RB 20/2014:Milestone Medical Inc. 2Q 2014 Business Update and Investor Conference Call
Firma: MILESTONE MEDICALSpis treści:
1. RAPORT BIEŻĄCY
2. PODPISY OSÓB REPREZENTUJĄCYCH SPÓŁKĘ
| European Contacts:<br /> Dom Maklerski WDM S.A.<br /> Email: us@wdmcapital.com<br /> Tel: (+48 71) 79 11 555<br /> David Waldman or Natalya Rudman Crescendo Communications Europe S.A. Email: mmd@crescendo-ir.com Milestone Medical Inc. Provides Second Quarter 2014 Business Update LIVINGSTON, NJ, August 18, 2014 -- Milestone Medical Inc. (WAR: MMD), today provided a business update for the second quarter ended March 31, 2014. Leonard Osser, Chief Executive Officer of Milestone Medical stated, “We are making further progress in advancing our epidural and intra-articular instruments through the regulatory process. Although the approval process can be somewhat unpredictable, we currently expect to receive European regulatory (CE) approval on our epidural instrument before the end of 2014 and we expect U.S. FDA approval will most likely occur in the second half of 2015. We expect both FDA and CE approval for our intra-articular instrument in 2015.” Mr. Osser continued, “We are continuing to pursue strategic partners and distributors so that we will be better positioned after regulatory approval is received. We previously announced a strategic partnership with Tri-anim Health Services, Inc., one of largest specialty distributors of healthcare products in the United States, to market and sell our epidural instrument. We are seeking similar partners in Europe for our epidural instrument, as well our intra-articular instrument in both North America and Europe. Towards this end, we hired two new full time employees during the second quarter - a Director of Sales and Business Development and an instrument trainer. We also recently appointed Steven Robins as Marketing Consultant. Prior to joining Milestone, Steve was Chief Marketing Officer of the Vision Care division of BAUSCH + LOMB where he was responsible for all marketing for the $1.3 billion global Vision Care business unit. He brings an impressive background overseeing marketing and operations for billion dollar divisions of Fortune 500 healthcare and consumer product companies. His expertise with positioning, branding and lead generation coupled with his business-to-business and consumer marketing experience are well suited to Milestone Medical’s needs.” Mr. Osser concluded, “We have carefully managed our expenses and had over $1.4 million of cash with no debt and over $3.1 million of shareholders’ equity at the end of the second quarter, which we believe will be sufficient capital to carry us through regulatory approval. We are also in the process of filing a Prospectus to raise up to $7 million for the continued expansion of our sales and marketing initiatives, and additional working capital for the next phase of the planned rollout of our epidural and intra-articular instruments. At the same time, we are pursuing grant funding in Europe. We also remain focused on uplisting from the NewConnect Market to the Main Market of the Warsaw Stock Exchange, which we believe will help increase awareness and expand the number of potential investors in the company. We expect to complete the uplisting process in the second half of this year, subject to completion of our proposed financing.” Conference Call Milestone Medical’s executive management team will host a conference call at 4:00 p.m. Central European Time (10:00 a.m. Eastern Time), on Monday, August 18, 2014. The conference call can be accessed via a live Internet webcast on the Company's website at www.medicalmilestone.com. A webcast replay of the conference call will be accessible on the Company’s website at www.medicalmilestone.com for 90 days. About Milestone Medical Inc. Milestone Medical, Inc. has developed epidural and intra-articular drug delivery systems based on a patented, painless, computer-controlled injection and drug delivery technology originally developed by Milestone Scientific, Inc. Development of both the epidural and intra-articular instruments is now complete and the Company is currently pursuing regulatory approval for both instruments in the U.S. and European Union. For more information please visit www.medicalmilestone.com. Safe Harbor Statement This press release contains forward-looking statements regarding the timing and financial impact of Milestone's ability to implement its business plan, expected revenues and future success. These statements involve a number of risks and uncertainties and are based on assumptions involving judgments with respect to future economic, competitive and market conditions and future business decisions, all of which are difficult or impossible to predict accurately and many of which are beyond Milestone's control. Some of the important factors that could cause actual results to differ materially from those indicated by the forward-looking statements are general economic conditions, failure to achieve expected revenue growth, changes in our operating expenses, adverse patent rulings, FDA or legal developments, competitive pressures, changes in customer and market requirements and standards, and the risk factors detailed from time to time in Milestone's periodic filings with the Securities and Exchange Commission. The forward looking-statements in this press release are based upon management's reasonable belief as of the date hereof. Milestone undertakes no obligation to revise or update publicly any forward-looking statements for any reason. |
| Data | Imię i Nazwisko | Stanowisko | Podpis | ||
| 2014-08-18 13:26:08 | Joseph D'Agostino | CFO |
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