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Helius Medical Technologies (Nasdaq: HSDT) reported its Q1 2024 financial results. Revenue rose to $135,000 from $111,000 in Q1 2023, driven by higher product sales in the U.S. and Canada. Operating loss decreased to $3.4 million, down from $3.8 million in the prior year. Net loss remained stable at $2.5 million, with a net loss per share improving to $3.08, compared to $4.42 previously. The company successfully closed a $6.4 million public offering, netting $5.6 million. Helius received HCPCS codes for its PoNS device, with final reimbursement rates to be determined by October 1, 2024. The company expanded its stroke registrational program and partnered with Lovell Government Services to access federal healthcare systems.
Helius Medical Technologies, Inc. will release its first quarter 2024 financial results on May 13, 2024. The company, focused on innovative neuromodulation therapies, will discuss progress and plans for U.S. commercialization of PoNS® during a conference call hosted by its executives.
Helius Medical Technologies, Inc. announced the pricing of a $6.4 million public offering involving shares of Common Stock and Pre-Funded Warrants. The offering is expected to close on May 9, 2024, with net proceeds going towards operations and general corporate purposes.
Helius Medical Technologies, Inc., a neurotech company, announced the Centers for Medicare & Medicaid Services preliminary Medicare payment determinations for the PoNS Controller and Mouthpiece, with a public meeting scheduled for May 29, 2024. CMS proposed pricing based on cash pay rates, with the PoNS Mouthpiece capped at $3,075.53 and the PoNS Controller at $1,206.53. Helius plans to present at the meeting to advocate for higher reimbursement rates, intending to expand reimbursement and achieve positive cash flow.