MYO on NYSE

MYOMO, INC.

In its 2026 annual report the company says: “We are a wearable medical robotics company that offers functional improvement for those with neuromuscular disorders and upper limb paralysis. We develop and market the MyoPro product line. It is custom-fabricated by trained professionals during a custom fabrication process for each individual user to meet their specific needs.”5 It is headquartered in Cambridge, United States.2

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Last updated Oct 20, 2026.

Overview

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  • TickerMYO on NYSE2
  • IndustryOrthopedic, Prosthetic & Surgical Appliances & Supplies2
  • HeadquartersCambridge, United States2
  • Incorporated inDE3
  • Business address137 Portland Street, 4Th Floor, Boston, Ma 021143
  • Filer categoryNon-accelerated filer, Smaller reporting company3
  • Legal formCorporation2
  • LEI549300G63SSKC2EGLN412
  • StatusActive2
  • LEI statusLapsed (not renewed)2
  • Registered addressC/O The Corporation Trust Company, 19801 Wilmington, United States2
  • Registered withDivision of Corporations, Department of State, 38409452

We are a wearable medical robotics company that offers functional improvement for those with neuromuscular disorders and upper limb paralysis. We develop and market the MyoPro product line. A MyoPro is a myoelectric-controlled upper limb brace, or orthosis. The orthosis is a rigid brace used for the purpose of supporting a patient’s weak or paralyzed arm to enable and help improve functional activities of daily living, or ADLs, in the home and community. It is custom-fabricated by trained professionals during a custom fabrication process for each individual user to meet their specific needs. Our products are designed to help improve function in adults and adolescents with neuromuscular conditions due to brachial plexus injury, stroke, traumatic brain injury, spinal cord injury and other neurological disorders. We primarily provide devices directly to patients and bill their insurance com…5 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

65.7%Gross margin6
-35.2%Operating margin6
-38.1%Net margin6
25.7%Revenue growth, 20256
-136.6%Return on equity6
0.98×Debt to equity6
-$16.3MFree cash flow6

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Cost of revenue34¢$14.0M
  • Research and development17¢$6.9M
  • Other costs47¢$19.4M
  • Income tax1¢$504.5K

Out of $40.9M in revenue.6 The company lost money this year.

Financial statements

Revenue78910116$40.9M in 2025+966% since 2019
0$20.0M$40.0M$60.0M2019: $3.8M$3.8M20192020: $7.6M$7.6M2020+98%2021: $13.9M$13.9M2021+83%2022: $15.6M$15.6M2022+12%2023: $19.2M$19.2M2023+24%2024: $32.6M$32.6M2024+69%2025: $40.9M$40.9M2025+26%
Gross profit78910116$26.9M in 2025+1012% since 2019
0$10.0M$20.0M$30.0M2019: $2.4M$2.4M20192020: $5.0M$5.0M2020+106%2021: $10.3M$10.3M2021+107%2022: $10.3M$10.3M2022−1%2023: $13.2M$13.2M2023+29%2024: $23.2M$23.2M2024+76%2025: $26.9M$26.9M2025+16%
Operating income78910116-$14.4M in 2025+33% since 2019
-$15.0M-$10.0M-$5.0M02019: -$10.8M-$10.8M20192020: -$10.5M-$10.5M2020−3%2021: -$10.3M-$10.3M2021−2%2022: -$10.7M-$10.7M2022+4%2023: -$8.2M-$8.2M2023−23%2024: -$6.2M-$6.2M2024−25%2025: -$14.4M-$14.4M2025+132%
Net income78910116-$15.6M in 2025+45% since 2019
-$20.0M-$15.0M-$10.0M-$5.0M02019: -$10.7M-$10.7M20192020: -$11.6M-$11.6M2020+8%2021: -$10.4M-$10.4M2021−10%2022: -$10.7M-$10.7M2022+3%2023: -$8.1M-$8.1M2023−24%2024: -$6.2M-$6.2M2024−24%2025: -$15.6M-$15.6M2025+152%

