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.
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Myomo (AMEX: MYO) has announced the receipt of a $1.7 million payment as part of its Technology License Agreement with its joint venture in location value="LC/cn"China—Jiangxi Myomo Medical Assistive Appliance Co. Ltd.. This payment enables the start of technology transfer and the process of obtaining regulatory approval to manufacture and sell the MyoPro in location value="LC/cn"China, location value="LC/hk"Hong Kong, location value="LC/tw"Taiwan, and location value="LC/mo"Macau. The company expects to account for this fee as licensing revenue in Q2 2023. The joint venture has committed to purchasing at least $10.75 million in MyoPro units over the next decade, subject to regulatory approvals.
Myomo, Inc. (NYSE American: MYO), a company focused on wearable medical robotics, has announced a going concern emphasis of matter following its annual financial audit for the year ending December 31, 2022. This announcement, made in compliance with NYSE guidelines, does not alter the previously reported financial data. Myomo specializes in the MyoPro product line, which aids patients with neurological disorders or upper-limb paralysis, enhancing daily functionality. The MyoPro device uniquely employs non-invasive EMG sensors to support arm restoration, promoting independence and reducing care costs for users.
Myomo (NYSE American: MYO) reported fourth quarter revenue of $4.0 million, a 2% increase sequentially but flat year-over-year. Patient pipeline growth was notable, with 387 new patients added, a 75% rise from Q4 2021. The company achieved a 65.0% gross margin, a decline from 77.4% in the prior year, driven by increased product costs. Operating expenses decreased by 17% to $4.9 million. The company anticipates first quarter 2023 product revenue growth between 15% and 20% and full-year growth of 20% to 30%. Cash position stood at $5.3 million as of December 31, 2022.
Myomo, Inc. (NYSE American: MYO) will report its financial results for the year ended December 31, 2022, on March 13, 2023, before market open. A conference call will follow at 10:00 a.m. ET, featuring remarks from CEO Paul R. Gudonis and CFO David Henry. Participants can pre-register here or dial in at 1-844-707-6932. Myomo specializes in wearable medical robotics, specifically targeted at patients with upper-limb paralysis due to conditions like stroke and ALS, primarily through their MyoPro product line.
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.