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Business Expansion and Value
BioSig Technologies, Inc. (NASDAQ: BSGM) is a medical technology company. Their flagship product, PURE EP™ System is a computerized system intended for acquiring, digitizing, amplifying, filtering, measuring, and calculating, displaying, recording, and storing electrocardiographic and intracardiac signals for patients undergoing electrophysiology (EP) procedures.
Current price $3.26/share (at market close 11-15-21)
This is the third time I’ve talked about BioSig this year, the last time being at the end of June. There are two reasons I want to talk about BSGM right now with the first being the golden cross formation in the chart. Both times we reported on BSGM this year, the company’s value increased. The shares aren’t at their 2021 bottom, which happened last month but now they have started to trend.
The second reason I want to report on BSGM right now is that BSGM has made tremendous strides in the placement of their flagship product, PURE EP™ System in clinics across the country this year (more on that below) and has begun to generate revenues, $325K over Q1 and Q2 and I anticipate Q3 results soon.
Looking at the company stock chart, I note that in the past two weeks, the share price has crossed the 20 day SMA of $2.90 and the 50 SMA of $2.84 while fast closing in on the 200 SMA of $3.63. While this movement indicates the shares are trending, it may also indicate a near term breakout. Remember the 52-week high is $6.14/share. This is the momentum in company valuation we mentioned above.
The company’s flagship PURE EP™ System is an advanced monitoring system currently used primarily for cardiac ablation procedures in patients with AFIB (atrial fibrillation) a quivering or irregular heartbeat (arrhythmia) that can lead to blood clots, stroke, heart failure and other heart-related complications. The PURE EP™ System is an FDA 510(k) cleared non-invasive class II device.
As to their business expansion, BSGM just installed a PURE EP™ System for an evaluation at the HCA Healthcare-operated Medical City Heart Hospital in Dallas, TX. This is the Company’s 17th installation. To date, over 71 physicians have completed over 1600 patient cases with the PURE EP™ System. In 2020 the number of patient cases was only 425.
Clinical data acquired by the PURE EP™ System in a multi-center study at Texas Cardiac Arrhythmia Institute at St. David’s Medical Center, Mayo Clinic Jacksonville and Massachusetts General Hospital was recently published in the Journal of Cardiovascular Electrophysiology and is available electronically with open access via the Wiley Online Library. I want to note that BSGM has a long-term relationship with the Mayo Clinic in the development of the PURE EP™ System.
Study results showed 93% consensus across the blinded reviewers with a 75% overall improvement in intracardiac signal quality and confidence in interpreting PURE EP™ signals over conventional sources. The publication of the data and a subsequent roundtable webinar discussion of the data held last week, may function as a significant catalyst for the company.
If you’re a newer member to our group, I’ve included a link to data on BSGM technology including the company website, and quick link to a company fact sheet. Also, a discussion of the BSMG momentum and expansion in a video interview with CEO Kenneth Londoner from earlier this month. I’m adding a link to the Q2 form 10-Q though a Q3 report is expected in the near term. You will also find a company description at the bottom of this page.
Last month BSGM signed a manufacturing and professional services agreement with Plexus Corp. (PLXS). Under the terms of the newly reached agreement, Plexus will bring to market the PURE EP™ System, the Company’s signal processing technology for arrhythmia care, and develop a new product pipeline for BioSig’s subsidiary NeuroClear Technologies, Inc. The signing of this manufacturing agreement is yet another potential catalyst in the near-term growth coming for BSGM.
BSGM maintains a small share structure with 34.9M shares outstanding and 30.4M shares in the public float. The company’s last reported balance sheet at the end of June 2021, indicated zero debt and cash of $15.5M.
Stay tuned for a full report on BioSig Technologies.
The Traders News Breakout Group