Helius Medical Technologies, Inc. (HSDT) Bundle
A Brief History of Helius Medical Technologies, Inc. (HSDT)
Company Formation
Helius Medical Technologies, Inc. was established in 2014, focusing on the development of non-invasive therapies for neurological diseases. The company is headquartered in Newtown, Pennsylvania.
Public Offering
Helius Medical went public on the NASDAQ under the ticker symbol HSDT in December 2016. The IPO raised approximately $8.0 million at an offering price of $4.00 per share.
Product Development
The company is known for its primary product, the Portable neuromodulation stimulator (PoNS), which is designed to treat symptoms related to neurological conditions such as Multiple Sclerosis (MS) and traumatic brain injury (TBI).
Key Milestones
- In November 2020, Helius received FDA clearance for the PoNS device, marking a significant milestone in its commercialization efforts.
- In September 2021, Helius announced the launch of the PoNS device in Canada.
- In April 2022, the company reported a strategic collaboration with an unnamed Canadian healthcare entity to expand its reach.
Financial Overview
As of Q2 2023, Helius Medical reported total assets of approximately $10.2 million, with total liabilities amounting to $3.1 million. Cash and cash equivalents were recorded at about $5.5 million.
Recent Performance
For the fiscal year ended December 31, 2022, Helius Medical Technologies reported total revenues of $1.9 million, a year-over-year increase of 15.6%. The company incurred a net loss of approximately $12.3 million, compared to a net loss of $10.7 million in 2021.
| Year | Total Revenue ($) | Net Income/Loss ($) | Total Assets ($) | Total Liabilities ($) | Cash & Equivalents ($) |
|---|---|---|---|---|---|
| 2020 | 1,200,000 | (8,500,000) | 8,000,000 | 2,200,000 | 3,000,000 |
| 2021 | 1,600,000 | (10,700,000) | 9,200,000 | 2,800,000 | 4,000,000 |
| 2022 | 1,900,000 | (12,300,000) | 10,200,000 | 3,100,000 | 5,500,000 |
Market Position
Helius Medical Technologies operates within the neurological devices market, which, according to Grand View Research, was valued at $6.8 billion in 2021, with expectations of a compound annual growth rate (CAGR) of 7.5% from 2022 to 2030.
Investment and Funding
In 2021, Helius successfully closed a public offering that raised approximately $11.2 million to support its research and development activities. The company has also entered into several financing agreements to enhance its operational flexibility.
Clinical Trials
Helius is currently conducting multiple clinical trials to expand the indications for the PoNS device, including trials focusing on MS, concussion, and other brain injury-related disorders.
Future Outlook
The company's strategic plan includes expanding its sales force, launching its products in international markets, and continuing its research initiatives to explore additional therapeutic applications.
A Who Owns Helius Medical Technologies, Inc. (HSDT)
Ownership Structure
As of the latest available data, the ownership distribution of Helius Medical Technologies, Inc. (HSDT) is as follows:
| Shareholder Type | Percentage Ownership | Number of Shares Owned |
|---|---|---|
| Institutional Investors | 45% | 5,250,000 |
| Insider Ownership | 15% | 1,750,000 |
| Retail Investors | 40% | 4,500,000 |
Major Institutional Investors
The following is a list of major institutional shareholders in Helius Medical Technologies, Inc.:
| Institution | Shares Owned | Percentage |
|---|---|---|
| BlackRock, Inc. | 1,200,000 | 10% |
| Vanguard Group | 950,000 | 8% |
| State Street Global Advisors | 800,000 | 7% |
| Fidelity Investments | 600,000 | 5% |
Executive Team and Insider Ownership
The executive team holds a significant portion of shares within Helius Medical Technologies, Inc. The relevant data is as follows:
| Name | Position | Shares Owned |
|---|---|---|
| Philippe Deschamps | CEO | 600,000 |
| Joseph K. Riggins | CFO | 300,000 |
| Margaret L. Burns | COO | 250,000 |
| John F. Smith | Board Member | 200,000 |
Stock Performance and Market Capitalization
Helius Medical Technologies, Inc. trades on the NASDAQ stock exchange under the ticker symbol HSDT. As of the latest trading session, the following financial statistics are relevant:
| Metric | Value |
|---|---|
| Current Stock Price | $2.50 |
| Market Capitalization | $60 million |
| 52-Week High | $3.75 |
| 52-Week Low | $1.80 |
Recent Financing Activities
Helius Medical Technologies, Inc. has engaged in various financing activities in recent years. Details of recent activities are as follows:
| Activity | Date | Amount Raised |
|---|---|---|
| Public Offering | July 2023 | $10 million |
| Private Placement | March 2023 | $5 million |
| Equity Financing | December 2022 | $7 million |
Conclusion on Ownership Trends
Investors and analysts closely monitor the ownership trends of Helius Medical Technologies, Inc., as it reflects on the company's strategic direction and market confidence.
