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Myomo Inc. - MYO STOCK NEWS

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. (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.

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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.
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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.
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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.
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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.
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Myomo, Inc. closes public offering, raising approximately $4.4 million
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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.
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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.
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Myomo receives payments for two MyoPro claims and progresses in re-classifying MyoPro to the brace benefit category under CMS rulemaking.
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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.
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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.
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FAQ

What is the current stock price of Myomo (MYO)?

The current stock price of Myomo (MYO) is $5.09 as of November 22, 2024.

What is the market cap of Myomo (MYO)?

The market cap of Myomo (MYO) is approximately 152.7M.

What is Myomo Inc.?

Myomo Inc. is a wearable medical robotics company that develops myoelectric orthotics for individuals with neuromuscular disorders.

What does Myomo's MyoPro device do?

The MyoPro myoelectric orthosis helps individuals with paralysis or muscle weakness regain functional use of their arms and hands.

Is the MyoPro device FDA approved?

Yes, the MyoPro device is registered with the FDA as a Class II medical device.

How does Myomo support its patients?

Myomo collaborates with healthcare professionals and offers direct insurance billing to support its patients.

Who can benefit from Myomo's products?

Individuals with neuromuscular disabilities, including veterans, can benefit from Myomo's orthotic devices.

What partnerships does Myomo have?

Myomo partners with orthotics and prosthetics providers, as well as the Veterans Health Administration (VA).

What recent achievements has Myomo made?

Myomo has expanded its market presence and enhanced its product offerings through strategic partnerships and continuous research.

How can Myomo's devices reduce healthcare costs?

By enabling patients to perform daily activities independently, Myomo's devices can lead to lower long-term healthcare costs.

What is Myomo's mission?

Myomo's mission is to enable individuals to overcome paralysis by providing innovative myoelectric orthotics and support services.

How does Myomo ensure high-quality outcomes?

Myomo ensures high-quality outcomes through research collaborations and continuing education programs with healthcare professionals.

Myomo Inc.

NYSE:MYO

MYO Rankings

MYO Stock Data

152.74M
24.90M
13.04%
51.35%
3.38%
Medical Devices
Orthopedic, Prosthetic & Surgical Appliances & Supplies
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United States of America
BOSTON