CAMBRIDGE, Mass.--(BUSINESS WIRE)--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.
Paul R. Gudonis
Chairman & Chief Executive Officer
Myomo, 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 Statements
This 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.