Let’s face it, the injection experience for some doctors and patients is outdated, and the traditional syringe has been unchanged for nearly 160 years.
Even with improvements in the healthcare industry, hypodermic syringes have stayed the same.
Now, Milestone Scientific Inc. (NASDAQ:MLSS) is looking to change the game and committed to advancing the science of computer-controlled drug delivery system, offering efficiency and patient comfort gains for both the medical and dentistry fields.
Milestone Scientific (NASDAQ: MLSS) Company Profile
Milestone Scientific is a leading medical research and development (R&D) company that’s designing and patenting innovative injection technology. With Milestone’s innovative computer-controlled systems, medical and dentistry professionals are able to make efficient, precise and virtually painless injections, and could take a large portion of the traditional injections market share.
MLSS offers its revolutionary DPS Dynamic Pressure Sensing Technology, which aims to meet the needs of various subcutaneous, or under-the-skin, drug delivery injections and fluid aspiration. This groundbreaking technology enables healthcare professionals to attain a plethora of unique benefits, which cannot currently be accomplished with the traditional manual syringe. This technology is Mileston Scientific’s patented system that has been used in over 65M dental injections.
The DPS Dynamic Pressure Sensing Technology has innovative features, allowing medical professionals to: measure tissue density to identify the exact needle location, control the flow rate of fluid, and provide precise tactile control. In turn, patients are able to receive injections and fluid aspiration with less pain.
Milestone Scientific’s technology empowers clinicians to receive real-time continuous feedback as to the local tissue conditions during the injection process. With the real-time feedback, healthcare professionals are able to accurately differentiate and identify specific tissue types and anatomical locations, making subcutaneous drug delivery safer, more effective and easier, transforming the traditional injection market.
Milestone Scientific’s Product Line
Milestone Scientific currently has three featured products: The Wand, CompuFlo Epidural and CompuFlo Intra-Articular.
The Wand is a computer-assisted system for local anesthesia. The Wand is the market leader in injection technology, and it’s the first of its kind and the best in its class. That in mind, MLSS has first mover advantage in the space, and differentiates itself from companies offering traditional local anesthesia injections.
The benefits of The Wand Computer Assisted Anesthesia System include: patient satisfaction, a new marketing opportunity, less stress and more options and flexibility for dentists, and increased productivity due to its rapid onset. When dentists use this technology, patients are more comfortable and less anxious, and The Wand could eliminate collateral numbness, allowing patients to get on with their day without a numb face.
Dentists are already implementing this technology, and there are hundreds of dentists across the U.S. As more doctors adopt Milestone Scientific’s The Wand product, the company should generate higher revenues and earnings, which should boost the company’s stock price.
Milestone Scientific (NASDAQ:MLSS) also offers CompuFlo Epidural, a safe and effective way to administer epidurals using pressure-sensing technology, offering a multitude of benefits for both medical professionals and patients.
Medical professionals, specifically anesthesiologists, are able to use both hands to advance and direct the needle, as well as objectively confirm, in real time, the epidural space with 99% success on the first attempt.
Unlike traditional epidural injections, there’s a lower likelihood that doctors need to reposition needle over multiple attempts, benefitting patients. Moreover, CompuFlo Epidural offers the potential for a radiation-free solution for identifying the epidural space in pain management patients.
CompuFlo Epidural leverages Milestone Scientific’s patented DPS Dynamic Pressure Sensing Technology, which helps to differentiate tissue types for medical professionals via audio and visual feedback. Consequently, this leads to precise location guidance as the needle advances toward the intended injection area. This helps to reduce the number of required attempts to accurately identify the epidural space, potentially making the patient’s experience less painful.
MLSS announced in June 2017 that CompuFlo Epidural Computer Controlled Anesthesia System received 510(k) clearance from the U.S. Food and Drug Administration (FDA). Based on both nonclinical and clinical tests that were conducted, Milestone Scientific demonstrated CompuFlo Epidural device’s safety, efficacy and performance, in relation to other legally marketed predicate devices.
According to former Milestone Scientific CEO Leonard Osser, “Looking ahead, we are now focused on reaching out to the top KOLs in the U.S., as we have been doing successfully across Europe. The CompuFlo® Epidural System’s ease of use allows use by medical professionals with varying levels of experience, which further drives the value proposition of this technology. In addition, due to what we see as the device’s add-on value proposition, we plan to seek reimbursement codes over and above those already in place for traditional epidural procedures.”
