Item 2.02. Results of Operations and Financial Condition.
On February 7, 2019, Myomo, Inc. (we or the Company) issued a press release announcing the commencement of an offering of
shares of its common stock (the Offering). In connection with the Offering, the Company filed a preliminary prospectus supplement to the base prospectus included in the Companys shelf registration statement on
Form S-3
(No. 333-226045),
filed with the SEC on July 2, 2018 and declared effective by the SEC on July 16, 2018.
In the preliminary prospectus supplement, we announced that our cash, cash equivalents and short-term investments was approximately $6.5 million at
December 31, 2018, as compared to $13.0 million and $9.1 million at December 31, 2017 and September 30, 2018, respectively. In addition, we estimate that, for the three months and year ended December 31, 2018, total revenues
were $0.9 million and $2.4 million, respectively. In addition, we estimate that as of December 31, 2018, we had 306 MyoPro units in the reimbursement process, after adding 139 units in the fourth quarter of 2018.
This financial data as of and for the three months and year ended December 31, 2018 is preliminary and may change, and is based on information available
to management as of the date of the preliminary prospectus supplement and is subject to completion by management of our financial statements as of and for the year ended December 31, 2018. We have provided estimates for preliminary revenues
described above primarily because our financial closing procedures for the year ended December 31, 2018 are not yet complete. There can be no assurance that our final results of operations for this period or cash position as of
December 31, 2018 will not differ from these estimates, including adjustments as a result of the customary
year-end
review process and any such changes could be material. The preliminary results of
operations for the year ended December 31, 2018 are not necessarily indicative of the results to be achieved for any future period.
Our independent
registered public accountants have not audited, reviewed or performed any procedures with respect to such preliminary financial data and accordingly do not express an opinion or any other form of assurance with respect thereto. These results could
change as a result of further review. Complete quarterly results will be announced during our full year financial results conference call and included in our Annual Report on Form
10-K
for the year ended
December 31, 2018.
The information set forth in this Item 2.02 shall not be deemed filed for purposes of Section 18 of the
Securities Exchange Act of 1934, as amended (the Exchange Act), or otherwise subject to the liabilities of that section, nor shall it be incorporated by reference in any filing under the Securities Act of 1933, as amended, or the
Exchange Act, except as expressly set forth by specific reference in such a filing.