BioSig Technologies Inc (OTCMKTS:BSGM) is a micro-cap medical device play that has been on fire in the past week. Shares have powered as much as 40% higher since last week’s action. The primary catalyst for the move appears to be the company’s announcement that it has signed a ten-year strategic agreement with Mayo Clinic and Mayo Clinic Ventures. As noted in the release, the new, expanded collaboration with Mayo is an extension of a prior relationship that came together under the Advanced Clinical Research Program signed with Mayo nearly exactly twelve months ago.
According to the release, BioSig is expecting to team up with Drs. Samuel Asirvatham and K. L. Venkatachalam (leading electrophysiologists at Mayo) to beef up the company’s PURE EP System, in terms of features and applications. The company also plans to push its physiologic signal processing assets toward the cultivation of future technologies. BSGM execs are looking for expertise from Mayo as the process unfolds, as well as intellectual property and clinical support to the partnership. As for rights, according to the company’s announcement, IP will be handled jointly, suggesting USPTO joint filings as well.
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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Kenneth L. Londoner, Executive Chairman and Founder commented, “We are pleased to strengthen and broaden our relationship with Mayo Clinic and Mayo Ventures to grow our innovation capabilities and deliver superior medical technology.”
Greg Cash, President and CEO added, “Our experience working with Drs. Asirvatham and Venkatachalam has been outstanding and has resulted in three peer-reviewed publications to-date. Adding innovation and intellectual property to the equation should raise this collaboration to a whole new level, likely resulting in better diagnosis and treatment of complex arrhythmias in many patients.”
Traders will note 34% piled on for shareholders of the name during the trailing week. This is emblematic of the stock. 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 a bit less than 260% above its longer-run average levels.
This is particularly important with a float in play that’s limited — just a tad more than 11M shares. This type of thing is something to watch out for: ramping trading activity can overwhelm available supply in a stock with this type of small float, leading to an upward burst in prices.
Now commanding a market cap of $39.2M, BSGM has a stash ($150K) of cash on the books, which must be weighed relative to virtually no total current liabilities. The company is pre-revenue at this point. 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!