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MILESTONE MEDICAL - Third Quarter 2014 Business Update (30/2014) - EBI

MILESTONE MEDICAL - Milestone Medical Inc. Provides Third Quarter 2014 Business Update (30/2014)
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| | | | | Raport EBI nr | 30 | / | 2014 | | | | |
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| | Data sporządzenia: | 2014-11-18 | | | | | | | | | |
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| | Milestone Medical Inc. Provides Third Quarter 2014 Business Update | | | | | | | | | | |
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| | European Contacts: Dom Maklerski WDM S.A. Email: us@wdmcapital.com Tel: (+48 71) 79 11 555 David Waldman or Justyna Gudaszewska Crescendo Communications Europe Sp. z.o.o Email: mmd@crescendo-ir.com Milestone Medical Inc. Provides Third Quarter 2014 Business Update Reports Continued Progress on U.S. FDA Approval and Formation of Strategic Partnerships in Europe LIVINGSTON, NJ, November 18, 2014 -- Milestone Medical Inc. (WAR: MMD), today provided a business update for the third quarter ended September 30, 2014. Leonard Osser, Chief Executive Officer of Milestone Medical stated, ?Receipt of CE Mark approval for our intra-articular and epidural instruments represents a significant step forward towards commercialization of our first medical instruments in Europe. We are also making progress advancing our epidural and intra-articular instruments through the FDA regulatory process. Although there are a variety of factors outside our control, we currently expect FDA approval on the intra-articular instrument in
the first quarter of 2015 and FDA approval on the epidural instrument in the third quarter of 2015.? Mr. Osser concluded, ?As Milestone Medical is still in the development stage, we have carefully managed our expenses and had over $1 million of cash with no debt and $2.7 million of shareholders? equity at the end of the third quarter, which we believe will be sufficient capital to carry us through FDA regulatory approval. We are also in the process of regulatory approval of our Prospectus to raise up to $7 million for the continued expansion of our sales, marketing initiatives, and additional working capital to accelerate the launch of our epidural and intra-articular instruments 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. At the same time, Milestone Medical is applying for a variety of grants in Europe, which would help us
to expand both our production as well as our R&D capabilities in Europe.? Conference Call Milestone Medical?s executive management team will host a conference call at 3:00 p.m. Central European Time (9:00 a.m. Eastern Time), on Tuesday, November 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. | | | | | | | | | | |
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