Helius Medical Technologies, Inc., a leading medical technology company focused on neurological wellness, recently announced details of its $6.4 million public offering. The offering consists of 4,266,667 shares of common stock at a price of $1.50 per share. The company intends to use the proceeds from the offering for general corporate purposes, including research and development, clinical trials, and working capital.
Helius Medical Technologies is known for its innovative Portable Neuromodulation Stimulator (PoNS) device, which is designed to treat neurological symptoms caused by traumatic brain injury, multiple sclerosis, and other neurological conditions. The PoNS device works by delivering electrical stimulation to the tongue, which in turn stimulates the brain’s natural ability to rewire and repair itself.
The company’s public offering comes at a time when there is a growing demand for non-invasive and drug-free treatments for neurological disorders. With an estimated 1.5 billion people worldwide suffering from neurological conditions, the market for innovative treatments like the PoNS device is expected to continue to grow.
In a statement regarding the public offering, Helius Medical Technologies CEO Philippe Deschamps expressed confidence in the company’s ability to deliver on its mission of improving neurological wellness. “We are excited to have the opportunity to raise additional capital to support our ongoing research and development efforts,” Deschamps said. “We believe that our PoNS device has the potential to revolutionize the treatment of neurological conditions and improve the lives of millions of patients around the world.”
Investors have shown strong interest in Helius Medical Technologies, with the company’s stock price rising steadily in recent months. The success of the public offering is a testament to the confidence that investors have in the company’s innovative technology and potential for growth.
Overall, Helius Medical Technologies’ $6.4 million public offering represents a significant milestone for the company as it continues to advance its mission of providing cutting-edge treatments for neurological disorders. With the funds raised from the offering, Helius Medical Technologies is well-positioned to further develop and commercialize its groundbreaking PoNS device, bringing hope and relief to patients suffering from debilitating neurological conditions.