Every line of the income statement as filed: the last 2 fiscal years, latest first.6

Period ending2025-12-312024-12-31
Revenue$40.9M$32.6M
Cost of revenue$14.0M$9.4M
Gross profit$26.9M$23.2M
Research and development$6.9M$4.8M
Selling, clinical, and marketing$20.4M$12.2M
General and administrative$14.0M$12.4M
Total operating expenses$41.3M$29.4M
Loss from operations-$14.4M-$6.2M
Other expense (income)$450.8K-$388.6K
Loss on equity investment$216.7K$0
Total other expense (income)$667.5K-$388.6K
Loss before income taxes-$15.1M-$5.8M
Income tax expense$504.5K$365.6K
Net loss-$15.6M-$6.2M
Basic41.9M shares37.8M shares
Diluted41.9M shares37.8M shares
Basic-$0.37-$0.16
Diluted-$0.37-$0.16

Compare MYOMO, INC. with another company

Corporate structure

MYOMO, INC. sits at the top of its group. 2 entities, 2 countries on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of MYOMO, INC.

  • Rosalind Advisors, Inc. Filed SCHEDULE 13G/A on MYOMO, INC., latest Aug 12, 2026 (14 filings since Jan 20, 2022)
  • Horton Capital Partners, LLC Filed SCHEDULE 13D/A on MYOMO, INC., latest May 18, 2026 (2 filings since Dec 29, 2025)
  • Orin Hirschman Filed SCHEDULE 13G/A on MYOMO, INC., latest Nov 10, 2025 (8 filings since Oct 6, 2021)
  • Triple Gate Partners, LP Filed SC 13G/A on MYOMO, INC., latest Jun 4, 2024 (2 filings since Aug 31, 2023)
  • Paul Packer Filed SC 13G/A on MYOMO, INC., latest Feb 14, 2024 (2 filings since Jan 20, 2023)
  • Strategic Risk, LLC. Filed SC 13G on MYOMO, INC., latest Mar 28, 2023
  • Hewlett Fund LP Filed SC 13G/A on MYOMO, INC., latest Feb 15, 2023 (2 filings since Jan 17, 2023)
  • Must Asset Management Inc. Filed SC 13G/A on MYOMO, INC., latest Feb 7, 2023 (2 filings since May 18, 2022)
  • MYOMO, INC. Cambridge, Massachusetts, United States
    • Myomo Europe GmbH Subsidiary · Germany

Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What MYOMO, INC. reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Property and equipment, before depreciation$4.1M6 Dec 31, 2025$2.3M6 Dec 31, 2024+74.9%
Accumulated depreciation$1.9M6 Dec 31, 2025$994.9K6 Dec 31, 2024+86.4%
Property and equipment, net$2.2M6 Dec 31, 2025$1.3M6 Dec 31, 2024+66.4%
Operating-lease assets (leased space)$6.7M6 Dec 31, 2025$7.6M6 Dec 31, 2024−11.9%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$14.1M6 Dec 31, 2025$24.4M6 Dec 31, 2024−42.0%
Marketable securities, current$4.3M6 Dec 31, 2025$493.0K6 Dec 31, 2024+764.5%

Inventory

ItemLatestA year beforeChange
Inventory, total$3.1M6 Dec 31, 2025$3.2M6 Dec 31, 2024−1.4%
Work in process$28.2K6 Dec 31, 2025$60.7K6 Dec 31, 2024−53.6%
Finished goods$930.8K6 Dec 31, 2025$1.3M6 Dec 31, 2024−27.8%

Properties, in its own words

Our primary offices are located at 45 Blue Sky Drive in Burlington, Massachusetts, where we have a lease expiring in October 2032 consisting of approximately 36,200 square feet of office, manufacturing and laboratory space. We believe our facilities are currently adequate for us to conduct our business. A number of our employees work remotely from home across the United States and Germany.

