Business
Helius Medical Technologies, Inc. Provides Corporate Update
-- Fourth Quarter 2021 Revenue Projected to Range from $250,000 to $260,000 -- -- Unaudited Year End Cash Balance of $11 million -- -- Continued Progress
About this update from Solana Company
[{"type":"text","content":"-- Fourth Quarter 2021 Revenue Projected to Range from $250,000 to $260,000 -- -- Unaudited Year End Cash Balance of $11 million -- -- Continued Progress Toward U.S. Commercial Launch of PoNS® for Multiple Sclerosis -- -- Initiation of Pivotal and Investigator Initiated Trials for Use of PoNS in Stroke Patients Targeted for First Half of 2022 -- NEWTOWN, Pa., Jan. 26, 2022 (GLOBE NEWSWIRE) -- Helius Medical Technologies, Inc. (Nasdaq: HSDT) (“Helius” or the “Company”), a neurotech company focused on neurological wellness, today provided a corporate update. 2021 Corporate Highlights and Achievements Received marketing authorization from the U.S. Food and Drug Administration (“FDA”) for use of PoNS for short term treatment of gait deficit due to mild-to-moderate symptoms from multiple sclerosis (“MS”)Granted a second FDA Breakthrough Designation for PoNS for the treatment of dynamic gait and balance deficits resulting from a strokeReceived authorization from the Australian Therapeutic Goods Administration (“TGA”) for the sale of PoNS as a Class IIa medical device to improve balance and gaitContracted with NYU-Langone Health, the first of a targeted ten to twelve Centers of Excellence in a multi-center, company-sponsored Therapeutic Experience Program (“TEP”), an open label observational interventional trial designed to evaluate the impact of subjects’ adherence to PoNS therapyLaunched collaboration with the Medical University of South Carolina (“MUSC”) in an Investigator Initiated Trial (“IIT”) to evaluate the effects of PoNS therapy on the recovery of gait and postural stability in chronic stroke survivorsAppointed several highly qualified individuals to restructure senior leadership team including President & Chief Executive Officer, Chief Financial Officer, Chief Medical Officer, and Vice President of Sales & Marketing, North AmericaEnhanced the Board of Directors with the appointment of industry veterans Sherrie Perkins and Paul BuckmanRaised $24.0 million gross proceeds from equity financings to fund Company through several critical milestones including the US commercial launch of PoNS for the treatment of gait deficit due to MS Canadian Commercial Activities Total of 37 authorized PoNS clinics at the end of 2021, up from 31 at the end of 2020, despite the impact of COVID-19Expected 4th quarter 2021 revenue increased more tha...