BioSig Regains Compliance With All Nasdaq Listing Standards
February 22 2023 - 7:30AM
BioSig Technologies, Inc. (NASDAQ: BSGM) ("BioSig" or the
"Company"), an advanced digital signal processing technology
company delivering unprecedented accuracy and precision to
intracardiac signal visualization with its proprietary PURE EP™
System, announced today that it has received written notice from
the Nasdaq Listing Qualifications Staff of the Nasdaq Stock
Market LLC ("Nasdaq") notifying the Company that it has
regained compliance with the minimum bid price requirement under
Nasdaq Listing Rule 5550(a)(2) for continued listing on Nasdaq
because the bid price of the Company’s common stock closed at or
above $1.00 per share for a period of 10 consecutive business days,
from February 6, 2023 to February 17, 2023.
In addition, on February 21, 2023, the Company received a second
written notice from Nasdaq notifying the Company that compliance
with Nasdaq Listing Rule 5550(b) was regained by meeting an
alternative compliance standard related to the market value of
listed securities (“MVLS”) because the Company’s MVLS had been $35
million or greater for a period of 11 consecutive business days,
from January 31, 2023 to February 17, 2023. Per the notices, Nasdaq
considers both matters closed.
About the PURE EP™ SystemThe PURE EP™ System is
a combination of hardware and software that enables the real-time
acquisition of raw signal data—absent of unnecessary noise or
interference—allowing physicians to make informed clinical
decisions based on clear and precise data. With the heightened
visualization of active signals, the PURE EP™ System is
facilitating personalized patient care and innovations in the field
of electrophysiology.
About BioSig Technologies, Inc.BioSig
Technologies is an advanced digital signal processing
technology company bringing never-before-seen insights to the
treatment of cardiovascular arrhythmias. Through collaboration with
physicians, experts, and healthcare leaders across the field of
electrophysiology (EP), BioSig is committed to addressing
healthcare's biggest priorities — saving time, saving costs, and
saving lives.
The Company's first product, the PURE EP™ System, an FDA 510(k)
cleared non-invasive class II device, provides superior, real-time
signal visualization allowing physicians to perform insight-based,
highly targeted cardiac ablation procedures with increased
procedural efficiency and efficacy.
The PURE EP™ System is currently in a national commercial
launch and an integral part of well-respected healthcare systems,
such as Mayo Clinic, Texas Cardiac Arrhythmia Institute, Cleveland
Clinic, and Kansas City Heart Rhythm Institute. In a blinded
clinical study recently published in the Journal of
Cardiovascular Electrophysiology, electrophysiologists rated PURE
EP™ as equivalent or superior to conventional systems for 93.6% of
signal samples, with 75.2% earning a superior rating.
The global EP market is projected to reach $16B in 2028 with an
11.2% growth rate.1
Forward-looking StatementsThis press release
contains "forward-looking statements." 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) the geographic, social and economic impact of
COVID-19 on our ability to conduct our business and raise capital
in the future when needed, (ii) our inability to manufacture our
products and product candidates on a commercial scale on our own,
or in collaboration with third parties; (iii) difficulties in
obtaining financing on commercially reasonable terms; (iv) changes
in the size and nature of our competition; (v) loss of one or more
key executives or scientists; and (vi) difficulties in securing
regulatory approval to market our products and product candidates.
More detailed information about the Company and the risk factors
that may affect the realization of forward-looking statements is
set forth in the Company’s filings with the Securities and Exchange
Commission (SEC), including the Company’s Annual Report on Form
10-K and its Quarterly Reports on Form 10-Q. 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.
1 Global Market Insights Inc. March 08, 2022.
Andrew Ballou
BioSig Technologies, Inc.
Vice President, Investor Relations
55 Greens Farms Road, 1st Floor
Westport, CT 06880
aballou@biosigtech.com
203-409-5444, x133
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