Myomo Announces Closing of $6 Million Registered Direct Offering of Common Stock Priced At-the-Market
2024年1月20日 - 6:05AM
ビジネスワイヤ(英語)
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 that it has
closed its previously announced registered direct offering of its
common stock, priced at-the-market with certain new and existing
institutional investors as well as certain insiders of the Company,
for the purchase and sale of 1,578,948 shares of common stock (or
common stock equivalents in lieu thereof) at a purchase price of
$3.80 per share, which was the closing price of the Company’s
common stock traded on the NYSE American on January 16, 2024,
resulting in total gross proceeds of approximately $6.0 million
before deducting placement agent commissions and other offering
expenses.
The Company intends to use the net proceeds from the offering to
scale up operations to serve Medicare Part B patients now that the
Centers for Medicare and Medicaid Services (“CMS”) has established
coverage and proposed pricing for the MyoPro product line. This
includes the hiring of approximately 50 people over the next six
months to increase its clinical, reimbursement and manufacturing
capacity to serve this anticipated increased volume from Medicare
Part B beneficiaries and for general corporate purposes, which may
include working capital for purchases of inventory, capital
expenditures, research and development expenses and sales and
marketing activities.
A.G.P./Alliance Global Partners acted as the sole placement
agent for the offering.
The securities described above were offered pursuant to an
effective shelf registration statement on Form S-3 (File No.
333-256159) previously filed with the U.S. Securities and Exchange
Commission (the “SEC”). The offering is made only by means of a
prospectus supplement and accompanying prospectus, which has been
filed with the SEC and is available on the SEC’s website located at
http://www.sec.gov. Electronic copies of the prospectus supplement
may be obtained, when available, from A.G.P./Alliance Global
Partners, 590 Madison Avenue, 28th Floor, New York, NY 10022, or by
telephone at (212) 624-2060, or by email at
prospectus@allianceg.com.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy nor shall there be any sale of
these securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction.
About Myomo, Inc.
Myomo, Inc. is a wearable medical robotics company that offers
improved arm and hand function 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 Boston, Massachusetts, with sales
and clinical professionals across the U.S and representatives
internationally. 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, including the expected
use of proceeds from this offering, 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.
These factors include, among other things:
- We have a history of operating losses and our financial
statements for the period ended September 30, 2023 include
disclosures regarding there being substantial doubt about our
ability to continue as a going concern;
- our ability to achieve reimbursement from third-party payers
for our products, including CMS for Medicare Part B patients;
- our ability to continue to serve patients with Medicare
Advantage insurance plans CMS does not cover the MyoPro;
- our revenue concentration with a particular insurance payer as
a result of focusing our efforts on patients with insurers who have
previously reimbursed for the MyoPro;
- our ability to continue normal operations and patient
interactions without supply chain disruption in order to deliver
and fit our custom-fabricated device;
- our marketing and commercialization efforts;
- our dependence upon external sources for the financing of our
operations, to the extent that we do not achieve or maintain cash
flow breakeven;
- our ability to effectively execute our business plan and scale
up our operations;
- our expectations as to our product development programs;
and
- general market, economic, environmental and social factors that
may affect the evaluation, fitting, delivery and sale of our
products to patients.
More information about these and other factors that potentially
could affect our financial results is included in Myomo’s filings
with the SEC, including those contained in the risk factors section
of the Company’s annual report on Form 10-K, quarterly reports on
Form 10-Q and other filings with the SEC. The Company cautions
readers not to place undue reliance on any such forward-looking
statements, which speak only as of the date made. Although the
forward-looking statements in this release of financial information
are based on our beliefs, assumptions and expectations, taking into
account all information currently available to us, we cannot
guarantee future transactions, results, performance, achievements
or outcomes. No assurance can be made to any investor by anyone
that the expectations reflected in our forward-looking statements
will be attained, or that deviations from them will not be material
and adverse. 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/20240119356546/en/
Myomo: ir@myomo.com
Investor Relations: Kim Sutton Golodetz LHA Investor Relations
212-838-3777 kgolodetz@lhai.com
Myomo (AMEX:MYO)
過去 株価チャート
から 5 2024 まで 6 2024
Myomo (AMEX:MYO)
過去 株価チャート
から 6 2023 まで 6 2024