Helius Medical Technologies, Inc. (HSDT) Mission Statement
Overview
The mission of Helius Medical Technologies, Inc. is to develop and commercialize innovative medical technologies aimed at addressing neurological diseases, with a focus on enhancing the quality of life for patients.
Core Values
- Innovation: Commitment to developing cutting-edge technologies.
- Patient-Centricity: Focus on improving patient outcomes.
- Integrity: Adherence to the highest ethical standards.
- Collaboration: Working with healthcare professionals and stakeholders.
Financial Performance
As of December 31, 2022, HSDT reported total revenue of $1.4 million, compared to $1.2 million in 2021, reflecting a growth of approximately 16.67% year-over-year.
| Financial Metric | 2022 | 2021 | Change (%) |
|---|---|---|---|
| Total Revenue | $1.4 million | $1.2 million | 16.67% |
| Net Loss | ($16.2 million) | ($13.2 million) | 22.73% |
| Cash and Cash Equivalents | $20.1 million | $18.3 million | 9.83% |
Strategic Objectives
Helius Medical Technologies aims to:
- Expand its product offerings in the neurology space.
- Increase market penetration and establish partnerships.
- Enhance research and development for innovative therapies.
- Drive operational efficiency to improve financial performance.
Regulatory and Compliance
The company is focused on obtaining necessary regulatory approvals to ensure compliance with FDA and international standards for its products. In 2023, Helius sent submissions for regulatory clearances for its Portable Neuromodulation Stimulator (PoNS) device.
Market Opportunities
With an increasing prevalence of neurological disorders, the global neuromodulation market is projected to reach approximately $9.5 billion by 2026, growing at a CAGR of 11.2% from 2021 to 2026.
| Market Segment | Market Size (2021) | Projected Growth (2026) | CAGR (%) |
|---|---|---|---|
| Neuromodulation Devices | $5.2 billion | $9.5 billion | 11.2% |
| Chronic Pain Management | $2.3 billion | $4.1 billion | 10.7% |
| Deep Brain Stimulation | $1.1 billion | $2.3 billion | 12.4% |
Vision for the Future
Helius Medical Technologies envisions a future where its innovative solutions are at the forefront of neurological care, significantly improving the lives of individuals with challenging neurological conditions.
How Helius Medical Technologies, Inc. (HSDT) Works
Overview of Helius Medical Technologies, Inc.
Helius Medical Technologies, Inc. (HSDT) focuses on developing and commercializing innovative technology for neurological conditions. The company primarily works on the Portable Neuromodulation Stimulator (PoNS) device, aimed at improving the functionality of individuals with neurological deficits.
Business Model
The company operates on a business model that combines research and development, clinical trials, and commercialization. Its revenue streams include device sales, licensing agreements, and potentially reimbursement from healthcare providers.
Financial Performance
As of September 30, 2023, Helius Medical Technologies reported the following financials:
| Financial Metrics | Q3 2023 | 2022 Annual | 2021 Annual |
|---|---|---|---|
| Revenue | $1.2 million | $3.0 million | $1.5 million |
| Net Loss | $(4.5 million) | $(13 million) | $(10 million) |
| Cash and Cash Equivalents | $15 million | $12 million | $7 million |
| Research and Development Expenses | $2.0 million | $5 million | $3 million |
| General and Administrative Expenses | $2.5 million | $8 million | $7 million |
Product Overview
The Portable Neuromodulation Stimulator (PoNS) is a non-invasive device designed to deliver electrical stimulation to the tongue, aiming to trigger a brain response. The PoNS device has received FDA clearance for certain indications.
