Associated tags: CVA, Patient, Stroke, EMG, Arm, Brachial plexus injury, Neuromuscular disease, DSM-IV codes, ALS, Health, Medical Devices, General Health, NYSE, Robotics, MYO, Neurology, Medicare, Wearables, Mobile Technology, Health Technology, Pharmaceutical industry, PIN, International, Other Health, Webcast
Locations: UNITED STATES, NORTH AMERICA, MASSACHUSETTS, CANADA
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GAAP Myomo recognized revenue on 91 MyoPro units in the first quarter of 2024, up 14% compared with the same quarter a year ago.
Key Points:
- Myomo recognized revenue on 91 MyoPro units in the first quarter of 2024, up 14% compared with the same quarter a year ago.
- Gross margin for the first quarter of 2024 was 61.2%, compared with 67.0% for the first quarter of 2023.
- Operating expenses for the first quarter of 2024 were $6.2 million, an increase of 24% compared with the first quarter of 2023.
- Adjusted EBITDA for the first quarter of 2024 was $(3.5) million, compared with $(2.5) million for the first quarter of 2023.
Robotics,
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Health insurance The amounts paid were based on the fees published by CMS for the Company's Healthcare Common Procedures Coding System (“HCPCS”) codes L8701 and L8702, which became effective on April 1, 2024.
Key Points:
- The amounts paid were based on the fees published by CMS for the Company's Healthcare Common Procedures Coding System (“HCPCS”) codes L8701 and L8702, which became effective on April 1, 2024.
- All four regional DME MAC's have remitted lump sum reimbursements, and payments have been received for a number of patients of the Company and O&P providers based on the published fee schedule.
- “We’re pleased to see that lump sum payments have been approved from all four billing regions so that Medicare beneficiaries also have equitable access to this life-changing technology,” stated Paul R. Gudonis, Myomo’s Chairman and CEO.
- “We are also gratified by the interest we are seeing from clinical providers in the orthotics and prosthetics industry since one of our MyoPro Centers of Excellence providers had its first claim paid by Medicare.
Robotics,
Medical Devices,
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DSM-IV codes,
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MYO,
Webcast,
PIN Myomo, Inc. (NYSE American: MYO) (“Myomo” or the “Company”), a wearable medical robotics company that offers increased functionality for those suffering from neurological disorders and upper-limb paralysis, today announced that it will report financial results for the first quarter ended March 31, 2024 on May 8, 2024.
Key Points:
- Myomo, Inc. (NYSE American: MYO) (“Myomo” or the “Company”), a wearable medical robotics company that offers increased functionality for those suffering from neurological disorders and upper-limb paralysis, today announced that it will report financial results for the first quarter ended March 31, 2024 on May 8, 2024.
- The Company will host a conference call the same day, Wednesday May 8, 2024 at 4:30 p.m.
- ET with prepared remarks by Paul R. Gudonis, chairman and chief executive officer, and David Henry, chief financial officer.
- A replay of the webcast will be available beginning approximately one hour after the completion of the live conference call at https://ir.myomo.com/ .
Robotics,
Health,
Technology,
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General Health,
Wearables,
Mobile Technology,
PICPA,
Villanova University,
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NACD,
National Investor Relations Institute,
Growth,
Biotelemetry,
Business administration,
Strategic planning,
NIRI,
American Institute,
Master of Business Administration,
DSM-IV codes,
Butterfly network,
National Association,
MYO,
Certified Public Accountant,
Management Ms. Getz brings more than 25 years of corporate experience creating long-term value through financial, general management, and healthcare leadership.
Key Points:
- Ms. Getz brings more than 25 years of corporate experience creating long-term value through financial, general management, and healthcare leadership.
- “We welcome Heather to the Myomo board of directors,” said Paul R. Gudonis, chairman and chief executive officer of Myomo.
- "She brings financial and operational experience in scaling medical device and technology companies, which will be valuable to the board of directors as Myomo accelerates its growth."
- “I am excited to join the Myomo board at such a pivotal time in the company’s history.
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Video game Myomo recognized revenue on 107 MyoPro units in the fourth quarter of 2023, up 6% compared with the same quarter a year ago.
Key Points:
- Myomo recognized revenue on 107 MyoPro units in the fourth quarter of 2023, up 6% compared with the same quarter a year ago.
- Gross margin for the fourth quarter of 2023 was 65.3%, compared with 65.0% for the fourth quarter of 2022.
- Operating expenses for the fourth quarter of 2023 were $5.5 million, an increase of 14% compared with the fourth quarter of 2022.
