Shares of Myomo Inc. more than doubled in active midday trade Tuesday, to get back above its IPO price, after the medical-robotics maker reported results for its first full quarter as a public company. The stock was up 134% at $9.92, above its IPO price of $7.50. Volume topped 5 million shares, compared with the full-day average of about 82,000 shares. Late Monday, the company reported third-quarter revenue that rose 165% from a year ago to $489,000, as gross margin improved to 75% from 58%. The net loss of $1.26 million was slightly above last year’s $1.21 million, but per-share losses narrowed to 21 cents from $1.09. The stock had closed its first day of trade at $7.40 on June 12, then rose to a high close of $19.31 on June 19, before tumbled to its lowest close of $2.57 on Oct. 24. Myomo made history by becoming the first company to list on a major exchange as a Reg A+ company, which allows the company to pitch its IPO to all investors, not just those with a minimum net worth or income. The stock has now gained 34% since June 12, while the Renaissance IPO ETF has gained 10% and the S&P 500 has tacked on 6.5%.
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