Myomo rises on Street-beating Q4

Myomo (NYSE:MYO) shares ticked up this morning on fourth-quarter results that topped the consensus forecast.

The Boston-based wearable medical robotics company posted losses of -$1.7 million, or -37¢ per share, on sales of $3.8 million for the three months ended Dec. 31, 2020, for a 38.5% bottom-line gain on revenues that were more than doubled year-over-year.

Adjusted to exclude one-time items, losses per share were also -37¢, 10¢ ahead of Wall Street, where Myomo’s revenues beat projections by 14.5%.

“Fourth-quarter revenue was not only a record, it also was equivalent to our full-year 2019 revenue. This is a testament to the adaptability and execution of our team in light of the challenges presented by the COVID-19 pandemic,” Myomo chairman & CEO Paul R. Gudonis said in a news release. “The strategic shift to direct billing implemented in late 2019 is supporting both revenue growth and margin improvement.”

Myomo did not offer specific…

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Myomo launches MyoCare

Myomo (NYSE:MYO) announced today that it launched its MyoCare program for providing support to first-year users of its MyoPro powered brace.

MyoCare offers expanded support to current and future clients who receive their MyoPro directly from the Cambridge, Mass.-based company, at no additional cost. Anyone who obtained the MyoPro from an authorized orthotics & prosthetics clinic will receive support from the clinic, according to a news release.

MyoPro is a powered upper-limb orthosis designed to support the arm and restore function to weakened or paralyzed arms in people suffering from CVA stroke, brachial plexus injury, traumatic brain or spinal cord injury, ALS or other neuromuscular disease or injury.

The company touts MyoPro as the only marketed device that currently senses a patient’s own EMG signals through non-invasive sensors on the arm to restore the ability to perform daily activities.

“We have so many satisfied clients because…

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