|
|
|
(State or Other Jurisdiction of Incorporation)
|
(Commission File Number)
|
(IRS Employer Identification No.)
|
|
|
|
(Address of Principal Executive Offices)
|
(Zip Code)
|
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
|
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
|
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
|
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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Title of each class
|
Trading
Symbol(s)
|
Name of each exchange on which registered
|
||
|
|
|
Item 2.02 |
Results of Operations and Financial Condition.
|
Item 9.01 |
Financial Statements and Exhibits.
|
(d) |
Exhibits
|
Exhibit No.
|
Description
|
|
Press Release, dated May 12, 2022.
|
HELIUS MEDICAL TECHNOLOGIES, INC.
|
||
Dated: May 12, 2022
|
By:
|
/s/ Jeffrey S. Mathiesen
|
Jeffrey S. Mathiesen
|
||
Chief Financial Officer and Treasurer
|
•
|
U.S. commercial launch of PoNS® for multiple sclerosis (“MS”) commenced with 23 prescriptions written and 2 filled.
|
•
|
Finalizing activities for participation of several clinical trial sites for the Company-sponsored Therapeutic Experience Program (“TEP”), an open label observational interventional
trial designed to evaluate the impact of subjects’ adherence on PoNS Therapy outcomes in patients with MS.
|
•
|
Increased to 41 clinic locations in Canada.
|
•
|
Q1 2022 revenue increased by 126% to $190 thousand compared to $84 thousand in Q1 2021.
|
•
|
Projected cash flow positive operations by Q4 2023
|
Date:
|
Thursday, May 12, 2022
|
Time:
|
9:00 AM ET
|
Toll-free (U.S.)
|
(866) 374-5140
|
International
|
(404) 400-0571
|
Conference ID
|
33919561
|
Webcast:
|
https://edge.media-server.com/mmc/p/4ew556jx
|
Investor Relations Contact:
|
Lisa M. Wilson, In-Site Communications, Inc.
|
T: 212-452-2793
|
E: lwilson@insitecony.com
|
Three Months Ended
|
||||||||
March 31,
|
||||||||
2022
|
2021
|
|||||||
Revenue:
|
||||||||
Product sales
|
$
|
183
|
$
|
77
|
||||
License revenue
|
7
|
7
|
||||||
Total operating revenue
|
190
|
84
|
||||||
Cost of sales:
|
||||||||
Cost of product sales
|
124
|
15
|
||||||
Gross profit
|
66
|
69
|
||||||
Operating expenses:
|
||||||||
Research and development
|
1,764
|
1,316
|
||||||
Selling, general and administrative
|
2,819
|
2,197
|
||||||
Amortization expense
|
47
|
57
|
||||||
Total operating expenses
|
4,630
|
3,570
|
||||||
Operating loss
|
(4,564
|
)
|
(3,501
|
)
|
||||
Other income:
|
||||||||
Other income
|
1
|
—
|
||||||
Foreign exchange gain
|
217
|
139
|
||||||
Total other income
|
218
|
139
|
||||||
Net loss
|
(4,346
|
)
|
(3,362
|
)
|
||||
Other comprehensive loss:
|
||||||||
Foreign currency translation adjustments
|
(202
|
)
|
(128
|
)
|
||||
Comprehensive loss
|
$
|
(4,548
|
)
|
$
|
(3,490
|
)
|
||
Net loss per share
|
||||||||
Basic
|
$
|
(1.15
|
)
|
$
|
(1.65
|
)
|
||
Diluted
|
$
|
(1.15
|
)
|
$
|
(1.65
|
)
|
||
Weighted average shares outstanding
|
||||||||
Basic
|
3,787,871
|
2,040,839
|
||||||
Diluted
|
3,787,871
|
2,040,839
|
March 31, 2022
|
December 31, 2021
|
|||||||
ASSETS
|
||||||||
Current assets
|
||||||||
Cash
|
$
|
6,310
|
$
|
11,005
|
||||
Accounts receivable, net
|
60
|
66
|
||||||
Other receivables
|
185
|
185
|
||||||
Inventory, net
|
520
|
476
|
||||||
Prepaid expenses
|
951
|
862
|
||||||
Total current assets
|
8,026
|
12,594
|
||||||
Property and equipment, net
|
380
|
409
|
||||||
Other assets
|
||||||||
Goodwill
|
777
|
763
|
||||||
Intangible assets, net
|
291
|
333
|
||||||
Other non-current assets
|
4
|
—
|
||||||
Operating lease right-of-use asset, net
|
140
|
3
|
||||||
Total other assets
|
1,212
|
1,099
|
||||||
TOTAL ASSETS
|
$
|
9,618
|
$
|
14,102
|
||||
LIABILITIES AND STOCKHOLDERS' EQUITY
|
||||||||
Current liabilities
|
||||||||
Accounts payable
|
$
|
1,111
|
$
|
1,069
|
||||
Accrued liabilities
|
1,008
|
1,433
|
||||||
Operating lease liability
|
51
|
3
|
||||||
Deferred revenue
|
29
|
148
|
||||||
Total current liabilities
|
2,199
|
2,653
|
||||||
Non-current liabilities
|
||||||||
Operating lease liability
|
99
|
—
|
||||||
Deferred revenue
|
190
|
193
|
||||||
TOTAL LIABILITIES
|
2,488
|
2,846
|
||||||
Commitments and contingencies
|
||||||||
STOCKHOLDERS’ EQUITY
|
||||||||
Preferred stock, $0.001 par value; 10,000,000 shares authorized; no shares issued and outstanding as of March 31, 2022 and December 31, 2021
|
—
|
—
|
||||||
Class A common stock, $0.001 par value; 150,000,000 shares authorized; 3,794,797 and 3,780,674 shares issued and outstanding as of March 31, 2022
and December 31, 2021, respectively
|
4
|
4
|
||||||
Additional paid-in capital
|
149,834
|
149,412
|
||||||
Accumulated deficit
|
(141,381
|
)
|
(137,035
|
)
|
||||
Accumulated other comprehensive loss
|
(1,327
|
)
|
(1,125
|
)
|
||||
TOTAL STOCKHOLDERS’ EQUITY
|
7,130
|
11,256
|
||||||
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY
|
$
|
9,618
|
$
|
14,102
|