Welcome to our dedicated page for Myomo news (Ticker: MYO), a resource for investors and traders seeking the latest updates and insights on Myomo stock.
Myomo, Inc. (NYSE American: MYO) is a wearable medical robotics company whose news flow centers on its MyoPro myoelectric orthosis product line, financial performance and commercialization efforts. The company develops and markets powered upper-limb orthoses designed to support the arm and restore function to weakened or paralyzed arms in patients with neurological disorders and neuromuscular injuries.
News about Myomo frequently includes quarterly financial and operating results, where the company reports revenue, gross margin, operating expenses, net loss and non-GAAP metrics such as Adjusted EBITDA. These updates also describe operating metrics such as MyoPro revenue units, orders and insurance authorizations, patient pipeline size, backlog and the proportion of revenue associated with Medicare Part B patients.
Investors following MYO can also expect announcements about product developments, such as the launch of the MyoPro 2x, which Myomo characterizes as a major step forward in donning, fit and function for users. Additional news items cover marketing and commercialization initiatives, including engagement with orthotics and prosthetics providers, training of Certified Prosthetists Orthotists, and programs like MyoConnect that are intended to generate recurring patient referrals from therapists and physicians.
Myomo’s news releases may also highlight capital markets and corporate events, including participation in investor conferences, Investor & Analyst Day presentations, and financing arrangements such as loan facilities documented in Form 8-K filings. For readers tracking MYO, this news page aggregates company-issued press releases and related updates, providing a single location to review Myomo’s reported progress on its business model, product line and financial performance over time.
Myomo (NYSE American: MYO) reported record financial results for Q3 2021, achieving $4.4 million in revenue, a 128% increase year-over-year, and 159% year-to-date. Gross margin improved to 75%, up 1,900 basis points. The backlog rose to a record 177 units. However, the company faces challenges including temporary labor shortages impacting deliveries. The net loss for Q3 was $2.1 million, or $0.36 per share. Despite strong revenue growth, forecasting for Q4 is difficult due to these constraints.
Myomo, Inc. (NYSE American: MYO) will announce its financial results for the three and nine months ended September 30, 2021 on November 10, 2021, after the market closes. The company will hold a conference call on the same day at 4:30 p.m. ET, featuring remarks from CEO Paul R. Gudonis and CFO David Henry. Participants can pre-register for the call or join through provided dial-in information. Myomo specializes in wearable medical robotics aimed at aiding patients with upper-limb paralysis.
Myomo, Inc. (NYSE American: MYO) has announced agreements with warrant holders to exercise 1,015,798 shares at $5.00 each, generating approximately $5.1 million in gross proceeds. This exercise is crucial for increasing capital for the wearable medical robotics company, which aims to enhance functionality for those with neurological disorders and upper-limb paralysis. The company's MyoPro product line helps restore mobility to patients, enabling them to perform daily activities and potentially return to work.
Myomo, Inc. (NYSE American:MYO) announced participation in the Fall Harvest - Best Ideas From the Buy-Side conference from October 5-8, 2021. CEO Paul Gudonis and CFO David Henry will present on October 5 at 1:00 p.m. ET, with live webcasting available. One-on-one meetings can be scheduled during the conference. Myomo specializes in wearable medical robotics, focusing on assisting those with neurological disorders and upper-limb paralysis through its MyoPro product line.
For more details, visit www.myomo.com.
Myomo, Inc. (NYSE American: MYO) has secured patents for its advanced powered orthotic device in location value="LC/cn"China and location value="LC/hk"Hong Kong. The patents, effective until June 2036, will be licensed to a joint venture in China created with Beijing Ryzur Medical Investment Co., Ltd.. This venture aims to introduce Myomo's technology to the extensive Chinese market, which has approximately 14 million individuals with upper-arm paralysis. The CEO expressed optimism about becoming a standard care solution for these patients.
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.