Home Equities Score Why Milestone Scientific Inc. (MLSS) had a GOOD Friday?

Why Milestone Scientific Inc. (MLSS) had a GOOD Friday?

Milestone Scientific Inc. (MLSS) shares climbed 5.44% in after-hours on Friday, June 25, 2021, and closed the week at $2.52 per share. Earlier, MLSS’s stock gained 16.59% to close Friday’s normal trading session at $2.39 per share. MLSS shares have fallen 2.45% over the last 12 months, and they have moved up 23.83% in the past week. Over the past three months, the stock has lost 30.92%, while over the past six months, it has declined 21.94%.

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Let’s have a look at its recent news and developments.


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Medical sales team expansion

On June 23, 2021, Milestone Scientific Inc expanded its medical sales team by the appointment of Chet Trechock as VP of Sales Medical.

Mr Chet Trechock has more than 25 years of extensive experience in many reputable organizations around the globe, mostly focus on pain management, neurosurgery, neurology, and orthopedics.

Recent participation at an important conference

Milestone Scientific Inc recently participated at Best Ideas from the Buy-Side conference which held virtually on June 1st – 4th, 2021.

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The company was presented by Chief Executive Officer and President of Milestone Scientific, Arjan Haverhals, and had one on one meetings with investors and analysts throughout the conference.

Recent financial results announcement

On May 17, 2021, Milestone Scientific Inc released its financial results for the first quarter ended March 31, 2021.

Q1 2021 financial highlights

  • Milestone Scientific Inc earned a revenue of $2.9 million for Q1 2021 compared to $1.8 million for Q1 2020.
  • The gross profit was $1.8 million for the first quarter ended March 31, 2021, compared to $1.3 million for Q1 2020.
  • Total operating expenses were $2.79 million in Q1 2021 compared with $2.9 million in Q1 2020.
  • MLSS had an operating loss of approximately $1.0 million in Q1 2021compared to approximately $1.6 million for the first quarter ended March 31, 2020.
  • It suffered a net loss of $1.0 million, or $0.01 per share in Q1 2021 compared to a net loss of $1.6 million, or $0.03 per share, for the comparable period in 2020.

New CEO and  CFO appointments

On May 13, 2021, the Board of Directors of Milestone Scientific Inc promoted Jan Adriaan (Arjan) Haverhals, President of the Company, to also serve as Chief Executive Officer of the company, effective May 19, 2021, after Leonard Osser announced his intention to resign as Interim Chief Executive Officer.

The company elected Leonard Osseras Vice Chairman of the Board of Directors of the Company, effective May 19, 2021.

Scott Kahn was also appointed as the new Chief Financial Officer, effective May 24, 2021. Mr. Kahn replaced Joseph D’Agostino who retired from Milestone Scientific in April 2021.

>> 7 Top Picks for the Post-Pandemic Economy << 

Conclusion

MLSS stock’s good performance on Friday has no grounds at the moment because we had no recent news or development which could justify its gain on Friday. there are high chances that MLSS will continue its positive momentum after the weekend as well.

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