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Myomo Reports Record Third Quarter Financial and Operating Results

Wednesday, November 6, 2024 BiopharmaWatch Research 1 min read
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Key Takeaway: Myomo, Inc. reported record financial results for Q3 2024, achieving $9.2 million in revenue. The company raised its full-year revenue guidance and noted 225 MyoPro authorizations with a backlog of 316 patients. Additionally, the patient pipeline expanded to 1,263 patients as of September 30, 2024.
Price reaction · baseline $4.05 (2024-11-06T16:07:00.000Z) · hit during market hours · clean, no other MYO news in the window
day 0 close · peak
+3.2%

Market Sentiment Analysis

POSITIVE FACTORS

  • Record revenue of $9.2 million reported.
  • Increased full-year revenue guidance.
  • Significant growth in MyoPro authorizations and orders.
  • Expansion of patient pipeline with 1,263 patients.

Full Press Release Details

$9.2 million in revenue, raises full-year revenue guidance
225 MyoPro® authorizations and orders with 316 patients in backlog at quarter end
645 additions to the pipeline result in 1,263 patients in the pipeline as of September 30, 2024
BOSTON (November 6, 2024) – 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 financial results for the three and nine months ended September 30, 2024. Read more .

Frequently Asked Questions

What was Myomo's revenue for Q3 2024?

Myomo reported a revenue of $9.2 million for Q3 2024.

How many MyoPro authorizations were reported?

There were 225 MyoPro authorizations reported for the quarter.

What is the current patient pipeline for Myomo?

As of September 30, 2024, Myomo has 1,263 patients in its pipeline.

Did Myomo raise its revenue guidance?

Yes, Myomo raised its full-year revenue guidance following strong results.

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Tags: MYO Viatris Investor Conferences Healthcare Myomo MyoPro financial results revenue guidance neurological disorders
Last updated: Nov 6, 2024

Biotech snapshot

Cash runway
$13M liquidity · $1M/mo burn
~20 mo
Low dilution risk