Myomo to raise $6M with eyes on Medicare coverage

Myomo announced today that it entered into securities purchase agreements worth approximately $6 million. The company entered into agreements with certain new and existing institutional investors, plus insiders at Myomo. This agreement includes nearly 1.6 million shares of common stock priced at $3.80 per share. In conjunction with the offering, Myomo disclosed that it expects existing cash plus proceeds to help achieve cash flow breakeven on a quarterly basis. The company anticipates realizing this by the fourth quarter of 2024. Read more >>