Milestone Scient Stock Price, News & Analysis

Milestone Scientific Inc. (NYSE: MLSS) reported a decline in 2022 revenues of $8.8 million, down from $10.3 million in 2021, attributed mainly to a $1.4 million drop in sales from China and a decrease in domestic dental revenue. The company faced an operating loss of $8.8 million, compared to $7.4 million the previous year. Despite these challenges, Milestone made progress in its product rollout, particularly the CompuFlo® Epidural System, which received FDA clearance for thoracic applications, potentially enhancing its market penetration. The company also launched a new online store for dental products, aiming for improved customer relations and profitability.

Milestone Scientific (NYSE:MLSS) will host a conference call on March 31, 2023, at 8:30 AM ET to discuss its 2022 financial results and corporate developments. U.S. callers can dial toll-free 888-506-0062, while international callers can reach the call at +1 973-528-0011, using access code 333430. An audio replay will be available until April 15, 2023, by calling 877-481-4010 for U.S. callers and +1 919-882-2331 for international. The company is known for its advanced computerized drug delivery instruments that facilitate painless injections, utilizing patented DPS Dynamic Pressure Sensing Technology® for improved patient safety and comfort.

Milestone Scientific Inc. (NYSE: MLSS), a leader in computerized drug delivery instruments, has begun sales of its CompuFlo® Epidural disposables at the University Pain and Spine Center, following a successful evaluation by Dr. Didier Demesmin. Dr. Demesmin endorses the CompuFlo Epidural Instrument for its objective measurement capabilities, enhancing procedure safety and speed. CEO Arjan Haverhals emphasized the importance of this adoption for establishing the CompuFlo Epidural System as the standard in epidural analgesia, boosted by recent FDA clearance for thoracic spine use, a significant step for market penetration.

Milestone Scientific (NYSE:MLSS) has commenced sales of CompuFlo Epidural disposables in three Colorado pain management clinics. This follows successful evaluations by Dr. Brad Sisson, MD, who reported a 100% success rate in initial cases. The sales come shortly after receiving FDA clearance for thoracic use, signifying major advancements in patient safety and pain management efficiency. CEO Arjan Haverhals emphasized the technology's potential to improve outcomes and reduce risks in complex procedures.

Milestone Scientific Inc. (NYSE:MLSS) announced the registration of its CompuFlo® Epidural System with the U.S. Government's System for Award Management (SAM) on March 2, 2023. This registration is essential for bidding on government contracts, enabling the company to operate within federal agencies such as the Department of Defense and Veterans Affairs. CEO Arjan Haverhals highlighted the substantial market potential and the product's safety and efficiency benefits. The system is supported by clinical data showing reduced complication rates and potential cost savings for healthcare providers. Milestone also seeks Federal Supply Service approval for pricing uniformity.

Milestone Scientific (NYSE:MLSS) announced FDA clearance for its CompuFlo Epidural System for use in the thoracic region of the spine, extending its prior approval in the lumbar region. The device utilizes patented DPS Dynamic Pressure Sensing Technology® to aid anesthesiologists in safe needle placement, thereby reducing complications like dural punctures. Approximately 11 million epidural procedures are performed annually in the U.S. The clearance is expected to open new market opportunities, particularly for patients with complex anatomy.

Milestone Scientific Inc. (NYSE:MLSS) has entered into a distribution agreement with Sweden & Martina for exclusive rights to market its STA Single Tooth Anesthesia System® in Italy, Spain, Portugal, and France. This strategic partnership taps into markets with over 180 million people. Sweden & Martina, a notable European dental distributor, will replace the current distributor in Italy. The STA system aims to improve patient experiences by offering painless injections. This collaboration aligns with Milestone's growth strategy in expanding its market reach.

Milestone Scientific (MLSS) has entered a distribution agreement with TEKMIKA Health Technologies to exclusively market its STA Single Tooth Anesthesia System^® in Brazil. This partnership allows TEKMIKA, a prominent distributor, to leverage its experience in the Brazilian dental market, which includes over 240,000 dentists. The STA system promises painless injections, shorter anesthesia wait times, and fewer complications. This expansion aligns with Milestone's strategy to penetrate new and existing markets, enhancing growth opportunities in Brazil, a significant dental market.