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MILESTONE SCIENTIFIC
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Shares Enter Breakout Territory
Revenues Soar – Dental
These shares are ready to advance to the next level driven by higher than expected revenues and the decrease in Covid cases allowing dental offices to fully reopen.
These shares have recently broken above $2.00 signaling an advance towards the year high of $4.85. Longer term we have set a target price of $7.50
We urge all serious investors to immediately place these shares on their BUY LIST
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Milestone Scientific Announces International Expansion for their CompuFlo® Epidural Instrument
Signs distributors in Canada, Slovenia and United Arab Emirates; expands commercial usage at leading hospital in Germany
ROSELAND, N.J., Oct. 14, 2021 (GLOBE NEWSWIRE) — Milestone Scientific Inc. (NYSE:MLSS), a leading developer of computerized drug delivery instruments, that provide painless and precise injections, today reported that it has added three new international distributors for the CompuFlo Epidural Instrument , including Andau Medical in Canada, Sanolabor DD in Slovenia and New Al Farwaniya Surgicals and Medical Equipment LLC in the United Arab Emirates.
“The CompuFlo Epidural Instrument is an important and revolutionary advancement that will significantly improve women’s health during one of the most pivotal moments in life, the birth of a child,” said Sandi Wright, founder and CEO of Andau Medical. “Our collaboration with Milestone Scientific to bring this technology to Canada is a critical step towards providing all women with access to pain relief during labor that is both safe, and with a decreased risk of side effects. The CompuFlo Epidural Instrument not only improves patient outcomes, but also decreases overall cost to the health system, which is an important consideration for the Canadian publicly funded health system.”
Arjan Haverhals , CEO of Milestone Scientific , stated, “We are pleased to have expanded our international network with these distributors in key global markets. Each brings extensive relationships and a proven track record of introducing medical devices to their respective markets. The global network we are developing demonstrates the strong interest and growing demand for the CompuFlo Epidural Instrument. Andau Medical, Sanolabor and New Al Farwaniya are important additions, and assist in further adoption of our epidural instrument.”
“Additionally, we have witnessed increased usage at the University Hospital of Würzburg , a leading national hospital and medical teaching institute in Germany, which provides a strong case study for further expansion activities in Europe. We believe this also illustrates the positive response among physicians as they increase utilization of the CompuFlo Epidural Instrument within their practice. We look forward to advancing our commercialization efforts around the world, as we aim to establish the CompuFlo Epidural Instrument as the new standard of care,” concluded Mr. Haverhals.
Abraham Scheer, M.D., DABPN, with over 40 years of clinical experience as a neuro-hospitalist, states that he has seen too many cases of inadvertent epidural needle placement resulting in complications. Dr. Scheer commended Tracie White’s article in the August 2, 2021 issue of Scope , published by Stanford Medicine, titled: ” Post epidural headaches can be more serious than previously known .” Dr. Scheer went on to note, “I have known for many years the dural puncture rate is much higher than described in the literature.” Dr. Scheer praised Milestone Scientific for their FDA approved innovative technology, specifically developed for epidural anesthesia. He continued, “This FDA approved computer assisted technology can drastically reduce or eliminate the vast majority of the complications such that success rates, patient satisfaction, and patient safety are improved, while iatrogenic injury and potential liability are decreased.”
The CompuFlo Epidural Instrument offers objective detection of pressure changes to verify true loss of resistance and confirm epidural space within minutes. The clinical and safety benefits of the CompuFlo Epidural and CathCheck Verification Systems are backed by extensive published clinical data demonstrating significant reductions in epidural punctures, as well as complication rates, and contribute to a significant savings of time on the part of anesthesiologists.
About Andau Medical
Andau Medical is a Medical Device and Dental Device company focused on providing the market with quality technologies that improve patient outcomes and enhance the clinical experience in delivering exceptional patient care. Andau has expertise in sales, marketing, regulatory and distribution. thereby enabling quick market uptake of both existing and new technologies.
About Sanolabor DD
Sanolabor is a wholesale, marketing and distribution company, specialized in health care and laboratory products. Sanolabor is the largest Slovenian company for wholesale and marketing of medical devices, medical and hospital equipment and consumables, equipment for laboratories, medicines, personal protection products and dental products.
About New Al Farwaniya Surgicals & Medical Equipment LLC
New Al Farwaniya was founded in 1981. The company was established with the strategy to service the medical sector in Abu Dhabi and Dubai, and has since become one of the oldest and largest distributors/suppliers in the health care sector in United Arab Emirates.
About Milestone Scientific Inc.
