Helius Medical Technologies, Inc. (TSX: HSM, OTCQB: HSDT) announced today that it intends to offer and sell, subject to market conditions, shares of its class A common stock in an underwritten public offering in the United States and Canada. All of the shares to be sold in the offering will be offered by the Company. There can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.
The Company intends to use the net proceeds of the offering to fund investment in PoNS™ research and development, including the completion of its ongoing registrational trial in mild- to moderate-traumatic brain injury, the launch of a registrational clinical trial in multiple sclerosis and an additional clinical trial in cognition, research and development activities to complete the Company's FDA submission and for working capital and general corporate purposes.
ABOUT THE PONSTM
The PoNS™ device is a non-invasive means for delivering neurostimulation through the tongue. The PoNS™ therapy is currently being studied in the United States and Canada for the treatment of balance disorder for subjects with mild to moderate traumatic brain injury.
ABOUT HELIUS MEDICAL TECHNOLOGIES
Helius Medical Technologies is a medical technology company focused on neurological wellness. Helius seeks to develop, license and acquire unique and non-invasive platform technologies that amplify the brain's ability to heal itself. Helius intends to file for U.S. Food and Drug Administration clearance for the PoNS™ device.