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) will showcase its Portable Neuromodulation Stimulator (PoNS) device at the American Academy of Neurology (AAN) Annual Meeting for the first time since its launch in the U.S. and Canada. The device is authorized for use in managing gait deficits caused by multiple sclerosis, stroke, and mild-to-moderate traumatic brain injury. Helius reports promising clinical data, including over 55% average improvement in gait assessments among various patient groups. A notable finding includes 100% of MS participants improving their gait scores post-treatment. The AAN conference, held April 22-27, 2023, in Boston, allows for direct engagement with the medical team. This expansion of indications signals growing confidence in PoNS's efficacy and therapeutic potential.
Helius Medical Technologies (Nasdaq:HSDT) declared a dividend of one one-thousandth of a share of Series B Preferred Stock for each outstanding share of Class A common stock held on April 3, 2023. This new class of stock will have voting rights on specific amendments related to reclassification of Class A common stock. Each share of Series B Preferred Stock represents 1,000,000 votes, but will not be entitled to vote on other matters. Uncertificated, shares not present at a stockholder meeting will be redeemed for $0.001. Further details will be filed in a Form 8-K with the SEC.
Helius Medical Technologies (Nasdaq:HSDT) has announced an exclusive distribution agreement with HealthTech Connex (HTC) for the Portable Neuromodulation Stimulator (PoNS) device in the Vancouver area. This agreement replaces a previous partnership, granting HTC exclusive rights for purchase, marketing, and distribution over an initial five-year term, potentially extendable to ten years. Helius aims to enhance its market presence and improve the lives of patients with gait and balance impairments. Both companies express excitement over this collaboration, pivoting PoNS as a key solution for neurorehabilitation.
Helius Medical Technologies (Nasdaq:HSDT) reported a 51% revenue increase in 2022, totaling $787,000. Q4 revenue rose 9% year-over-year to $282,000. The company launched the UpScript Telehealth site for the PoNS® Therapy and added three Centers of Excellence to enhance patient access. Operating expenses decreased to $2.8 million in Q4, leading to a reduced operating loss of $2.7 million. Cash balance stood at $14.5 million at year-end. Helius anticipates revenue growth in 2023, contingent on third-party reimbursement developments.
Helius Medical Technologies (Nasdaq: HSDT) has announced that Health Canada has expanded the indication for its Portable Neuromodulation Stimulator (PoNS) device. The device is now approved for use as a short-term treatment (14 weeks) for gait deficits due to mild and moderate stroke symptoms, in addition to existing approvals for chronic balance deficits from traumatic brain injury (TBI) and gait deficits from multiple sclerosis (MS). This expansion addresses a significant medical need for approximately 878,000 Canadians living with stroke, providing clinically significant improvements in gait and reducing fall risks. The company continues to explore further applications of PoNS therapy.
Helius Medical Technologies (NASDAQ: HSDT) has announced it will release its fourth quarter and full year 2022 financial results on March 9, 2023, after market close. The company's conference call will be hosted by CEO Dane C. Andreeff and CFO Jeffrey S. Mathiesen at 4:30 PM ET that same day. Helius focuses on innovative neuromodulation therapies for balance and gait deficits, with its main product, the Portable Neuromodulation Stimulator (PoNS), aimed at treating neurologic deficits. PoNS is indicated for use in patients with mild-to-moderate MS symptoms and authorized for sale in Canada and Australia for related conditions.
Helius Medical Technologies (Nasdaq:HSDT) announced that CEO Dane Andreeff and CFO Jeff Mathiesen will present at the 35th Annual ROTH Conference from March 12-14, 2023, in Laguna Niguel, CA. Their presentation is scheduled for March 13, 2023, at 1:30 PM PT. Investors can access the webcast via the provided link. Helius specializes in non-implantable neurotechnologies aimed at addressing neurologic deficits, with a focus on its Portable Neuromodulation Stimulator (PoNS), used for improving balance and gait in patients with multiple sclerosis. The PoNS device is approved for short-term treatment in the US, Canada, and Australia.
Helius Medical Technologies (NASDAQ: HSDT) announced its participation in the American Physical Therapy Association Combined Sections Meeting (CSM) from Feb. 23-25, 2023. The company will showcase its innovative Portable Neuromodulation Stimulator (PoNS®), designed to treat gait and balance deficits in patients with multiple sclerosis (MS). For the first time, Helius will offer free on-site training for physical therapists, enabling them to become registered PoNS instructors. This training session aims to empower therapists to effectively utilize PoNS Therapy in conjunction with exercise, enhancing patient outcomes.
Helius Medical Technologies (HSDT) reported preliminary, unaudited financial results for Q4 and the full year of 2022. Q4 revenue is projected at $275,000 to $285,000, marking a roughly 40% increase from Q3 2022. Full year revenue is anticipated between $780,000 and $790,000, up about 50% from 2021. The year-end cash balance is expected to be $14.5 million, down from $16.7 million at the end of Q3 2022. The company has launched a telehealth e-commerce site and an online module for physical therapists to enhance access and training for PoNS Therapy.
Helius Medical Technologies (Nasdaq:HSDT) announced that CEO Dane Andreeff and CFO Jeff Mathiesen will present at the Virtual Q1 Investor Summit Microcap Event on January 26, 2023, at 9:30 AM ET. Investors interested in one-on-one meetings can register online. Helius focuses on neurological wellness through non-implantable technologies that enhance the brain's compensation ability and promote neuroplasticity. Their primary product, the Portable Neuromodulation Stimulator (PoNS), is designed for treating gait deficits due to multiple sclerosis and is approved for use in the U.S., Canada, and Australia.
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