Item 2 of the 10-K filed Mar 9, 2026.5

Leadership

Who has led MYOMO, INC., and when. Pick a name to see everywhere that person has worked.

Board members and other officers (16)

Subsidiaries and ownership

Subsidiaries (Exhibit 21)

  • Myomo Europe GmbH Germany4

The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.

Former names

  • MYOMO INCJun 30, 2006 to Feb 24, 20203

Timeline

  1. Aug 5, 20268-K Results of operations32
  2. Jun 29, 20268-K Executive or director change; Bylaws or fiscal year changed; Shareholder vote33
  3. Jun 26, 20268-K Executive or director change; Bylaws or fiscal year changed; Shareholder vote34
  4. May 13, 20268-K Executive or director change; Regulation FD disclosure35
  5. May 7, 20268-K Results of operations36
  6. Apr 16, 20268-K Executive or director change; Regulation FD disclosure37
  7. Mar 9, 20268-K Results of operations38
  8. Dec 16, 20258-K Executive or director change39
  9. Nov 10, 20258-K Entered a material agreement; Results of operations; New debt or obligation40
  10. Aug 11, 20258-K Results of operations41
  11. Jun 18, 20258-K Regulation FD disclosure42
  12. Jun 13, 20258-K Shareholder vote43
  13. Jun 12, 2017New chief executive Paul R. Gudonis becomes CEO14
  14. Sep 1, 2004Founded MYOMO, INC. is founded2

Calendar

Coming up

  1. Nov 9, 2026Reports results for the quarter ending Sep/2026 A year earlier it reported ($0.09) a share, on Nov 10, 2025.44

When it reported results

  1. Aug 5, 2026Reported quarterly or annual results32
  2. May 7, 2026Reported quarterly or annual results36
  3. Mar 9, 2026Reported quarterly or annual results38
  4. Nov 10, 2025Reported quarterly or annual results40
  5. Aug 11, 2025Reported quarterly or annual results41
  6. May 7, 2025Reported quarterly or annual results45
  7. Mar 10, 2025Reported quarterly or annual results46
  8. Nov 6, 2024Reported quarterly or annual results47

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

412 filings to the SEC since October 2021: 6 annual reports, 15 quarterly reports, 60 major events, 195 insider forms, 33 large holders, 103 other. The latest 20:

  1. Oct 15, 20264 EDGAR
  2. Oct 15, 20264/A EDGAR
  3. Oct 15, 20264 EDGAR
  4. Oct 15, 20264 EDGAR
  5. Oct 13, 20264 EDGAR
  6. Oct 13, 20264 EDGAR
  7. Oct 13, 2026144 EDGAR
  8. Oct 13, 20264 EDGAR
  9. Oct 13, 20263 EDGAR
  10. Oct 13, 2026S-8 EDGAR
  11. Sep 14, 20264 EDGAR
  12. Sep 11, 2026144 EDGAR
  13. Sep 4, 20264 EDGAR
  14. Sep 2, 2026144 EDGAR
  15. Aug 24, 20264/A EDGAR
  16. Aug 21, 20264 EDGAR
  17. Aug 20, 2026144 EDGAR
  18. Aug 12, 2026SCHEDULE 13G/A EDGAR
  19. Aug 11, 20264 EDGAR
  20. Aug 11, 20264 EDGAR

