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Myomo, Inc. (MYO), a wearable medical robotics company, designs, develops, and produces myoelectric orthotics for people with neuromuscular disorders in the United States, Germany, China, and internationally.
The company offers MyoPro, a myoelectric-controlled upper limb brace or orthosis product used for supporting a patient's weak or paralyzed arm to enable and improve functional activities of daily living.
Its products are designed to help improve function in adults and adolescents with neuromuscular conditions due to brachial plexus injury, stroke, traumatic brain injury, spinal cord injury, and other neurological disorders.
The company sells its products to orthotics and prosthetics providers, the Veterans Health Administration, rehabilitation hospitals and surgery centers, as well as through distributors.
Myomo, Inc. was incorporated in 2004 and is headquartered in Boston, Massachusetts.
Myomo reported a loss of $0.06 per share on revenue of $5.08 million for the third quarter ended September 2023. The consensus estimate was a loss of $0.08 per share on revenue of $4.15 million. The company beat consensus estimates by 25.00% while revenue grew 28.02% on a year-over-year basis.
After the announcement of $6 million shares of common stock priced at-market price to be sold and closeod within two days, shares should head higher.
Entry Point: $3.90
Trading Range: $0.37 - $5.58
Stop Loss: $3.70
Target Price: $4.30
