Myomo Inc. develops and markets wearable medical robotics for people with neurological disorders and upper-limb paralysis. Its MyoPro product line is a powered upper-limb orthosis that uses non-invasive EMG sensors to support weakened or paralyzed arms in patients with conditions such as stroke, brachial plexus injury, traumatic brain injury, spinal cord injury and other neuromuscular disease or injury.
Company news commonly covers MyoPro orders, insurance authorizations, patient-pipeline trends, revenue from recurring patient sources, market-access relationships with orthotics and prosthetics providers, and product-development updates such as the Myomo Mobile App. Updates also include clinical research evaluating MyoPro, operating results, direct-billing activity, international sales channels and board governance changes.
Myomo, Inc. (NYSE American: MYO) has won a pivotal ruling in Germany confirming that its MyoPro powered orthosis is an orthopedic aid. The Berlin-Brandenburg Regional Social Court mandated that DAK, Germany's third-largest health insurer, must cover the costs associated with the MyoPro for a 33-year-old plaintiff who suffered paralysis after a motor vehicle accident. This ruling aims to ease access to MyoPro devices for patients with upper extremity impairments, which can significantly enhance their quality of life.
Myomo, Inc. (NYSE American: MYO) reported third quarter 2022 revenue of $4.0 million, reflecting an 8% sequential increase despite a 9% decline year-over-year. The company achieved a record backlog of 184 units with 130 new patient authorizations, up 27% sequentially. Gross margin for the quarter was 66.5%, a decrease of 820 basis points from last year. Operating loss increased to $2.8 million. The company expects modest sequential growth in product revenue for Q4 and a larger pipeline entering 2023.
Myomo, Inc. (NYSE American: MYO) announced it will report financial results for the three and nine months ended September 30, 2022, on November 10, 2022, 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 immediate access. Myomo specializes in wearable medical robotics, aiding those with neurological disorders. The MyoPro product line supports arm function for individuals with paralysis.
Myomo, Inc. (NYSE American: MYO) will present at the Microcap Rodeo conference on October 12, 2022, at 9:30 a.m. Central time. Paul Gudonis, Myomo's CEO, will lead the presentation, which will be available via live webcast. This event will take place in Chicago, featuring 60 microcap companies and valuable insights for investors. One-on-one meetings can be scheduled, and registration is encouraged for attendees. Myomo specializes in wearable medical robotics, particularly the MyoPro device that assists those with upper limb paralysis.
Myomo, Inc. (NYSE American: MYO), a company specializing in wearable medical robotics, is set to present at the H.C. Wainwright 24th Annual Global Investment Conference from September 12 to 14 in New York City. The CEO, Paul Gudonis, and CFO, David Henry, will participate virtually. A webcast of their presentation will be available on-demand starting September 12, 2022, at 7:00 a.m. Eastern time. Myomo develops MyoPro, a powered upper limb orthosis aimed at restoring function for patients with neurological disorders and paralysis, improving daily living activities.
Myomo, a company focused on wearable medical robotics, has received a $120,000 order for MyoPro units from the Louis Stokes Cleveland VA Medical Center. This order supports an investigator-initiated randomized clinical trial led by Dr. Svetlana Pundik, aimed at assessing the MyoPro’s efficacy in motor learning therapy for chronic stroke patients with severe upper limb deficits. Revenue from this order is anticipated in the coming months as devices are fitted to study participants.
Myomo reported a Q2 2022 revenue of $3.7 million, up 18% year-over-year, driven by a higher average selling price. The patient pipeline reached a record 1,049 candidates, marking a 52% increase. However, gross margin fell to 65.5%, down 550 basis points from last year, due to increased product costs. Despite these results, Myomo expects sequential growth in future quarters, though year-over-year revenue may decline in Q3 due to market conditions.
Myomo, Inc. (AMEX:MYO) will report its financial results for the three and six months ended June 30, 2022 on August 3, 2022, after market close. A conference call will follow at 4:30 p.m. ET, featuring remarks from CEO Paul R. Gudonis and CFO David Henry. Participants can pre-register for the call and access details through Myomo’s Investor Relations page. The company is known for its MyoPro product line, which aids individuals with upper-limb paralysis, promoting independence and improved daily living activities.
Myomo, Inc. (AMEX: MYO) announced preliminary revenue for Q2 2022, expected between $3.4 million and $3.6 million, reflecting a 10% to 16% increase from Q2 2021. The company achieved a record of over 400 additions to its MyoPro patient pipeline, attributing this success to enhanced marketing strategies. However, Myomo is facing delays in receiving a joint venture license payment from China due to COVID-19-related banking backlogs. Full Q2 results will be reported on August 3, 2022.
Myomo, Inc. (AMEX:MYO), a wearable medical robotics company, announced that CEO Paul Gudonis and CFO David Henry will present a business update at the Sidoti Summer Small Cap Conference on June 15, 2022, at 4:00 p.m. ET. Investors can access the presentation here. Additionally, one-on-one investor meetings will be held on June 15 and 16, 2022. A replay of the presentation will also be available.