The 412 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

62 open-market trades by officers, directors and large owners since October 2021: 38 buys and 24 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Sep 11, 2026Kovelman HarryChief Medical OfficerSale15,488$1.27$19.7KForm 4
Sep 2, 2026Morris Milton MayoDirectorSale15,000$1.41$21.1KForm 4
Aug 20, 2026Kovelman HarryChief Medical OfficerSale17,500$1.73$30.3KForm 4
Aug 20, 2026Kovelman HarryChief Medical OfficerSale17,250$1.73$29.8KForm 4
Jun 5, 2026KIRK THOMAS FDirectorBuy40,002$1.27$50.8KForm 4
May 28, 2026KIRK THOMAS FDirectorBuy25,000$0.99$24.8KForm 4
May 28, 2026Kovelman HarryChief Medical OfficerSale11,536$1.02$11.8KForm 4
May 27, 2026Kovelman HarryChief Medical OfficerSale20,464$1.00$20.5KForm 4
May 18, 2026KIRK THOMAS FDirectorBuy43,401$0.91$39.5KForm 4
May 15, 2026Manko Joseph M. Jr.DirectorBuy30,367$0.89$27.0KForm 4
May 15, 2026KIRK THOMAS FDirectorBuy31,605$0.91$28.8KForm 4
May 14, 2026Manko Joseph M. Jr.DirectorBuy170,830$0.86$146.9KForm 4
May 14, 2026Mitchell MicahChief Commercial OfficerSale90,231$0.86$77.6KForm 4
Mar 16, 2026Getz Heather CDirectorBuy20,000$0.70$14.0KForm 4
Mar 13, 2026KIRK THOMAS FDirectorBuy72,000$0.71$51.1KForm 4
Mar 12, 2026Getz Heather CDirectorBuy70,000$0.73$51.1KForm 4
Nov 21, 2025KIRK THOMAS FDirectorBuy2,535$0.72$1.8KForm 4
Nov 20, 2025KIRK THOMAS FDirectorBuy4,902$0.72$3.5KForm 4
Nov 19, 2025Crowley Thomas Aloysius Jr.DirectorBuy385$0.77$296Form 4
Nov 18, 2025Crowley Thomas Aloysius Jr.DirectorBuy4,000$0.73$2.9KForm 4

All 62 trades can be filtered by person here when JavaScript is on.

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Executive pay

What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.

YearExecutiveAgeSalaryTotal pay
2025Paul R. Gudonis,72$375.0K$1.2M56
2025David A. Henry64$283.9K$690.2K56
2025Harry Kovelman,67$283.7K$607.8K56
2024Chief Executive Officer$348.1K$1.2M56
2024Chief Financial Officer$263.6K$784.2K56
2024Chief Medical Officer$273.7K$695.1K56

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 80. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
Rosalind Advisors, Inc.3,637,886$3.8M1.4%−209,386
Vanguard Capital Management LLC1,636,570$1.7M0.0%+492,246
Aqr Capital Management LLC928,268$965.4K0.0%+609,317
Jefferies Financial Group Inc.704,275$732.4K0.0%No change
Jane Street Group, LLC596,352$620.2K0.0%New
Clearstead Advisors, LLC425,609$442.6K0.0%+9
UBS Group AG413,679$430.2K0.0%+101,958
Geode Capital Management, LLC344,417$358.3K0.0%−514,382
LPL Financial LLC308,000$320.3K0.0%+2,000
Palumbo Wealth Management LLC299,776$311.8K0.1%New
Millennium Management LLC271,294$282.1K0.0%New
BlackRock, Inc.223,217$232.1K0.0%−1,465,173
Vanguard Fiduciary Trust Co207,677$216.0K0.0%−29,575
Bnp Paribas Financial Markets139,194$144.8K0.0%+131,048
Ieq Capital, LLC127,749$132.9K0.0%+93,910
Susquehanna International Group, Llp120,791$125.6K0.0%+82,402
XTX Topco Ltd110,028$114.4K0.0%+6,933
State Street Corp105,875$110.1K0.0%−277,316
Citadel Advisors LLC102,518$106.6K0.0%New
Goldman Sachs Group Inc94,848$98.6K0.0%−74,097
Centiva Capital, LP85,996$89.4K0.0%New
Northern Trust Corp80,609$83.8K0.0%−133,438
Qube Research & Technologies Ltd67,764$70.5K0.0%New
Stratos Wealth Partners, LTD.60,000$62.4K0.0%No change
Renaissance Technologies LLC48,500$50.4K0.0%+24,900

13F reports cover disclosed long positions in U.S. stocks only.

