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NEWTOWN, Pa. - Helius Medical Technologies, Inc. (NASDAQ:HSDT), a neurotech company specializing in neuromodulation for balance and gait deficits with a current market capitalization of $1.86 million, announced on Wednesday that it has achieved compliance with Nasdaq’s minimum bid price requirement. According to InvestingPro analysis, the company’s stock has experienced significant volatility, falling over 82% in the past year. The Nasdaq Hearings Panel notified Helius on Tuesday that it now meets the Bid Price Rule of the Nasdaq Listing Rules. However, the company must still demonstrate compliance with the Nasdaq’s Equity Rule by June 30, 2025, to maintain its listing.
The Nasdaq Listing Qualifications hearing process will continue to monitor Helius Medical Technologies until the company meets all listing requirements. The company’s primary product, the Portable Neuromodulation Stimulator (PoNS®), represents its focus on leveraging technology to aid individuals with neurological diseases. InvestingPro data reveals the company holds more cash than debt, though it’s quickly burning through available funds - two of twelve key insights available to subscribers.
This announcement comes after Helius was previously granted an extension to fulfill the Equity Rule, which is part of the Nasdaq’s continued listing standards. The company’s efforts to remain listed on the Nasdaq exchange underscore its commitment to meeting regulatory standards and providing transparency to its investors. With an overall Financial Health Score rated as "WEAK" by InvestingPro, investors seeking deeper insights can access comprehensive analysis through the Pro Research Report, available for over 1,400 US stocks.
Helius Medical Technologies has not made any forward-looking statements regarding its ability to maintain compliance with Nasdaq listing rules beyond the current achievement. The company has cautioned investors not to rely heavily on projections as it navigates the regulatory landscape.
The information in this article is based on a press release statement from Helius Medical Technologies. The company is recognized for its innovative approach to treating neurological disorders and continues to focus on developing medical devices that promote neuroplasticity and improve patients’ quality of life.
In other recent news, Helius Medical Technologies has announced that United Healthcare has approved reimbursement for its Portable Neuromodulation Stimulator (PoNS) device for patients with multiple sclerosis. This marks the second major healthcare provider to offer coverage, following Anthem. In another development, the company has initiated a 1-for-15 reverse stock split to maintain compliance with Nasdaq’s listing standards. This move was approved by shareholders and will consolidate shares while maintaining the current number of authorized shares. Helius Medical Technologies also secured $1.3 million in a private placement deal, issuing promissory notes and common stock. The funds are intended for working capital and general corporate purposes. Additionally, Helius has launched a new subsidiary, Revelation Neuro, Inc., focused on developing AI-powered brain-computer interface technology. This subsidiary aims to enhance neurorehabilitation and is expected to be financed through external sources. These recent developments highlight Helius’s ongoing efforts to expand its reach and capabilities in the neurotech sector.
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