Santa Monica, CA, Aug. 01, 2018 (GLOBE NEWSWIRE) -- BioSig Technologies, Inc. (BSGM), a medical device company developing a proprietary biomedical signal processing platform designed to address an unmet technology need for the $4.6 billion electrophysiology (EP) marketplace, announced that it has applied to list the Company’s common stock on the Nasdaq Capital Market. Once accepted, the common shares will begin trading on the Nasdaq exchange. This is the Company’s second significant milestone this year after submitting FDA 510(k) application for its PURE EP™ System in March.
“We are extremely pleased to be underway with the process of uplisting from the OTC Market to the Nasdaq Capital Market,” stated Mr. Kenneth Londoner, Chairman and CEO of BioSig Technologies. "NASDAQ has proven to provide the best capital formation support to technology companies worldwide. The commitment of capital from shareholders and institutional investors has helped advance us towards meeting other criteria for uplisting to the Nasdaq. Management believes that listing on the NASDAQ will help to broaden our shareholder base, increase appeal to institutional investors, provide shareholders with better liquidity and, ultimately increase shareholder value as we advance through the 510(k) process with the FDA.”
The Company’s application for uplisting is subject to approval based on the ability to meet Nasdaq requirements. During the Nasdaq review process, the Company's common stock will continue to trade on the OTC Market under its current symbol, BSGM.
Analysts forecast the global market for EP devices will grow at a 12.1 percent compound annual growth rate to $5.5 billion by 2019, making it one of the fastest growing medical device segments. In the United States alone, the number of Atrial Fibrillation (AF) and Ventricular Tachycardia (VT) arrhythmia ablations is forecast to grow at 10.5 percent from 2012 to 2017.
About BioSig Technologies
BioSig Technologies is a medical technology company developing a proprietary biomedical signal processing platform designed to improve the $4.6 billion electrophysiology (EP) marketplace (www.biosigtech.com). Led by a proven management team and a veteran, independent Board of Directors, Los Angeles-based BioSig Technologies is preparing to commercialize its PURE EP™ System. The technology has been developed to address an unmet need in a large and growing market.
The Company’s first product, PURE EP™ System, is a novel cardiac signal acquisition and display system which is engineered to assist electrophysiologists in clinical decision making during procedures to diagnose and treat patients with abnormal heart rates and rhythms. BioSig’s main goal is to deliver technology to improve upon catheter ablation treatments for the prevalent and deadly arrhythmias, Atrial Fibrillation and Ventricular Tachycardia. BioSig has partnered with Minnetronix on technology development and is working toward FDA 510(k) clearance for the PURE EP™ System.
Forward-looking Statements
This 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) our inability to manufacture our product candidates on a commercial scale on our own, or in collaboration with third parties; (ii) difficulties in obtaining financing on commercially reasonable terms; (iii) changes in the size and nature of our competition; (iv) loss of one or more key executives or scientists; and (v) difficulties in securing regulatory approval to market our 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.