Myomo, Inc. Issues March 2018 Shareholder Letter
March 08 2018 - 8:00AM
Business Wire
Provides an Update on Fourth Quarter 2017 and
Ongoing Commercial Activities
Myomo, Inc. (NYSE American: MYO) (“Myomo” or the “Company”), a
commercial stage medical robotics company, today issued a letter to
shareholders to give an update on fourth quarter 2017 and ongoing
MyoPro® commercial activities.
An accompanying digital shareholder letter can be viewed:
http://shareholderletters.myomo.com/q4-17.
Dear Fellow Shareholders:
Welcome to the second edition of our Investor Relations digital
shareholder letter as we continue to keep you informed about
Myomo's progress.
We are very pleased to end 2017 on solid ground, with a
strengthened balance sheet to help propel us to our next stage of
growth, as we move from our controlled launch phase to commercial
scale up. Following our June 2017 IPO and concurrent private
placement, we added to our growth funding with a completed
follow-on offering in December. Therefore, we now have the
financial resources to execute our strategy with a disciplined
approach to expand our sales and marketing and company
infrastructure to address this large unmet need.
We continue to drive our business forward with additional MyoPro
Centers of Excellence locations to distribute our products to
patients around the country; increased Marketing activities to
highlight programs such as free patient screening days in
collaboration with our clinical partners; and opening up new
opportunities with our product development program and
international partnerships.
We are the only company with a commercialized product line, the
MyoPro powered arm braces, in the US, Europe and Canada, designed
to support the arm and restore function to the many individuals
with upper limb paralysis. It is a large market and our objective
is to become the standard of care to address this need.
Thank you for your investment in MYO shares and your support as
we grow the business and create shareholder value over time.
Sincerely;
Paul R. GudonisChairman & Chief Executive Officer
About MyomoMyomo, Inc. is a commercial stage medical
robotics company that offers expanded mobility for those suffering
from neurological disorders and upper limb paralysis. Myomo
develops and markets the MyoPro product line. MyoPro is a powered
upper limb orthosis designed to support the arm and restore
function to the weakened or paralyzed arms of patients suffering
from CVA stroke, brachial plexus injury, traumatic brain or spinal
cord injury, ALS or other neuromuscular disease or injury. It is
currently the only marketed device that, sensing a patient’s own
EMG signals through non-invasive sensors on the arm, can restore an
individual’s ability to perform activities of daily living,
including feeding themselves, carrying objects and doing household
tasks. Many are able to return to work, live independently and
reduce their cost of care. Myomo is headquartered in Cambridge,
Massachusetts, with sales and clinical professionals across the
U.S. For more information, please visit www.myomo.com.
Forward Looking StatementsThis press release contains
forward-looking statements regarding the Company's future business
expectations, which are subject to the safe harbor provisions of
the Private Securities Litigation Reform Act of 1995. These
forward-looking statements are only predictions and may differ
materially from actual results due to a variety of factors. Our
actual results could differ materially from those anticipated in
these forward looking statements for many reasons, including,
without limitation, risks related to regulatory approval and market
acceptance of our products, and the other risk factors contained in
our filings made with the Securities and Exchange Commission. More
information about factors that potentially could affect Myomo's
financial results is included in Myomo's filings with the
Securities and Exchange Commission. The Company cautions readers
not to place undue reliance on any such forward-looking statements,
which speak only as of the date made. The Company disclaims any
obligation subsequently to revise any forward-looking statements to
reflect events or circumstances after the date of such statements
or to reflect the occurrence of anticipated or unanticipated
events.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20180308005245/en/
For Myomo:ir@myomo.comorInvestor Relations:PCG
AdvisoryVivian Cervantes,
646-863-6274vivian@pcgadvisory.comorPublic
Relations:GreenoughRachel Robbins,
617-275-6521rrobbins@greenough.biz
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