Myomo Inc. - MYO STOCK NEWS

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 Due to delays in CMS's Proposed Rule finalization and changes in leadership, Myomo has withdrawn its application.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.

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.