Milestone Scientific Inc. (MLSS) stock prices surged by a hefty 14.15% some time after market trading commenced on June 25th, 2021, bringing the price per share up to USD$2.34. early on in the first half of the trading day.
Revenue for the first quarter of the fiscal year 2021 was reported at USD$2.9 million, a 61% increase on the USD$1.8 million reported for the same quarter of the prior year. The company also reported a strong 32% sequential increase in sales for Q1 2021 as compared to the fourth quarter of the fiscal year 2020. Net loss was down significantly, as were operating expenses, as the company strove towards a leaner financial structure. The company’s dental segment continued to have a positive cash flow on a stand alone basis, ushering in continued growth opportunities.
The company continues to allocate resources and its primary focus towards the commercialization and proliferation of its CompuFlo Epidural System within our medical segment. As the prevalence of the CompuFlo Epidural Instrument and CathCheck System rises among medical institutions, the company continues to aggressively build the sales and market organization in preparation for the next phase of their growth.
The latest commercial orders from various renowned hospitals serve to validate the safety and efficacy of MLSS’s technology, which set it apart from conventional syringe-based applications. 2021 is expected to be a year rife with transformative growth for the medical business, with the company keen to execute their goal of setting a new standard of care for epidural procedures in labor and delivery with their medical instruments and disposables.
Strong Liquidity Position
With the company reporting USD$17 million in cash and cash equivalents as of March 31st 2021, their strong liquidity positive offers them the ability to accelerate their sales and marketing activities, centering around both dental and medical instruments. MLSS is eager to advance the development and commercialization of their proprietary DPS Dynamic Pressure Sensing Technology, which they believe to indicate further growth opportunities. With the recent changes in leadership, the company is ready for an unprecedented rest of the year.
Future Outlook for MLSS
Armed with a solid liquidity position, MLSS is poised to continue its trajectory of success as it establishes itself as the new standard in healthcare. Current and potential investors are hopeful that management will continue leverage the resources at their disposal to facilitate significant and sustained increases in shareholder value.