Helius Medical Technologies Executes Reverse Stock Split and Raises $9.1 Million in New Offering

Introduction

HELIUS MEDICAL TECHNOLOGIES INC (NASDAQ: HSDT) is a neurotechnology company based in Newtown, Pennsylvania, specializing in non-implantable platform technologies designed to address neurologic deficits. The company’s first commercial product, the Portable Neuromodulation Stimulator (PoNS®), delivers mild stimulation to the surface of the tongue to promote neuroplasticity and support rehabilitation of balance and gait functions.

Corporate Structure

Helius Medical Technologies operates with a workforce of 11 to 50 employees. Its leadership team possesses experience in medical device development, regulatory affairs, and rehabilitation sciences. The company collaborates with rehabilitation specialists through online PoNS Therapy training launched in 2022 and engages strategic partners for product distribution and clinical research.

Neuromodulation by Maxim Potkin ❄

Recent Developments

On April 30, 2025, Helius announced a 1-for-15 reverse stock split of its Class A common stock, effective May 1, 2025, to maintain compliance with Nasdaq continued listing requirements. At the annual meeting on April 21, 2025, shareholders approved a proposal related to reverse splits ranging from 1-for-2 to 1-for-30; the board settled on the 1-for-15 ratio.
On June 6, 2025, the company closed a public offering led by Honigman PLC, issuing 2,768,600 shares of Class A common stock and warrants at a combined public offering price of $3.27 per unit, generating gross proceeds of approximately $9.1 million.
As of July 21, 2025, HSDT shares traded at $13.29, reflecting a 49.32% increase on a volume of 5,143,201 shares.

Financial and Strategic Aspects

Recent SEC filings include:

• Form 8-K dated July 9 and July 21, 2025 (Item 8.01), reporting material events without detailed financial metrics in narrative form. Specific inline XBRL data on revenue, expenses, and cash position require further extraction.
• Form S-8 filed July 10, 2025, registering 240,000 additional shares under the 2022 Equity Incentive Plan, indicating a focus on employee retention and alignment of interests between management and shareholders.

Strategically, Helius emphasizes expanding the adoption of PoNS® through clinical partnerships, training programs, and regulatory submissions. The company continues to invest in research and development to broaden indications and support payer reimbursement pathways.

Market Position and Industry Context

Helius Medical Technologies occupies a niche within the medical device industry, targeting functional neurological deficits via portable neuromodulation. PoNS® is authorized in the United States for gait deficits due to mild-to-moderate multiple sclerosis (MS), in Canada for balance deficits from mild-to-moderate traumatic brain injury and gait deficits from MS and stroke, and in Australia as an adjunct to therapeutic exercise. Helius aims to establish portable neuromodulation as a standard of care and competes alongside rehabilitation device manufacturers and emerging neurostimulation developers.

tl;dr

• On May 1, 2025, Helius implemented a 1-for-15 reverse split of its common stock.
• The company raised approximately $9.1 million through a June 6, 2025 public offering of 2.77 million shares and warrants.
• HSDT shares increased by 49.32% to $13.29 on July 21, 2025.
• SEC filings in July 2025 include two Form 8-Ks (Item 8.01) and an S-8 for share registration, highlighting employee incentive measures and reporting material events.
• PoNS® commercialization continues across U.S., Canadian, and Australian markets, with ongoing efforts to expand clinical indications and reimbursement coverage.