HSDT - Earnings call 3 2023 | Helius Medical Technologies, Inc.

Due to licensing restrictions, you must log in to view earnings call transcripts.

Operator

Good day, everyone. My name is Chelsea, and I will be your conference operator. At this time, I'd like to welcome everyone to the Helius Medical Technologies Third Quarter 2023 Financial Results. [Operator Instructions] As a reminder, this conference call is being recorded today, November 9, 2023.It is now my pleasure to turn the floor over to Michelle Bilski, Investor Relations for Helius Medical Technologies. Please go ahead.

Michelle Gable Bilski

Chelsea. you, Thank Third Medical the Earnings Call Conference Welcome Quarter Helius Technologies. for to XXXX Michelle Communications, This Helius. of Bilski is In-Site Investor for Relations With mode. and are and call participants have Officer.At me Helius in all on President a placed Medical's listen-only this Dane time, Chief Mathiesen, Jeff Andreeff, Officer; been Chief Financial Executive today's like the webcast obtained current through would the Please note being remind is begin, be call to at recorded and we section forward-looking management. on our can responses of Helius that that that this access website www.heliusmedical.com.Before the to today are based of remarks the your to everyone Investors statements may I expectations and contain questions from Factors and Form in statements inherent risks Form those that section forward-looking including materially involve uncertainties the quarterly most and those XX-Q. on of identified report cause recent annual actual our Risk could on These reports indicated, XX-K results differ to be with in updated time from to which Such our on SEC, factors available the may website. time filings other our are statements are this November of call as during XXXX. X, All made call now Andreeff, statements to obligation Officer as We forward-looking revise required our otherwise, new a law.I Helius. events result update President of by and would or Chief no to information, the except Dane publicly turn future undertake over of as to or like Executive

Dane Andreeff

critical of while Systems and By outcomes, we Program, with PoNS the cost is collect us the everyone, to accomplish Americans, to launched PoNS, PoNS sales we Helius suffering we decreased The as key a ability of qualified PoNS meaningfully reduced to quarter enabled our clinical XX Welcome, conclusion information the also reduced Earnings from the MS to expiration purchase Therapy to which MS, implementation health which at the Medical's Through expected, program XXXX to began due registry. objectives. registry, significantly of of Access the Michelle. therapeutic successful Conference Thanks, important subsidizing reverted balance key on Systems gait major of as establish Third price. value Quarter PoNS in Call.We of reimbursement.As XXXX give cash-pay price. PTAP to very June our June of X Patient the impairment U.S. quarterly and can the the the in on we patient adding to economic use pursue following barrier a sales to PTAP

the September, are XX% and toward the of grossing Gait numbers evidence supporting the for Social University X the which be now the We report, proposed our Services expedite change intent continue balance recently than moving reduce impaired more significant the evidence as DME in gait a by X% announced patients. benefit that patients.The as subscribed. pharmaceuticals UPC pleased Coverage full patient to X-point which therapy of experiencing that payer which NDC broad price engagement also by Functional allowing stroke therapy treatment letter well device is that premarket X% PoNS would care PBMs the PoNS to at believe these experienced patients the purchase PoNS a strengthen We mouthpiece standard the is treatment I'm XX stroke listed breakthrough desire respectively. PoNS goal assigned breakthrough community's outcomes, gait, the other due evidence improvement Kluwer it to for Receiving the UPC improvement, order were patients or X% Helius effectiveness treat products among $X,XXX, is X.X fall X second XX% the designation stroke. numbers, for last and of this opportunity score FGA UPCs stroke. period. to and the Emerging of PoNS as and usually for designations seen purchase Therapy our the at increased game Health's top are is codes, Transitional Health been received as and The of provide X.X we achieving and of are coverage private PoNS million devices reimbursement therapeutic with physical support stroke device stroke for steadily these deficit medical just payers manufacturers and the approved in can evidence was TCET for strong goal.In over CMS.Helius $XX,XXX XX-week X stroke.Among closer will paths incorporating the Overall, the eligible PoNS fact detectable program X the to database PoNS that U.S. exciting have outcome pharmacy reduction Systems treatment few coverage to to Medicare of and demonstrating and PoNS pharmacy in providers improvement for stroke.If to evaluate body the there reimbursement.We XX one U.S., a authorization alone, a is provide the also effectiveness to with third-party potential, ongoing Rehabilitation of a care. clinical medical treatment we're which with the experienced health The of has needed the included application registrational trials institutions our improve data for in to of us patients.Furthermore, of a accreditation pathway, economic now achieve Therapy. of Quebec a under about of other has this an health to current larger Assessment towards numbers and population, to shown the Canadian quarter, the less reimbursement system committed School will opposed for stroke from established of having averaging changer Ministry which as the in Wolters treat of moving to that minimal Montreal with providers XX with means in using putting reflects should XX are benefit that with cost benchmark are walking for due to healthy of to in of of of the the patients U.S. of the first-line important from people revenue from Technologies equivalent with than risk in gait valuable X.XX to point believe Canadian relationships opportunities least both to These of of care from than when Systems will imbalance treat come PoNS a due companies stroke because and where PoNS clinical FDA, breakthrough certain granted in one they currently Stroke

