Helius Medical announces 1-for-50 reverse stock split effective June 30

NEWTOWN, Pa. - Helius Medical Technologies, Inc. (NASDAQ:HSDT), currently trading at $0.34 and down nearly 97% over the past year according to InvestingPro data, announced a 1-for-50 reverse split of its Class A common stock, effective June 30, 2025, with split-adjusted trading beginning July 1 on the Nasdaq Capital Market.

The reverse split, approved by stockholders on May 23, will convert every 50 shares of the company’s common stock into one share, maintaining the $0.001 par value per share. This action will reduce Helius Medical’s outstanding shares from approximately 33.8 million to 0.7 million, while the authorized share count remains at 150 million. The company’s market capitalization currently stands at just $1.07 million, with InvestingPro analysis indicating the stock is trading below its Fair Value.

The company’s stock will continue trading under the symbol "HSDT" with a new CUSIP number: 42328V 876.

As a result of the split, the conversion and exercise prices of outstanding stock options and warrants will increase proportionately. Fractional shares resulting from the split will be rounded down, with affected stockholders receiving cash equal to the market value of their fractional shares based on the closing price on the last trading day before the split becomes effective.

The reverse split is being implemented to enable Helius Medical to comply with Nasdaq’s continued listing requirements, according to the company’s press release statement.

Helius Medical Technologies describes itself as a neurotech company focused on neurologic deficits, with its first commercial product being the Portable Neuromodulation Stimulator (PoNS).

In other recent news, Helius Medical Technologies announced that it has regained compliance with Nasdaq’s minimum bid price requirement, following a notification from the Nasdaq Hearings Panel. The company is still required to meet the Nasdaq’s Equity Rule by June 30, 2025, to maintain its listing. Helius Medical Technologies also reported that it has met the minimum stockholders’ equity requirement for continued listing on The Nasdaq Capital Market, with an interim consolidated balance sheet showing stockholders’ equity of at least $2.5 million. This compliance was achieved after raising approximately $8.1 million through a public offering.

Additionally, the company has made significant progress in securing reimbursement for its Portable Neuromodulation Stimulator (PoNS) device, with major healthcare providers like United Healthcare, Aetna, and CignaHealth authorizing claims at various negotiated prices. The PoNS device is used to improve balance and gait in patients with multiple sclerosis and requires a prescription. These approvals are part of Helius’s ongoing efforts to increase patient access to the device and align commercial payments with rates offered by the VA/DoD. Helius is also working to secure reimbursement from the Centers for Medicare & Medicaid Services (CMS).

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