SeeThruEquity has updated its coverage and maintained its price target of $9.35 on shares of Myomo, Inc.’s (NYSE: MYO) stock following the company’s recent report of financial results for the three and six months ended June 30, 2017. The analyst noted the company’s recent progress, such as the growth capital raise of $8 million as well as the newly-secured CE Mark approval for the commercial sale of its next generation MyoPro® myoelectric arm orthosis in Europe. Since receiving CE Mark approval, the company plans to target Europe, starting with Germany through its sales partnership with Ottobock.
For more information, visit www.Myomo.com
About Myomo
Myomo, Inc. is a commercial stage medical robotics company that offers expanded mobility for those suffering from neurological disorders and upper limb paralysis. Based on patented technology developed at MIT and the company, Myomo develops and markets the MyoPro® product line of lightweight, non-invasive, powered arm braces to restore function in the paralyzed or weakened arms and hands of individuals that have suffered a stroke, spinal cord or nerve injury such as brachial plexus injury, or other neuromuscular disability such as amyotrophic lateral sclerosis (ALS) or multiple sclerosis (MS). It is provided through clinical relationships with VA medical centers, leading rehabilitation hospitals, and Orthotics and Prosthetics (“O&P”) practices. Several hundred have been successfully used by patients. It is the only device that, sensing a patient’s own neurological signals through non-invasive sensors on the arm, can restore their ability to use their arms and hands so that they can 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.
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