Sharps Technology Soars 36% on $50M Supply Agreement

Sharps Technology's stock surged by 36% in pre-market trading on April 30, 2025, marking a significant milestone for the company.

Sharps Technology has secured a $400,000 initial purchase order from a leading U.S. provider of IV flushing solutions. This order is part of a larger $50 million supply agreement announced in July 2024, under which Sharps will deliver approximately 500 million customized 10mL SoloGard syringes over a five-year period. This landmark agreement is expected to generate approximately $50 million in revenue during its term.

The company has strategically invested in advanced production technology for SoloGard manufacturing, including precision molding and advanced automation. These investments are aimed at streamlining production processes and delivering superior quality for their syringe systems. Sharps Technology's Hungarian manufacturing facility is fully prepared to meet the growing demand anticipated under the agreement.

Sharps Technology's CEO, Robert Hayes, highlighted the transformative nature of this order, stating that it marks the beginning of revenue generation and the execution phase of their strategic partnership. The company is committed to delivering long-term value to its shareholders through this supply agreement.