- Milestone Scientific (NYSEMKT:MLSS) +3% in premarket, after the company projects Q3 sales to increase more than five-fold, sequentially.
- Leonard Osser, Interim CEO of Milestone Scientific, noted, “Although we continue to witness the negative impact of the COVID-19 pandemic, I am pleased to report our dental sales have improved considerably. Specifically, dental offices throughout the country and the rest of the world have begun to reopen, as illustrated by the increase in handpiece orders."
- The company says that its sales and marketing initiatives around the CompuFlo Epidural System are also taking hold.
- As of September 30, the company had over $14M of cash on hand, and gross margins from the dental business have held steady in the high 60%.
- Given the increase in dental sales, which contribute substantial margin, cash burn during the quarter has been substantially reduced, and MLSS has no plans to raise capital.