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. (NYSE American: MYO) is a wearable medical robotics company whose news flow centers on its MyoPro myoelectric orthosis product line, financial performance and commercialization efforts. The company develops and markets powered upper-limb orthoses designed to support the arm and restore function to weakened or paralyzed arms in patients with neurological disorders and neuromuscular injuries.
News about Myomo frequently includes quarterly financial and operating results, where the company reports revenue, gross margin, operating expenses, net loss and non-GAAP metrics such as Adjusted EBITDA. These updates also describe operating metrics such as MyoPro revenue units, orders and insurance authorizations, patient pipeline size, backlog and the proportion of revenue associated with Medicare Part B patients.
Investors following MYO can also expect announcements about product developments, such as the launch of the MyoPro 2x, which Myomo characterizes as a major step forward in donning, fit and function for users. Additional news items cover marketing and commercialization initiatives, including engagement with orthotics and prosthetics providers, training of Certified Prosthetists Orthotists, and programs like MyoConnect that are intended to generate recurring patient referrals from therapists and physicians.
Myomo’s news releases may also highlight capital markets and corporate events, including participation in investor conferences, Investor & Analyst Day presentations, and financing arrangements such as loan facilities documented in Form 8-K filings. For readers tracking MYO, this news page aggregates company-issued press releases and related updates, providing a single location to review Myomo’s reported progress on its business model, product line and financial performance over time.
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.
Myomo reported a 66% increase in total revenue for Q1 2022, reaching $3.9 million, driven by a 23% rise in product revenue to $2.9 million. The company achieved a gross margin of 66.7%, despite a decline from the previous year due to increased deliveries and costs. The backlog of units awaiting insurance authorization rose by 36% to 160 units. Myomo's pipeline now includes 924 MyoPro candidates, reflecting a 62% increase from Q4 2021. Looking ahead, Myomo anticipates continued growth in product revenues for the year.
Myomo, Inc. (NYSE American: MYO) will announce its financial results for the three months ended March 31, 2022 on May 11, 2022, after market close. The Company will host a conference call at 4:30 p.m. ET the same day, featuring comments from CEO Paul R. Gudonis and CFO David Henry. Participants can pre-register for the call for expedited access. Myomo focuses on wearable medical robotics that enhances functionality for patients with upper-limb paralysis, particularly through its MyoPro product line.
Myomo, Inc. (NYSE American: MYO) has provided an update regarding its joint venture in China, confirming receipt of a $1.0 million technology license fee from Jiangxi Myomo Medical Assistive Appliance Co. Ltd. This fee is part of a total license fee of $2.7 million and will contribute to the Company’s first quarter revenue, alongside product revenue projected between $2.6 million and $3.0 million. Myomo anticipates the remaining $1.7 million will be received in the second quarter, enabling further operations in China to aid individuals with upper-limb paralysis.
Myomo, Inc. (NYSE American: MYO), a company specializing in wearable medical robotics, is set to participate in two investor conferences in March 2022. The first event is the 34th Annual ROTH Conference from March 13-15 at The Ritz-Carlton, Laguna Niguel, CA, with a Fireside Chat on March 14 at 2:00 p.m. PT. The second is the Oppenheimer’s 32nd Annual Healthcare Conference on March 15-16, featuring a presentation on March 16 at 2:00 p.m. ET. Myomo’s product line, MyoPro, assists those with upper-limb paralysis to regain functionality.
Myomo reported Q4 2021 revenue of $4.0 million, a 6% increase year-over-year, and full-year revenue of $13.9 million, up 83% from 2020. Gross margin improved to 77.4%, up 400 basis points year-over-year. Despite this, operating loss increased to $2.7 million in Q4 and net loss for the quarter was $3.4 million, or $0.52 per share. The cash position was strong at $15.5 million, adequately funding operations for at least the next 12 months. Myomo anticipates product revenue between $2.6 million to $3.0 million in Q1 2022.
Myomo, Inc. (NYSE American: MYO) will report its financial results for the fiscal year ending December 31, 2021, on March 9, 2022, after market close. A conference call will follow at 4:30 p.m. ET on the same day, featuring remarks from CEO Paul R. Gudonis and CFO David Henry. Interested participants can pre-register for the call or access it via dial-in. Myomo specializes in wearable medical robotics, particularly the MyoPro product line, which aids individuals with upper limb paralysis. For more details, visit Myomo’s Investor Relations page.
Myomo, Inc. (NYSE American: MYO) has announced the issuance of a new patent for its MyoPro device by the Japanese Patent Office, bringing the total to 20 patents globally. This patent covers a powered orthotic device designed to assist users with upper-limb paralysis, allowing for voluntary movement control using electromyographic and inertial sensors. The company aims to leverage this patent for future business ventures in Japan, reflecting ongoing efforts to expand its global patent portfolio and enhance its position in the medical robotics market.
Myomo, Inc. (NYSE American: MYO) announced new research demonstrating statistically significant improvements in motor function among stroke and traumatic brain injury patients using the MyoPro orthosis. Funded by the U.S. Army Medical Research Acquisition Activity, the study published in Frontiers in Neurology followed 13 individuals and showed improvements across several metrics, including a +7.5 point gain on the Fugl-Meyer scale. These results support expanding reimbursement coverage in the U.S. and Germany, reflecting the therapeutic value of MyoPro.