Milestone Scientific Inc. (MLSS), a technology focused medical research and development company that patents, designs and develops innovative injection technologies and instruments for medical, dental and cosmetic applications. Milestone Scientific’s computer-controlled systems are designed to make injections precise, efficient and increase the overall patient comfort and safety. Their proprietary DPS Dynamic Pressure Sensing Technology ® instruments is the platform to advance the development of next-generation devices, regulating flow rate and monitoring pressure from the tip of the needle, through platform extensions of subcutaneous drug delivery, including local anesthetic. To learn more, view the MLSS brand video or visit milestonescientific.com
Milestone Scientific Approved as Vendor to Supply CompuFlo® Epidural/ CathCheck(TM) Verification System Across Florida’s Memorial Heathcare System
ROSELAND, N.J., Oct. 04, 2021 (GLOBE NEWSWIRE) — Milestone Scientific Inc. (NYSE:MLSS), a leading developer of computerized drug delivery instruments, that provide painless and precise injections, today reported that Memorial Regional Hospital in Hollywood, Fla., has begun the use of the CompuFlo Epidural Instrument . Memorial Regional Hospital is the flagship facility of the healthcare system and is one of the largest hospitals in Florida. Additionally, Milestone has received approval to eventually supply its CompuFlo Epidural and CathCheck Verification System disposables across Memorial Healthcare System network of hospitals, which also includes Joe DiMaggio Children’s Hospital, Memorial Regional Hospital South, Memorial Hospital West, Memorial Hospital Miramar and Memorial Hospital Pembroke.
Arjan Haverhals , CEO of Milestone Scientific , stated, “We are excited to receive this approval for use of our CompuFlo Epidural and CathCheck Verification System disposables within Memorial Regional Hospital. This approval follows extensive due diligence of our instrument within the hospital system. The validation of our system by this prestigious and renowned hospital system is most rewarding and beneficial to us at Milestone Scientific. This latest approval is a direct result of our new sales force expansion initiatives, and I’m encouraged by the growth of our sales pipeline and potential near-term opportunities.”
The clinical and safety benefits of the CompuFlo Epidural and CathCheck Verification Systems are backed by extensive published clinical data demonstrating significant reductions in epidural punctures, as well as complication rates, and contribute to a significant savings of time on the part of anesthesiologists.
Professor G. Capogna, anesthesiologist, author of the book entitled “Epidural Technique in Obstetric Analgesia” and member of the Scientific Advisory Board of Milestone Scientific, stated in his recent book: “Among new techniques, continuous real-time pressure-sensing technology is the only one that has been successfully validated and used in an adequate number of patients and that therefore may be considered as a new, promising technology with the potential of becoming the future standard for the epidural technique.”
The CompuFlo Epidural Instrument has the potential to significantly reduce costs associated with morbidity, providing a direct economic benefit to healthcare institutions. Similarly, the CathCheck Verification System technology has the potential to transform the monitoring of catheter placement following an epidural procedure by confirming the placement of a catheter within two minutes, versus the 20 to 40 minutes using conventional methods.
Milestone Scientific Reports Fourteen-Fold Increase in Revenue for Second Quarter of 2021
ROSELAND, N.J., Aug. 16, 2021 (GLOBE NEWSWIRE) — Milestone Scientific Inc . (NYSE:MLSS), a leading developer of computerized drug delivery instruments that provide painless and precise injections, today provided a business update and announced financial results for the second quarter ended June 30, 2021.
Arjan Haverhals, President and Chief Executive Officer of Milestone Scientific, commented, “We achieved a fourteen-fold increase in revenue to $2.4 million versus $168,000 for the same period last year, reflecting the strong recovery in our dental business, as well as the initial impact of our new sales and marketing initiatives. Importantly, our dental segment remains cash flow positive on a standalone basis with continued growth opportunities. In terms of our CompuFlo® Epidural and CathCheck™ Systems, we are beginning to see the positive effect of our commercial efforts and are encouraged by the traction we are gaining with healthcare institutions. We have significantly expanded our direct sales force with the addition of 9 new sales executives this year, as well as a new Vice President of Sales for our Medical segment. These initiatives are taking hold and our sales pipeline is robust. We are in late stage discussions with a number of hospitals, and the feedback from both anesthesiologists and the healthcare institutions has been positive, given the safety and economic benefits of our instruments. We are also in the process of adding new international distributors to build upon the traction we are gaining in the domestic market. We continue to maintain a strong balance sheet with approximately $16.0 million in cash and cash equivalents as we drive forward our commercial initiatives, while continuing to carefully manage our expenses. Although we faced challenges during the pandemic, we are back on a strong growth trajectory and I am encouraged by the outlook for the balance of 2021 and beyond.”
