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.
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Rhea-AI Summary
Myomo, Inc. (NYSE American: MYO) reported Q3 total revenue of $5.1 million, up 28% over the prior year, with 156 MyoPro orders and insurance authorizations received, including the first payments for five Medicare Part B patients.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
7.39%
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Rhea-AI Summary
Myomo, Inc. announced that the Centers for Medicare & Medicaid Services (CMS) has proposed fee schedule rates for the MyoPro, a wearable medical robotics device, to be discussed at the HCPCS Public Meeting. The proposed rates for the two HCPCS codes describing the MyoPro are $31,745.42 and $62,457.28. CMS has classified the MyoPro as a brace, enabling reimbursement on a lump sum basis starting from January 1, 2024.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
21.17%
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Rhea-AI Summary
Myomo, Inc. announced that the Centers for Medicare & Medicaid Services (CMS) has classified the MyoPro as a brace under the brace benefit category. This means that Medicare Part B patients now have access to the MyoPro, which will be reimbursed on a lump sum basis. The final rule will be published on November 13, 2023, and will be effective on January 1, 2024. The MyoPro has already been covered and paid on a rental basis for five Medicare beneficiaries, and future claims will continue to be reviewed on a claim-by-claim basis.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
8%
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Rhea-AI Summary
Myomo, a wearable medical robotics company, will report financial results for Q3 and 9M 2023 on November 7, 2023. The company will host a conference call with prepared remarks by the CEO and CFO. Participants can pre-register for the call and access it through a webcast or dial-in. A replay will be available.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
10.62%
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Rhea-AI Summary
Myomo, Inc. closes public offering, raising approximately $4.4 million
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-6.09%
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Rhea-AI Summary
Myomo, Inc. announces pricing of public offering, expecting gross proceeds of $4.4 million. Proceeds will be used for general corporate purposes and potential expansion of operations. If CMS finalizes classification as a brace, proceeds will also be used for headcount increase and inventory procurement.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-10.13%
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Rhea-AI Summary
Myomo, Inc. plans to offer and sell shares of its common stock in a public offering, with the proceeds being used for general corporate purposes. The offering is subject to market conditions and there is no assurance as to its completion or size. If the Company's classification as a brace is finalized by the Centers for Medicare and Medicaid Services, the proceeds will also be used to fund additions to the headcount and procure additional inventory.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-10.13%
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Rhea-AI Summary
Myomo receives payments for two MyoPro claims and progresses in re-classifying MyoPro to the brace benefit category under CMS rulemaking.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-10.13%
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Rhea-AI Summary
Myomo wins cases against German insurers, BARMER and Mobil BKK, ordering them to cover costs for MyoPro orthosis for two patients. Rulings confirm MyoPro as a useful device for upper extremity impairment. Positive outcome for Myomo's wearable medical robotics technology.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-6.97%
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Rhea-AI Summary
Myomo, a wearable medical robotics company, has announced its Q2 financial results. The company reported a total revenue of $6.0 million, up 62% compared to the same quarter last year. Gross margin was 71.8%, up 6.6%. Myomo added 408 new candidates to its patient pipeline, representing a 57% increase. The Centers for Medicare and Medicaid Services issued a proposed rule that expands the definition of a brace to include products like MyoPro. Myomo expects to achieve modest year-over-year revenue growth in Q3.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-7.67%
Tags
Myomo, Inc.
NYSE:MYO
MYO Rankings
MYO Stock Data
97.97M
14.71M
13.93%
42.65%
2.47%
Surgical and Medical Instrument Manufacturing
Manufacturing
United States of America
BOSTON
About MYO
myomo's mission is to enable individuals to overcome their paralysis by providing innovative, myoelectric orthotics and support services. we are committed to working with healthcare professionals to deliver high quality outcomes and patient satisfaction through research collaborations and continuing education programs. the company empowers persons with a neuromuscular disability to perform functional activities at home, at work, and in the community, resulting in an improved quality of life and lower healthcare costs.