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Milestone Scientific Inc. reports developments tied to computerized drug delivery instruments for dental and medical applications. The company’s Dynamic Pressure Sensing technology supports pressure-guided injection and fluid-aspiration procedures, including dental anesthesia delivery through The Wand STA system and medical applications such as CompuFlo for controlled epidural injections.
Recurring news themes include financial results, business-update calls, commercialization programs, physician and dental-practice adoption, distributor and reimbursement infrastructure, international product registrations, disposable utilization, operating expense initiatives, and capital actions involving common stock and warrants.
Milestone Scientific (NYSE American: MLSS) has initiated sales of CompuFlo® Epidural and CathCheck disposables to Regional Medical Center (RMC) in South Carolina. This follows successful testing at RMC and aligns with Milestone's strategy to enhance revenue through disposable sales. Interim CEO Leonard Osser noted that the company’s sales pipeline is the strongest in its history, and they aim to establish CompuFlo as the standard in labor and delivery anesthesia across the U.S.
Milestone Scientific (NYSE American: MLSS) has announced a distribution agreement with Bitmedical AG to market its CompuFlo Epidural Instrument and CathCheck System in Switzerland and Austria. This partnership aims to leverage Bitmedical's expertise in medical device distribution to enhance market presence. The CompuFlo system is noted for its precision in epidural procedures, potentially reducing complications and time for healthcare providers. The agreement highlights the company's strategy to penetrate European markets effectively.
Milestone Scientific (NYSE American: MLSS) announced that Interim CEO Leonard Osser has completed a share sale to cover option costs and taxes, resulting in an increase in his common stock holdings. Osser has submitted Form 4s detailing these transactions and stated he has no plans for further sales. Milestone Scientific specializes in developing computerized drug delivery instruments using its proprietary technology for various medical applications. The company emphasizes its focus on innovation in painless injection technology.
Milestone Scientific (NYSE American: MLSS) has raised its revenue guidance for Q4 2020 to over $2 million, marking a 67% increase from $1.2 million in Q3 2020. This optimistic outlook is attributed to a recovery in the dental sector as dental offices reopen. Notably, this figure excludes recent sales of approximately $450,000 to a Chinese distributor. The company is also gaining traction with its CompuFlo® Epidural System, having started sales of disposables to the University of Texas Medical Branch, with plans to expand to more hospitals.
Milestone Scientific (NYSE American: MLSS) released a survey revealing insights from Board Certified Anesthesiologists regarding the future of anesthesiology. Conducted by the Schlesinger Group, the survey found that 56% of anesthesiologists feel time pressures affect patient care, and 84% believe their skills are underutilized. Notably, 96% emphasize the need for new technologies. Milestone aims to lead this change with products like the CompuFlo Epidural System, which could reduce procedure complications and costs. A webinar detailing these findings is scheduled for January 12, 2021.
Milestone Scientific Inc. (MLSS) has initiated sales of its CompuFlo disposables to the University of Texas Medical Branch (UTMB), following a purchase order received in late 2020. The CompuFlo system is designed to enhance safety and efficiency in epidural procedures, reducing complication rates and anesthesia time. It is projected to deliver significant economic benefits, with a study indicating an average savings of $504 per hospital stay compared to traditional methods. Both hospital and physician responses have been positive, suggesting a favorable outlook for future commercial opportunities.
Milestone Scientific (NYSE American:MLSS) announced that Interim CEO Leonard Osser intends to exercise up to 336,970 options. He plans to sell some shares to fund the options and cover taxes, but this will increase his total common stock holdings. Osser confirmed he will not sell additional shares. The company specializes in innovative, computerized drug delivery systems designed to provide painless injections for medical, dental, and cosmetic applications.
Milestone Scientific (MLSS) anticipates a significant sales increase for Q4 2020, forecasting at least $1.7 million, marking a 40% sequential growth from Q3. The uptick is attributed to recovering dental operations post-pandemic and improved cash flow. The company has terminated exclusive distribution rights with Henry Schein, enhancing market penetration opportunities. The Wand® STA instrument's safety and efficiency are emphasized as it supports dental practices during COVID-19. Recent sales to a Chinese distributor of approximately $450,000 are expected but won’t be recorded until resold.
Milestone Scientific (MLSS) reported significant third-quarter developments. Dental sales rose over seven-fold compared to Q2 2020, aided by marketing promotions after COVID-19 disruptions. The company secured a purchasing agreement with Premier, enhancing its hospital reach. Despite this growth, Q3 revenues fell to approximately $1.2 million from $1.9 million year-over-year, with gross profit dropping to 67%. Operating loss increased to $(1.5) million due to reduced dental revenue. Cash reserves stood at over $14 million, supporting ongoing marketing and operational efforts.
Milestone Scientific Inc. (MLSS) will present at the Virtual Fall Investor Summit from November 16-18, 2020. Interim CEO Leonard Osser is scheduled to speak on November 18 at 9:30 a.m. ET. The presentation will be streamed live and available for replay. Investors can register for the conference or schedule one-on-one meetings through the Investor Summit Group. Milestone Scientific is known for its innovative injection technologies, focusing on precision and painlessness in medical and dental applications.