Myomo Stock Price, News & Analysis

Myomo, Inc. (NYSE American: MYO), a leader in wearable medical robotics, will present at the 35th Annual Roth Conference on March 13-14, 2023, at The Ritz-Carlton in Dana Point, California. David Henry, Myomo's CFO, will participate in a 'Fireside Chat' on March 13 at 1:30 p.m. PT. A live webcast of his presentation will be available here and will also be archived on the company's website.

Myomo, Inc. (NYSE American: MYO) will announce financial results for the three months and year ended December 31, 2022, on March 13, 2023, before market opening. A conference call is scheduled for the same day at 10:00 a.m. ET, featuring remarks from CEO Paul R. Gudonis and CFO David Henry. Participants can pre-register for the call to receive a passcode for immediate access. Myomo specializes in wearable medical robotics, improving arm function for patients with neurological disorders and upper-limb paralysis. Their MyoPro devices restore function through EMG signals, enabling daily activities and independence for users.

Myomo, Inc. (NYSE American: MYO) announced that the National Disability Insurance Scheme (NDIS) in Australia has approved reimbursement for the MyoPro device, enhancing access for patients with upper-limb paralysis. The first beneficiary, Natalee W., who suffered a brain aneurysm and stroke at 16, benefited from a trial funded by NDIS, enabling her to regain functionality in daily activities. Myomo seeks to increase market reach with this approval. The patented MyoPro technology, developed with MIT and Harvard Medical School, is designed to restore arm function through sensing the patient's EMG signals.

Myomo, Inc. (NYSE American: MYO) has appointed Yitzchak Jacobovitz as a Class II director effective January 27, 2023. Jacobovitz, who brings extensive healthcare investment experience from AIGH Capital Management, will serve until the 2025 annual stockholders' meeting. This appointment expands the board to six directors. CEO Paul R. Gudonis expressed confidence that Jacobovitz's insights will add significant value to the company. Myomo develops wearable medical robotics, including the MyoPro device, which aids individuals with upper-limb paralysis by restoring functionality through sensing patient’s EMG signals, enhancing their ability to perform daily activities.

Myomo, Inc. (NYSE American: MYO) has successfully closed its "best efforts" public offering of 20 million shares at a price of $0.325 per share, generating approximately $6.5 million in gross proceeds. The funds will be utilized for working capital and general corporate purposes. Management and select healthcare-focused investors participated in the offering, facilitated by A.G.P./Alliance Global Partners as the placement agent. The securities were offered under registration statements effective January 11, 2023. The offering supports Myomo's mission of improving upper-limb function for patients with neurological disorders.

Myomo, Inc. (NYSE American: MYO) announced a public offering of 20 million shares at $0.325 each, aiming to raise approximately $6.5 million before expenses. The offering is set to close around January 17, 2023, pending customary conditions. The funds will be utilized for working capital and corporate needs. Management and selected healthcare investors are participating. A.G.P./Alliance Global Partners serves as the placement agent. The offering follows the registration statements filed with the SEC, which became effective on January 11, 2023.

Myomo, Inc. (NYSE American: MYO) announced a reduction in force impacting approximately 12% of its workforce to enhance efficiency in its direct billing channel. This decision aims to reduce cash burn and is expected to save over $2 million annually. The CEO, Paul Gudonis, emphasized that this was a necessary step to improve operating leverage and extend the company's cash runway while pursuing reimbursement for the MyoPro device.

Myomo, Inc. (NYSE American: MYO) announced steps to obtain Medicare Part B reimbursement for its MyoPro device after meeting with DME MAC medical directors. The company has been discussing changing the MyoPro's classification from durable medical equipment to an orthosis, which would allow for a single payment reimbursement. Discussions are ongoing, and claims will start to be submitted in early 2023. Myomo’s MyoPro is currently covered by some Medicare Advantage plans and other insurers. However, no assurance is provided regarding CMS's decision on reimbursement or payment timing.

Myomo, Inc. (NYSE American: MYO) has won a pivotal ruling in Germany confirming that its MyoPro powered orthosis is an orthopedic aid. The Berlin-Brandenburg Regional Social Court mandated that DAK, Germany's third-largest health insurer, must cover the costs associated with the MyoPro for a 33-year-old plaintiff who suffered paralysis after a motor vehicle accident. This ruling aims to ease access to MyoPro devices for patients with upper extremity impairments, which can significantly enhance their quality of life.