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 that its executives, Dane Andreeff and Jeff Mathiesen, will present at the ROTH Capital Partners Inaugural Healthcare Opportunities Conference on October 6, 2022, at 8:45 AM ET in New York City. Attendees can arrange 1-on-1 meetings with management through Roth Capital. Helius focuses on neurological wellness and offers the Portable Neuromodulation Stimulator (PoNS®), a device that aids in treating gait deficits associated with multiple sclerosis and traumatic brain injuries. For more information, visit their website.
Helius Medical Technologies (HSDT) announced the approval of an equity award under its 2021 Inducement Plan, as a material inducement for a new employee effective September 13, 2022. The award comprises an option to purchase 10,000 shares at an exercise price of $0.54 per share, matching the closing price on the grant date. The option vests over four years, with 25% vesting annually. Helius is focused on neurological wellness and has developed the Portable Neuromodulation Stimulator (PoNS), aimed at treating gait deficits from conditions like multiple sclerosis.
Helius Medical Technologies, Inc. (Nasdaq:HSDT) announced that its executives will present at two healthcare conferences this September. The first is the H.C. Wainwright 24th Annual Global Investment Conference (September 12-14, 2022), available on demand. The second is the Ladenburg Thalmann Healthcare Conference in New York City on September 29, 2022, at 10:00 AM ET. Helius focuses on neurological wellness and offers the Portable Neuromodulation Stimulator (PoNS), a non-surgical device aimed at improving balance and gait for patients with multiple sclerosis and traumatic brain injury.
Helius Medical Technologies, Inc. (Nasdaq:HSDT) reported Q2 2022 financial results with revenues increasing by 68% to $119K, primarily from PoNS Therapy sales for MS patients. The company initiated U.S. commercial sales and launched a Patient Therapy Access Program to improve accessibility. Operating expenses decreased to $3.5M, leading to a reduced net loss of $3.8M compared to $6.0M in Q2 2021. Cash reserves total $19.7M post-recent financing, expected to fund operations through 2023. The company anticipates modest revenue growth for Q3, driven by continued sales coverage and patient pairing efforts.
Helius Medical Technologies (NASDAQ: HSDT) will release its Q2 2022 financial results on August 15, 2022, after market close. CEO Dane C. Andreeff and CFO Jeffrey S. Mathiesen will host a conference call at 4:30 p.m. ET to discuss results and provide updates on the U.S. commercialization of its product, the Portable Neuromodulation Stimulator (PoNS). This innovative device aims to assist individuals with gait deficits due to multiple sclerosis. The conference call requires prior registration for dial-in details.
Helius Medical Technologies (Nasdaq: HSDT) announced a public offering of 24 million shares of Class A common stock and warrants for 36 million shares, priced at $0.75 each. The offering is expected to close around August 9, 2022, aiming to raise approximately $18 million in gross proceeds, intended for funding operations and working capital. Roth Capital Partners and Maxim Group are the lead and co-placement agents, respectively. The offering is registered under effective SEC statements, ensuring compliance with securities laws.
Helius Medical Technologies (Nasdaq:HSDT) has launched a new online training module for physical therapists aimed at treating gait deficits in multiple sclerosis (MS) patients. This shift from in-person training to an online format allows therapists to complete the training in under three hours, significantly increasing accessibility. Currently, 55 therapists in the U.S. and 20 in Canada are queued for training. Helius aims to standardize training and enhance the delivery of PoNS Therapy, intended for individuals with mild to moderate MS symptoms.
Helius Medical Technologies (Nasdaq: HSDT) presented a poster on the effectiveness of its Portable Neuromodulation Stimulator (PoNS) Therapy at the 2022 Consortium of Multiple Sclerosis Centers Annual Meeting. The study demonstrated significant gait improvement in patients with multiple sclerosis (MS) after two weeks of therapy. The poster was nominated for the prestigious Labe C. Scheinberg Award, highlighting its impact in advancing MS care. Helius plans to gather further evidence through its Therapeutic Experience Program, reinforcing its commitment to improving neurological wellness.
Helius Medical Technologies (Nasdaq:HSDT) launched a Patient Therapy Access Program (PTAP) to improve access to its Portable Neuromodulation Stimulator (PoNS) Therapy for patients with multiple sclerosis (MS). This initiative offers eligible patients reduced pricing for PoNS, which is prescribed for gait deficits due to mild-to-moderate MS symptoms. The program aims to drive adoption of PoNS Therapy and supports data collection for future clinical evidence. PTAP will run until December 31, 2022, enhancing access for first-time users of the therapy.
Helius Medical Technologies (Nasdaq: HSDT) announced a poster presentation at the Consortium for Multiple Sclerosis Centers (CMSC) Annual Meeting from June 1-4, 2022. The highlighted abstract showcases real-world data indicating that translingual neurostimulation can effectively improve gait in multiple sclerosis patients. Chief Medical Officer Antonella Favit-Van Pelt emphasized the benefits of neuromodulation in enhancing walking stability and promoting neuroplasticity. The presentation is scheduled for June 2 at 5:00 p.m. ET, with Helius representatives available to discuss the Portable Neuromodulation Stimulator (PoNS) device at Booth #804.
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