SEC filer profile

How MYOMO, INC. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARMYOMO, INC.1
  • CIK0001369290
  • Employer ID (EIN)47-09445265
  • Filer statusNon-accelerated filer not an emerging growth company; a smaller reporting company; not a shell company5
  • Incorporated inDelaware5
  • Fiscal year endsDecember 311
  • Industry code (SIC)3842 Orthopedic, Prosthetic & Surgical Appliances & Supplies1
  • SEC reviewing officeOffice of Industrial Applications and Services, Division of Corporation Finance1
  • Business address137 Portland Street, 4Th Floor, Boston, MA 021141
  • Phone617-996-90581
  • Shares outstanding39,607,854 as of Jul 31, 202613
  • Public float$62.4M as of Jun 30, 20255
  • AuditorCBIZ, LLP, New York, NY, USA PCAOB ID 199; no auditor attestation of internal control over financial reporting5
  • On EDGAR sinceJun 30, 20061
  • Filings693 in all: 4 (251), 8-K (111), 144 (57), 10-Q (28), SC 13G/A (26), 3 (20), 4/A (18), SC 13G (17)1
    All 48 form types

    CORRESP (16), 424B5 (12), S-1/A (12), DEF 14A (11), S-8 (11), DEFA14A (10), UPLOAD (10), 10-K (9), SCHEDULE 13G/A (8), EFFECT (6), D (5), ARS (4), PRE 14A (4), 1-A/A (3), 424B4 (3), FWP (3), S-1 (3), S-1MEF (3), S-3 (3), SD (3), 1-A POS (2), 8-K/A (2), CT ORDER (2), POS EX (2), QUALIF (2), REGDEX (2), 1-A (1), 10-K/A (1), 253G2 (1), 253G4 (1), 5 (1), 8-A12B (1), CERTNAS (1), D/A (1), DOS (1), DRS (1), REGDEX/A (1), S-3/A (1), SCHEDULE 13D (1), SCHEDULE 13D/A (1)

  • Latest filingsAnnual report (10-K) Mar 9, 2026
    Quarterly report (10-Q) Aug 5, 2026
    Proxy statement (DEF 14A) May 14, 2026
    Latest 8-K (8-K) Aug 5, 2026

Securities registered for trading

ClassSymbolExchange
Common Stock, $0.0001 par value per shareMYONYSE American

From the cover page of the 10-K filed Mar 9, 2026 (Section 12(b) of the Exchange Act).5

Risk factors and legal proceedings

The risks MYOMO, INC. names in Item 1A of its 10-K filed Mar 9, 2026: 56 risks under these headings, as written.5

