Q1 2024 Helius Medical Technologies Inc Earnings Call Transcript
Key Points
- Helius Medical Technologies Inc (HSDT) secured CMS Medicare HCPCS codes for PoNS device, enhancing reimbursement opportunities.
- The company announced a $6.4 million financing, extending its cash runway into 2025, supporting ongoing projects.
- Helius Medical Technologies Inc (HSDT) is making significant progress in its stroke authorization pursuit in the U.S., adding new clinical sites and aligning with FDA on development plans.
- Partnership with Lovell Government Services to make PoNS available to VA and DoD, expanding access to federal healthcare systems.
- Positive preliminary Medicare payment determinations for PoNS devices, with expectations for favorable final determinations to boost revenue.
- Despite advancements, the final Medicare payment rates for PoNS devices are still under negotiation, with uncertainty about the outcomes.
- Net loss reported for Q1 2024 was $2.5 million, indicating ongoing financial challenges despite reduced operating loss.
- Revenues remain low at $135,000 for Q1 2024, reflecting the niche market and high price points of PoNS devices.
- The dependency on future CMS reimbursement approvals to significantly boost revenue introduces risk if approvals are delayed or lower than expected.
- Helius Medical Technologies Inc (HSDT) faces challenges in expanding its physical therapist network for PoNS therapy, critical for patient access and treatment efficacy.
Good day and thank you for standing by. Welcome to the Helius Medical Technologies first quarter 2024 earnings conference call. (Operator Instructions) Please be advised today's conference is being recorded. I would like to hand the conference over to your speaker today, Michelle Bilski, with In-Site Communications, please go ahead.
Thank you, Kevin. Welcome to the first quarter 2024 earnings conference call for Helios Medical Technologies. This is Michelle Bilski of In-sight Communications, Investor Relations for Helios. With me on today's call are Dane Andreeff, Helios Medical's President, and Chief Executive Officer; and Jeff Mathiesen, Chief Financial Officer.
At this time, all participants have been placed in a listen-only mode. Please note that this call is being recorded and access to the webcast can be obtained through the investor section of the Helios website at www.heliosmedical.com.
Before we begin
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
