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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, Inc. (NYSE American: MYO) announced an amended joint venture agreement with Beijing Ryzur Medical Investment and Wuxi Chinaleaf Rehabilitation Fund. Myomo retains a 19.9% stake in the venture, while Ryzur holds 65.1%. An upfront license fee of
Myomo (NYSE American: MYO) reported record financial results for Q3 2021, achieving $4.4 million in revenue, a 128% increase year-over-year, and 159% year-to-date. Gross margin improved to 75%, up 1,900 basis points. The backlog rose to a record 177 units. However, the company faces challenges including temporary labor shortages impacting deliveries. The net loss for Q3 was $2.1 million, or $0.36 per share. Despite strong revenue growth, forecasting for Q4 is difficult due to these constraints.
Myomo, Inc. (NYSE American: MYO) will announce its financial results for the three and nine months ended
Myomo, Inc. (NYSE American: MYO) has announced agreements with warrant holders to exercise 1,015,798 shares at $5.00 each, generating approximately
Myomo, Inc. (NYSE American:MYO) announced participation in the Fall Harvest - Best Ideas From the Buy-Side conference from October 5-8, 2021. CEO Paul Gudonis and CFO David Henry will present on October 5 at 1:00 p.m. ET, with live webcasting available. One-on-one meetings can be scheduled during the conference. Myomo specializes in wearable medical robotics, focusing on assisting those with neurological disorders and upper-limb paralysis through its MyoPro product line.
For more details, visit www.myomo.com.
Myomo, Inc. (NYSE American: MYO) has secured patents for its advanced powered orthotic device in
Myomo, Inc. (NYSE American:MYO), a company specializing in wearable medical robotics for neurological disorders and upper-limb paralysis, announced participation in three investment conferences in September 2021. These include the Colliers Institutional Investor Conference on September 9, the H.C. Wainwright Global Investment Conference from September 13-15, and the Oppenheimer Fall Healthcare Summit from September 20-23. Myomo's MyoPro device is the only one that restores arm function using the patient's own EMG signals, enabling independence for users.
Myomo, a wearable medical robotics company, reported significant financial growth for Q2 2021. Revenue reached $3.1 million, a 262% increase year-over-year, with 80 units sold, up 233%. Gross margin improved to 71%, up from 51% a year ago. Operating loss narrowed to $2.6 million from $2.8 million year-over-year. The backlog rose by 36% to 160 units. Management is optimistic for continued growth in Q3, driven by direct-to-patient marketing and expanding insurance coverage for MyoPro devices.
Myomo, Inc. (NYSE American: MYO) will report its financial results for the three and six months ended June 30, 2021 on August 9, 2021, after market close. A conference call will follow at 4:30 p.m. ET with remarks from CEO Paul R. Gudonis and CFO David Henry. Participants are encouraged to pre-register for immediate access. Myomo specializes in wearable medical robotics aimed at improving upper limb function in patients with neurological disorders and paralysis, featuring the MyoPro product line that utilizes EMG sensors for functionality restoration.
Myomo, Inc. (NYSE American: MYO) announced its accreditation by the Healthcare Quality Association on Accreditation (HQAA), confirming compliance with the Social Security Act requirements. This accreditation follows the Company’s authorization as a Medicare Provider by the Centers for Medicare & Medicaid Services (CMS). CEO Paul R. Gudonis highlighted that while reimbursement for MyoPro orthosis is approved on a case-by-case basis, broader coverage could enhance service for beneficiaries suffering from upper-limb paralysis. However, he emphasized that coverage terms from CMS are still pending.
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