Helius initiates strategic alternatives review after unfavorable CMS pricing for PoNS device

Solana Co

Engaged B. Riley Securities to advise on strategic alternatives including merger, sale, or licensing.
CMS set PoNS Mouthpiece price at $2,963.30 effective Jan 1, 2025; Company disagrees and seeks meeting.
CMS proposed PoNS Controller pricing maps to TENS code; Company rebuts at Nov 8 HCPCS public meeting.
CMS pricing delays commercial launch and financing; Company's market value impacted.
Company requests Controller pricing be set in tandem with Mouthpiece on Jan 1, 2025.

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