ROSELAND, N.J., Oct. 14, 2025 (GLOBE NEWSWIRE) -- Milestone Scientific Inc. (NYSE American: MLSS), a leading developer of computerized drug delivery instruments that provide painless and precise injections, today announced that it has received a letter (the "Letter") from NYSE American LLC (the "NYSE American") dated October 8, 2025, stating that the Company is not in compliance with the continued listing standards set forth in Sections 1003(a)(ii) and 1003(a)(iii) of the NYSE American Company Guide (the "Company Guide").
Section 1003(a)(ii) requires a listed company to have stockholders' equity of $4 million or more if it has reported losses from continuing operations and/or net losses in three of its four most recent fiscal years, and Section 1003(a)(iii) requires stockholders' equity of $6 million or more if it has reported losses from continuing operations and/or net losses in its five most recent fiscal years. Based on the Company's Form 10-Q for the period ended June 30, 2025, Milestone Scientific reported stockholders' equity of approximately $3.3 million and has experienced losses in each of its five most recent fiscal years ended December 31, 2024. As a result, the Company is not currently in compliance with Sections 1003(a)(ii) and (iii) and is not eligible for any exemption under Section 1003(a) of the Company Guide.
Pursuant to Section 1009 of the Company Guide, the Letter requires the Company to submit a plan of compliance (the "Plan") by November 7, 2025, detailing actions it has taken or will take to regain compliance with the continued listing standards by April 8, 2027. The Company intends to fully cooperate with the NYSE American and submit its Plan within the prescribed timeframe.
"We are confident that the financial progress we expect from our ongoing revenue growth initiatives and cost management measures will enable us to meet the NYSE American's continued listing standards within the prescribed timeframe," stated Eric Hines, Chief Executive Officer of Milestone Scientific. "Our team remains focused on execution, operational efficiency, and delivering long-term value to our shareholders."
The Company's common stock will continue to trade on the NYSE American under the symbol "MLSS" while it works to regain compliance, subject to periodic review by the Exchange. The receipt of the Letter does not affect the Company's business operations, reporting obligations with the Securities and Exchange Commission, or the continued listing of its securities at this time.
Milestone Scientific remains focused on advancing its commercial strategy, strengthening its financial position, and achieving compliance with all applicable NYSE American requirements within the allowed period.
About Milestone Scientific Inc.
Milestone Scientific Inc. (MLSS) is a technology-focused medical research and development company that patents, designs, and develops innovative injection technologies and instruments for medical and dental applications. Milestone Scientific's computer-controlled systems are designed to make injections precise, efficient, and increase the overall patient comfort and safety. The Company leverages its proprietary DPS Dynamic Pressure Sensing Technology® platform to advance the development of next-generation devices, regulating flow rate and monitoring pressure from the tip of the needle, through platform extensions of subcutaneous drug delivery, including local anesthetics. To learn more, view the MLSS brand video or visit 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, 2024. 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:
Crescendo Communications, LLC
Email: mlss@crescendo-ir.com
Tel: 212-671-1020
