Myomo, Inc. Issues May 2018 Shareholder Letter
May 10 2018 - 8:00AM
Business Wire
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 issued a letter to shareholders to give
an update on first quarter 2018 and ongoing MyoPro® commercial
activities.
An accompanying digital shareholder letter can be viewed:
Shareholder Letter 1Q18
Dear Fellow Shareholders:
Welcome to the third edition of our Investor Relations digital
shareholder letter as we continue to keep you informed about
Myomo's progress.
We are deploying our growth capital into four initiatives for
revenue growth: (1) increased sales and marketing; (2) new product
development; (3) clinical studies and reimbursement support; and
(4) international expansion.
At the end of the first quarter, we see a growing number of
potential MyoPro users interested in obtaining a device and a
larger number of clinicians who are referring patients to our
O&P partners. Therefore, we reaffirm our expectations for 2018
revenue growth to exceed year ago reported levels.
And in recent months, we have hired additional field sales and
clinical support staff, established additional MyoPro Centers of
Excellence to expand the number of locations that distribute our
products; and initiated an active program of new Marketing
activities, such as free patient screening days in collaboration
with our clinical partners to evaluate patients for the MyoPro.
We are on target with our initiatives to serve the large, unmet
market need for upper limb paralysis. With MyoPro as the only
commercially available orthotic device for the arm and hand, our
objective is to become the standard of care to address this
need.
Thank you for your investment in MYO shares. We appreciate 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 wearable 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.
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version on businesswire.com: https://www.businesswire.com/news/home/20180510005252/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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