  • making an investment decision. The risks described below are not the only ones we face. Additional risks not presently known to us or that we currently believe are not material may also significantly impair our business operations. Our business could be harmed by any of these risks. The trading price of our common stock could decline due to any of these risks, and investors may lose all or part of their investment.
  • Risks Associated with Our Business
  • Risks Related to Our Operating and Financial Results
  • We have a history of operating losses. Investments in advertising, R&D and clinical, reimbursement and manufacturing capacity could result in a delay in our ability to achieve cash flow breakeven on a quarterly basis.
  • Our direct billing revenues are concentrated with a small number of payers, including CMS. Adverse changes in the reimbursement policies of these payers regarding the MyoPro could have an adverse effect on our business.
  • We may experience significant fluctuations in our quarterly and annual results.
  • Continued inflation may materially impact our financial operations or results of operations.
  • Significant political, trade, regulatory developments, and other circumstances beyond our control, could have a material adverse effect on our financial condition or results of operations.
  • Risks related to our Reliance on Third Parties
  • We may not be able to obtain third-party payer reimbursement, including reimbursement by Medicare, for our products.
  • If CMS amends, restricts, or retracts coverage requirements, its billing contractors and insurers offering Medicare Advantage insurance plans may restrict what they reimburse for the MyoPro, which would have an adverse effect on our business.
  • Changes made by direct to consumer advertising platforms (such as social media) in how they reach prospective patients could adversely impact our lead generation efforts, resulting in higher advertising cost per addition to our patient pipeline and have an adverse effect on revenues.
The other 47 risks
  • We currently rely, and in the future will rely, on sales of our MyoPro products for our revenue, and we may not be able to expand market acceptance or grow revenues in the orthotics and prosthetics channel.
  • We depend on a single third-party to manufacture key subassemblies for the MyoPro and a limited number of third-party suppliers for certain components of the MyoPro.
  • Risks Related to Capital Requirements
  • We may not have sufficient funds to meet our future capital requirements.
  • The terms of our Loan and Security Agreement with Avenue require us to meet certain operating covenants and place restrictions on our operating and financial flexibility. Our level of indebtedness and debt service obligations could adversely affect our financial condition and may make it more difficult for us to fund our operations.
  • If we raise additional capital through debt financing, the terms of any new debt could further restrict our ability to operate our business.
  • Risks Related to Competitors and Our Market
  • The industries in which we operate are highly competitive and subject to rapid technological change. The publishing of fees for the HCPCS billing codes for our products may attract competition. If our competitors are better able to develop and market products that are safer, more effective, less costly, easier to use, or are otherwise more attractive, we may be unable to compete effectively with other companies.
  • We sell to O&P providers who are free to market products that compete with the MyoPro, and we rely on these providers to market and promote our products in accordance with their FDA listings, select appropriate patients and provide adequate follow-on care.
  • The market for myoelectric braces is relatively new and the rate of adoption is uncertain, and important assumptions about the potential market for our products may be inaccurate.
  • Risks Related to Our Products
  • We may receive a significant number of warranty claims or our MyoPro may require significant amounts of service after sale.
  • Defects in our products or the software that drives them could adversely affect the results of our operations.
  • While there is long-term clinical data supporting the safety of our existing MyoPro products, updates to our products inherently have uncertain safety risks as they enter the market.
  • Risks Related to Collaborations and Licensing Agreements
  • We may enter into collaborations, licensing arrangements, joint ventures, strategic alliances or partnerships with third parties that may not result in the development of commercially viable products or the generation of significant future revenues.
  • Risks Related to Our Business Operations and Management
  • If we fail to properly manage our anticipated growth, including in O&P channel and international markets, our business could suffer.
  • We depend on the knowledge and skills of our senior management.
  • We may seek to grow our business through acquisitions of complementary products or technologies, and the failure to manage acquisitions, or the failure to integrate them with our existing business, could have a material adverse effect on our business, financial condition and operating results.
  • Risks Related to Government Regulation
  • Risks Related to Healthcare Industry
  • We are subject to extensive governmental regulations relating to the design, development, manufacturing, labeling, marketing, delivery and billing of our products, and a failure to comply with such regulations could lead to withdrawal or recall of our products from the market.
  • Our relationships with healthcare providers and physicians and third-party payers are subject to applicable anti-kickback, fraud and abuse and other healthcare laws and regulations, which could expose us to criminal sanctions, civil penalties, contractual damages, reputational harm and diminished profits and future earnings.
  • If we or our third-party manufacturers or key suppliers fail to comply with the applicable good manufacturing practice requirements, including FDA’s Quality Management System Regulation, our manufacturing operations could be interrupted.
