Westport, CT, May 30, 2024 (GLOBE NEWSWIRE) -- BioSig Technologies, Inc. (NASDAQ: BSGM) ("BioSig" or the "Company") a medical technology company committed to delivering unprecedented accuracy and precision to intracardiac signal visualization, today announced the closing of its previously announced registered direct offering priced at-the-market under Nasdaq rules of an aggregate of 1,570,683 shares of its common stock at a purchase price of $1.91 per share and concurrent private placement unregistered warr ...

Westport, CT, May 21, 2024 (GLOBE NEWSWIRE) -- BioSig Technologies, Inc. (Nasdaq: BSGM) ("BioSig" or "Company"), a medical technology company delivering unprecedented accuracy and precision to intra- cardiac signal visualization, has today issued the following Letter to Shareholders: Dear Shareholders, As the new CEO of BioSig, I am committed to keeping our shareholders updated to the best of my ability on the progress of our Company. Our new management team is firmly committed to both restoring and creatin ...

Core Viewpoint - BioSig Technologies, Inc. is focused on enhancing shareholder value through new management initiatives and operational improvements, particularly in its PURE EP™ Biomedical Signal Processing Technology [1][4]. Group 1: Management and Governance - The newly assembled Board of Directors includes five experienced individuals, with three serving as independent directors, and all committees have been fully constituted [3]. - A revamped Business Advisory Board is being formed to explore business opportunities and potential mergers and acquisitions [3]. Group 2: Operational Focus - Despite recent leadership changes, the company remains committed to its core business and continues to maintain partnerships with major institutions in the electrophysiology sector [4]. - The company is actively working to demonstrate the value of its PURE EP platform to stakeholders and shareholders [4]. Group 3: Technology and Innovation - BioSig sees significant opportunities in the AI sector, particularly in generative data compilation and commercialization through proprietary algorithms for interventional cardiology [5]. - The PURE EP™ Platform is an FDA 510(k) cleared non-invasive class II device that enhances real-time signal visualization for cardiac ablation procedures [8]. Group 4: Compliance and Financial Health - The company presented to the Nasdaq Hearings Panel and has regained compliance with the minimum bid price requirement [6]. - Ongoing updates will be provided to shareholders regarding compliance issues following the hearing [6].

25 BioSig AI is obligated to pay Reified a monthly consulting fee of $30,000. At March 31, 2024 December 31, 2023, accounts payable due under the contract was $90,000. As of March 31, 2024, the Company had aggregate purchase commitments of approximately $1,759,385 for future services or products, some of which are subject to modification or cancellations. On February 22, 2024, the Company received a threat of litigation seeking restitution for losses resulting from unlawful actions taken by the Company's bo ...

Westport, CT, May 03, 2024 (GLOBE NEWSWIRE) -- BioSig Technologies, Inc. (NASDAQ:BSGM) or ("BioSig" or "the Company"), a medical technology company delivering unprecedented accuracy and precision to intra-cardiac signal visualization, today announced new appointments to its now fully constituted board of directors (the "Board"), which is comprised of a total of five (5) directors, three (3) of whom are classified as independent directors. The final compositions of the committees to the Board will be determi ...

Westport, CT, April 30, 2024 (GLOBE NEWSWIRE) -- BioSig Technologies, Inc. (NASDAQ:BSGM) or ("BioSig" or "the Company"), a medical technology Company delivering unprecedented accuracy and precision to intra-cardiac signal visualization, today announced the appointment of Mr. Anthony Amato to the Position of Chief Executive Officer ("CEO"), effective immediately.  Additionally, Mr. Amato will serve on the Company's Board of Directors, which is currently being assembled.  Recall, that on April 4, 2024, the Co ...

