Why Is Neurotech-Focused Helius Medical Trading Higher On Monday?
Portfolio Pulse from Vandana Singh
Helius Medical Technologies Inc (NASDAQ:HSDT) shares surged after receiving HCPCS Level II codes from the Centers for Medicare & Medicaid Services for its PoNS device, marking a significant reimbursement and access milestone. The stock's volume increased significantly to 5.71 million from an average of 171.2K. The PoNS device, aimed at treating neurologic deficits, is now set for potential reimbursement negotiations, with CMS expected to determine reimbursement amounts by October 1, 2024.
March 04, 2024 | 4:55 pm
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Helius Medical Technologies Inc's stock experienced a significant increase, up 35% to $6.16, following the assignment of HCPCS Level II codes for its PoNS device by the Centers for Medicare & Medicaid Services.
The assignment of HCPCS Level II codes to Helius Medical's PoNS device is a critical regulatory milestone that significantly enhances the product's commercial prospects by facilitating reimbursement negotiations with third-party payers. This development is likely to increase investor confidence in the company's growth potential, leading to a short-term positive impact on the stock price.
CONFIDENCE 90
IMPORTANCE 95
RELEVANCE 100