Myomo Stock Price, News & Analysis

Myomo (NYSE American: MYO), a wearable medical robotics company focused on neurological disorders and upper-limb paralysis, has scheduled its fourth quarter and full-year 2024 financial results announcement for March 10, 2025.

The company will host a conference call at 4:30 p.m. ET featuring prepared remarks from Chairman and CEO Paul R. Gudonis and CFO David Henry. Participants can pre-register for the call online or dial in directly using 844-707-6932 (U.S.) or 412-317-9250 (International).

A webcast will be available on Myomo's Investor Relations page, with replay access until March 24, 2025.

Inogen (NASDAQ: INGN) announced changes to its Board of Directors, effective January 2025. Mira Kirti Sahney has been appointed as a new board member, while Tom West will retire after serving since April 2023.

Sahney brings significant medical device industry experience, currently serving on Claria Medical's board and previously as President of Medtronic's Pelvic Health Operating Unit (2021-2024). Her experience includes roles as CEO of Hyalex Orthopaedics, leadership positions at Smith + Nephew, and co-founding Myomo. She holds multiple engineering degrees from University of Michigan and Stanford, plus an MBA from MIT.

In her new role, Sahney will join Inogen's Compliance Committee and the Nominating and Governance Committee. The appointment aims to strengthen Inogen's position as a global leader in respiratory care.

Myomo (NYSE American: MYO), a wearable medical robotics company, has announced pricing for its underwritten public offering of 3,000,000 shares of common stock at $5.00 per share, expecting to raise approximately $15.0 million in gross proceeds. The underwriter, Craig-Hallum Capital Group, has a 30-day option to purchase up to 450,000 additional shares.

The company plans to use the proceeds to accelerate revenue growth through increased advertising and headcount, enhance systems for O&P channel growth, fund product development, and improve the current MyoPro product line. The offering is expected to close around December 6, 2024, subject to customary conditions.

Myomo (NYSE American: MYO), a wearable medical robotics company, has announced plans for an underwritten public offering of common stock. The company will grant the underwriter, Craig-Hallum Capital Group, a 30-day option to purchase up to an additional 15% of the offered shares.

The net proceeds will be used to:

• Accelerate revenue growth through increased advertising and headcount
• Support growth in the O&P channel and scale operations
• Fund product development and enhance the current MyoPro product line
• Develop next-generation products
• Provide working capital for general corporate purposes

The offering is being made under a shelf registration statement on Form S-3 that was declared effective on August 28, 2024.

Myomo reported record financial results for Q3 2024, with revenue reaching $9.2 million, an 81% increase year-over-year. Product revenue was up 83%, driven by a 35% rise in revenue units to 161 and a higher average selling price (ASP) of approximately $57,200. The company recorded 225 MyoPro authorizations and orders, a 44% increase, and a backlog of 316 units, up 71%. The patient pipeline grew by 21% to 1,263 candidates. Gross margin improved to 75.4%, up 670 basis points. Operating expenses rose 43% to $7.9 million, leading to a reduced operating loss of $1.0 million. Net loss was $1.0 million, or $0.03 per share, compared to $2.0 million, or $0.06 per share, in Q3 2023. Myomo raised its full-year revenue guidance to $30-$31 million, citing a strong backlog and expected sequential revenue growth in Q4 2024.

Myomo (NYSE American: MYO) has secured its first private insurance contracts for in-network coverage of MyoPro with Blue Cross Blue Shield of Massachusetts and Paradigm. These contracts will enable MyoPro to be provided to patients covered by private insurance on an in-network basis, serving approximately 3 million covered lives. This development follows existing Medicare Part B coverage and represents a significant step toward establishing MyoPro as a standard of care for patients with neurological disorders and upper-limb paralysis.

Myomo, a wearable medical robotics company focused on neurological disorders and upper-limb paralysis, has announced it will release its third quarter 2024 financial results on November 6, 2024. The company will host a conference call at 4:30 p.m. ET featuring remarks from chairman and CEO Paul R. Gudonis and CFO David Henry. Participants can pre-register for the call or dial in directly. A webcast will be available on Myomo's Investor Relations page, with replay access until November 20, 2024.

Myomo, a wearable medical robotics company, announced its participation in the 2024 Maxim Healthcare Virtual Summit. The event, presented by Maxim Group , will take place from October 15th to 17th. Myomo's president and CEO, Paul Gudonis, along with CFO David Henry, will engage in a 'Fireside Chat' on Wednesday, October 16th at 10:30 a.m. Eastern Time.

The interview will be conducted by Anthony Vendetti, Maxim's Executive Managing Director of Research and Senior Healthcare Analyst. The summit will feature presentations and interactive discussions with CEOs and key management from various healthcare-related companies. Interested participants can sign up for M-Vest membership to attend. Myomo's management is also available for one-on-one meetings with investors, which can be scheduled through LHA Investor Relations.

Myomo, Inc. (NYSE American: MYO) has launched the Myomo Academy, a comprehensive learning management system for professionals in Orthotics & Prosthetics (O&P) and Rehabilitation. The launch took place at the 2024 AOPA National Assembly in Charlotte, NC. The Academy offers a wide range of courses from introductory to advanced levels, designed to support Centers of Excellence and therapy training.

The platform aims to provide ongoing education and easy access to clinically relevant content, ensuring clinicians stay updated on upper-extremity myoelectric orthosis technology. Myomo's CEO, Paul R. Gudonis, emphasized the company's commitment to delivering exceptional educational content to help clinicians provide the best care for their patients.