Skyline Medical, Inc. (NASDAQ: SKLN, SKLNU) is a medical
device company engaged in the production and commercialization of an
innovative, environmentally-friendly tool targeted at improving the safety of
one of the most dangerous jobs in the medical field. The company’s proprietary
STREAMWAY® system is a cost-effective, canister-free platform that eliminates
the frequent and potentially hazardous interruptions commonly associated with
surgical waste handling. Utilizing a direct-to-drain installation, Skyline’s
technology greatly reduces the risk of hospital staff being exposed to
biohazard fluids while simultaneously promoting improved patient-focused care
and significant time savings.
The immense benefits of the STREAMWAY system have helped the
company make considerable strides toward achieving sustainable market growth in
recent years. Originally released in 2009, Skyline has sold 89 units to date,
and the company expects this figure to rapidly expand as it looks to bolster
sales and production efforts. As new hospitals continue to approve the use of
the groundbreaking STREAMWAY system for additional applications, Skyline
expects to significantly improve its financial results.
In the first quarter of 2015, Skyline successfully leveraged
the marketability of its innovative system to promote strong financial growth.
In addition to selling and shipping five STREAMWAY units, the company realized
a 115 percent year-over-year increase in total revenues, recording $151,274 for
the period. Likewise, Skyline’s net loss and total expenses were reduced by
more than $1.3 million during the quarter, as compared to the previous year.
“Our sales increased year-over-year as we continue to make
sales to large and diverse medical centers across a broader geographical area,”
Josh Kornberg, chief executive officer of Skyline, stated in a news release.
“We are optimistic about our business opportunities as we execute on our sales
strategy.”
In recent weeks, Skyline has turned its attention toward
increasing its market visibility and securing the capital necessary to continue
progressing with its strategic business plan. The company recently announced a
public offering that’s expected to raise approximately $15 million to fund its
ongoing sales efforts while allowing Skyline to increase its product inventory
in the future. These actions will be a key part of Skyline’s progress toward
market growth, particularly as the company targets achieving profitability as
early as next year.
For prospective shareholders, the increasingly widespread
adoption of Skyline’s proprietary STREAMWAY technology could provide a platform
for ongoing growth. Look for the company to benefit from an improved cash
position following the completion of its upcoming public offering as it
continues to build upon it recent progress in the future.
For more information, visit www.skylinemedical.com
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