Why Is Nano-Cap Helius Medical Stock Trading Higher On Wednesday?
Portfolio Pulse from Vandana Singh
Helius Medical Technologies Inc (NASDAQ:HSDT) announced a partnership with Lovell Government Services to make its PoNS device available to federal healthcare systems, leading to a significant stock price increase. The device, indicated for gait deficit treatment in mild-to-moderate multiple sclerosis, has shown promising real-world results. Additionally, the company received HCPCS codes for the PoNS controller and is seeking marketing authorization for stroke treatment in the U.S.
April 03, 2024 | 12:55 pm
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Helius Medical's stock surged 38% in premarket trading following the announcement of its partnership with Lovell Government Services to distribute the PoNS device to federal healthcare systems.
The significant stock price increase is directly attributed to the announcement of the partnership with Lovell Government Services, which is expected to expand the availability of the PoNS device to federal healthcare systems. This expansion, coupled with promising treatment results and recent HCPCS codes assignment, contributes to positive investor sentiment.
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