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Helius Medical Technologies, Inc. Reports Fourth Quarter and Full Year 2019 Financial Results; Introduces Full Year 2020 Outlook
NEWTOWN, Pa., March 12, 2020 (GLOBE NEWSWIRE) -- Helius Medical Technologies, Inc. (Nasdaq:HSDT) (TSX:HSM) (“Helius” or the “Company”), a neurotech company
About this update from Solana Company
[{"type":"text","content":"NEWTOWN, Pa., March 12, 2020 (GLOBE NEWSWIRE) -- Helius Medical Technologies, Inc. (Nasdaq:HSDT) (TSX:HSM) (“Helius” or the “Company”), a neurotech company focused on neurological wellness, today reported financial results for the quarter and full year ended December 31, 2019.\n Full Year 2019 Financial Summary Revenue of $1.5 million, compared to revenue of $0.5 million in 2018. Total revenue comprised of: Product sales of $1.454 million, compared to no product sales in 2018Fee and license revenue of $42 thousand, compared to fee and license revenue of $478 thousand in 2018. Operating loss of $24.0 million, compared to operating loss of $26.7 million in 2018.Net loss of $9.8 million, compared to net loss of $28.6 million in 2018. Fourth Quarter 2019 Financial Summary Revenue of $0.2 million, compared to revenue of $0.5 million in fourth quarter of 2018. Total revenue comprised of: Product sales of $159 thousand, compared to no product sales in fourth quarter of 2018.Fee and license revenue of $(7) thousand, compared to fee and license revenue of $478 thousand in fourth quarter of 2018. Operating loss of $5.6 million, compared to operating loss of $5.3 million in fourth quarter of 2018.Net loss of $5.3 million, compared to net loss of $5.1 million in fourth quarter of 2018. Fourth Quarter and Recent Business Updates On October 24, 2019, the Company provided an update outlining the Company’s U.S. regulatory strategy following its pre-submission meeting with the U.S. Food and Drug Administration (“FDA”).On November 19, 2019, the Company reported that P3 Health, a leading healthcare facility located in downtown Toronto, was the seventh clinic to be authorized as a PoNS Treatment Center in Canada.On November 22, 2019, the Company announced the pricing of its previously announced underwritten public offering of 4,815,010 shares of its Class A common stock at a price to the public of $0.35 per share. Gross proceeds from the offering were $1.7 million.On December 19, 2019, the Company announced that the results from independent research conducted at the University of Wisconsin-Madison on translingual neurostimulation for the treatment of chronic symptoms due to mild-to moderate traumatic brain injury (“mmTBI”) have been published in the December 2019 issue of the Archives of Rehabilitation Research and Clinical Translation.On January 1...