 million a year ago, with a net loss per share of $0.30. Operating expenses increased to $13.7 million due to headcount and marketing costs. The company anticipates full-year 2022 revenue between $52 million and $55 million, indicating growth of 23% to 30% over 2021.

908 Devices (NASDAQ: MASS) announced significant updates to its MX908 handheld mass spec device, enhancing capabilities for field safety and workflows for first responders. Key improvements include enhanced Bluetooth features for iOS devices and an expanded library of drug targets, now covering fentanyl analogs and synthetic opioids. These upgrades aim to improve rapid chemical detection amidst the ongoing opioid crisis, which has seen a dramatic rise in fentanyl-related incidents.