Myomo Stock Price, News & Analysis

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.

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.