LIVINGSTON, N.J., Nov. 23, 2018 (GLOBE NEWSWIRE) — Milestone Scientific Inc. (NYSE: MLSS), a leading developer of computerized drug delivery instruments that provide painless and precise injections, today announced that Dr. Glassman, Chief Dental Officer for Dental Corp., and Dr. Eugene Casagrande, Director of International & Professional Relations, presented The Wand computer assisted anesthesia system and provided a hands-on demonstration at the Endodontics Solutions Program, a four day endodontics seminar in Toronto, Canada from November 1-4 2018. In addition, the Company announced that Dr. Casagrande presented The Wand STA at a forum hosted by the University of Florida College of Dentistry on October 31, 2018. Attendees at both events were provided the opportunity to work with The Wand and simulate various injection techniques.
Dr. Casagrande commented, “We received positive feedback to the recent presentations and hands-on demonstrations featuring The Wand, which reinforces our confidence in the market potential for The Wand. These seminars and presentations are part of our continued outreach efforts, focused on both current and next generation dentists. When trained in the use of The Wand, younger dentists and dental students have the potential to become lifetime users and advocates of the technology.”
The Company also announced that on November 20, 2018, it received a letter from NYSE American LLC (“NYSE American” or the “Exchange”) stating that it is not in compliance with the continued listing standards as set forth in Section(s) 1003(a)(i), (ii), and (iii) of the NYSE American Company Guide (the “Company Guide”). In order to maintain its listing, the Company must submit a plan of compliance by December 20, 2018 addressing how it intends to regain compliance with Section(s) 1003(a)(i), (ii) and (iii) of the Company Guide by May 20, 2020. If the plan is accepted, the Company may be able to continue its listing but will be subject to periodic reviews by the Exchange. If the plan is not accepted or if it is accepted but the Company is not in compliance with the continued listing standards by May 20, 2020, or if the Company does not make progress consistent with the plan, the Exchange will initiate delisting procedures as appropriate. The Company’s management is pursuing options to address the deficiency and intends to submit a compliance plan on or before the deadline set by the Exchange.
About Milestone Scientific Inc.
Milestone Scientific Inc. (MLSS) is a biomedical technology research and development company that patents, designs, develops and commercializes innovative diagnostic and therapeutic injection technologies and instruments for medical, dental, cosmetic and veterinary applications. Milestone’s computer-controlled systems are designed to make injections precise, efficient, and virtually painless. Milestone’s proprietary DPS Dynamic Pressure Sensing technology® is our technology platform that advances the development of next-generation devices, regulating flow rate and monitoring pressure from the tip of the needle, through platform extensions for local anesthesia for subcutaneous drug delivery, with specific applications for cosmetic botulinum toxin injections, epidural space identification in regional anesthesia procedures and intra-articular joint injections. For more information please visit our website: www.milestonescientific.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, timing of regulatory approvals 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, future business decisions and regulatory developments, 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, including without limitation, Milestone’s Annual Report for the year ended December 31, 2017. 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.
Contact:
David Waldman or Natalya Rudman
Crescendo Communications, LLC
Email: mlss@crescendo-ir.com
Tel: 212-671-1020