Milestone Scientific appoints pain medicine leader to board of directors

ROSELAND, N.J. - Milestone Scientific Inc. (NYSE:MLSS), a medical device company with a current market capitalization of $40.75 million, has appointed Dr. Dawood Sayed to its Board of Directors, effective Monday, according to a company press release. According to InvestingPro data, the company maintains a strong gross profit margin of 72.8% despite challenging market conditions.

Dr. Sayed, a Professor of Anesthesiology and Pain Medicine at the University of Kansas Medical Center, currently serves as Division Chief of Pain Medicine, Director of Interventional Spine Services, and Director of the Center for Neuromodulation. The appointment comes at a crucial time for Milestone Scientific, which has seen its revenue grow by 7.84% over the last twelve months.

The appointment comes as Milestone Scientific, which develops computerized drug delivery instruments for painless and precise injections, seeks to expand adoption of its CompuFlo Epidural System in pain management and spine intervention markets.

Neal Goldman, Chairman of Milestone Scientific, said the appointment completes the company’s initiative to bring prominent medical voices to its Board.

Dr. Sayed also serves as Vice Chairman and Co-Founder of the American Society of Pain and Neuroscience, where he works with commercial payers, regulators, and medical device manufacturers. He received the 2025 Presidential Award from the North American Neuromodulation Society.

The company’s CompuFlo Epidural System uses pressure feedback to identify the epidural space during procedures. The technology was recently assigned a Medicare Part B payment rate under CPT code 0777T in several jurisdictions.

"I am excited to join Milestone Scientific’s Board at a time when innovation in interventional pain care is critical to improving patient outcomes and reducing opioid reliance," Dr. Sayed said in the statement. The company’s stock has faced challenges, declining over 48% in the past six months. Investors seeking deeper insights into MLSS’s financial health and growth prospects can access comprehensive analysis through InvestingPro, which offers exclusive ProTips and detailed financial metrics for informed decision-making.

Dr. Sayed has authored over 100 peer-reviewed publications and currently leads multiple clinical trials evaluating neuromodulation and spinal therapies. The company operates with a moderate level of debt and maintains a current ratio of 2.03, indicating adequate liquidity to meet short-term obligations.

In other recent news, Milestone Scientific reported its Q2 2025 financial results, which showed a slight earnings miss and a revenue shortfall. The company reported an earnings per share (EPS) loss of $0.02, compared to the forecasted loss of $0.01. Revenue for the quarter reached $2.3 million, falling short of the $2.6 million forecasted by analysts. Despite these results, Benchmark maintained a Speculative Buy rating on Milestone Scientific, citing progress in the Medicare market segment for its CompuFlo System. The company ended the second quarter with $1.3 million in cash and no debt. Additionally, Milestone Scientific has secured coverage from three of the twelve Medicare Administrative Contractors for its pain management system. Benchmark set a price target of $1.25 for the stock, reflecting confidence in the company’s market potential. These developments highlight the mixed performance and outlook for Milestone Scientific in recent times.

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