BioSig Technologies’ Common Stock to Resume Trading on the NASDAQ Exchange, Wednesday, October 23, 2024 After Its Successful Appeal to the NASDAQ Panel

Rhea-AI Summary

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.

Positive

• Successful appeal to NASDAQ Panel, allowing resumption of trading on NASDAQ Capital Market Exchange
• Granted extension until March 7, 2025, to meet MVLS requirement
• FDA 510(k) cleared PURE EP™ Platform for cardiac signal visualization

Negative

• Previously non-compliant with NASDAQ's Market Value of Listed Securities requirement
• Challenging year for the company, as mentioned by CEO

Insights

Financial Analyst

BioSig Technologies' successful appeal to regain NASDAQ listing is a significant development for the company. Returning to NASDAQ from OTCQB typically improves liquidity, visibility and access to capital for small-cap companies like BioSig. The 360-day grace period until March 7, 2025, to meet the Market Value of Listed Securities requirement provides important breathing room.

However, investors should note that this extension doesn't resolve the underlying issue of the company's market value. BioSig will need to demonstrate substantial business improvements or attract significant investor interest to meet the MVLS requirement and maintain long-term NASDAQ compliance. The CEO's mention of an "extremely challenging year" and determination to "restore shareholder value" suggests ongoing difficulties that require careful monitoring.

While the NASDAQ relisting is positive, it's important to consider BioSig's current $3.67 million market cap, which is extremely low for a NASDAQ-listed company. This indicates significant challenges ahead and a high-risk profile for investors. The company's ability to capitalize on this opportunity and improve its financial position will be critical in the coming months.

Medical Technology Expert

BioSig's PURE EP™ Platform, with its FDA 510(k) clearance, represents a potentially valuable asset in the cardiac electrophysiology market. The platform's promise of "unprecedented cardiac signal clarity" addresses a critical need in cardiac ablation procedures, which could translate to improved patient outcomes and healthcare cost savings if widely adopted.

However, the company's extremely low market capitalization suggests that the market is not yet convinced of the technology's commercial viability or the company's ability to scale effectively. The challenge for BioSig will be to demonstrate clinical efficacy, cost-effectiveness and market adoption of its PURE EP™ Platform.

Investors should watch for key performance indicators such as installation numbers, procedure volumes and revenue growth from the PURE EP™ system. Additionally, any new clinical data or partnerships with major healthcare providers could significantly impact the company's prospects. The NASDAQ relisting provides a platform for increased visibility, but the company must now deliver tangible results to justify its position and attract institutional investment.

Los Angeles, CA, Oct. 22, 2024 (GLOBE NEWSWIRE) -- BioSig Technologies, Inc. (OTCQB: BSGM) (“BioSig” or the “Company"), a medical technology company delivering unprecedented accuracy and precision to intra-cardiac signal visualization, today announced its successful appeal to the NASDAQ Panel, and as a result the Company’s common stock will resume trading on the NASDAQ Capital Market Exchange at the open of trading on Wednesday, October 23, 2024. The Company was granted an extension until March 7, 2025, a 360-day grace period from the point at which the Market Value of Listed Securities (“MVLS”) requirement previously became non-compliant.

BioSig’s CEO, Anthony Amato stated, “We’d like to thank Nasdaq and its leadership for their diligence and attention to detail working through the complexity of our case. We additionally would like to extend our gratitude and appreciation to our attorneys and advisors who provided us with excellent guidance during this appeal. Lastly, I would like to thank our many shareholders for their continued support during this extremely challenging year. This is a very positive development for our company, as we are determined to restore shareholder value.”

About BioSig Technologies, Inc. (BSGM)

BioSig Technologies is a medical technology company focused on deciphering the body’s electrical signals, starting with heart rhythms. By leveraging a first of its kind software, we deliver unprecedented cardiac signal clarity, ending the reliance on ‘mixed signals’ and ‘reading between the lines.’ Our platform technology is addressing some of healthcare’s biggest challenges—saving time, saving costs, and saving lives.

The Company’s FDA 510(k) cleared PURE EP™ Platform, provides superior, real-time signal visualization allowing physicians to perform highly targeted cardiac ablation procedures with increased procedural efficiency and efficacy.

Forward-Looking Statements

This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements may be preceded by the words "intends," "may," "will," "plans," "expects," "anticipates," "projects," "predicts," "estimates," "aims," "believes," "hopes," "potential" or similar words. Forward-looking statements are not guarantees of future performance, are based on certain assumptions, and are subject to various known and unknown risks and uncertainties, many of which are beyond the Company's control, and cannot be predicted or quantified and consequently, actual results may differ materially from those expressed or implied by such forward-looking statements. Such risks and uncertainties include, without limitation, risks and uncertainties associated with (i) our cost reduction plan and associated workforce reduction or other cost-saving measures not reaching the targeted reduction of cash burn by 50%; (ii) the geographic, social, and economic impact of pandemics or worldwide health issues on BioSig’s ability to conduct its business and raise capital in the future when needed; (iii) BioSig’s inability to manufacture its products and product candidates on a commercial scale on its own, or in collaboration with third parties; (iv) difficulties in obtaining financing on commercially reasonable terms; (v) changes in the size and nature of BioSig’s competition; (vi) loss of one or more key executives or scientists; and (vii) difficulties in securing regulatory approval to market BioSig’s products and product candidates. For a discussion of other risks and uncertainties, and other important factors, any of which could cause BioSig’s actual results to differ from those contained in forward-looking statements, see BioSig’s filings with the Securities and Exchange Commission (“SEC”), including the section titled “Risk Factors” in BioSig’s Annual Report on Form 10-K, filed with the SEC on April 16, 2024. Investors and security holders are urged to read these documents free of charge on the SEC's website at http://www.sec.gov. The Company assumes no obligation to publicly update or revise its forward-looking statements as a result of new information, future events or otherwise, except as required by law.

FAQ

When will BioSig Technologies (BSGM) resume trading on NASDAQ?

BioSig Technologies (BSGM) will resume trading on the NASDAQ Capital Market Exchange on Wednesday, October 23, 2024.

What extension has NASDAQ granted to BioSig Technologies (BSGM)?

NASDAQ has granted BioSig Technologies (BSGM) an extension until March 7, 2025, to meet the Market Value of Listed Securities (MVLS) requirement.

What is BioSig Technologies' (BSGM) main product?

BioSig Technologies' (BSGM) main product is the FDA 510(k) cleared PURE EP™ Platform, which provides real-time signal visualization for cardiac ablation procedures.

How long is the grace period given to BioSig Technologies (BSGM) by NASDAQ?

NASDAQ has given BioSig Technologies (BSGM) a 360-day grace period from the point at which the Market Value of Listed Securities (MVLS) requirement previously became non-compliant.