Helius Medical Technologies, Inc. (NASDAQ:HSDT) Q2 2023 Earnings Call Transcript

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Dane Andreeff: Yes. So in that funnel, there’s about 12 steps that we track towards that funnel, Anthony. So — of course, we get a lot of inquiries. They come in. They fill out a questionnaire, do they have MS? Yes. Do they have gait deficit? Yes. There’s a large questionnaire before they go down the pathway towards a taller Medicine appointment. Some of them already have prescriptions, and we use our online e-prescribing platform to dispense the product to the patient if they have a prescription. And then if they ask for an appointment, they — if they qualify, the doctor prescribes an e-prescription to them, they could have it filled that way. We ship out the product that day and they could have the product at their home within two days from there.

Right now, like Jeff said, we expect a slower second half until we get reimbursement. But that doesn’t slow the inquiries. The inquiries are very steady coming into not only our Helius website, our phone number inquiry — phone number, e-mail inquiry, but we also get them to UpScript — our partnership with UpScript to fulfill an order as well. So we track everything, Anthony. We track our Google searches and awareness there, what our brand is doing, what people are looking for, searching for. And really, the biggest thing they’re searching for is a viable treatment for balance and gait deficit. It comes across as the most common symptom in neurological diseases like MS. But Helius Medical and PoNS Therapy gets picked up on Google searches now continuously, and we continue to see inquiries so that we could educate the patients.

Anthony Vendetti: Okay. Okay. But the point being is until reimbursement — until there’s reimbursement, you wouldn’t be surprised if clicks to the site or visits to the site slowed a little bit in the second half?

Dane Andreeff: I would say it would be constantly growing through the second half because you’re talking about really getting through the first part of the fund. And once we collect that inquiry and whether they’re willing to pay cash, of course, or go down the reimbursement pathway, remember, the way we see it as we have that patient as a future PoNS patient. It just might be delayed three to six months, if they are unable to pay cash or go down the reimbursement pathway.

Anthony Vendetti: Okay. So they’ll still be coming to — they’ll still be visiting the site. It’s just a matter of not whether the follow-through happens depending on whether they elect to pay cash or they wait until the reimbursement. And at which point when that happens, the ones that are waiting because you’re tracking so many different metrics, so you’ll be able to reach out to them at that point.

Dane Andreeff: Correct. That’s correct. Yes.

Anthony Vendetti: Good. All right. Thanks very much. Appreciate that. I’ll hop back in the queue.

Jeff Mathiesen: Anthony one thing before you leave, just getting back to your first question. I did want to point out as you look in the 10-Q and the sales breakdown Canada for the U.S., we talked about the fact that Canada was lighter than expected and you asked about the agreement with HTC. But I did want to point out that Canadian sales in the second quarter were more than double the first quarter level and were above the prior year comparable quarter level as well. So we are seeing good activity there. We just had some other things that we had planned on that have gone into the second quarter — second half, I guess.

Anthony Vendetti: That’s helpful color. Thanks Jeff.

Jeff Mathiesen: You bet.

Operator: Thank you. At this time, I would now like to turn the conference back to Dane for closing remarks.

Dane Andreeff: Great. Thank you, Hope, and thank you, everyone, for following Helius Medical Technologies. We look forward to keeping you updated as we pursue coverage, reimbursement and continue to bring PoNS Therapy to the millions who need it. Thank you.

Operator: This concludes today’s conference call. Thank you for participating. You may now disconnect. Have a great evening.

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