Myomo Stock Price, News & Analysis

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 16^th to February 19^th. Myomo will showcase its innovative solutions for those with neurological disorders and upper-limb paralysis on February 16^th 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.

Myomo, Inc. (NYSE American: MYO) reported preliminary financial results for Q4 and the full year 2020, forecasting revenue growth of 110% to 143% year-over-year for Q4, expected to be between $3.2 million and $3.7 million. The total revenue for 2020 is anticipated to be between $7.0 million and $7.5 million, marking an increase of 84% to 97%. Cash utilization reached a record low of approximately $1.1 million in Q4. Myomo aims for cash flow breakeven by Q4 2021, despite challenges posed by COVID-19.

Myomo, Inc. (NYSE American: MYO) announced that CEO Paul Gudonis and CFO David Henry will present at the H.C. Wainwright Virtual BioConnect 2021 Conference from January 11-14, 2021. The presentation will be accessible starting January 11, 2021, at 6:00 a.m. Eastern time, and will be archived for 90 days. Myomo specializes in wearable medical robotics aimed at improving functionality for patients with neurological disorders and upper-limb paralysis, mainly through its MyoPro product line, which uses EMG signals to restore upper limb function.