908 Devices Inc. Stock Price, News & Analysis

908 Devices Inc. (NASDAQ: MASS) announced its participation in two upcoming virtual investor conferences. The first event is the Stifel 2021 Virtual Healthcare Conference, featuring a fireside chat on November 17 at 1:40 PM PT. Following that, the company will host a session at the Canaccord Genuity Virtual MedTech, Diagnostics, and Digital Health & Services Forum on November 18 at 7:00 AM PT. Live webcasts of both events will be available on the company's website. 908 Devices focuses on innovative mass spectrometry devices for critical applications in life sciences.

908 Devices Inc. (NASDAQ: MASS) announced a public offering of 3,150,000 shares at $32.00 per share, aiming for gross proceeds of approximately $100.8 million. The offering closes on November 15, 2021, subject to customary conditions. The company plans to utilize the net proceeds for research and development, commercial expansion, and potential acquisitions. The offering includes a 30-day option for underwriters to purchase an additional 472,500 shares. Cowen and SVB Leerink are leading the offering.

908 Devices (NASDAQ: MASS) has launched a public offering of 2,750,000 shares of its common stock, with an additional 412,500 shares available to underwriters for purchase. The funds raised will be used for working capital, research and development, commercial expansion, and potential acquisitions. The offering is subject to market conditions and awaits the effectiveness of a registration statement with the SEC.

908 Devices (Nasdaq: MASS) reported a 52% sequential revenue growth in Q3 2021, totaling $12.5 million, and a 107% increase year-over-year. The installed base grew to 1,714 devices, marking a significant expansion with 184 devices added in Q3 alone. Gross profit reached $6.8 million, with a 54% gross margin. However, operating expenses rose to $12.1 million, contributing to a net loss of $5.2 million. The company forecasts $41 million to $43 million in annual revenue, reflecting a 52% to 60% growth outlook.

908 Devices Inc. (NASDAQ: MASS) launched a new Oligos assay kit at the ASMS conference, designed for its ZipChip device, enabling rapid and accurate oligonucleotide analysis. The kit offers several advantages over traditional liquid chromatography, including:

• No harsh ion-pairing reagents
• Faster analysis
• High-resolution, accurate mass identification

This advancement supports biopharmaceutical labs and enhances 908 Devices' position in the growing market for therapeutic oligonucleotides.

908 Devices Inc. (NASDAQ: MASS) is set to showcase its advancements in mass spectrometry at the ASMS conference from October 31 to November 4 in Philadelphia. The company will highlight novel high-pressure mass spectrometry and microfluidics technologies aimed at accelerating drug discovery in metabolomics and proteomics. Notably, a new ZipChip assay kit will be introduced for rapid oligonucleotide analysis. Presentations will focus on improving analysis time and efficiency in various applications, demonstrating the company's significant role in evolving laboratory mass spectrometry.

908 Devices (NASDAQ: MASS) will report its Q3 2021 financial results before market open on November 4, 2021. Management will host a webcast conference call starting at 5:30 a.m. PT / 8:30 a.m. ET. The event is accessible via the company's website and will be archived for replay within 24 hours. 908 Devices specializes in handheld and desktop mass spec devices aimed at life sciences, bioprocessing, and forensics, enhancing laboratory accessibility.

908 Devices (Nasdaq: MASS) reported Q2 2021 revenue of $8.3 million, marking a 49% increase from Q1 2021 but a 26% decline year-over-year due to a one-time shipment in Q2 2020. Desktop sales surged 70% compared to last year, contributing a third of total revenue. The company anticipates full-year revenue growth of 49% to 60%, adjusting guidance upward to $40-$43 million. Gross profit decreased to $4.4 million with a margin of 53%. Operating expenses rose to $11.8 million, resulting in a net loss of $7.4 million, or $0.27 per share. Cash reserves stand at $141 million.

908 Devices (NASDAQ: MASS) has announced the appointment of six new members to its Scientific Advisory Board (SAB), enhancing its expertise in proteomics. The new members, including renowned scientists like Prof. Ileana Cristea and Prof. John Yates, bring extensive knowledge in areas such as viral infection and mass spectrometry. Company leaders expect these additions will strengthen the development of their mass spectrometry and microfluidic technologies. This expansion follows the recent advancements in their platform capabilities for analyzing complex biological samples.