What's Going On With Nano-Cap Medical Device-Focused Sharps Technology On Friday?

Shares of Sharps Technology Inc STSS are trading higher on Friday, with a heavy session volume of 15.17 million.

On Wednesday, the medical device and pharmaceutical packaging company received two purchase orders for approximately 1 million SecureGard ultra-low waste smart safety syringes produced at Sharps’ manufacturing facility in Hungary.

The first 100k syringe shipment is scheduled for the third week of July, and subsequent deliveries will be made throughout the rest of 2024.

The undisclosed customer is a Swiss-based provider of cosmetic, dental, and ophthalmic injectable therapies.

The initial 1mL SecureGard syringe orders are a first step in a collaboration that can leverage Sharps’ technology, portfolio of drug delivery solutions, and development expertise to support the customer’s growing product offerings.

The need for innovative injection solutions continues to grow rapidly as injectables are the first choice for therapies as diverse as vaccines, biologics, weight loss and maintenance, ophthalmic and cosmetic applications, gene therapies, and diabetes and inflammatory disease management.

As a result of this market growth and the impact of the tariffs, recalls, and quality issues with Chinese-supplied syringes, Sharps is seeing increasing interest and potential demand for its high-quality smart safety syringe products.

Also Read: FDA Probe On China-Made Syringes: Becton Dickinson Boosts US Syringe Output Following Concerns.

Sharps Technology specializes in the development and manufacturing of drug delivery systems.

The company’s SecureGard and SoloGard product lines focus on low-waste and ultra-low-waste syringe technologies that incorporate active safety features and World Health Organization-accredited re-use prevention measures.

These features protect front-line healthcare workers from life-threatening needle stick injuries and protect the public from the dangers of needle re-use.

Sharps has a manufacturing facility in Hungary and is working to close on its recent asset acquisition in South Carolina to expand its manufacturing capacity in the U.S.

Price Action: STSS shares are up 8.76% at $0.2520 at last check Friday.

Photo via Shutterstock

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