Expands senior leadership team and board of directors to support next phase of growthROSELAND, N.J., Aug. 14, 2025 (GLOBE NEWSWIRE) -- Milestone Scientific Inc. (NYSE: MLSS), a leading developer of computerized drug delivery instruments that provide painless and precise injections, today provides a business update and reported financial results for the second quarter ended June 30, 2025. Neal Goldman, Chairman of the Board, stated, “We are pleased with our revenue performance in the second quarter, deliveri ...

Core Insights - Milestone Scientific Inc. has initiated commercial sales of its CompuFlo® Epidural System at The Painless Center in Tenafly, New Jersey, marking a significant step in its market expansion [1][3] Company Overview - Milestone Scientific Inc. is a technology-focused medical research and development company that specializes in innovative injection technologies for medical and dental applications [5] - The company utilizes its proprietary DPS Dynamic Pressure Sensing® technology to enhance the precision and safety of injections [5] Product Details - The CompuFlo Epidural System provides real-time feedback to anesthesiologists, allowing for accurate identification of the epidural space, which can reduce complications and improve success rates in epidural procedures [3][4] - Clinical studies indicate that the CompuFlo system can significantly decrease false loss of resistance during procedures [3] Leadership and Adoption - Dr. Chi-Shin Jason Chiu, a double board-certified physician, leads The Painless Center and is recognized for his commitment to adopting advanced technologies to improve patient outcomes [2] - The adoption of the CompuFlo system by Dr. Chiu reflects its growing appeal and the company's expanding presence in the interventional pain market [3][4] Strategic Initiatives - Milestone Scientific is actively advancing its sales and marketing initiatives to increase awareness and accelerate the adoption of the CompuFlo system across the U.S. and international markets [4]

Core Insights - Milestone Scientific Inc. has appointed Shanth Thiyagalingam to its Board of Directors, effective May 14, 2025, bringing over 20 years of experience in commercial scaling and product innovation in the medical device and pharmaceutical industries [1][3]. Company Strategy - The appointment supports Milestone Scientific's strategy to enhance the adoption of its CompuFlo® Epidural System and expand access under favorable Medicare Part B payment rates for CPT code 0777T [3]. - The company aims to advance commercial initiatives through its Federal Supply Schedule (FSS) contract award [3]. Leadership Experience - Thiyagalingam has a proven track record in leading high-growth medical device companies, particularly in reimbursement strategy and securing CPT code approvals [3]. - He previously served as CEO of PainTEQ, where he transformed the company from a startup to a recognized innovator in interventional pain therapy, leading M&A initiatives and securing a Category 1 CPT code for a new therapy [4][5]. Previous Roles - Thiyagalingam held senior positions at Abbott, overseeing commercial strategy in the Asia-Pacific region, and at Nevro, where he significantly increased division revenue [5][6]. - His early career included roles at Stryker and St. Jude Medical, focusing on strategic growth and product launches across various regions [6]. Educational Background - He holds a Bachelor of Medical Science, a Master's in Marketing Management, and an MBA, and is a certified Gallup Strengths Coach [7]. Company Overview - Milestone Scientific Inc. specializes in developing innovative injection technologies for medical and dental applications, utilizing its proprietary DPS Dynamic Pressure Sensing Technology to enhance patient comfort and safety [8].

Core Viewpoint - Milestone Scientific Inc. is experiencing increased adoption of its CompuFlo® Epidural System, driven by favorable Medicare payment rates and a focus on expanding its presence in federal healthcare settings [2][3]. Business Update - The company reported a slight revenue decrease to approximately $2.2 million for the first quarter ended March 31, 2025, compared to the same period in 2024 [3]. - Medical revenue saw a significant increase to approximately $51,000 in Q1 2025 from $7,400 in Q1 2024, indicating growing traction for the CompuFlo technology [3]. - The company is actively engaging with Jurisdictional Medicare Administrative Contractors (JMACs) to expand its reimbursement framework, which is seen as a critical catalyst for adoption [2]. Financial Performance - Gross profit for Q1 2025 was $1.6 million, representing 74% of revenue, slightly down from 75% in Q1 2024 [4]. - The operating loss increased to approximately $(2.0) million in Q1 2025 from $(1.5) million in Q1 2024 [4]. - The net loss for Q1 2025 was approximately $(2.0) million, or $(0.02) per share, compared to a net loss of $(1.4) million, or $(0.02) per share, in Q1 2024 [5]. Strategic Initiatives - The company has secured a contract under the Federal Supply Schedule (FSS) to facilitate access to CompuFlo in federal healthcare settings, including the Department of Veterans Affairs and the Department of Defense [2]. - Milestone Scientific has maintained stable performance in its dental business while exercising financial discipline, including delaying non-essential R&D [2]. - The company secured $800,000 in convertible financing from board members, indicating strong confidence in its growth trajectory [2].

