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Milestone Scientific Inc (NYSEAMERICAN: MLSS) is a medical device research and development (R&D) group.

It designs and patents innovative injection technology and specializes in dynamic pressure sensing, which allows medics to know what the pressure at the tip of needle is at any time.

The company is advancing computer-controlled drug delivery systems that offer significant efficiency and patient comfort gains in the medical and dentistry fields.

Its wand product for dentistry, which is the group's biggest revenue earner, makes an injection at the dentist a lot more comfortable. The numbness is contained on a single tooth rather than a whole portion of the mouth.

In the medical solutions space, the firm has a CompuFlo Epidural Instrument for epidural injections, which has a 99% success in locating the epidural space on the first attempt. Done manually, the procedure can be cumbersome and time-consuming. The company believes the epidural system will become the new standard of care.

The addition to the system (for catheter patients) is its CathCheck technology which is also gaining traction.

Milestone also has a Compuflo training product to help medical students master epidurals. Milestone's CompuFlo Intra-Articular Instrument has been proven successful in administering medicaments into the intra-articular space.

The group is also looking at future products in the cosmetic surgery, opthalmic and neurosurgical sectors.

In a statement at the end of November, the group's president Arjan Haverhals said the firm's dental business continued to recover and he saw growth in dental sales during the fourth quarter of 2020.

"While we are not back to pre-pandemic levels, I am pleased to report our sales continue trending in the right direction and we anticipate revenue in the fourth quarter of 2020 to be a minimum of $1.7 million," he said.

Haverhals said such a haul in revenue would represent a 40% sequential increase versus the 3Q, which follows a 718% increase for the 3Q compared to the 2Q of 2020. And this does not include recent sales to the companys Chinese distributor of about $450,000, which will be recorded as revenue when the inventory is resold by the distributor.

We are encouraged by the current trends in both the USA and around the world, which has improved our cash flow and provides us greater financial stability along with the necessary funds for marketing and sales to continue the growth in the dental sector, he told investors.

Earlier last month, the group posted third quarter financials (to September 30), which showed revenue of $1.2 million compared to the $1.9 million it posted in the same quarter in 2019. The net loss was narrowed to $1.5 million, or $0.02 per share, versus the $2.8 million, or $0.06 a share, it posted in the comparable year-ago quarter.

In October, Milestone was awarded a group purchasing agreement with Premier, a leading group purchasing organization, with around 4,100 US hospitals and 200,000 other providers within its network.

Milestoneis also expanding its trials in major hospitals and medical schools and partnering with key opinion leaders to approach the purchasing departments of hospitals together

The company ended the three-month period with over $14 million of cash on hand, which will support marketing and other ongoing activities, it added.

President Arjan Haverhals spoke to Proactive in November this year and said the company was in good financial shape with no plans to raise capital in the short, or mid-term.

"With the cash at hand, the recovery of the dental business, we have a burn rate of about US$320,000 per quarter, and hen also with the anticipated sales of the CompuFlow, the epidural system, and the CathCheck, we really look forward to become cash positive next year."

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Milestone Scientific, the pressure sensing specialist, has cash in bank and eyeing growing dental sales - Proactive Investors USA & Canada

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