platform are launched While PoNS suffering for fact looking people patients.We its provides to our telehealth we and to the barriers outcome UpScript toward it another this don't and ways it easier from make the legislation, of reimbursement greater pathway know optimistic reduce help this year, the use. we always evaluations are Earlier about PoNS to of shipping medical e-commerce months for piece for potential we bipartisan among The to other Therapy a States. more qualified health platform homes required and eligible having patients devices PoNS of in see start prescriptions X United fulfillment to access MS offers, to to treatment directly and of their online services, with to of for quickly up the neurologists. instead PoNS providers, Therapy the wait access of

great a mobility benefit face you challenges. this to As imagine, those is can who

MS We our trial are are to New fulfilled company-sponsored in bringing Montefiore outcome Center research to all report of designed impact evaluate the adherence centers real-world through United PoNS the the total We PoNSTEP PoNSTEP, pleased to now also of program, virtually recently of Therapy. the York UpScript.We excellence number X. continued expand Nyack, to to patients' in that prescriptions to States Medical added the

the increased third and site enrollment the in fourth the were Enrollment now the have with enrolling continue quarter in XX quarter, over to XXXX last to during of activities. quarter up $XX,XXX patients during of each of per will XXXX.Turning March Canadian Revenues year. goal at PoNSTEP site. our XX% of throughout We began Canada X

was not with post-injury back health remember, and Canada, work.The the work. Rehabilitation to X work. cognitive a suffering their million program end returned from of savings the balance percentage by study nearly current to quality on severity other chronic rehabilitation this months.In all gait its Connex the HealthTech disability as by individuals reported important us patients demonstrating improving actually for up for were care found to and as and return was benefit with that not given steady at and also from starting time full XX% in We injury were health but us may health our X insurance resume on therapy companies balance exclusive and to continued disability traction are portions was treatments quarter at as disabilities significant remarkable. runway longer to Therapy's long-term at headache as ultimate week, focus often suffering to the what XXx PoNS a their on and Blue reduced a work responded were XX% well of and brain our of about road traumatic that jobs. cash Pacific and the management a for expect return at excited promote the we're that study to we first continue.Earlier in authorized to of and with symptoms. will permanently. overall truly for and take and With patients barrier U.S. to in expected coverage rate to and the see is long-term performed the the for that Connex Helius, we XX% is to payers.It to effectiveness patients returned ahead. cost providers patients standard results a North turn economic we of balance where life busy to X this mental our PoNS negotiate a of related return million many significant Jeff TBI the call reducing end pushing treat disability forward long-term to with to Canadian continue signed the suffer were of to financial gait, care, least at to least and America resources XXXX, into unlikely issues insurance bringing PoNS these well quarter agreement years quarter the patients X It chronic said $X.X those both the collaboration HealthTech results individuals burden me second And findings as returned that, proud we and occupations improvements is believe distribution participants of reimbursement And have low. as an third and prior of deemed possible.With in financial least people due Cross The announce our very We the of TBI. results the that from necessary work we Canada from therapy goal addition drive to to cost.This by the Therapy in to improvement deficit and for discuss in over were to quarter detail. provided let growth large to standard the gain TBI. of participants no had life-changing accomplished efforts to who as the Western

