Posted on January 4, 2021 by Aaron Warwick
This morning, Milestone Scientific (MLSS), a developer of computerized drug delivery instruments, announced its first major win for its CompuFlo disposable product for epidural procedures. The company reported that the University of Texas Medical Branch at Galveston (UTMB) in late 2020 issued a purchase order to begin using the disposables. According to the release, UTMB is a major academic health sciences center of global influence, with medical, nursing, health professions and graduate biomedical schools; a world-renowned research enterprise; and a growing, comprehensive health system with hospitals on four campuses.
In addition to portraying excitement about this initial win, CEO Leonard Osser expressed optimism about future hospital wins: “We believe this is just the start of what can be a steady commercial rollout in the weeks and months to come. Overall, the response from both hospitals and physicians has been very positive and we are in a number of similar trials across the country that we believe and expect will convert to commercial orders.”
The stock traded up this morning as high as 17% on this announcement.
Disclosure: I am long MLSS.