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, Inc. (NYSE American: MYO), a leader in wearable medical robotics, announced that CEO Paul R. Gudonis and CFO David Henry will present at the Summer Solstice – Best Ideas From the Buy Side Conference on June 1, 2021, at 2:30 p.m. Eastern time. The conference, held virtually from June 1-4, 2021, is sponsored by the Microcap Rodeo. A webcast of the presentation will be accessible on the Company's website. Additionally, management will engage in one-on-one investor meetings on June 3-4, and registration for the conference is available online.
Myomo, a wearable medical robotics company, reported Q1 2021 financial results showing a 132% revenue increase year-over-year, totaling $2.3 million. The company sold 65 units, marking a 117% rise. Gross margin improved to 73%, up from 68% in Q1 2020. The reimbursement pipeline reached 940 MyoPro units, with 386 new candidates added. Operating loss narrowed to $2.9 million, while net loss decreased to $3.0 million, or $0.57 per share. Cash reserves stood at $17.4 million.
Myomo, Inc. (NYSE American: MYO) will report financial results for Q1 2021 on May 5, 2021, after market close. A conference call is scheduled for 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 via dial-in, with a webcast available on the company's Investor Relations page. Myomo specializes in wearable medical robotics for patients with neurological disorders, offering the MyoPro product line to restore upper limb function.
Myomo, Inc. (NYSE American: MYO) has announced successful completion of the first phase of clinical trials at Thomas Jefferson University, where brain-embedded sensors were used to control a MyoPro powered brace for stroke patients. Principal investigator Mijail Serruya described it as a proof of concept for future studies involving fully implanted wireless electrodes. Myomo's Vice President highlighted that over a thousand patients have benefited from the MyoPro, which aims to offer improved user independence. The announcement signifies potential advancements in neurological rehabilitation.
Myomo (MYO) reported robust financial results for Q4 and full-year 2020. Revenue surged 149% to $3.8 million, matching full-year 2019 figures. The gross margin improved to 73%, up from 72% YoY. Direct billing constituted 77% of total revenue, reflecting strategic shifts. Operating loss decreased to $1.7 million from $2.6 million YoY. However, management anticipates a seasonal revenue decline in Q1 2021. Cash reserves stood at $12.2 million, expected to support operations into 2022. Significant growth in the reimbursement pipeline was noted, with 768 MyoPro units as of year-end.
Myomo, Inc. (NYSE: MYO) has announced participation in three virtual investment conferences in March 2021. CEO Paul R. Gudonis and CFO David Henry will represent the company at:
- The H.C. Wainwright Global Life Sciences Virtual Conference on March 9-10.
- The Virtual 33rd Annual Roth Conference on March 15-17.
- The Maxim Group Inaugural Emerging Growth Virtual Conference on March 17-18.
The Roth Capital presentation will be available online from March 11, 2021. Myomo specializes in wearable medical robotics designed to assist those with neurological disorders and upper-limb paralysis in improving functionality.
Myomo, Inc. (NYSE American: MYO) will announce its financial results for the three months and year ended December 31, 2020, on March 10, 2021, after market close. A conference call is scheduled for the same day at 4:30 p.m. ET, featuring remarks from CEO Paul R. Gudonis and CFO David Henry. Participants are encouraged to pre-register for the call. Myomo specializes in wearable medical robotics, particularly the MyoPro product line, which aids those with neurological disorders in regaining arm function. More information is available on their website.
Myomo, Inc. (NYSE American: MYO) has announced that Techniker Krankenkasse (TK), Germany's largest statutory health insurance, now reimburses MyoPro on a case-by-case basis. This adds to existing coverage from other major German insurers, collectively covering 28 million lives. Approximately 90% of the German population is insured under SHI. Allianz, a private insurer, also authorized MyoPro. Myomo aims to become a global standard for patients with arm paralysis, supported by a network of 35 facilities in Germany.
Myomo, Inc. (NYSE American: MYO) has announced its presentation at the Winter Wonderland – Best Ideas from the Buy-side Conference, scheduled virtually from February 16th to February 19th. Myomo will showcase its innovative solutions for those with neurological disorders and upper-limb paralysis on February 16th at 10:00 a.m. Eastern time. The presentation can be accessed through a link provided in the Investor Relations section of Myomo’s website.
Myomo specializes in wearable robotics, particularly the MyoPro product line, which enhances arm and hand functionality for affected individuals.
Myomo, Inc. (NYSE American: MYO) has signed a joint venture agreement with Beijing Ryzur Medical Investment Co., Ltd. to manufacture and sell its products in greater China, including Hong Kong, Macau, and Taiwan. Myomo will hold a 19.9% stake in the JV named Jiangxi Myomo Medical Assistive Appliance Co., Ltd., with Ryzur Medical investing $8-$20 million over five years. The JV aims to address the 14 million people suffering from chronic arm paralysis in China, leveraging Myomo's MyoPro technology.
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