Myomo Stock Price, News & Analysis

Myomo, Inc. (NYSE American:MYO), a company specializing in wearable medical robotics for neurological disorders and upper-limb paralysis, announced participation in three investment conferences in September 2021. These include the Colliers Institutional Investor Conference on September 9, the H.C. Wainwright Global Investment Conference from September 13-15, and the Oppenheimer Fall Healthcare Summit from September 20-23. Myomo's MyoPro device is the only one that restores arm function using the patient's own EMG signals, enabling independence for users.

Myomo, a wearable medical robotics company, reported significant financial growth for Q2 2021. Revenue reached $3.1 million, a 262% increase year-over-year, with 80 units sold, up 233%. Gross margin improved to 71%, up from 51% a year ago. Operating loss narrowed to $2.6 million from $2.8 million year-over-year. The backlog rose by 36% to 160 units. Management is optimistic for continued growth in Q3, driven by direct-to-patient marketing and expanding insurance coverage for MyoPro devices.

Myomo, Inc. (NYSE American: MYO) will report its financial results for the three and six months ended June 30, 2021 on August 9, 2021, after market close. A conference call will follow at 4:30 p.m. ET with remarks from CEO Paul R. Gudonis and CFO David Henry. Participants are encouraged to pre-register for immediate access. Myomo specializes in wearable medical robotics aimed at improving upper limb function in patients with neurological disorders and paralysis, featuring the MyoPro product line that utilizes EMG sensors for functionality restoration.

Myomo, Inc. (NYSE American: MYO) announced its accreditation by the Healthcare Quality Association on Accreditation (HQAA), confirming compliance with the Social Security Act requirements. This accreditation follows the Company’s authorization as a Medicare Provider by the Centers for Medicare & Medicaid Services (CMS). CEO Paul R. Gudonis highlighted that while reimbursement for MyoPro orthosis is approved on a case-by-case basis, broader coverage could enhance service for beneficiaries suffering from upper-limb paralysis. However, he emphasized that coverage terms from CMS are still pending.

Myomo, Inc. (NYSE American: MYO) has announced its participation in A.G.P.'s Virtual MedTech Summer Conference on July 29, 2021. This virtual event will allow investors to engage in one-on-one meetings with Myomo's management team. Myomo specializes in wearable medical robotics, particularly the MyoPro product line, which aids individuals with neurological disorders and upper-limb paralysis. The MyoPro device is unique for its ability to restore arm function using non-invasive EMG sensors, enabling users to perform daily activities and live independently.

Myomo, Inc. (NYSE American: MYO) announced its addition to the Russell Microcap® Index, effective today. This is a significant milestone aimed at raising the company's profile within the global investment community. Paul R. Gudonis, Myomo's representative, expressed enthusiasm about this inclusion, which enhances exposure to investment managers and institutions.

The membership in the Russell Microcap® Index lasts for one year, providing automatic inclusion in relevant growth and value indexes, which collectively benchmark approximately $10.6 trillion in assets.

Myomo, Inc. (NYSE American: MYO) will present a corporate overview at the Sidoti Virtual Investor Conference on June 23, 2021, from 10:45 a.m. to 11:15 a.m. Eastern Time. The presentation will be led by CEO Paul R. Gudonis and CFO David Henry. Interested investors can access the live webcast at sidoti.cventevents.com and the archived presentation will be available for 90 days on myomo.com. Myomo specializes in wearable medical robotics, enhancing functionality for those with neurological disorders.

Myomo, Inc. (NYSE American: MYO) announced the election of Milton Morris, PhD, as Director during its shareholder meeting on June 9, 2021. Dr. Morris, the current President and CEO of Neuspera Medical, brings significant expertise from his previous roles at Cyberonics, Guidant, and Boston Scientific. He has over 30 patents and numerous publications to his name. Paul R. Gudonis, Chairman and CEO of Myomo, expressed confidence in Dr. Morris's contributions towards the company's technology commercialization.

Myomo, Inc. (NYSE American: MYO) announced an update regarding its HCPCS Level II code change application for codes L8701 and L8702, initially submitted in January 2021. Due to delays in CMS's Proposed Rule finalization and changes in leadership, Myomo has withdrawn its application. The company aims to engage with CMS to discuss finalizing Medicare benefit categories for these codes. CEO Paul R. Gudonis noted the recent increase in health insurance access for over 800,000 Americans and expressed optimism about future collaborations with CMS to enhance patient access to MyoPro braces.