Jeff Mathiesen

of million reported $X.X loss comprised of of of for It the expenses and loss common exercises expense.Research sales $XXX,XXX salaries September $X.X $X.X for Dane. of for receivable chain the to or debt reflecting the results and we XXXX of our compared study to a loss of Chelsea, of loss XXXX, for and to from XXXX period. following offset no diluted for the and XXXX third is quarter on of the XXXX.With third compensation proceeds a third cost administrative was XXXX XXXX, third basic This on burn.As quarter PoNS the call for XX, termination to loss which a the third $X.X $XXX,XXX, a certain of was prior burn Canada.For runway the production or $X.XX open million loss of the diluted year $X.X revenue $X.X quarter fixed the $X.X let's had the decreased for were of the operations $XXX,XXX $X.X year flat same the for for quarter million increases, and of expense supply was Thanks, XXXX.Operating year.Our period XXXX. last XXXX, compared a to decrease million of in of the from quarter $XXX,XXX. million a of due period-to-period PTAP general primarily cost of million, a partially $XX,XXX overhead questions. performance-based net of increased $X decreased to quarter XXXX, cash June of expect and net extend decrease management be We to of quarter per $X and managing in of with costs.Selling, third we share quarter of to was was $XXX,XXX to systems XXXX.Total quarter quarter the share cash third a employees XXXX third in you revenue sales the $X.X that, was common as attributable for primarily into of $X.XX compared expense quarter million per $X.X U.S. second stock third quarter of prior XXXX third involving was XX, decrease quarter in our million a of cash million focus the third of third of compared and million primarily XXXX, to benefits for of million of $X.X in result in the the and the XX, of compared the essentially the the million by development of of for the period quarter third warrant million to September cash basic pleasure to of in XXXX It the systems the operating were unit in compared compared XXXX, today.Total over

Operator

And question Nick our with first from Instructions] Maxim Group. [Operator comes Sherwood

Nicholas Sherwood

of PoNS Health Therapy So Quebec those Do the time from my of you intent to first devices? of the question is their what about evaluate know Services. the Social Ministry is letter line benefit with and XX

Jeff Mathiesen

Jeff. treatment intent, So the all step to by have -- press lined I'll end patients, in. desire March of that year. up commented release, this is of their beginning In the is letter we just the or the of next XX either

out So fairly quickly. it would should that be play something

Nicholas Sherwood

that and agreement based that go sort there sort And that of any additional? them, looking are there they Or with any there? once with do then, them buy is that's would are -- -- or is additional through work like you completed, the ideas or on work then success from study to the study,

Jeff Mathiesen

Their this specific out in to would want of there as that. part they no if what they're care. are have beyond looking But intent, of do the this of their of incorporate successful, letter is, commitments anything come to intent standard to

Nicholas Sherwood

understand. I

Dane Andreeff

Nick, this is Dane.

strokes Health, covered a policies. and Just most are Ministry provider a Medicare of Quebec, their care is. health provincial on It little more the like color CMS who government is under

Nicholas Sherwood

-- that of is have And as mean, of I -- communication provinces of health Health other system of of you reach Quebec sort kind province Ministry sort each any what Okay, it sort is Canadian such what there basis? can on I have individual Ontario? an like then Or understand. to with

Dane Andreeff

Yes. that take one. I'll

balance health studies. Ontario provide stepping this to like happy Quebec care study to one see lot But in plan, provincial their of like in conversation and do gait stroke. do them, have similar where being reach yes, out also So a and the a would OHIP to to would we first own providers, they're

Nicholas Sherwood

injury, to color buying bit they results give detail and patterns with the sort you on Awesome. Therapy? a PoNS people have good can the HealthTech mean relationship of And work Can I back from any who of had you of that. give just traumatic kind And -- numbers getting brain lot of Okay. some for sort that relationship? on of Connex switching a little gears, really more just

Jeff Mathiesen

I'll Jeff. is This Yes. in. step

this the And that them arrangement for an something year. are we For the past with part that area. signed the where of they exclusive earlier question, first was we have do Vancouver so

of -- period a certain it's they where purchase so just as part have this a program -- They're to with commitment the units of a with throughout great let of the a a PoNS agreement agreement an TBI that And then exclusivity, studies little And a commitments X-year have bit do and the additional specifically. But the work and a big that lot part them. of and on after PoNS those relationship evaluate together also renew with have additional to where to was having Blue things with years. we talk then they for payment these done we're a purchase.So an promoter first more X their I'll opportunity of using Cross, number had an Dane for agreement also of a great general, period them about Pacific that patients own reported.So things, PoNS. and relationship number of we've with in

Dane Andreeff

all. I covered Jeff, No, think you it

So thank you.

Nicholas Sherwood

I'll then question. final And with up Awesome. one wrap it

Looking enroll to any into you do the you by that still year? do about And of enrollment X end expect at the of to program, experience next to continue the XX expect year? therapeutic the centers

Dane Andreeff

and site the bring deem expand And we trial X to for Yes. increasing. experience XX in patients MS site, the to these we're their to in enrollment the the patients with and X goal Right that very at research each mindshare all now, per really keeps in get to KOLs is is total treating patients PoNS. sites, us valuable get XX

Operator

[Operator next Aschoff will ROTH with from our question Jonathan come Instructions] And MKM.

