BioSig Technologies Inc (OTCMKTS:BSGM) stock saw a nice +5% bump Thursday on some interesting news. BSGM is closing in on commercializing their PURE EP system, which helps electrophysiologists diagnose abnormal heart rhythms. This not exactly a niche market, either. Reports suggest that it could balloon to $8.2M by 2022.
Mr. Kenneth Londoner, CEO & Chairman of BSGM, commented, “Management is confident that we established a strong foundation for future growth while completing the tasks required to achieve commercialization. Our novel technology, coupled with our strategic management hires and long standing clinical relationships have positioned us to bring our PURE EP System to the global EP market in 2018. Going forward, we will continue to establish and leverage strategic relationships that will assist in the development and sale of our proprietary systems to this vastly underserved market.”
BioSig Technologies Inc (OTCMKTS:BSGM) bills itself as a medical device company that is developing a proprietary technology platform aimed at the rapidly growing $4 billion electrophysiology (EP) marketplace.
Led by a proven management team, world-class Board of Directors and Scientific Advisory Board, Minneapolis-based BioSig Technologies is preparing to commercialize its PURE EP System. PURE EP is a surface electrocardiogram (ECG) and intracardiac multichannel recording and analysis system designed to assist electrophysiologists in making crucial clinical decisions in real-time.
PURE EP acquires and displays high-fidelity cardiac signal recordings even at undetectable levels (until now) with high-accuracy to help identify appropriate catheter ablation targets – areas of tissue to destroy that otherwise create a heart rhythm disturbance (arrhythmia). PURE EP is an innovative platform, offering benefits over current technologies including increased accuracy, reduced noise and interference, clinical information previously not available and potential elimination of repeat procedures.
BioSig is collaborating with prestigious cardiac arrhythmia centers including Mayo Clinic, Mt Sinai, Texas Cardiac Arrhythmia Institute, UH Case Medical Center, and Bringham and Women’s Hospital to develop, refine and, ultimately, commercialize its novel information system.
According to company materials, “BioSig Technologies is a medical device company developing a proprietary technology platform designed to improve the $4 billion electrophysiology (EP) marketplace (www.biosigtech.com). Led by a proven management team and a veteran, independent Board of Directors, Minneapolis-based BioSig Technologies is preparing to commercialize its PURE EP(TM) System.”
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The Company recently received the first production units of the PURE EP System from its manufacturing partner. In addition to ongoing testing and development with current partners, BioSig has been demonstrating this system to select industry leaders. Additionally, they announced that Mr. Joseph W. Rafferty has joined BioSig Technologies and will serve as Chief Commercialization Officer. Joe adds more than 30 years of experience to BioSig and has assisted with the successful launch of a number of new technologies into the medical marketplace working for Johnson & Johnson, Boston Scientific, and CR Bard.
BSGM is a stock whose past is littered with sudden rips. Moreover, the stock has seen interest climb, with an increase in recent trading volume of well above its longer-run average levels.
Now commanding a market cap of $40.45M, BSGM is pre-revenue at this point, but is marching closer and closer to putting this product on the market. This may be a very interesting story and we will look forward to updating it again soon. For continuing coverage on shares of $BSGM stock, as well as our other hot stock picks, sign up for our free newsletter today and get our next hot stock pick!
Disclosure: We hold no position in $BSGM, either long or short, and we have not been compensated for this article.