Skyline Medical Inc (NASDAQ: SKLN) is having an overwhelmingly strong trading session in the market this morning, and for good reason. The company announced updated projections with regard to the sale of its STREAMWAY System for the year 2018. The projections proved to be overwhelmingly positive, leading to excitement among investors and some serious gains in the value of the stock. Today, we’ll talk about the news, what we’re seeing from the stock, and what we’ll be watching for with regard to SKLN ahead.
SKLN Gains Big On STREAMWAY System Guidance
As mentioned above, Skyline Medical is having an incredibly strong trading session in the market today after releasing updated guidance with regard to STREAMWAY System sales. In the release, SKLN said that it expects to sell approximately 100 STREAMWAY Systems this year. According to the release, the projection was based on ongoing negotiations with hospital chains and medical clinics in the United States as well as general sales patterns.
In the release, SKLN made it clear that this guidance was specific to the United States and did not include sales in European and Asian regions. However, if these projections do prove to come to fruition, it will represent 10X growth on a year over year basis. In a statement, Dr. Carl Schwartz, CEO at Skyline Medical, had the following to offer:
Over the past several months, we have increased our sales efforts significantly, which has opened doors to new customers as well as strengthened our relationships with existing customers… Our customer base includes several large hospital systems that have utilized the STREAMWAY System in their ‘Centers of Excellence’ and are using it as a model for medical waste management best practices. These customers have stated their intention to expand usage of the STREAMWAY throughout their hospital networks, across a wide range of different procedure rooms, providing us with a clear opportunity to generate significant sales growth from our existing client base. Furthermore, we are also encouraged by the new customer activity we have seen so far in 2018 and project this momentum to continue throughout the year as we progress with negotiations and grow our sales pipeline.”
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