Myomo Inc. develops and markets wearable medical robotics for people with neurological disorders and upper-limb paralysis. Its MyoPro product line is a powered upper-limb orthosis that uses non-invasive EMG sensors to support weakened or paralyzed arms in patients with conditions such as stroke, brachial plexus injury, traumatic brain injury, spinal cord injury and other neuromuscular disease or injury.
Company news commonly covers MyoPro orders, insurance authorizations, patient-pipeline trends, revenue from recurring patient sources, market-access relationships with orthotics and prosthetics providers, and product-development updates such as the Myomo Mobile App. Updates also include clinical research evaluating MyoPro, operating results, direct-billing activity, international sales channels and board governance changes.
Myomo, a wearable medical robotics company, will present at the Sidoti Virtual Investor Conference on June 12-13, 2024. The company’s chairman and CEO, Paul Gudonis, alongside CFO David Henry, will lead the presentation and host one-on-one meetings with investors. The presentation is scheduled for 10:00 a.m. ET on June 12th and is accessible online. Investors can also request one-on-one meetings on both days. Registration for the event is free and available on Sidoti’s website.
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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