Sharps Technology Inc., a medical device company, researches, designs, develops, manufactures, distributes, and sells safety syringe products in the United States. It offers Sharps Provensa, an ultra-low waste space syringe for the administration of various vaccines and injectable medications. The company was incorporated in 2017 and is based in Melville, New York.
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1. The Tesla for medical syringes, focused on innovating and improving upon traditional designs to reduce waste.
2. The Intuitive Surgical (ISRG) for syringes, creating a singular, high-tech device to improve drug delivery and reduce waste.
3. Applying smart technology to a common medical tool like syringes, much like Dexcom innovated continuous glucose monitors.
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Sharps Provensa™ Low-Dead-Space Syringe System: This pre-fillable syringe system is engineered to minimize drug waste and ensure precise medication delivery.
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Sharps SafeShot™ Safety Syringe System: This pre-fillable syringe system incorporates safety features to protect healthcare workers and patients from needlestick injuries.
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Sharps Technology (STSS) Major Customers
Sharps Technology (STSS) primarily sells its products, such as the Provensa™ smart-safety syringe, to other companies (B2B) in the healthcare and pharmaceutical sectors.
Based on their public filings, the most prominently disclosed customer and strategic partner is:
* **Nephron Pharmaceuticals Corporation** (Private Company) - Sharps Technology entered into a strategic distribution agreement with Nephron Pharmaceuticals Corporation in February 2022 for the commercialization and distribution of its Provensa™ safety syringe. Nephron has committed to purchase these syringes upon manufacturing scale-up and is authorized to distribute and sell them to its customers.
Sharps Technology targets a broad range of other companies as potential customers, including:
* Pharmaceutical companies
* Vaccine manufacturers
* Hospitals
* Clinics
* Government agencies
* Distributors
However, beyond Nephron Pharmaceuticals Corporation, specific names of other major customer companies have not been individually disclosed in their public filings as significant revenue contributors at this stage of their commercialization.
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Precision Medical Group
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Robert M. Hayes, Chief Executive Officer and Director
Robert M. Hayes has a career spanning over 25 years in the healthcare, medical device, and pharmaceutical manufacturing industries. Prior to his role at Sharps Technology, he served as Senior Director of Product Management and Innovation with Gerresheimer Pharmaceutical Glass. From 2010 to 2021, Hayes was responsible for commercial sales and strategic partnerships with major global healthcare companies. He also held leadership roles at Amcor Rigid Plastics. Hayes joined Sharps Technology because he believed their smart safety syringe designs were advanced and transformative for the pharmaceutical industry.
Andrew R. Crescenzo, Chief Financial Officer
Andrew R. Crescenzo is the Chief Financial Officer and a Director at Sharps Technology. He has demonstrated his confidence in the company's prospects through recent acquisitions of stock options, including 100,000 shares in April 2024 and 40,000 options in August 2025.
Paul K. Danner, Principal Executive Officer & Board Member
Paul K. Danner serves as a Principal Executive Officer and Board Member for Sharps Technology. In August 2025, he made a significant purchase of 400,000 options as part of the company's 2025 Equity Incentive Plan.
Alice Zhang, Chief Investment Officer & Board Member
Alice Zhang is the Chief Investment Officer and a Board Member at Sharps Technology.
Braden Miller, Director of Product & Manufacturing
Braden Miller holds the position of Director of Product & Manufacturing at Sharps Technology.
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The key risks to Sharps Technology (STSS) are primarily centered around its severe financial distress, the highly speculative and unproven pivot to a digital asset strategy, and the lack of consistent revenue from its historical or new business operations.
- Severe Financial Distress and Delisting Threat: Sharps Technology faces significant financial instability, including a "Weak" financial health rating and challenges in meeting NASDAQ listing requirements, such as the minimum bid price and stockholders' equity. The company has received delisting notices, and its stock is considered "high risk" with low liquidity and extreme volatility. It has reported negative earnings per share and negative operating margins, highlighting deep fundamental weakness.
- High-Risk, Unproven Digital Asset Treasury Strategy: The company has undergone a dramatic strategic pivot from medical devices to a "digital asset treasury strategy," largely centered on Solana (SOL). This move is described as a "bold, unproven strategy" that exposes the company to "extreme market volatility" and regulatory uncertainties inherent in the digital asset space. The success of this new business model is highly speculative and depends on the performance of the crypto market and the company's unproven expertise in managing digital assets.
- Lack of Consistent Revenue and Operational Inexperience: Despite its original focus on medical devices, Sharps Technology has struggled to generate significant and consistent revenue, with a trailing twelve-month revenue reported at a modest $0.2 million. Its operational pivot to the digital asset market is "untested," and the company lacks a track record or proven operational expertise in this entirely new and volatile business area.
