Welcome to our dedicated page for Helius Medical Technologies news (Ticker: HSDT), a resource for investors and traders seeking the latest updates and insights on Helius Medical Technologies stock.
Helius Medical Technologies, Inc. (symbol: HSDT) is a pioneering neurotechnology company headquartered in Newtown, Pennsylvania, dedicated to developing, licensing, and acquiring non-invasive technologies for the treatment of symptoms caused by neurological diseases or trauma. The company’s flagship product, the Portable Neuromodulation Stimulator (PoNS®), is a novel medical device approved in Canada for the treatment of chronic balance deficits due to mild-to-moderate traumatic brain injury (mTBI) and gait deficits related to multiple sclerosis (MS). The PoNS® device works by delivering gentle electrical stimulation to the tongue's surface, which helps improve balance and gait through enhanced neuromodulation.
Recently, Helius Medical Technologies has achieved significant milestones, including expanding its clinical development program in collaboration with renowned institutions like the Shepherd Center and Brooks Rehabilitation. This expansion aims to further validate PoNS®'s efficacy for treating gait and balance deficits in chronic stroke survivors, highlighting the company’s commitment to broadening therapeutic applications.
In terms of partnerships, Helius has secured a meaningful collaboration with Lovell Government Services to introduce the PoNS® device to the U.S. Department of Veterans Affairs (VA) and other federal healthcare providers. This partnership aims to enhance the quality of life for veterans suffering from MS by providing access to innovative treatments. Real-world studies have shown that PoNS® Therapy can lead to clinically meaningful improvements in gait for all MS patients after 14 weeks of therapy.
Financially, Helius Medical Technologies is focusing on securing widespread reimbursement for the PoNS® device. The company recently received its first third-party reimbursement from a major insurance carrier, a crucial step towards establishing market pricing and expanding access. This follows the Centers for Medicare & Medicaid Services’ (CMS) establishment of unique Healthcare Common Procedure Coding System (HCPCS) codes for the PoNS® components.
Additionally, the PoNS® device is now available for purchase via the VA’s Federal Supply Schedule (FSS) and the GSA Advantage marketplace, ensuring quicker access for veterans and federal employees. The inclusion of PoNS® in these platforms underscores its potential as a game-changing therapy for those affected by neurological conditions, promoting neuroplasticity and improving patients' lives.
For more information about the PoNS® or Helius Medical Technologies, please visit www.heliusmedical.com.
Helius Medical Technologies (NASDAQ: HSDT) plans to release its third quarter 2021 financial results on November 10, 2021, after market close. CEO Dane C. Andreeff and CFO Jeffrey S. Mathiesen will host a conference call at 5:00 PM ET to discuss results and company updates. The Portable Neuromodulation Stimulator (PoNS®), Helius’s first commercial product, aims to assist patients with gait deficits from conditions like multiple sclerosis and traumatic brain injuries. PoNS® is currently authorized in the U.S. and Canada for specific medical uses.
Helius Medical Technologies (HSDT) announced that its compensation committee has approved equity awards for six new employees as part of its 2021 Inducement Plan. Effective October 28, 2021, these individuals will receive options to purchase a total of 22,000 shares of Class A common stock at an exercise price of $14.20 each. The options are set to vest over four years, contingent on the continuation of their employment. Helius focuses on neurotech solutions aimed at improving the lives of those affected by neurological diseases.
Helius Medical Technologies (Nasdaq: HSDT) announced that CEO Dane C. Andreeff will present at the Dawson James Small Cap Growth Conference on October 21, 2021, from 11:00-11:20 AM ET. Interested parties can access the live webcast via this link, which will also be available for 30 days post-event. Helius focuses on neurological wellness, developing the Portable Neuromodulation Stimulator (PoNS™), an FDA-authorized device for treating gait deficits related to multiple sclerosis and traumatic brain injury.
Helius Medical Technologies (HSDT) announced that CEO Dane C. Andreeff will present at the Benzinga Healthcare Small Cap Conference on September 29, 2021, at 1:35 PM ET. The event will be available via live webcast and archived on their website for 30 days. Helius focuses on neurological wellness and aims to develop non-invasive technologies, including its Portable Neuromodulation Stimulator (PoNS™), designed for treating gait deficits and balance issues associated with neurological conditions.
Helius Medical Technologies (Nasdaq:HSDT) announced the appointment of Paul Buckman to its Board of Directors, effective September 10, 2021. Buckman, who brings over 30 years of experience in the medical device sector, will serve as Chair of the Audit Committee and a member of the Compensation and Nominating & Governance Committees. He is currently President, North America for LivaNova and has held leadership roles in various medical device companies. His expertise is expected to enhance Helius' growth, particularly with its novel treatment approaches for chronic neurological conditions.
Helius Medical Technologies (Nasdaq: HSDT) announced participation in the H.C. Wainwright Annual Global Life Sciences Conference from September 13-15, 2021. Management's presentation will be available on-demand starting September 13 at 7:00 a.m. Eastern Time, with investor meetings scheduled during the conference. Helius focuses on neurological wellness and develops the Portable Neuromodulation Stimulator (PoNS™), an innovative device for treating gait deficits associated with multiple sclerosis and mild traumatic brain injuries. For more information, visit heliusmedical.com.
Helius Medical Technologies (Nasdaq:HSDT) announced its voluntary delisting from the Toronto Stock Exchange (TSX), with the last trading day expected on September 9, 2021. The decision comes as the company believes that the trading volume does not justify the costs and efforts associated with maintaining the TSX listing, especially since it is already listed on Nasdaq. This move aims to redirect resources towards business advancement while ensuring good liquidity for stockholders. No shareholder approval is required for this delisting.
Helius Medical Technologies (Nasdaq:HSDT) announced that its PoNS™ device has received Breakthrough Designation from the U.S. FDA for treating dynamic gait and balance deficits due to stroke. This device aims to assist patients aged 22 and older as part of a supervised therapeutic exercise program. Strokes affect approximately 7 million Americans, with over 80% experiencing gait impairment. The Breakthrough designation enables more efficient interactions with the FDA and prioritized review, which could enhance patient access to this non-drug treatment option.
Helius Medical Technologies (Nasdaq:HSDT) reported a net loss of $6 million for Q2 2021, compared to a $3.4 million loss in Q2 2020. Revenue fell to $71,000 from $133,000 year-over-year. The operating loss increased 66% to $6.2 million, driven by a $1.9 million rise in non-cash stock-based compensation. The company ended the quarter with $7.4 million in cash, up from $3.3 million in December 2020. Despite challenges, Helius is focused on U.S. commercialization of its PoNS device, targeting MS patients with gait deficits, and aims to begin operations in early 2022.
Helius Medical Technologies, Inc. (HSDT) announced the approval of an equity award for a new employee under its 2021 Inducement Plan, effective August 10, 2021. The award grants an option to purchase 2,000 shares of Class A common stock at an exercise price of $15.39 per share, which is the closing price on the grant date. The options will vest over four years, contingent upon the new hire's ongoing employment. This announcement complies with Nasdaq Listing Rule 5635(c)(4), which mandates public disclosure of non-stockholder approved equity awards.
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