STSS - Why Sharps Technology Stock Is Up | Benzinga
Sharps Technology Inc. (NASDAQ:STSS) shares are trading higher Thursday after the company signed a $30 million purchase order from Nephron Pharmaceuticals.
The Details:
Sharps said the purchase order represents the first 12 months of syringe purchase commitments of an enhanced asset purchase agreement and accompanying five-year, $200 million syringe sales agreement with Nephron. These agreements are expected to close before the end of July, although there can be no assurance. The purchase order is conditioned on the closing of the asset purchase agreement.
"Once the enhanced deal with Nephron was negotiated and signed, everything began moving at an accelerated pace. Sharps is so pleased that Nephron has been willing to issue this Purchase Order now. It speaks to the collaborative relationship between our companies and the long partnership we want to have with Nephron,” ...