- Adjusted EBITDA for the fourth quarter of 2023 was $(2.1) million, compared with $(1.9) million for the fourth quarter of 2022.
Medical Supplies,
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Brace,
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DSM-IV codes,
Pharmaceutical industry The final average fee schedule rates for the two Healthcare Common Procedures System (HCPCS) codes describing the MyoPro, L8701, our Motion W device, and L8702, our Motion G device, are $33,480.90 and $65,871.74, respectively, and can be found here beginning on page 67.
Key Points:
- The final average fee schedule rates for the two Healthcare Common Procedures System (HCPCS) codes describing the MyoPro, L8701, our Motion W device, and L8702, our Motion G device, are $33,480.90 and $65,871.74, respectively, and can be found here beginning on page 67.
- On January 1, 2024, the MyoPro was officially classified in the brace benefit category, which enables reimbursement on a lump sum basis.
- “This is an important milestone for qualified Medicare Part B beneficiaries with long-term muscular weakness or partial paralysis, and for Myomo as a company.
- We extend thanks to the personnel at CMS for their efforts and for appreciating the benefits that powered braces such as the MyoPro can provide to Medicare Part B beneficiaries. "
Retrieved on:
Thursday, February 29, 2024
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MYO,
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Webcast Myomo, Inc. (NYSE American: MYO) (“Myomo” or the “Company”), a wearable medical robotics company that offers increased functionality for those suffering from neurological disorders and upper-limb paralysis, today announced that it will report financial results for the fourth quarter and fiscal year ended December 31, 2023 on March 7, 2024.
Key Points:
- Myomo, Inc. (NYSE American: MYO) (“Myomo” or the “Company”), a wearable medical robotics company that offers increased functionality for those suffering from neurological disorders and upper-limb paralysis, today announced that it will report financial results for the fourth quarter and fiscal year ended December 31, 2023 on March 7, 2024.
- The Company will host a conference call the same day, Thursday March 7, 2024 at 4:30 p.m.
- ET with prepared remarks by Paul R. Gudonis, chairman and chief executive officer, and David Henry, chief financial officer.
- Those without internet access or unable to pre-register may dial in by calling, 1-844-707-6932 (U.S.) or 1-412-317-9250 (International).
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S-3,
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DSM-IV codes,
Security (finance) A.G.P./Alliance Global Partners acted as the sole placement agent for the offering.
Key Points:
- A.G.P./Alliance Global Partners acted as the sole placement agent for the offering.
- The securities described above were offered pursuant to an effective shelf registration statement on Form S-3 (File No.
- 333-256159) previously filed with the U.S. Securities and Exchange Commission (the “SEC”).
- The offering is made only by means of a prospectus supplement and accompanying prospectus, which has been filed with the SEC and is available on the SEC’s website located at http://www.sec.gov .
Retrieved on:
Wednesday, January 17, 2024
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Pharmaceutical industry Myomo, Inc. (NYSE American: MYO) (“Myomo” or the “Company”), a wearable medical robotics company that offers increased functionality for those suffering from neurological disorders and upper-limb paralysis, today announced preliminary revenue and operating metrics for the fourth quarter of 2023.
Key Points:
- Myomo, Inc. (NYSE American: MYO) (“Myomo” or the “Company”), a wearable medical robotics company that offers increased functionality for those suffering from neurological disorders and upper-limb paralysis, today announced preliminary revenue and operating metrics for the fourth quarter of 2023.
- Revenue for the fourth quarter of 2023 is expected to be in the range of $4.6 million to $4.8 million, an increase of 14% to 19%, compared with the same period a year ago.
- During the fourth quarter, the Company accelerated its efforts to identify and evaluate qualified Medicare Part B patients.
- The Company plans to report financial results for the fourth quarter and year ended December 31, 2023 before March 15, 2024.
Retrieved on:
Wednesday, January 17, 2024
General Health,
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CMS,
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DSM-IV codes The closing of the offering is expected to occur on or about January 19, 2024, subject to the satisfaction of customary closing conditions.
Key Points:
- The closing of the offering is expected to occur on or about January 19, 2024, subject to the satisfaction of customary closing conditions.
- The Company intends to use the net proceeds from the offering to scale up operations to serve Medicare Part B patients now that CMS has established coverage and proposed pricing for the MyoPro product line.
- A.G.P./Alliance Global Partners is acting as the sole placement agent for the offering.
- This offering is being made pursuant to an effective shelf registration statement on Form S-3 (File No.