Target Market
Helius primarily targets patients with mild to moderate traumatic brain injuries (TBI) as well as other neurological conditions such as multiple sclerosis and stroke. The U.S. TBI market was valued at approximately $4.8 billion in 2022.
Clinical Trials and Research
As of Q3 2023, Helius is involved in several clinical trials to gather more data on the efficacy of the PoNS device. The total enrollment in current trials is approximately 350 participants.
| Clinical Trials | Condition | Participants | Status |
|---|---|---|---|
| Study 1 | Traumatic Brain Injury | 200 | Ongoing |
| Study 2 | Stroke | 100 | Ongoing |
| Study 3 | Multiple Sclerosis | 50 | Planned |
Regulatory Approvals and Partnerships
Helius has secured various regulatory approvals for the PoNS device, including FDA clearance and Health Canada licensing. Additionally, the company has established partnerships with healthcare institutions for further clinical research.
Market Challenges and Future Prospects
The company faces significant challenges including competition in the neurological device market and the necessity for continued clinical evidence to support claims. Helius anticipates an increase in device adoption as it expands marketing efforts.
Conclusion on Recent Developments
Helius Medical Technologies continues to evolve its product offerings and expand its market reach. The emphasis on rigorous clinical trials positions the company for potential growth within the neurological market segment.
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How Helius Medical Technologies, Inc. (HSDT) Makes Money
Revenue Sources
Helius Medical Technologies generates revenue primarily through the commercialization of its innovative medical device, the Portable Neuromodulation Stimulator (PoNS). The PoNS device is designed for the treatment of symptoms related to neurological disorders, particularly for individuals with chronic balance deficits due to mild to moderate traumatic brain injury (TBI).
Device Sales
The device is sold through a network of healthcare providers and clinics. As of the latest financial reports, Helius recorded revenue of $2.2 million in device sales for the fiscal year ended December 31, 2022.
| Year | Device Sales Revenue | % Change from Previous Year |
|---|---|---|
| 2020 | $1.0 million | N/A |
| 2021 | $1.5 million | 50% |
| 2022 | $2.2 million | 46.67% |
Partnerships and Collaborations
Helius also pursues strategic partnerships with healthcare organizations and research institutions to enhance the reach and efficacy of its products. In 2021, Helius entered into a partnership with Rutgers University to advance clinical research involving the PoNS device.
Reimbursement Models
Helius Medical Technologies engages with insurance companies and government payers to establish reimbursement policies for the PoNS therapy. As of 2022, they reported an increase in reimbursement approvals, which is critical for driving patient access and adoption. The company has initiated collaborations with Medicare and various state Medicaid programs to facilitate coverage, impacting their revenue positively.
Regulatory Milestones
Regulatory approvals are essential for Helius’ financial performance. The PoNS device received FDA clearance in 2020, which opened new markets and increased revenue streams. The company invests significantly in clinical trials to secure additional indications for the device, which could further boost revenues.
Future Growth Projections
Analysts project a compound annual growth rate (CAGR) of approximately 25% for Helius’ revenue from 2023 to 2026, driven by expanding market acceptance and regulatory approvals.
Expanding Product Lines
Helius is actively exploring opportunities to expand its product offerings beyond the PoNS device. This includes the development of supplementary therapies targeted at related neurological conditions. The R&D budget for the year 2023 is approximately $1.5 million, aimed at these expansions.
Market Analysis
The global neuromodulation market is projected to reach $13.72 billion by 2024, growing at a rate of 12.7% annually. Helius aims to capture a portion of this market through its innovative therapies.
Conclusion on Financial Health
As of the end of Q2 2023, Helius Medical Technologies reported cumulative revenue of $5.5 million since its inception. Their financial strategy incorporates increased investment in marketing and sales to push the PoNS device further into the healthcare landscape.
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