Helius Medical Technologies Inc. (NASDAQ:HSDT) has reached a new 52-week low, with its shares trading at a price of $0.811. This marks a significant downturn for the company, which has seen its stock price steadily decline over the past year. The 52-week low of $0.811 is a stark contrast to the company's previous performance, indicating a challenging period for the medical technology firm. Over the past year, Helius Medical has experienced a drastic change in its stock value, with a 1-year change of -91.63%. This significant decrease underscores the volatility and challenges the company has faced in the market.
In other recent news, Helius Medical Technologies, Inc. has made significant strides in its operations. After a shareholder approval, the company has expanded its equity incentive plan, allowing for an additional 2,089,000 shares to be issued. This amendment also raises the maximum number of shares that may be issued upon the exercise of Incentive Stock Options to 5,000,000 shares.
The company has also reported a slight increase in revenue to $135,000 for the recent quarter, despite an operating loss of $3.4 million. A recent financing of $6.4 million ensures Helius Medical's operational sustainability into 2025. The company is also expecting a revenue boost following the anticipated CMS reimbursement by October 1st.
Helius Medical is focusing on securing FDA approval for stroke treatment and reimbursement for its Portable Neuromodulation Stimulator (PoNS) device. The company has initiated partnerships, including a notable collaboration with the Department of Veterans Affairs, to expand the reach of PoNS. Analysts from various firms have noted these developments and their potential impact on the company's financial trajectory.
InvestingPro Insights
As Helius Medical Technologies Inc. (HSDT) navigates through a period of financial turbulence, indicated by the new 52-week low in its share price, a closer look at some key metrics can provide a clearer picture of its current standing. With a market capitalization of just $2.43 million, the company's size is relatively small, which can contribute to higher volatility in its stock price. This is reflected in the significant year-to-date price total return of -89.27%, highlighting the steep decline investors have witnessed.
InvestingPro Tips reveal some of the factors behind these numbers. Helius Medical holds more cash than debt on its balance sheet, a positive sign in terms of financial stability. However, the company is quickly burning through cash and analysts do not expect it to be profitable this year. Additionally, the company's stock has fared poorly over the last month, with a 1-month price total return of -26.91%. These insights suggest that while the company may have some financial safeguards, its path to profitability is currently uncertain and its stock performance reflects investor concerns.
For those interested in a deeper dive into Helius Medical's financial health and stock performance, there are 15 additional InvestingPro Tips available, which can be accessed by visiting https://www.investing.com/pro/HSDT. Readers looking to explore these insights can use the coupon code PRONEWS24 to get up to 10% off a yearly Pro and a yearly or biyearly Pro+ subscription, offering a more comprehensive understanding of the company's potential investment value.
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