Helius Medical rises on letter of intent for purchase of stroke therapy

Solana Co

12/10/2023 12:43

** Shares of Helius Medical Technologies Inc  HSDT.O  rise
8.4% to $8.4 premarket
    ** Co received a letter of intent from the Québec Ministry
of Health and Social Services for the purchase of 30 of its
non-implanted nerve modulation device
    ** The sales of these Portable Neuromodulation Stimulator
(PoNS) devices are expected to commence in the Q4'23 and extend
through Q1'24
    ** The sale is part of an initiative to assess the value of
using PoNS to treat patients suffering symptoms due to stroke
    ** Canada's health regulator in March approved the
application for expanded use of the non-surgical device as a
short-term treatment for mild and moderate symptoms of stroke,
in conjunction with physical therapy
    ** PoNS devices to be provided to a least five sites in five
separate administrative regions within Québec - company
    ** As of last close, stock down 49.3% so far this year

 (Reporting by Pratik Jain in Bengaluru)
 ((Pratik.Jain@thomsonreuters.com;))