myomo

[Image courtesy of Myomo]Myomo (NYSE:MYO) announced today that it priced a public offering of 20 million shares of common stock at $0.325 per share.

Boston-based Myomo expects aggregate gross proceeds to total approximately $6.5 million. That comes before deducting placement agent fees and other offering expenses.

The company expects the offering to close on or about Jan. 17, 2023, subject to customary closing conditions. It earmarked net proceeds for working capital and general corporate purposes. Myomo said it anticipates participation from management, affiliated investors and certain healthcare-focused investors.

A.G.P./Alliance Global Partners is acting as the sole placement agent for the offering, according to a news release.

Myomo develops medical robotic technologies. Its wearable robotics improve arm and hand function for those with neurological disorders and upper-limb paralysis.

The company designed its MyoPro upper-limb orthosis pro…

[Image courtesy of Myomo]Myomo (NYSE:MYO) announced today that it priced a public offering of 20 million shares of common stock at $0.325 per share.

Boston-based Myomo expects aggregate gross proceeds to total approximately $6.5 million. That comes before deducting placement agent fees and other offering expenses.

The company expects the offering to close on or about Jan. 17, 2023, subject to customary closing conditions. It earmarked net proceeds for working capital and general corporate purposes. Myomo said it anticipates participation from management, affiliated investors and certain healthcare-focused investors.

A.G.P./Alliance Global Partners is acting as the sole placement agent for the offering, according to a news release.

Myomo develops medical robotic technologies. Its wearable robotics improve arm and hand function for those with neurological disorders and upper-limb paralysis.

The company designed its MyoPro upper-limb orthosis pro…

Myomo (NYSE:MYO) shares were down this morning on fourth-quarter results that were mixed compared to the consensus forecast.

The Boston-based medical robotics company posted losses of $2.7 million, or 52¢ per share, on sales of $4 million for the three months ended Dec. 31, 2021, for a bottom-line slide deeper into the red on sales growth of 6.4%.

Myomo’s losses per share of 52¢ came in 3¢ behind expectations on Wall Street, although the company’s revenues topped the consensus forecast by 34.4%.

“We are pleased to report year-over-year revenue growth for the fourth quarter as we resolved supply chain capacity issues and successfully obtained payments from a large insurance payer that had begun to deny pre-authorized claims after the MyoPros had been delivered,” Myomo Chairperson and CEO Paul R. Gudonis said in a news release. “In 2022, we moved fabrication in-house and are now shipping our first MyoPro2+ units. We continue to appeal new…

Myomo (NYSE:MYO) announced today that new research demonstrated benefits with its MyoPro myolectric orthosis.

Results from the study, funded by the U.S. Army Medical Research Acquisition Activity, and supported by the Office of Secretary of Defense for Health Affairs, were published in the peer-reviewed journal Frontiers in Neurology. Data showed “statistically significant improvements” in a number of motor function measurements.

The study observed 13 individuals with chronic moderate-to-severe arm weakness from stroke or traumatic brain injury, with outcomes collected through in-therapy sessions and at-home use, according to a news release. Dr. Svetlana Pundik, the lead investigator and grant recipient, along with colleagues at the Louis Stokes Cleveland Veterans Administration Medical Center, conducted the study.

Authors stated that gains were seen at week three, increased further during the in-clinic phase and were maintained during the at…

Myomo (NYSE:MYO) shares got a big boost after hours today on third-quarter results that came in ahead of the consensus forecast.

MYO shares were up 10.9% at $11.52 per share after hours. MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — closed the day down 0.9%.

The Boston-based medical robotics company posted losses of $2.1 million, or 36¢ per share, on sales of $4.4 million for the three months ended Sept. 30, 2021, for a 25.9% bottom-line gain having more than doubled its sales numbers from the third quarter of 2020.

Myomo’s losses per share of 36¢ came in 10¢ ahead of Wall Street, where analysts were looking for sales of $3.2 million.

“We are proud to be reporting both the highest quarterly revenue and the highest direct billing channel revenue in the Company’s history,” Myomo Chairman & CEO Paul R. Gudonis said in a news release. “These achievements demon…

Myomo (NYSE:MYO) posted second-quarter results this week that beat the overall consensus on Wall Street.

The Boston-based company reported losses of -$2.6 million, or -46¢ per share, on sales of $3.1 million for the three months ended June 30, for a sales growth of 261.56% compared with Q2 2020.

Earnings per share were -46¢, 14¢ ahead of The Street, where analysts were looking for sales of $2.1 million.

“We are pleased to be reporting sustained momentum with our efforts to expand the number of individuals who receive a MyoPro through our direct-to-consumer marketing and our own clinical services channel,” CEO Paul Gudonis said in a news release. “A growing number of physicians are prescribing the MyoPro for their patients, and we obtained a record number of insurance authorizations and orders during the second quarter. We are also experiencing an acceleration of the revenue cycle as a growing number of units are regularly reimbursed by certain insurance …