Welcome to our dedicated page for Milestone Scient news (Ticker: MLSS), a resource for investors and traders seeking the latest updates and insights on Milestone Scient stock.
Milestone Scientific Inc. (MLSS) is described in its public disclosures as a technology-focused medical research and development company that patents, designs and develops computerized injection technologies and instruments for medical, dental and cosmetic applications. The company’s news flow centers on its computerized drug delivery instruments, which are designed to provide painless and precise injections using its DPS Dynamic Pressure Sensing Technology® platform.
News updates commonly cover developments in Milestone Scientific’s dental segment, including expansion of direct sales programs in North America, new international registrations for the STA® Single Tooth Anesthesia System, and initiatives such as The Wand® Ambassador Program. That program uses experienced dental professionals to share real-world clinical insights and workflow considerations to support broader adoption of The Wand STA System.
In the medical segment, news items highlight the CompuFlo® technology and the CompuFlo Epidural System, including growing utilization of CompuFlo disposables, interest from hospitals and international distributors, and progress on reimbursement strategies. Milestone Scientific reports milestones such as Medicare Part B payment-rate assignments under CPT® code 0777T in several jurisdictions and early activity from commercial insurers, which it views as important for adoption in interventional pain management and spine intervention markets.
Other recurring themes in Milestone Scientific’s news include quarterly financial results, cost-management and operational transformation efforts, leadership appointments, board changes, and updates on NYSE American listing compliance matters. Investors and observers can use this news stream to follow the company’s commercial initiatives in dental and medical markets, its reimbursement and payer-access efforts, and its corporate and governance developments over time.
Milestone Scientific (NYSE: MLSS), a developer of computerized drug delivery instruments for painless and precise injections, has announced its participation in The Benchmark Company's 13th Annual Discovery One-on-One Investor Conference. The event will take place on December 11th, 2024 at the New York Athletic Club in New York City.
CEO Arjan Haverhals and Chairman Neal Goldman will represent the company, with Haverhals conducting one-on-one meetings with investors and analysts throughout the conference day. The conference provides emerging growth companies the opportunity to connect with institutional and individual investors in a unique format.
Milestone Scientific has secured Federal Supply Schedule (FSS) approval for its CompuFlo® Epidural System, enabling pre-vetted contractor status with pre-negotiated pricing. The contract has a potential duration of up to 20 years, including extensions. The FSS designation opens significant opportunities within federal healthcare systems, including the Department of Defense, Veterans Affairs, and Indian Health Service. The CompuFlo® system uses patented Dynamic Pressure Sensing Technology® for accurate needle placement during epidural procedures. The contract provides access to the VHA's network of 1,380 facilities serving 9.1 million veterans, the Military Health System's 9.5 million beneficiaries, and the IHS's 687 facilities serving 2.8 million American Indians and Alaska Natives.
Milestone Scientific (NYSE: MLSS) reported a 22% year-over-year revenue increase to $2.5 million in Q3 2024, driven by a 57% rise in international dental sales. The company maintained a strong gross margin of 73%. The growth was supported by their e-commerce platform and expanded global distribution. Their CompuFlo® Epidural System gained traction following Medicare Part B payment rate approval in multiple states. Despite revenue growth, the company reported an operating loss of $(1.5) million. Cash position stood at $4.8 million with working capital of $6.9 million as of September 30, 2024.
Milestone Scientific (NYSE: MLSS) announced that CEO Arjan Haverhals will retire on December 31, 2024. Chairman Neal Goldman will serve as Interim CEO while the company searches for a permanent replacement. Haverhals will remain on the Board and provide consulting services during the transition. The company is retaining an executive search firm to find a permanent CEO who will focus on accelerating the commercialization of the CompuFlo® Epidural System. Under Haverhals' leadership, the company achieved financial stability and secured Medicare Part B Physician payment rates for CompuFlo® across multiple JMAC regions.
