Myomo gains on restarting device deliveries
22/06/2020 12:32
** Shares of medical device maker MYO.A up 13.8% at $4.28
premarket
** MYO says it has resumed in-person patient visits for
casting, fitting and delivering its MyoPro device as states
reopen after COVID-19 shutdowns urn:newsml:reuters.com:*:nBw4hNLfMa
** "We built a significant backlog of more than 100 devices
authorized by insurance... The bottleneck is opening up and some
deliveries were completed during the past few weeks" - CEO
** Company's device supports the arm and restores function
in weakened or paralysed arms of patients suffering from stroke,
injury or neuromuscular disease
** Says Q2 revenue is expected to be $0.6 mln-$0.7 mln,
higher than est. of $0.4 mln - Refinitiv data
** Stock down 58% YTD, as of last close
(Reporting by Taru Jain)
((taru.jain@thomsonreuters.com))