Why Sharps Technology Shares Are Skyrocketing Today – Sharps Technology (NASDAQ:STSS)

Sharps Technology Inc. STSS shares are skyrocketing on Tuesday. 

According to Benzinga Pro, STSS stock has lost over 42% in the past year.

In an exchange filing, the company said it has entered into a series of agreements with Nephron SC and Nephron Sterile Compounding Centers. 

“These agreements reflect changes to the agreements originally entered into on September 22, 2023, which transaction did not close under its original terms,” the company said in an exchange filing.

The company signed a five-year Purchase Agreement with Nephron SC and Nephron Sterile, under which Nephron commits to exclusively use the company as its pre-filled copolymer syringe manufacturer. 

Additionally, the companies agreed to purchase a minimum aggregate of around $188.5 million worth of syringes from Sharps Technology.

In March, the company inked a pact with Italy’s Roncadelle Operations to cooperatively sell and distribute each other’s products to their respective areas of influence.

Price Action: STSS shares are trading higher by 157% to $0.55 at last check Tuesday. 

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