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Myomo Inc. (MYO) is a pioneering company in the field of wearable medical robotics, dedicated to enhancing the quality of life for individuals with neuromuscular disorders. The company specializes in the development, design, and production of myoelectric orthotics, with its flagship product being the MyoPro myoelectric upper limb orthosis. This device is designed to help individuals with paralysis or weakened muscles regain functional use of their arms and hands.
Registered with the Food and Drug Administration (FDA) as a Class II medical device, the MyoPro orthosis assists users in performing daily activities, thereby improving their independence and overall quality of life. Myomo's mission is to enable individuals to overcome their paralysis through innovative solutions and support services.
Myomo collaborates with healthcare professionals to ensure high-quality outcomes and patient satisfaction. These partnerships are strengthened through ongoing research collaborations and continuing education programs. The company supplies its devices to patients across the globe, including partnerships with orthotics and prosthetics providers and the Veterans Health Administration (VA). Notably, Myomo also handles insurance billing directly, easing the financial process for patients.
In recent achievements, Myomo has continued to expand its market presence and enhance its product offerings. Through strategic partnerships and a commitment to research and development, the company remains at the forefront of medical innovation. Myomo's dedication to reducing healthcare costs while improving patient outcomes underscores its significance in the medical field.
For those seeking the latest updates and relevant information about Myomo's performance, ongoing projects, and recent developments, staying informed through reliable news sources is essential.
Myomo (MYO) reported robust financial results for Q4 and full-year 2020. Revenue surged 149% to $3.8 million, matching full-year 2019 figures. The gross margin improved to 73%, up from 72% YoY. Direct billing constituted 77% of total revenue, reflecting strategic shifts. Operating loss decreased to $1.7 million from $2.6 million YoY. However, management anticipates a seasonal revenue decline in Q1 2021. Cash reserves stood at $12.2 million, expected to support operations into 2022. Significant growth in the reimbursement pipeline was noted, with 768 MyoPro units as of year-end.
Myomo, Inc. (NYSE: MYO) has announced participation in three virtual investment conferences in March 2021. CEO Paul R. Gudonis and CFO David Henry will represent the company at:
- The H.C. Wainwright Global Life Sciences Virtual Conference on March 9-10.
- The Virtual 33rd Annual Roth Conference on March 15-17.
- The Maxim Group Inaugural Emerging Growth Virtual Conference on March 17-18.
The Roth Capital presentation will be available online from March 11, 2021. Myomo specializes in wearable medical robotics designed to assist those with neurological disorders and upper-limb paralysis in improving functionality.
Myomo, Inc. (NYSE American: MYO) will announce its financial results for the three months and year ended December 31, 2020, on March 10, 2021, after market close. A conference call is scheduled for the same day at 4:30 p.m. ET, featuring remarks from CEO Paul R. Gudonis and CFO David Henry. Participants are encouraged to pre-register for the call. Myomo specializes in wearable medical robotics, particularly the MyoPro product line, which aids those with neurological disorders in regaining arm function. More information is available on their website.
Myomo, Inc. (NYSE American: MYO) has announced that Techniker Krankenkasse (TK), Germany's largest statutory health insurance, now reimburses MyoPro on a case-by-case basis. This adds to existing coverage from other major German insurers, collectively covering 28 million lives. Approximately 90% of the German population is insured under SHI. Allianz, a private insurer, also authorized MyoPro. Myomo aims to become a global standard for patients with arm paralysis, supported by a network of 35 facilities in Germany.
Myomo, Inc. (NYSE American: MYO) has announced its presentation at the Winter Wonderland – Best Ideas from the Buy-side Conference, scheduled virtually from February 16th to February 19th. Myomo will showcase its innovative solutions for those with neurological disorders and upper-limb paralysis on February 16th at 10:00 a.m. Eastern time. The presentation can be accessed through a link provided in the Investor Relations section of Myomo’s website.
Myomo specializes in wearable robotics, particularly the MyoPro product line, which enhances arm and hand functionality for affected individuals.
Myomo, Inc. (NYSE American: MYO) has signed a joint venture agreement with Beijing Ryzur Medical Investment Co., Ltd. to manufacture and sell its products in greater China, including Hong Kong, Macau, and Taiwan. Myomo will hold a 19.9% stake in the JV named Jiangxi Myomo Medical Assistive Appliance Co., Ltd., with Ryzur Medical investing $8-$20 million over five years. The JV aims to address the 14 million people suffering from chronic arm paralysis in China, leveraging Myomo's MyoPro technology.
Myomo, Inc. (NYSE American: MYO) reported preliminary financial results for Q4 and the full year 2020, forecasting revenue growth of 110% to 143% year-over-year for Q4, expected to be between $3.2 million and $3.7 million. The total revenue for 2020 is anticipated to be between $7.0 million and $7.5 million, marking an increase of 84% to 97%. Cash utilization reached a record low of approximately $1.1 million in Q4. Myomo aims for cash flow breakeven by Q4 2021, despite challenges posed by COVID-19.
Myomo, Inc. (NYSE American: MYO) announced that CEO Paul Gudonis and CFO David Henry will present at the H.C. Wainwright Virtual BioConnect 2021 Conference from January 11-14, 2021. The presentation will be accessible starting January 11, 2021, at 6:00 a.m. Eastern time, and will be archived for 90 days. Myomo specializes in wearable medical robotics aimed at improving functionality for patients with neurological disorders and upper-limb paralysis, mainly through its MyoPro product line, which uses EMG signals to restore upper limb function.
Myomo, Inc. (NYSE American:MYO), a company focused on wearable medical robotics, has been invited to present at the MicroCap Rodeo Best Ideas Bowl from October 13-16, 2020. Myomo's presentation is scheduled for October 13 at 4:30 p.m. ET, featuring CEO Paul Gudonis and CFO David Henry. The conference will showcase 25 top investment ideas from institutional investors, aiming to identify opportunities for alpha generation. Myomo's MyoPro product line aids those with upper-limb paralysis, enabling daily activities and promoting independence.
Myomo, Inc. (NYSE American:MYO) announced its participation in the LD 500 investor conference on September 2, 2020, at 11:00 a.m. EDT. The presentation will be led by CEO Paul Gudonis and CFO David Henry, streamed to a virtual audience. This marks a significant opportunity for Myomo to showcase its advancements in wearable medical robotics that aid those with neurological disorders. The LD 500 conference runs from September 1-4, and interested parties can register for the real-time presentation online, with a replay available on Myomo's website.
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