Management is working to expand insurance coverage of their device while also building expertise in physical therapists to actually use it. It also may suggest that they are struggling to sell their product especially in light of commentary regarding Canada above. That leaves a lot of potential runway for the company as they develop their commercialization efforts. list price for PoNS device is $25,700 comprised of a onetime cost of $17,800 for the controller and $7,900 for the mouthpiece.”įrom this pricing it implies that they sold four devices in the quarter. We can note the pricing data management broke out in the quarterly call as well: “ The established U.S. Revenue for the quarter was reported at $119k which is up 68% YoY though with operating expenses at $3.5m there’s a long way to climb to profitability. We are currently evaluating additional measures and alternatives to achieve greater market adoption in Canada. Having said that, while we have gained valuable data from our patients in Canada, some of which we've used to achieve FDA authorization in the U.S., our sales have not reached the levels we have targeted.
#THINK MARK THINK MEME TRIAL#
In addition, we currently have small trial programs with a few insurance carriers in Canada evaluating the benefit of PoNS therapy which we hope will lead to coverage by some or all of those carriers in the near future. We now have 41 authorized PoNS clinics in Canada, up from 37 at the end of 2021. Since 2019, PoNS has been authorized for sale in Canada for chronic balance deficit due to mild-to-moderate traumatic brain injury and subsequently for the treatment of gait deficit due to mild-to-moderate symptoms from MS. Results thus far have lagged hoped for results per management’s commentary. Commercialization efforts have been ongoing in Canada while efforts in the US began just this year.
Their lead PoNS device was approved in Canada in late 2018, FDA authorized in March 2021, and also authorized in Australia in November 2021. They went public in 2014 via a reverse merger with Canadian company NeruoHabiliation, then listed on the Toronto Stock Exchange (TSX) in 2016, and finally listed on the NASDAQ in 2018.
#THINK MARK THINK MEME PORTABLE#
This work led to the development of the investigational Portable Neuromodulation Stimulator (PoNSTM), delivering neurostimulation via the tongue which has been shown in clinical studies to improve the effectiveness of physical exercises in people with neurological symptoms from disease or trauma such as mild-to-moderate traumatic brain injury. Helius’ origin stems from the early 1990s, and the pioneering work in neuroplasticity at the Tactile Communication and Neurorehabilitation Laboratory, (“TCNL”), at the University of Wisconsin-Madison. Helius Medical Technologies, Inc., (“Helius”), is a neurotech company in the medical device industry, focused on neurological wellness. Helius Medical Technologies The Companyįrom their website we can see a quick overview of the company in their words: With underlying fundamentals seeming to improve at the company, the stock trading below book value, and building retail interest in the name it’s possible a short squeeze could be quite abrupt and over 100%. Structural elements related to cost-to-borrow fees suggest a short squeeze is very likely in the coming two months. Cash on hand should fund commercialization efforts through the year. They are first to market with a novel device leveraging insights in neuroplasticity to improve gait deficit for those suffering with multiple sclerosis. Market launch of their Portable Neuromodulation Stimulator or PoNS device in the US was in Q1 which builds on their previous launch in Canada in 2019. Cash burn from the last two quarters suggests a $4.15m quarterly burn rate with the company. Incredibly irregular trading behavior underlies the stock price while the business itself appears poised for a turnaround.Īfter a recent equity raise resulting in $16.4m cash and no debt the company is trading at a P/B of 0.69x and is currently a net-net situation. Helius Medical Technologies ( NASDAQ: HSDT) is a tiny microcap with a $14.51m market capitalization that $100m in volume has transacted through in the past month.
Hedge fund managers are very serious about their returns.
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