Why Sharps Technology (STSS) Stock Is Skyrocketing
Portfolio Pulse from Henry Khederian
Sharps Technology Inc (NASDAQ:STSS) shares surged by 39.8% to $0.63 after signing a 5-year $200 million syringe sales agreement with Nephron Pharmaceuticals. The deal complements Sharps Technology's acquisition of InjectEZ specialty syringe manufacturing assets, making it North America's only dedicated COC prefillable syringe manufacturing plant. Product delivery is expected to start in late Q2 2025, with anticipated revenue of $37 million in the first year.
May 30, 2024 | 1:54 pm
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Sharps Technology Inc (NASDAQ:STSS) shares surged by 39.8% to $0.63 after signing a 5-year $200 million syringe sales agreement with Nephron Pharmaceuticals. The deal is expected to generate $37 million in revenue in the first year of product delivery starting in late Q2 2025.
The significant sales agreement and the acquisition of manufacturing assets are likely to boost investor confidence and drive the stock price higher in the short term. The expected revenue of $37 million in the first year further supports a positive outlook.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100