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BioSig Technologies, Inc. (Nasdaq: BSGM) is a Minneapolis-based medical technology company focused on the development and commercialization of advanced digital signal processing technology. The company aims to revolutionize the $3 billion electrophysiology (EP) market with its flagship product, the PURE EP™ Platform. This FDA-cleared, non-invasive class II device combines innovative hardware and software to provide unparalleled clarity and precision in visualizing intracardiac signals. The technology facilitates highly targeted cardiac ablation procedures, improving procedural efficiency and patient outcomes.
BioSig's commitment to addressing healthcare's critical priorities—saving time, reducing costs, and saving lives—is reflected in its collaborative efforts with leading medical centers, including the Cleveland Clinic, Mayo Clinic, and Texas Cardiac Arrhythmia Institute. The PURE EP™ Platform's Near-Field Tracking (NFT) algorithm, introduced in Q4 2023, has already demonstrated a significant reduction in ablation time by approximately 66%, highlighting its potential to enhance clinical procedures.
Despite recent challenges, including workforce reductions and strategic shifts, BioSig remains focused on expanding its product's adoption and exploring new market opportunities. The company recently appointed Bridge Associates International Pharmaceutical Consulting (BAIPC) to advise on business model strategies and continues to work on potential commercialization opportunities within the AI space.
Under the leadership of a new CEO and a reconstituted Board of Directors, BioSig is committed to restoring and creating lasting shareholder value. The company has also addressed compliance issues with the Nasdaq Hearings Panel, further solidifying its position in the marketplace.
For more information and the latest updates, visit the SEC's website.
BioSig Technologies (NASDAQ: BSGM) has successfully regained compliance with Nasdaq's minimum bid price requirement. The company maintained a closing bid price of $1.00 or more for at least 10 consecutive business days, meeting Nasdaq Listing Rule 5550(a)(2) requirements. Nasdaq has officially closed the prior bid price deficiency matter as of November 13, 2024. The company's PURE EP™ Platform, which is FDA 510(k) cleared, provides real-time cardiac signal visualization for targeted cardiac ablation procedures.
BioSig Technologies, Inc. (OTCQB: BSGM) has successfully appealed to the NASDAQ Panel, resulting in the resumption of its common stock trading on the NASDAQ Capital Market Exchange on October 23, 2024. The company was granted an extension until March 7, 2025, providing a 360-day grace period to meet the Market Value of Listed Securities (MVLS) requirement.
CEO Anthony Amato expressed gratitude to Nasdaq, the company's attorneys, advisors, and shareholders for their support during this challenging year. He emphasized that this development is positive for the company and its commitment to restoring shareholder value.
BioSig Technologies is a medical technology company focused on deciphering electrical signals, particularly heart rhythms. Their FDA 510(k) cleared PURE EP™ Platform provides superior, real-time signal visualization for cardiac ablation procedures, aiming to improve efficiency and efficacy in healthcare.
BioSig Technologies (OTCQB: BSGM) has announced its intent to acquire the assets of Neuro-Kinesis (NKC), a private medical technology company developing smart EP tools. The acquisition will be paid through BioSig's common stock, with NKC providing $2.5-$6 million in unrestricted cash to BioSig at closing. The deal aims to expand BioSig's product portfolio beyond PURE EP™.
NKC's key technologies include the Huygens™ Catheter, which improves signal detection resolution, and the Proteus™ Robotic Arm, offering computer-assisted robotic guidance for EP procedures. These innovations address limitations in existing EP mapping technology, potentially improving the treatment of complex arrhythmias.
The acquisition is subject to due diligence and shareholder approval. NKC brings a strong management team, extensive IP portfolio, and AI capabilities to enhance EP mapping systems.
BioSig Technologies (OTCQB: BSGM) has announced significant improvements to its balance sheet during Q2 2024. The company has successfully negotiated a reduction in accounts payable of approximately $1.5 million with multiple vendors. A major cost-saving measure includes the termination of the office lease for their former headquarters in Westport, Connecticut, effective July 15, 2024.
CEO Anthony Amato emphasized the importance of maintaining a strong and flexible balance sheet, especially in challenging market conditions. The company plans to continue working with additional vendors to further reduce payables and will update shareholders on progress. This financial restructuring is expected to provide BioSig with more flexibility in evaluating future opportunities.
BioSig Technologies (NASDAQ: BSGM) has appointed Ferdinand Groenewald as interim Chief Financial Officer and Principal Accounting Officer. Groenewald, a certified public accountant with extensive experience, is currently VP of Finance at Alaunos Therapeutics. He has held various senior financial roles in multiple companies, including SYLA Technologies, HeartCore Enterprises, and Muscle Maker Development. BioSig's CEO, Anthony Amato, highlighted Groenewald's financial expertise as a valuable asset for driving strategic decisions and increasing shareholder value. BioSig's technology focuses on enhancing cardiac signal visualization to improve cardiac ablation procedures.
BioSig Technologies announced the closing of a $3 million registered direct offering, priced at-the-market under Nasdaq rules. The offering included 1,570,683 shares of common stock at $1.91 per share and private placement unregistered warrants to purchase the same number of shares at $1.78 per share. The unregistered warrants are immediately exercisable and will expire in five years. H.C. Wainwright & Co. acted as the exclusive placement agent for the offering. The gross proceeds were approximately $3 million before deducting fees and expenses. BioSig plans to use the net proceeds for working capital and general corporate purposes.
BioSig Technologies (NASDAQ: BSGM) announced a $3 million registered direct offering, pricing its 1,570,683 shares at $1.91 each. Concurrently, it will issue unregistered warrants to purchase an equivalent number of shares at $1.78 per share, exercisable immediately and expiring in five years. The offering, closing around May 30, 2024, aims to raise funds for working capital and corporate purposes. H.C. Wainwright & Co. is the exclusive placement agent, and the offering follows a shelf registration filed with the SEC.
BioSig Technologies CEO, Anthony Amato, has issued a letter to shareholders detailing recent advancements and future plans for the company. Over the past two months, BioSig has appointed a new, experienced Board of Directors and is forming a Business Advisory Board to assess business opportunities and potential mergers. The company remains focused on its core PURE EP™ Biomedical Signal Processing Technology and is actively pursuing AI-related initiatives. BioSig has regained compliance with Nasdaq's minimum bid price requirement and presented to the Nasdaq Hearings Panel to address other compliance issues. The company is optimistic about its growth prospects and is committed to enhancing shareholder value.
BioSig Technologies, Inc. announced new appointments to its board of directors, now fully constituted with 5 members, 3 independent. The company aims for compliance with U.S. Exchange regulations, bringing in directors with diverse industry experience to create lasting shareholder value.
BioSig Technologies, Inc. appointed Mr. Anthony Amato as the Chief Executive Officer and member of the Board of Directors to accelerate the implementation of a comprehensive turnaround strategy. Mr. Amato brings a wealth of experience in business leadership and management. The Company aims to unlock substantial value through its core product line, PURE EP™, and plans to update shareholders on further developments.
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