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, a wearable medical robotics company, reported financial results for Q1 2024. Highlights include $3.8 million in revenue, up 9% from Q1 2023, a record 275 patients in backlog, and 493 MyoPro candidates added to the pipeline. Gross margin decreased to 61.2%, and operating expenses increased by 24%. Net loss was $3.8 million. The company has a cash position of $11.0 million and expects to generate $28-30 million in revenue in 2024.
Myomo, Inc. (NYSE American: MYO) announced that Medicare Part B beneficiaries are receiving lump sum reimbursements for MyoPros, a wearable medical robotics offering increased functionality for those with neurological disorders and upper-limb paralysis. CMS has remitted payments based on published rates, effective April 1, 2024, through their regional contractors known as DME MACs. The company is pleased with the equitable access to this technology and the interest from clinical providers in the orthotics and prosthetics industry.
Myomo, a wearable medical robotics company, will report financial results for the first quarter ended March 31, 2024 on May 8, 2024. The Company will host a conference call on the same day with prepared remarks by its executives. Participants can pre-register for the call to gain immediate access.
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