  • Our employees, principal investigators, consultants and commercial partners may engage in misconduct or other improper activities, including non-compliance with regulatory standards and requirements and insider trading.
  • We face risks in connection with the Affordable Care Act (“ACA”) or its possible replacement or modifications and other ongoing healthcare legislative and regulatory reform measures.
  • Risks Related to Cybersecurity and Data Protection
  • Our internal computer systems, or those of our customers, collaborators or other contractors, third-party service providers and vendors may be subject to cyber-attacks, compromises or security incidents, which could result in a material disruption of our product development programs.
  • We, our collaborators and our service providers may be subject to a variety of privacy and data protection laws, regulations and contractual obligations, which may require us to incur substantial compliance costs, and any failure or perceived failure by us to comply with them could expose us to fines or other penalties and otherwise harm our business and operations.
  • European data collection is governed by restrictive regulations governing the use, processing, and cross-border transfer of personal information.
  • Issues relating to the use of artificial intelligence and machine learning could adversely affect our business and operating results.
  • Risks Related to Our Intellectual Property
  • Our success depends in part on our ability to obtain and maintain protection for the intellectual property relating to or incorporated into our products.
  • We are not able to protect our intellectual property rights in all countries.
  • We may be subject to patent infringement claims, which could result in substantial costs and liability and prevent us from commercializing our current and future products.
  • We rely on trademark protection to distinguish our products from the products of our competitors.
  • We may be subject to damages resulting from claims that our employees or we have wrongfully used or disclosed alleged trade secrets of their former employers.
  • Risks Related to our Securities
  • Risks Related to Ownership of Our Securities
  • Our stockholders will experience significant dilution upon the issuance of common stock if the shares of our common stock underlying our warrants are exercised or converted or if Avenue elects to convert some principal payments into common stock.
  • We may not be able to maintain a listing of our common stock on the NYSE American.
  • Actions of activist stockholders could be disruptive and costly and could adversely affect our results of operations, financial condition, and/or share price
  • There is no public market for our warrants or pre-funded warrants to purchase common stock.
  • Holders of our warrants and pre-funded warrants have no rights as a common stockholder until such holders exercise their warrants and acquire our common stock.
  • The market price of our common stock has been and may continue to be volatile.
  • We do not expect to declare or pay dividends in the foreseeable future.
  • If securities industry analysts do not publish research reports on us, or publish unfavorable reports on us, then the market price and market trading volume of our common stock could be negatively affected.
  • Future issuances of our common stock or equity-related securities could cause the market price of our common stock to decline and would result in the dilution of your holdings.
  • Future issuances of debt securities, which would rank senior to our common stock upon our bankruptcy or liquidation, and future issuances of preferred stock, which could rank senior to our common stock for the purposes of dividends and liquidating distributions, may adversely affect our common stock price.
  • If our shares of common stock become subject to the penny stock rules, it would become more difficult to trade our shares.
  • Anti-takeover provisions in our charter documents and under Delaware law could make an acquisition of us more difficult, limit attempts by our stockholders to replace or remove our current management and limit the market price of our common stock.
  • Risks Related to Internal Controls
  • We are a "smaller reporting company” under the reporting rules set forth under the Exchange Act. For so long as we remain a “smaller reporting company,” we may take advantage of certain exemptions from various reporting requirements that are applicable to other Exchange Act reporting companies that are not “smaller reporting companies”.
  • We are obligated to develop and maintain a system of effective internal control over financial reporting. We may not complete our analysis of our internal control over financial reporting in a timely manner, or these internal controls may not be determined to be effective, which may harm investor confidence in our company and, as a result, the value of our common stock.
  • The preparation of our financial statements involves the use of estimates, judgments and assumptions, and our financial statements may be materially affected if such estimates, judgments or assumptions prove to be inaccurate.
  • We are incurring increased costs as a public company and our management team is required to devote substantial time to new compliance initiatives and corporate governance practices.
  • Risks Related to Tax Laws
  • We may be subject to adverse legislative or regulatory changes in tax laws that could negatively impact our financial condition.
  • Our ability to use net operating losses and research and development credits to offset future taxable income may be subject to certain limitations.

Legal proceedings

The Company may be involved in legal proceedings, claims and assessments arising from the ordinary course of business. Such matters are subject to many uncertainties, and outcomes are not predictable with assurance. There is no material litigation against the Company at this time that is required to be disclosed under Item 103 of Regulation S-K.

The opening of Item 3, Legal Proceedings.5

Sources

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