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The development and increasing adoption of alternative drug delivery systems, particularly microneedle patch technology, pose a clear emerging threat. This technology could displace the need for traditional syringes in various applications, including vaccination and subcutaneous drug delivery, by offering a fundamentally different and potentially less invasive method of administering medications.
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Sharps Technology (STSS) operates in the medical device and pharmaceutical packaging industry, with its primary products being smart safety disposable syringes and advanced polymer prefillable syringe systems.
The addressable market for these main products is estimated as follows:
- Smart safety disposable syringes: Over $7 billion USD.
- Prefillable syringes with specialized copolymers and glass products: Well over $6 billion USD.
The region for these market sizes is not explicitly stated in the provided information, but the scale of the figures suggests these are global market estimates.
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Sharps Technology (STSS) is anticipated to experience revenue growth over the next two to three years driven by several key factors:
- Fulfillment of Stericare Solutions Supply Agreement: Sharps Technology commenced generating commercial revenues in Q2 2025, largely due to a new supply agreement with Stericare Solutions for its Sologard syringes. This five-year agreement is valued at $50 million and involves supplying approximately 500 million customized 10 mL SoloGard syringes. The company is actively focusing on scaling its production capacity in Hungary to meet these orders.
- Expansion into Prefillable Syringe Market and Nephron Pharmaceuticals Agreement: The planned acquisition of Injectez is expected to solidify Sharps Technology's entry into the copolymer prefillable syringe market. This move includes a significant $400 million supply agreement with Nephron Pharmaceuticals, which is projected to contribute approximately $30 million in revenue during its first year, increasing to $45 million annually from 2025 onwards. The broader prefillable syringe market is also forecasted for substantial growth.
- Growth of Securegard and Next-Generation Syringes: Sharps Technology aims to boost revenue through its Securegard and other next-generation syringe projects, complementing its Sologard initiatives. The company is expanding its manufacturing capabilities for these advanced syringes and has successfully commercialized Securegard and a specialized syringe for auto-injectors. Products in the pre-filled syringe market, particularly those utilizing copolymer technology, command significantly higher price points and offer better margins than conventional syringes.
- Leveraging Demand for GLP-1 Drugs: The increasing popularity of GLP-1 (glucagon-like peptide-1) drugs presents a notable revenue growth opportunity for Sharps Technology. Pen systems, auto-injectors, and pre-filled syringes are the preferred delivery methods for these medications, aligning with the company's product offerings and future development plans.
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Share Repurchases
- Sharps Technology announced a stock repurchase program on October 2, 2025, authorizing the acquisition of up to $100 million of its outstanding common stock.
- This program allows the company to repurchase shares through open market purchases and privately negotiated transactions.
- The company indicated that the repurchase program is intended to enhance shareholder value and reflects confidence in its long-term growth prospects.
Share Issuance
- In August 2025, Sharps Technology closed a private placement offering that raised over $400 million through the sale of common stock and stapled warrants.
- The company could potentially raise up to $1 billion in total proceeds if all warrants from the August 2025 private placement are exercised.
- In January 2025, Sharps Technology completed a public offering that generated approximately $20 million in gross proceeds through the issuance of common units, including shares of common stock and two series of registered common warrants.
Inbound Investments
- A private placement offering exceeding $400 million, which closed in August 2025, attracted investments from various notable financial institutions and digital asset leaders, including ParaFi, Pantera, Monarq, and FalconX.
- In September 2024, Sharps Technology closed a $3.5 million bridge financing through a private placement of secured notes and common stock.
Outbound Investments
- Sharps Technology has acquired over 2 million SOL (Solana) tokens, valued at over $400 million, as part of its digital asset treasury strategy, funded by a recent equity raise.
- The company's digital asset treasury strategy aims to establish the largest Solana digital asset treasury in public markets.
- Sharps Technology completed a corporate asset purchase of Nephron Pharmaceuticals' InjectEZ Specialty Copolymer Syringe Manufacturing Facility on September 26, 2023.
Capital Expenditures
- Sharps Technology reported capital expenditures of -$2.08 million in the last 12 months, resulting in a free cash flow of -$9.84 million.
- The company plans a $9 million capital investment to install additional equipment for high-speed production of small volume COC syringes, with completion targeted by July 2027.
- An additional $4.75 million investment is planned for a flexible manufacturing line to produce 5mL syringes and increase 10mL production capacity, expected to be completed by October 2027.