For the three months ended June 30, 2021 and 2020, revenues were approximately $2.4 million and $168,000, respectively. Dental revenues increased approximately $2.3 million, due in part to the re-opening of dental offices throughout the country and the rest of the world. Gross profit for the second quarter ended June 30, 2021 was $1.4 million versus $112,000 for second quarter ended June 30, 2020. Operating loss for the three months ended June 30, 2021 was approximately $(2.9) million versus approximately $(3.2) million for the second quarter ended June 30, 2020. Net loss was approximately $(2.7) million, or $(0.04) per share for the three months ended June 30, 2021, versus net loss of $(3.2) million, or $(0.06) per share, for the comparable period in 2020.
For the six months ended June 30, 2021 and 2020, revenues were approximately $5.3 million and $2.0 million, respectively. Dental revenues increased by approximately $3.4 million due in part to the re-opening of dental offices throughout the country and the rest of the world. Gross profit for the first six months of 2021 was $3.2 million versus $1.4 million for the first six months of 2020. Operating loss for the first six months of 2021 was approximately $(3.9) million versus approximately $(4.7) million for the first six months of 2020. Net loss for the first six months of 2021 was $(3.7) million, or $(0.05) per share, versus net loss of $(4.8) million, or $(0.09) per share, for the comparable period in 2020.
Conference Call
Milestone Scientific’s executive management team will host a conference call at 11:00 A.M. Eastern Time on Monday, August 16, 2021 to discuss the Company’s financial results for the second quarter ended June 30, 2021, as well as the Company’s corporate progress and other developments.
The conference call will be available via telephone by dialing toll free 1- 844-369-8770 for U.S. callers or 862-298-0840 for international callers. A webcast of the call may be accessed at https://www.webcaster4.com/Webcast/Page/2306/42492 or on the Company’s website at https://www.milestonescientific.com/investors/news-events .
An audio replay of the call will be available through August 30, 2021 and can be accessed by dialing 877-481-4010 for U.S callers or 919-882-2331 for international callers and by entering the access code: 42492.
About Milestone Scientific Inc.
Milestone Scientific Inc . (MLSS), a technology focused medical research and development company that patents, designs and develops innovative injection technologies and instruments for medical, dental and cosmetic applications. Milestone Scientific’s computer-controlled systems are designed to make injections precise, efficient and increase the overall patient comfort and safety. Milestone Scientific’s proprietary DPS Dynamic Pressure Sensing Technology® instruments is the platform to advance the development of next-generation devices, regulating flow rate and monitoring pressure from the tip of the needle, through platform extensions of subcutaneous drug delivery, including local anesthetic. To learn more, view Milestone Scientific’s brand video or visit milestonescientific.com.
Safe Harbor Statement
This press release contains forward-looking statements regarding the timing and financial impact of Milestone’s ability to implement its business plan, expected revenues, timing of regulatory approvals and future success. These statements involve a number of risks and uncertainties and are based on assumptions involving judgments with respect to future economic, competitive and market conditions, future business decisions and regulatory developments, all of which are difficult or impossible to predict accurately and many of which are beyond Milestone’s control. Some of the important factors that could cause actual results to differ materially from those indicated by the forward-looking statements are general economic conditions, failure to achieve expected revenue growth, changes in our operating expenses, adverse patent rulings, FDA or legal developments, competitive pressures, changes in customer and market requirements and standards, and the risk factors detailed from time to time in Milestone’s periodic filings with the Securities and Exchange Commission, including without limitation, Milestone’s Annual Report for the year ended December 31, 2020 . The forward-looking statements in this press release are based upon management’s reasonable belief as of the date hereof. Milestone undertakes no obligation to revise or update publicly any forward-looking statements for any reason.
Neither PSN nor its owners, members, officers, directors, partners, consultants, nor anyone involved in the publication of this website, is a registered investment adviser or broker-dealer or associated person with a registered investment adviser or broker-dealer and none of the foregoing make any recommendation that the purchase or sale of securities of any company profiled in the PSN website is suitable or advisable for any person or that an investment or transaction in such securities will be profitable. The information contained in the PSN website is not intended to be, and shall not constitute, an offer to sell nor the solicitation of any offer to buy any security. The information presented in the PSN website is provided for informational purposes only and is not to be treated as advice or a recommendation to make any specific investment. Please consult with an independent investment adviser and qualified investment professional before making an investment decision. Writer owns 20,000 shares