Milestone Scientific (NYSE:MLSS), a developer of computerized drug delivery instruments for painless and precise injections, has scheduled a conference call for Friday, November 15th, 2024, at 8:30 AM Eastern Time. The call will discuss the company's third quarter 2024 financial results for the period ended September 30, 2024, along with corporate progress and developments. Investors can access the call via telephone or webcast, with an audio replay available through November 29th, 2024.
Milestone Scientific (NYSE: MLSS) announced the commercial rollout of its CompuFlo® Epidural System at Hudson Specialty Care, led by Dr. Elbaz. This expansion follows the recent Medicare Part B payment rate assignment with FCSO and Novitas Solutions under CPT code CPT0777T. The implementation results from Milestone's partnership with Axial Biologics, with additional pilot programs ongoing in New Jersey, Texas, and Florida. The company will showcase the technology at the New York and New Jersey Pain Medicine Congress 2024. The CompuFlo system uses proprietary technology to precisely identify epidural space, enhancing procedure safety and efficiency.
Milestone Scientific Inc. (NYSE: MLSS) announced the commercial rollout of its CompuFlo® Epidural System at iHeal Pain Center following successful epidural steroid injection (ESI) procedures. This marks the launch of Milestone's next phase of commercial activities after achieving a granted Medicare Part B Physician payment rate for the system under CPT code CPT0777T.
The company also reported a robust pipeline of clinics in trials across multiple states through its partnership with Axial Biologics. The Medicare Price Assignment was granted across several Jurisdictional Medicare Administrative Contractors (JMAC) regions, including key states like Florida, Texas, and Pennsylvania.
Arjan Haverhals, CEO of Milestone Scientific, expressed satisfaction with the Axial Biologics partnership and the positive feedback from clinicians. The company is actively providing demos and performing procedures at numerous clinics, aiming to convert them into long-term users of the CompuFlo® technology.
Milestone Scientific Inc. (NYSE: MLSS) reported financial results for Q2 2024 and provided a business update. Key highlights include:
1. Secured Medicare price assignment for CompuFlo® Epidural System in multiple U.S. states.
2. Gross margin increased to 76.1% from 65.0% year-over-year.
3. U.S. e-commerce sales rose to $1.3 million in Q2 2024.
4. Revenues were $1.9 million, down from $2.9 million in Q2 2023.
5. Net income was $0.2 million, compared to a net loss of $1.3 million in Q2 2023.
6. Cash and cash equivalents stood at $5.8 million as of June 30, 2024.
The company's focus on reimbursement strategy and e-commerce platform has improved margins, despite challenges in international sales.
Milestone Scientific Inc. (NYSE:MLSS), a developer of computerized drug delivery instruments for painless and precise injections, has announced a conference call scheduled for Thursday, August 15th, 2024, at 8:30 AM Eastern Time. The call will discuss the company's financial results for the second quarter ended June 30, 2024, along with corporate progress and other developments.
Investors can access the call via telephone by dialing 888-506-0062 (U.S. toll-free) or +1 973-528-0011 (international) with the access code: 959238. A webcast will also be available. An audio replay will be accessible until August 29th, 2024, by dialing 877-481-4010 (U.S.) or +1 919-882-2331 (international) with the access code: 51045.
Milestone Scientific Inc. (NYSE: MLSS) has announced a strategic partnership with Axial Biologics to distribute its CompuFlo® Epidural System in New Jersey, Texas, and Florida. This follows recent Medicare Part B Physician payment rate approvals for the system under the AMA's Category III CPT® code CPT0777T by Novitas Solutions, Inc. and First Coast Service Options Inc.
The partnership aims to leverage Axial Biologics' extensive experience and relationships in the pain management sector to accelerate the adoption of CompuFlo®. This collaboration represents a focused approach to expand Milestone's reach in key states, potentially driving growth and enhancing patient outcomes.
The CompuFlo® Epidural System is designed to provide precise identification of the epidural space, reducing complications associated with traditional methods. The recent Medicare Price Assignment is expected to facilitate broader adoption across the United States.