Sharps Technology Inc (STSS) Quote

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Sharps Technology Receives $30 Million Purchase Order for Prefillable Copolymer Syringes to be Manufactured at SC Facility
Signed PO secures first 12 months of syringe product orders against Sharps and Nephron’s five-year, $200 million Syringe Sales Agreement.

Current Asset Purchase Agreement closing timeline is on track for expected prefillable syringe product shipments to begin by Q2 of 2025.

NEW YORK, June 13, 2024 (GLOBE NEWSWIRE) -- Sharps Technology, Inc., (NASDAQ: “STSS” and “STSSW”), an innovative medical device and pharmaceutical packaging company offering patented, best-in-class syringe products, received a signed $30 million purchase order from Nephron Pharmaceuticals, representing their first 12 months of syringe purchase commitments. The purchase order includes deliveries for both the 10mL and 50mL specialty copolymer prefillable syringes that will be manufactured at the West Columbia site being acquired from Nephron. This assurance of supply is expected to support the planned expansion of the 503b operations at the Nephron site. The new copolymer syringe technology reflects the pharmaceutical and healthcare industry’s trend toward transitioning injectable drug therapies into innovative polymer prefillable syringes and away from the older glass and standard plastic syringes.

Braden Miller, Sharps Director of Product Development, commented, “Sharps has developed an exciting alternative to glass syringes through the use of molded inert polymers, offering a high-quality solution compared to traditional glass syringe systems.” Sharps prefillable polymer syringes have many of the same characteristics as traditional glass designs to support long term drug stability and increase shelf life for pharma and healthcare customers. However, polymer syringes can also be made into custom configurations with unique container closure systems; they can nearly eliminate breakage, minimize dead space, reduce contamination, excel in cold-chain storage, and support the development of novel devices including autoinjectors. The ability to produce these innovative syringe products using advanced manufacturing techniques creates additional advantages in the areas of quality, performance, and safety when compared to similar glass syringe products.

Sharps Technology recently signed, and is working to close on, an enhanced Asset Purchase Agreement and accompanying five-year, $200 million Syringe Sales Agreement with Nephron. These agreements are expected to close before the end of July, although there can be no assurance. The purchase order is conditioned on the closing of the Asset Purchase Agreement. Once finalized and closed, Sharps will become the first fully dedicated, specialized polymer prefillable syringe manufacturing plant in North America. The state-of-the-art syringe facility will be on track to begin product deliveries in the second quarter of 2025, with projected revenue expected to exceed $35 million for the first 12 months of sales.

“Once the enhanced deal with Nephron was negotiated and signed, everything began moving at an accelerated pace. Sharps is so pleased that Nephron has been willing to issue this Purchase Order now. It speaks to the collaborative relationship between our companies and the long partnership we want to have with Nephron,” commented Robert Hayes, Sharps Technology CEO. “We really look forward to this exciting chapter for Sharps Technology. The PO from Nephron is tangible evidence that our hard work is showing results.”

With the $1 million escrow deposit in place, Sharps has been given access to the facility to begin key start-up activities and meetings with large US-based healthcare customers to support new sales opportunities for 2025. The Sharps team will continue to work behind the scenes, with contracted industry resources, to expedite its manufacturing implementation plan and get its product qualified for shipment to commercial customers as quickly as possible. As soon as the asset acquisition is closed, which is expected before the end of July, Sharps will immediately move forward with the first phase of its manufacturing implementation plan. This includes the final facility buildout and planned upgrades to support the manufacture of pharmaceutical-grade COC prefillable syringes on three state-of-the-art production lines. Product from the first production line will be qualified to ship in the second quarter of 2025, and all three lines are expected to ship product by the fourth quarter of 2025. A second and third phase will also be implemented and are expected to be completed by October 2027. Sharps’ revenue is expected to exceed $35 million during the first 12 months of sales. The South Carolina facility has sufficient additional capacity to generate revenue of more than $50 million in 2026 and has the capacity to grow to over $100 million in revenue by 2028 within the current facility.

About Sharps Technology:
Sharps Technology is an innovative medical device and pharmaceutical packaging company offering patented, best-in-class smart-safety syringe products to the healthcare industry. The Company’s product lines focus on providing ultra-low waste capabilities, that incorporate syringe technologies that use both passive and active safety features. Sharps also offers products that are designed with specialized copolymer technology to support the prefillable syringe market segment. The Company has a manufacturing facility in Hungary and is partnering with Nephron Pharmaceuticals to expand its manufacturing capacity in the U.S. For additional information, please visit www.sharpstechnology.com.

Forward-Looking Statements:
This press release contains “forward-looking statements”. Forward-looking statements reflect our current view about future events. When used in this press release, the words “anticipate,” “believe,” “estimate,” “expect,” “future,” “intend,” “plan,” “poised” or the negative of these terms and similar expressions, as they relate to us or our management, identify forward-looking statements. Such statements, include, but are not limited to, statements contained in this press release relating to our business strategy, our

STSS: WOW!!

