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.
Myomo, Inc. (NYSE American: MYO) has announced its participation in A.G.P.'s Virtual MedTech Summer Conference on July 29, 2021. This virtual event will allow investors to engage in one-on-one meetings with Myomo's management team. Myomo specializes in wearable medical robotics, particularly the MyoPro product line, which aids individuals with neurological disorders and upper-limb paralysis. The MyoPro device is unique for its ability to restore arm function using non-invasive EMG sensors, enabling users to perform daily activities and live independently.
Myomo, Inc. (NYSE American: MYO) announced its addition to the Russell Microcap® Index, effective today. This is a significant milestone aimed at raising the company's profile within the global investment community. Paul R. Gudonis, Myomo's representative, expressed enthusiasm about this inclusion, which enhances exposure to investment managers and institutions.
The membership in the Russell Microcap® Index lasts for one year, providing automatic inclusion in relevant growth and value indexes, which collectively benchmark approximately $10.6 trillion in assets.
Myomo, Inc. (NYSE American: MYO) will present a corporate overview at the Sidoti Virtual Investor Conference on June 23, 2021, from 10:45 a.m. to 11:15 a.m. Eastern Time. The presentation will be led by CEO Paul R. Gudonis and CFO David Henry. Interested investors can access the live webcast at sidoti.cventevents.com and the archived presentation will be available for 90 days on myomo.com. Myomo specializes in wearable medical robotics, enhancing functionality for those with neurological disorders.
Myomo, Inc. (NYSE American: MYO) announced the election of Milton Morris, PhD, as Director during its shareholder meeting on June 9, 2021. Dr. Morris, the current President and CEO of Neuspera Medical, brings significant expertise from his previous roles at Cyberonics, Guidant, and Boston Scientific. He has over 30 patents and numerous publications to his name. Paul R. Gudonis, Chairman and CEO of Myomo, expressed confidence in Dr. Morris's contributions towards the company's technology commercialization.
Myomo, Inc. (NYSE American: MYO) announced an update regarding its HCPCS Level II code change application for codes L8701 and L8702, initially submitted in January 2021. Due to delays in CMS's Proposed Rule finalization and changes in leadership, Myomo has withdrawn its application. The company aims to engage with CMS to discuss finalizing Medicare benefit categories for these codes. CEO Paul R. Gudonis noted the recent increase in health insurance access for over 800,000 Americans and expressed optimism about future collaborations with CMS to enhance patient access to MyoPro braces.
Myomo, Inc. (NYSE American: MYO), a leader in wearable medical robotics, announced that CEO Paul R. Gudonis and CFO David Henry will present at the Summer Solstice – Best Ideas From the Buy Side Conference on June 1, 2021, at 2:30 p.m. Eastern time. The conference, held virtually from June 1-4, 2021, is sponsored by the Microcap Rodeo. A webcast of the presentation will be accessible on the Company's website. Additionally, management will engage in one-on-one investor meetings on June 3-4, and registration for the conference is available online.
Myomo, a wearable medical robotics company, reported Q1 2021 financial results showing a 132% revenue increase year-over-year, totaling $2.3 million. The company sold 65 units, marking a 117% rise. Gross margin improved to 73%, up from 68% in Q1 2020. The reimbursement pipeline reached 940 MyoPro units, with 386 new candidates added. Operating loss narrowed to $2.9 million, while net loss decreased to $3.0 million, or $0.57 per share. Cash reserves stood at $17.4 million.
Myomo, Inc. (NYSE American: MYO) will report financial results for Q1 2021 on May 5, 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 can pre-register for the call or join via dial-in, with a webcast available on the company's Investor Relations page. Myomo specializes in wearable medical robotics for patients with neurological disorders, offering the MyoPro product line to restore upper limb function.
Myomo, Inc. (NYSE American: MYO) has announced successful completion of the first phase of clinical trials at Thomas Jefferson University, where brain-embedded sensors were used to control a MyoPro powered brace for stroke patients. Principal investigator Mijail Serruya described it as a proof of concept for future studies involving fully implanted wireless electrodes. Myomo's Vice President highlighted that over a thousand patients have benefited from the MyoPro, which aims to offer improved user independence. The announcement signifies potential advancements in neurological rehabilitation.
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.
FAQ
What is the current stock price of Myomo (MYO)?
What is the market cap of Myomo (MYO)?
What is Myomo Inc.?
What does Myomo's MyoPro device do?
Is the MyoPro device FDA approved?
How does Myomo support its patients?
Who can benefit from Myomo's products?
What partnerships does Myomo have?
What recent achievements has Myomo made?
How can Myomo's devices reduce healthcare costs?
What is Myomo's mission?
How does Myomo ensure high-quality outcomes?
