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Helius Medical (TASE:BLWV) Technologies, Inc. (NASDAQ:HSDT) announced it has regained compliance with the Nasdaq Capital Market’s equity listing requirement, according to a statement issued in a recent SEC filing.
On Monday, the company received formal notification from The Nasdaq Stock Market LLC confirming that it now meets the minimum stockholders’ equity requirement of $2.5 million, as set out in Nasdaq Listing Rule 5550(b)(1). Helius Medical had previously been working to address compliance issues related to both the equity requirement and the minimum bid price requirement.
Earlier this year, after a hearing with the Nasdaq Hearing Panel on March 18, the company was granted continued listing on Nasdaq, contingent on meeting the minimum bid price and equity requirements by June 30. On June 3, Helius Medical received notice that it had regained compliance with the minimum bid price rule. InvestingPro subscribers can access 15+ additional insights about HSDT, including detailed financial health metrics and future growth projections in the comprehensive Pro Research Report.
With the latest notification, Helius Medical is now in compliance with all applicable criteria for continued listing on the Nasdaq Capital Market.
The company will be subject to a Mandatory Panel Monitor until July 7, 2026, in accordance with Nasdaq Listing Rule 5815(d)(4)(B). If Helius Medical falls out of compliance with the equity requirement during this one-year monitoring period, it will not be eligible for an additional compliance plan or cure period. In such a case, Nasdaq staff would issue a delist determination letter, and the company would have the opportunity to request a new hearing before a panel.
This information is based on a press release statement included in the company’s SEC filing.
In other recent news, Helius Medical Technologies has reported several key developments. The company announced it has regained compliance with Nasdaq’s continued listing requirements, following a formal notice from the Nasdaq Hearings Panel confirming compliance with the equity requirement. Helius also filed an updated prospectus for the sale of up to $25 million of its Class A common stock, with plans to use the proceeds for working capital and other corporate purposes. Additionally, Helius implemented a 1-for-50 reverse stock split to maintain compliance with Nasdaq’s listing rules, reducing its outstanding shares significantly. The company also reported meeting the minimum stockholders’ equity requirement for continued Nasdaq listing, aided by an $8.1 million public offering. Furthermore, CignaHealth has authorized a claim for Helius’s Portable Neuromodulation Stimulator (PoNS) device, marking the fifth major payer to do so. This authorization follows a similar approval by Anthem MultiPlan, enhancing access for Multiple Sclerosis patients. These developments reflect Helius’s ongoing efforts to stabilize its financial standing and expand its market reach.
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