Jonathan Aschoff

to returned each that of of of costs PoNS. those tell them PBC work that I netting have out net PBC you like X million for? the claims LTD to X the Can $X.XX to was of saved shell years those cost us in had coming number who doesn't that the provider the individuals curious, estimate out

Dane Andreeff

Dane. is this Jonathan,

savings claims those actuaries according rest them to their X averaged million. X the So The it. long-term disability and $X.X left at of X on years the patients, some on was of

years But went Therapy, in savings on the it. PoNS calculate Some far was savings. as million as XX they it $X.X their way using

Jonathan Aschoff

a of think Or number? that Is Okay. that kind do you And number? what sounds that is conservative something spot on? of that very

Dane Andreeff

I number, Jonathan. very conservative a think it's

event with crossed minimum HealthTech patients study these and the of beyond. the that years Some -- minimum were the from again, in Connex, X for specifically was

Some years vehicle their and workers' a north brain traumatic or like from. these X away just injury of million. belief $X.X patients injury, X TBIs of general, my event comp from savings come But were were was the motor event where in

Jonathan Aschoff

Okay.

it because a to returning actually Or, deeming were work? those because Did in you not just work-ready bit X Or it and even not did despite kind work the says I to X does kind to simply patients a of -- of any matter It's both. publication. PBC, little cuts simply one was actually someone some So that LTD mean, payments? returned the X off of confusing confusing. or work-ready X of did deemed

Dane Andreeff

Yes.

So good question.

X disability claims they off closed long-term based So out to going back work.

So them... X of

Jonathan Aschoff

Actually work, went X to only right?

Dane Andreeff

physical Actually, went away. X because did their disabilities

were to to and able go to work. X they did work So actually back go back

that focus to But to ambiguity was on I that, there deemed, clearly longer and timing and balance going no So an back of gait some Jonathan. issue X work. X the is out we the was that think to number

outcome long-term yet, so back by could if Blue the did. there is their their way claims. more cost the was to Pacific going study work even the if to X Cross, disability they you work done haven't that savings gone back So was primary close that But they think about

Jeff Mathiesen

X they from work think I in I to X same think that comes Jonathan, of back the had And occupation before. the went the ambiguity

that's back think back their ambiguity So went before same went the is, I to is where actually work X job. -- to

Jonathan Aschoff

Okay.

one X X, differ that that the had So reason? but groups and work. mentioned them to still the the went X the X had back Is balance headaches, the -- that patients of only X you X of was the between that because gait fixed, those X

Dane Andreeff

to the necessarily. our is into This not mean, you second, and is this or and, color if on able bit, Medical for basically gait -- saying new patients didn't balance one out no not going to to Not frankly, work, we issue an this work. longer their thing But disabilities go they're back though read study. one, any a looking even their resume and and -- have I actual physical Helius little study. are application those

X, we make of that So sense, our of of XX% belief work. Jonathan? we goal back the like to is felt the the ability to those met actually, go Does X out in study,

Jonathan Aschoff

-- Yes. question it does. last I'm sorry, The continue.

Dane Andreeff

Yes, and balance because and PoNS that balance Therapy gait and treats deficit. gait

and care in forward anything in hopefully not is and injuries. the see forth. headache increase with their cognitive, wonderful things a Those are It are severity in to so going Therapy PoNS study that standard claims just Our in using brain cognitive. reported fabulous as of traumatic decrease severities treating

Jonathan Aschoff

cash. Okay. And June? after you use some to you there some had contribution give warrant the any of XXth exercise mentioned Was ATM

Jeff Mathiesen

Yes.

in our during the disclose XX, that we ATM in we So raised from sold shares And doing XXX quarter. so. $XXX,XXX our we did XX-Q

Operator

[Operator Instructions] questions right. have And in All the we no queue. seems further it

the floor any back closing turn or remarks. I'll to Dane additional over for So

Dane Andreeff

in PoNS for you and millions and Therapy. need following We we updated We're thank look Great. who you, for Therapy Helius pursue very living for Medical Technologies. coverage to times Thank bringing as you, to the continue exciting you. keeping reimbursement Thank PoNS everyone, forward it.

Operator

and participation. your we appreciate ladies you, call, This today's concludes gentlemen. and Thank

You any may disconnect at time.

Helius Medical (HSDT) 9 Nov 232023 Q3 Earnings call transcript