Maxim downgraded Helius Medical to Hold from Buy. The company has received reimbursement payment determination updates from Centers for Medicare & Medicaid Services for its Portable Neuromodulation Stimulator – PoNS – controller and mouthpiece, and both of these were disappointing, the analyst tells investors in a research note. The lower CMS pricing of $2,963.30 for the PoNS Mouthpiece and a preliminary rate of $519.80 for the PoNS Controller – compared to the VA prices of $7,344.97 and $23,843.72 respectively – reduces the firm’s revenue projections, with unfavorable discrepancy potentially impacting the company’s ability to drive profitability and limiting its pricing power in broader market adoption, the analyst tells investors in a research note.
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