Core Insights - Milestone Scientific Inc. is focusing on expanding its CompuFlo® Epidural System in the U.S. following favorable Medicare pricing assignments, which significantly broaden the addressable market for the technology [3][4] - The company reported a decrease in total revenue for 2024, amounting to approximately $8.6 million, down from $9.8 million in 2023, while e-commerce revenue showed growth [4][6] - The company is optimistic about its future growth prospects in both the dental and medical segments, with positive initial performance in Q1 2025 [3][7] Business Update - The company has established reimbursement infrastructure for the CompuFlo® Epidural System, with Medicare Part B payment rates assigned in multiple states, enhancing market access [3] - A contract for the Federal Supply Schedule (FSS) has been awarded, allowing federal medical facilities to purchase the CompuFlo system, targeting adoption within the U.S. Department of Veterans Affairs and other federal healthcare systems [3] - Strong commercial traction is noted in the private sector, with new rollouts at various pain management clinics and ambulatory surgery centers [3] Financial Performance - Revenue for 2024 was approximately $8.6 million, a decrease of about $1.2 million from 2023 [4] - E-commerce revenue reached approximately $5.1 million in 2024, compared to $4.8 million in 2023, indicating growth in this segment [4] - The company recorded an operating loss of $6.8 million in 2024, an improvement from a loss of $7.1 million in 2023, driven by higher-margin e-commerce sales [7] Market Position - The STA Single Tooth Anesthesia System remains a leader in computer-controlled local anesthetic delivery, with over 95 million injections administered to date [3] - The company is leveraging its leadership in the dental segment through an expanded direct-to-consumer e-commerce platform, which is enhancing margins and customer engagement [3] - The clinical response to the CompuFlo system has been positive, positioning the company to capitalize on growth opportunities in the medical field [3][7]

Core Insights - Milestone Scientific Inc. is expanding the adoption of its CompuFlo® Epidural System in pain management clinics and ambulatory surgery centers following favorable Medicare pricing assignments in multiple U.S. states [1][2] - The company reported a decrease in total revenue for 2024, amounting to approximately $8.6 million, down from $9.8 million in 2023, while e-commerce revenue showed growth [3][4] - The company is optimistic about its future growth prospects in both the dental and medical segments, with positive initial performance in Q1 2025 [2][6] Business Update - The company has established a reimbursement infrastructure for the CompuFlo® Epidural System, with favorable Medicare Part B payment rates assigned by First Coast Service Options and Novitas Solutions [2] - The Medicare pricing decisions have expanded the addressable market significantly, and the company is pursuing further reimbursement approvals to enhance national expansion [2] - A contract for the Federal Supply Schedule has been awarded, allowing federal medical facilities to purchase the CompuFlo system, targeting adoption within the U.S. Department of Veterans Affairs and other federal healthcare systems [2] Financial Performance - Total revenue for 2024 was approximately $8.6 million, a decrease of about $1.2 million from 2023 [3] - E-commerce revenue reached approximately $5.1 million in 2024, compared to $4.8 million in 2023, indicating growth in this segment [3] - The company recorded an operating loss of $6.8 million in 2024, an improvement from a loss of $7.1 million in 2023, driven by higher-margin e-commerce sales [6] Market Position - The STA Single Tooth Anesthesia System remains a leader in computer-controlled local anesthetic delivery, with over 95 million injections administered to date [2] - The company is seeing strong commercial traction in the private sector, with new rollouts at various pain management clinics and ambulatory surgery centers [2] - The strategic partnership with Axial Biologics is enhancing the distribution footprint in key U.S. markets [2]

Core Insights - Milestone Scientific Inc. has announced the integration of its CompuFlo® Epidural System at InfiniSurg, LLC, a New Jersey-based ambulatory surgery center, enhancing its clinical practice with advanced technology [1][3][4] Company Overview - Milestone Scientific Inc. (NYSE: MLSS) specializes in developing computerized drug delivery instruments aimed at providing painless and precise injections, focusing on improving patient comfort and safety [5] - The company’s proprietary Dynamic Pressure Sensing Technology® is designed to enhance the precision of injections and reduce complications associated with traditional methods [5] Technology and Innovation - The CompuFlo® Epidural System utilizes objective pressure sensing technology to provide real-time feedback, which may enhance procedural confidence and reduce complications during epidural placements [3][4] - The system aims to establish a new standard of care for epidural procedures by improving procedural efficiency and patient safety through visual and audible feedback mechanisms [4] Leadership and Expertise - Dr. Roman Kosiborod, a highly experienced anesthesiologist and pain management physician, will utilize the CompuFlo® Epidural System at InfiniSurg, bringing over two decades of expertise in interventional pain management [2][3] - InfiniSurg is recognized for its patient-centric approach and commitment to innovation in outpatient surgical care, aligning with Milestone's mission to leverage advanced technologies for better patient outcomes [3]