$STSS +200% #DDAmanda Video Analysis



Z

Not to mention Asia.Africa,Latin America and the Middle East.This is the best kept secret on the markets,but not for long.Watch when this baby runs.Multiple dollars are coming.Good luck and good trading.

No brainer,200 million dollar deal and a market cap of 8 million.You are looking at an easy 20 bagger from here.That is only one contract,they have several in Europe and Australia.Wouldn't be surprised if one of the big boys gobbles her up.Good luck and good trading.

STSS: See ya all on Planet Jupiter, a little later today, Peeps!!!

Fluffy

scam can run

Why the run up yesterday??

STSS: 600% UP, UP, UP, run has been was officially launched!!

Hell yes dude!!! FOXO merger next!!

Kind of a strange move based on news

On May 27, 2024 Refinitiv/Verus downgraded Sharps Technology (STSS.NaE) from HOLD to SELL.

It's time for me to go back to being quiet, since everyone else is doing the same. 267% and crickets

Happy Trading

next pump

STSS 10Q due March 15

STSS......................https://stockcharts.com/h-sc/ui?s=STSS&p=W&b=5&g=0&id=p86431144783

Form 4. CEO just bought another 10k on the market.

I have orders in just in case we get another dip.

im thinking maybe time to buy back in

New All time low.

Good luck!!

seeyou down the road.. real company just dont have the margins to be wrong. i need to be more confident of the share structure good luck

I will continue to hold.

ill keep an eye on it because they will make it but the share structure is too confused at the moment .. so i take the loss but ill keep it on watch..gl whatever you decide

We know an R/S will be happening here. Just when and how big is the question. But to shove an incentive plan in investors faces while discussing the R/S is just plain stupidity.

read enough.. im out and pissed off because i thought i knew what i was looking at.. gooooo cdio

wow you got good eyes. i tried to read that damn thing.. what a effing word salad

Great. Board member incentive plan that adds 130% more shares. WTG Bob. Sub.10 is what he is after. It will happen at this rate pretty quickly.

I picked up 3800 last week that never showed up either.

my add doesnt show on the bean counter .. 4k shares now

Another Form 4.

Inching back northward. Expecting an update on progress on the expansion of the manufacturing plant any day.

All-time low! I'm grabbing up more. Should see numbers improve soon.

STSS new 52 week low

Could see a run up to end the week.

Thank you

Yeah I am also here for the long run just painful to watch it now but like you said it’s time to try and load more

I did as well, and it should have. Please have a look at this link, cross reference to get the PPS of STSS competition and do some research. You see what I have seen and understand why I am not selling any of this in the near term. Understand that STSS has the latest technology in safety needles. https://www.seaskymedical.com/list-of-top-10-syringe-manufacturers/

Make sense

Some people thought we will move back up once the offering closed

Thanks for your input

As I have said in the past, I am not worried about day-to-day PPS fluctuations. This is not a one or two day process. This is a true investment. My target is 2-5 years. They are just finishing phase 1 of 5. If it drops down more, I'll move things around and average down. You have to do you. If this isn't fitting your plan, you need to stick to your guns and your plan.

Still bleeding.

https://www.seaskymedical.com/list-of-top-10-syringe-manufacturers/

This is the link to the other syringe suppliers. Look up their PPS.

I had a post on here a while back listing companies doing the exact same thing as Sharp's, without the safety technology Sharps possesses. Look at the list and check their price per share and multiply at .6 or 60%. It will give you an idea of a target. I have been invested in this since day one. I am now averaged sub .60, and damn happy with it. I have zero plans on selling currently. I've said since day 1, this is a 5 year hold.

Thank you

Been holding for a while. Was able to grab a few more in the 60’s but ran out of funds to buy more in the 50’s

Here for the long run but it’s painful to watch the price keep going down

Hope you are right

Have a nice weekend

It is closed (PR). This planned dilution of the stock is no longer happening from the company, and downward sales pressure has stopped. Now the market can focus on the positive news that caused this cash grab to happen, the acquisition and Nephron contract. $400,000,000 deal is nothing to sneeze at. Couple that with the expansion of the S.C. facility which is taking place NOW. This company is doing things the right way. The future is very bright.

Is it closed? They released some more news today.

What does it mean that it’s closed ?

Thanks for your input.

Hahaha. Me too. We need this offering to be officially closed. Then the PPS will start to rise again.

i have more confidence where this will be in 5 years than i do myself gl and thanks

This letter is just the tip of the iceberg. The markets do not know or care about Robert Hayes. I do not know him personally either. What I do know is that he knows what he is doing in this field and was the right choice to lead this company. So far, he has been very transparent and honest. He has this company fast tracking to be a big player in this segment of the healthcare market. Go back a few months ago on this board, I listed a few other companies that are in the same business and look at their PPS. It will give you a better idea of where this should be in 5 years.