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) announced the addition of Neurology Center of New England (NCNE) to its Therapeutic Experience Program (TEP), aiming to assess the adherence to PoNS therapy for gait improvement in Multiple Sclerosis (MS) patients. NCNE will contribute to a multi-center observational trial, enhancing understanding of PoNS therapy's real-world impact on MS treatment. The study will involve 50-60 participants at various Centers of Excellence, with enrollment beginning in Q4 2022 and continuing into 2023.
Helius Medical Technologies (NASDAQ: HSDT) has extended its Patient Therapy Access Program (PTAP) until June 30, 2023, allowing more Americans with multiple sclerosis (MS) to access PoNS Therapy™ at a reduced cost. This initiative, which began in June 2022, subsidizes therapy for those with a prescription and medical necessity letter. The PoNS device stimulates neural pathways to improve gait. Helius aims to enhance accessibility to this innovative neurotechnology, focusing on improving the mobility and quality of life for individuals with MS.
Helius Medical Technologies (NASDAQ: HSDT) has launched a new e-commerce site in partnership with UpScript to improve accessibility for Americans with gait issues. The Portable Neuromodulation Stimulator (PoNS®) device is now available online, allowing patients to receive it directly at home. This telehealth initiative is expected to streamline treatment for multiple sclerosis (MS) patients, enhancing their journey toward better mobility while still requiring physical therapist involvement.
Helius Medical Technologies (HSDT) announced on December 30, 2022, that its independent directors approved an equity award under its 2021 Inducement Plan for a new employee. The award includes an option to purchase 50,000 shares at an exercise price of $0.215 per share, the closing price on the grant date. The option vests over four years and has a ten-year term. Helius specializes in neurotechnology, aiming to enhance neurologic wellness through devices like the Portable Neuromodulation Stimulator (PoNS), which addresses gait deficits in multiple sclerosis.
Helius Medical Technologies (HSDT) reported a strong Q3 2022 with total revenue soaring by 80% to $196,000 compared to $109,000 in Q3 2021. This is attributed to the commercial availability of PoNS Therapy, which has gained positive market traction. The company raised $18 million in a public offering, providing $16.7 million in cash reserves for operations through 2023. Operating loss increased to $4.9 million, but net loss improved to $1 million from $4.7 million year-over-year, indicating a shift towards operational stability.
Helius Medical Technologies, Inc. (Nasdaq:HSDT) has announced the addition of the MGH Institute of Health Professions as the fourth Center of Excellence in its Therapeutic Experience Program (TEP). This multi-center, open-label observational trial aims to assess the adherence to Portable Neuromodulation Stimulator (PoNS) therapy among multiple sclerosis (MS) patients. Enrollment is expected to start in Q4 2022, involving 50-60 participants across 10-12 centers. The study seeks to evaluate the relationship between treatment adherence and gait improvement in MS.
Helius Medical Technologies (Nasdaq: HSDT) announced the addition of Oregon Health & Science University to its Therapeutic Experience Program, aiming to evaluate the effects of PoNS therapy for gait improvement in patients with multiple sclerosis (MS). The study is a multi-center, open-label trial to assess adherence to the PoNS device combined with physical therapy. Enrollment is expected to start in Q4 2022, targeting 50-60 MS patients across 10-12 Centers of Excellence in the U.S. Key endpoints include maintenance of gait improvement and overall functional outcomes.
Helius Medical Technologies will showcase its innovative Portable Neuromodulation Stimulator (PoNS®) at the ACRM Conference in Chicago from November 8-11. Visitors to booth 512 can explore how PoNS aids those with multiple sclerosis (MS) in improving gait deficiencies. The device uses electrical impulses through the tongue to stimulate neural pathways, enhancing mobility. Physical therapists can register for free online training to maximize the effectiveness of PoNS therapy. Helius is committed to supporting MS patients as 70% report mobility challenges.
Helius Medical Technologies (NASDAQ: HSDT) will release its Q3 2022 financial results on November 14, 2022, before the market opens. Following this, CEO Dane C. Andreeff and CFO Jeffrey S. Mathiesen will host a conference call at 8:30 a.m. ET to discuss the results and provide insights into the commercialization of PoNS®. The call can be accessed via registration, and a webcast will be archived for later viewing on the company’s investor relations website.
Helius Medical Technologies emphasizes its gratitude towards physical therapists skilled in using the Portable Neuromodulation Stimulator (PoNS®) during National Physical Therapy Month. The company aims to expand online training for therapists to enhance treatment for individuals with multiple sclerosis (MS). Clinical trials show that PoNS therapy significantly improves gait, with 58.3% of MS patients achieving notable gait enhancement. Helius is fostering a growing community of trained professionals to further support MS patients' mobility and quality of life.
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