Case: Helius Medical Technologies, Inc.
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NEW YORK, NY – February 7, 2019 – Kaplan Fox & Kilsheimer LLP (www.kaplanfox.com) has been investigating claims on behalf of investors of Helius Medical Technologiues, Inc. (“Helius” or the “Company”) (Nasdaq: HSDT).   

On January 22, 2019, after the market opened, White Diamond Research published an article on Seeking Alpha titled “Helius Medical: A Failed Clinic Trial, Redacted Data, And Questionable Leadership, Points To An Ineffective Device.”  The article states that Helius “is a pre-revenue, $200M+ market cap company claiming its only product, the Portable Neuromodulation Stimulator (PoNS) device, can treat a type of brain injury by functional electrical stimulation of the tongue.” 

However, White Diamond asserts that “[t]his device is based on a still unproven concept from the 1960s. Even after almost 30 years in development, most of the evidence for efficacy is anecdotal, with a scarce amount of clinical data. . . We believe that the device doesn’t work, and this will show up in the sales results, which we predict will be miniscule. In our interviews with medical device experts, we have heard differing opinions on the odds of that it will get FDA approval. We don’t think it should get approved. We have a $5 price target on the share price this year, and, in our opinion, it will eventually go to zero after this year as sales fail to materialize, regardless of whether the PoNS receives FDA approval or not.”

On this news, shares of Helius declined $0.70 per share or approximately 8% to close at $7.65 per share.

If you are an investor in Helius and would like to discuss our investigation, please contact us by emailing This e-mail address is being protected from spambots. You need JavaScript enabled to view it or by calling 800-290-1952.  

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

Kaplan Fox & Kilsheimer LLP, with offices in New York, San Francisco, Los Angeles, Chicago and New Jersey, has many years of experience in prosecuting investor class actions. For more information about Kaplan Fox & Kilsheimer LLP, you may visit our website at www.kaplanfox.com.  If you have any questions about this Notice, the action, your rights, or your interests, please contact: 

Jeffrey P. Campisi, Esq.
KAPLAN FOX & KILSHEIMER LLP
850 Third Avenue, 14th Floor
New York, New York 10022
(800) 290-1952
(212) 687-1980
Fax: (212) 687-7714
E-mail: This e-mail address is being protected from spambots. You need JavaScript enabled to view it

Laurence D. King, Esq.
KAPLAN FOX & KILSHEIMER LLP
350 Sansome Street, Suite 400 
San Francisco, California  94104
(415) 772-4700
Fax:  (415) 772-4707
E-mail: This e-mail address is being protected from spambots. You need JavaScript enabled to view it