Not only that, but MLSS recently announced that its CompuFlo Epidural System was successfully utilized in over 500 epidural procedures, including pain management, and labor and delivery. The CompuFlo Epidural System has been implemented in various settings at multiple leading institutions in Europe, South America, and the U.S.
MLSS Chairman and Interim CEO Leslie Bernhard stated, “Following our recent 510(k) clearance from the U.S. Food and Drug Administration, I am pleased to report we are successfully executing our strategy of placing the CompuFlo® Epidural System with key opinion leaders in the U.S., Europe and around the world. To date, we have successfully completed over 500 procedures with zero complications. These results are particularly significant considering the potential risk factors associated with a traditional epidural procedure.”
Milestone Scientific’s CompuFlo Intra-Articular Instrument allows medical professionals to administer accurate joint injections, without the risk of radiation. Although the CompuFlo Intra-Articular Instrument is not available in the U.S. yet, the company could file for FDA approval in the U.S., and if it’s able to receive approval for this product, MLSS could see further growth in its revenue and earnings, potentially driving the stock higher.
Now, there are numerous benefits for medical professionals and patients. The CompuFlo Intra-Articular Instrument provide medical professionals with:
- Precise computerized injection and drug delivery accuracy
- Needle deflection prevention
- Portable, reliable, versatile technology
- Lightweight and easy to use with two power sources, a standard AC plug, as well as a built-in lithium-ion battery pack
- 1 USB 2.0 port located on the rear off the instrument for allowing transfer of patient files in a .csv format for permanent storage
Additionally, CompuFlo Intra-Articular is designed to regulate the flow of fluid in order to reduce patient discomfort.
Milestone Scientific Could Tap into the Billion Dollar Syringe Market
There are a plethora of markets that Milestone Scientific could take a large portion of. According to Grand View Research, the global disposable syringes market size was valued at $6.4B in 2015, and this market is expected to grow due to the increasing demand for injectable drugs. By 2024, the global disposable syringes market is expected to reach $9.9B.
Additionally, according to Markets and Markets Research the prefilled syringes market is expected to reach $6.36B by 2021, from $3.93B in 2016, or a compound annual growth rate of 10.1% for the forecast period.
Not only that, but Grand View Market Research also projects the U.S. smart syringes market to grow to more than $3B by 2024, from just over $1.5B in 2015.
Milestone Scientific’s Competitors Are Thriving, and They Could Look to Acquire MLSS
Baxter International (BAX) is one of Milestone Scientific’s competitors, and it could look to acquire MLSS.
BAX has seen a strong rise in its stock price since the beginning of 2017, growing nearly 30% year to date.
Illumina Inc. (ILMN), another competitor of MLSS, has also seen some strength, rising over 55% year to date.
As more healthcare professionals shift towards Milestone Scientific’s products, MLSS could take a large chunk of the market share from its competitors. Additionally, this makes MLSS a potential acquisition target for large healthcare companies, due to its innovative and highly beneficial products.
With MLSS competitors growing significantly in market value, they could look to acquire MLSS for its technology, rather than conducting R&D and spending billions of dollars to try to develop technology similar to that of MLSS.
Milestone Scientific has over 20 patents, and its changing the way healthcare professionals provide injections to patients. With The Wand, CompuFlo Epidural and CompuFlo Intra-Articular, MLSS is well positioned to take market share from its competitors, in the injections and syringes markets.
With MLSS receiving 510(k) FDA clearance for CompuFlo Epidural Instrument, as well as the company’s announcement of more than 500 successful procedures using the system, competitors and investors might start taking notice of the growth potential in Milestone Scientific. Additionally, the patented DPS Dynamic Pressure Sensing Technology has been used in 65M dental injections, and once more dentists and doctors adopt this system, there should be a strong rise in MLSS sales and earnings, which are some of key drivers of the stock.
MLSS has a compelling story and is innovating the way medical professionals conduct injections, and it seems like it’s one catalyst away from a large move, to the upside. Investors and traders who want exposure to the micro-cap healthcare market may want to consider MLSS due to its growing presence in the traditional injections market.
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