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ROSELAND, N.J. - Milestone Scientific Inc. (NYSE: NYSE:MLSS), a developer of advanced drug delivery instruments with a market capitalization of $101 million, has announced the commercial introduction of its CompuFlo® Epidural System at Advanced Spine and Pain Management, a leading pain management clinic. This development follows a successful pilot program with Dr. Varinder Dhillon, who endorsed the system's ability to improve patient safety and procedural efficiency. According to InvestingPro data, the company's stock has delivered an impressive 107% return over the past year, trading near its 52-week high of $1.32.
The CompuFlo® Epidural System, which uses Milestone Scientific's patented Dynamic Pressure Sensing Technology®, offers real-time feedback for accurate needle placement, aiming to reduce complications compared to traditional epidural techniques. Dr. Dhillon's positive experience with the system at Advanced Spine and Pain Management has been a testament to its potential benefits in clinical settings.
With the system now operational at SurgiCore Montvale, one of 12 SurgiCore centers in the New York/New Jersey area, there is an opportunity for wider adoption within the network. The company also notes a growing acceptance of the CompuFlo® Epidural System, bolstered by the recent Medicare price assignment, indicating its clinical and economic advantages. While InvestingPro analysis shows the company maintains a healthy current ratio of 2.85 and impressive gross margins of 72%, investors should note that additional valuable insights are available through InvestingPro's comprehensive research reports.
Neal Goldman, Chairman and Interim CEO of Milestone Scientific, expressed optimism about the system's uptake in the healthcare community, attributing the trend to the recent Medicare pricing and the technology's merits.
Milestone Scientific specializes in technology-driven medical R&D, focusing on injection technologies for both medical and dental applications. Their proprietary systems aim to enhance precision, efficiency, and patient comfort and safety.
The information provided in this article is based on a press release statement from Milestone Scientific Inc.
In other recent news, medical device company Milestone Scientific Inc. reported significant developments. The company's Q3 2024 revenue saw a 22% year-over-year increase, reaching $2.5 million, largely driven by a 57% surge in international dental sales. Despite this robust revenue growth, the firm recorded a net loss of $1.5 million for the quarter, while maintaining strong gross margins at 73%.
In addition, the company announced the immediate resignation of director Mr. Giandomenico Trombetta due to personal reasons, as stated in a recent 8-K filing with the Securities and Exchange Commission. Mr. Trombetta's departure does not stem from any disagreements with the company's operations, finances, or policies.
Milestone Scientific's medical division made substantial strides with its CompuFlo Epidural System, now receiving Medicare Part B reimbursement, which is expected to boost its adoption in pain management clinics. In another development, the company secured regulatory approval for CompuFlo in Brazil, marking an expansion in its international reach. These are recent developments that give an insight into the company's current activities and performance.
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