Financial Performance - For the twelve months ended December 31, 2023, the net loss available to common stockholders was $29,050, an increase of $1,779 or 6.5% compared to a net loss of $27,271 for the same period in 2022[90]. - The Company has generated minimal revenue to date and has incurred net losses and negative cash flows from operations since inception, indicating a need for additional financing to fund future operations[92]. - Total revenue for 2023 was $18,000, a decrease of 93.7% compared to $286,000 in 2022[187]. - Gross profit for 2023 was $18,000, down from $229,000 in 2022, reflecting a significant decline in product revenue[187]. - Operating expenses increased to $28,530, up 3.8% from $27,494 in 2022, driven by higher general and administrative costs[187]. - Net loss attributable to BioSig Technologies, Inc. for 2023 was $29,041, compared to a net loss of $27,052 in 2022, representing a 7.3% increase in losses[187]. - Net loss per common share, basic and diluted, improved to $(3.95) in 2023 from $(6.33) in 2022[187]. - Cash used in operating activities for 2023 was $17,313, a decrease from $21,705 in 2022, indicating improved cash management[193]. - Research and development expenses for 2023 were $5,092, down from $5,821 in 2022, reflecting a strategic focus on cost management[187]. - The accumulated deficit increased from $215,974,000 in 2022 to $245,015,000 in 2023, reflecting a rise of approximately 13%[182]. Capital and Financing - In 2023, the Company raised a total of $13,140,441 through the sale of 1,613,906 shares of common stock at an average price of $8.7571 per share, along with warrants for 806,981 shares at an average exercise price of $8.1324[98]. - The Company sold 699,693 shares in a registered direct offering on November 8, 2023, at a purchase price of $3.573 per share, generating net proceeds of approximately $2.2 million after fees and expenses[100][103]. - Cash provided by financing activities totaled $17,332, including $15,301 from the sale of common stock, compared to $8,283 in the previous year[114]. - The Company entered into a Controlled Equity Offering Sales Agreement with Cantor Fitzgerald to sell up to $30 million of common stock, but terminated this agreement on September 15, 2023[105][110]. - The Company issued a promissory note for $500,000 on March 7, 2024, with a 12% interest rate due in 2026[111][112]. - The Series C Preferred Stock has an aggregate stated value of $105,000 as of December 31, 2023, with potential triggering events that may require redemption[117]. - The Company sold 28,911 shares through the Ascendiant Sales Agreement for $60,876, after incurring transactional costs of $70,806[109]. - The company raised gross proceeds of $1,040,000 from a securities purchase agreement on January 12, 2024, selling 260,720 shares at $3.989 per share[139]. Operational Challenges - The Company is facing potential delisting from Nasdaq due to non-compliance with minimum bid price and stockholders' equity requirements, with a hearing scheduled for May 7, 2024[76][79]. - The Company has laid off its entire workforce except for the CEO due to a lack of funding, currently operating with only 4 employees and 4 key consultants[83][84]. - The Company had a working capital deficit of $(4,054) as of December 31, 2023, with cash of $190 compared to $357 at the end of 2022[114]. - As of December 31, 2023, the company had cash of $0.2 million and a working capital deficit of $4.1 million, raising substantial doubt about its ability to continue as a going concern[205]. - The company has experienced net losses and negative cash flows from operations since inception and expects these conditions to continue for the foreseeable future[206]. Product Development and Market Potential - The PURE EP™ System, the Company's first product, is designed to enhance clinical decision-making and improve workflow for various arrhythmias, integrating with existing systems in electrophysiology labs[66][67]. - The Company launched PURE EP™ Software Version 7 in late 2023, representing the most advanced iteration of its digital signal processing technology[69]. - The global electrophysiology market is projected to grow from over $8 billion in 2023 to $16 billion by 2028, representing a CAGR of 15%[157]. - The company believes that the PURE EP™ System may improve outcomes during EP studies and ablation procedures for various arrhythmias[159]. - The company anticipates an increasing proportion of diagnosed AF cases being treated via ablation as physician confidence and device efficacy improve[161]. - The PURE EP™ System has been used in over 3,000 procedures across 21 hospitals in the United States[224]. - The company reported a 75% overall improvement in intracardiac signal quality when using the PURE EP System compared to conventional sources[223]. - The method used by conventional recorders may contribute to the need for multiple ablation procedures, impacting patient treatment outcomes[236]. Subsidiary and Partnerships - As of April 15, 2024, the Company retains a 69.08% ownership in its subsidiary ViralClear Pharmaceuticals, which was formed to pursue applications of the PURE EP™ technology outside of cardiac electrophysiology[62]. - ViralClear retains 69.08% ownership and is focusing on developing a novel nerve recording system based on the PURE EP™ signal processing technology[239]. - The company has partnered with Plexus Corp for the design, development, and manufacturing of N-SENSE™[245]. - The company signed a research agreement with the University of Minnesota to develop novel therapies for sympathetic nervous system diseases[243]. Regulatory and Compliance - The PURE EP™ System received FDA 510(k) clearance in August 2018, enabling its market introduction[168]. - The company is assessing the impact of recent accounting pronouncements, including ASU 2023-09, which will affect disclosures starting in 2025[121]. - The company plans to appeal the Nasdaq delisting determination, with a hearing scheduled for May 7, 2024[203].

Westport, CT, April 04, 2024 (GLOBE NEWSWIRE) -- BioSig Technologies, Inc. (NASDAQ:BSGM) ("BioSig" or the "Company"), a medical technology company delivering unprecedented accuracy and precision to intracardiac signal visualization, announced today that it appointed Bridge Associates International Pharmaceutical Consulting (BAIPC) to advise on business model strategies.  BAIPC will work to deploy a series of solutions to transform BioSig's future course with additional strategies - including operations, sta ...

Westport, CT, Feb. 06, 2024 (GLOBE NEWSWIRE) -- BioSig Technologies, Inc. (NASDAQ:BSGM) ("BioSig" or the "Company"), a medical technology company committed to delivering unprecedented accuracy and precision to intracardiac signal visualization, today announced that physicians have completed over 100 cases with the Near Field Tracking ("NFT") algorithm, an innovative and proprietary feature recently launched on the Company's PURE EP™ Platform.  Available by subscription, PURE EP™'s NFT algorithm monitors cha ...

Westport, CT, Jan. 31, 2024 (GLOBE NEWSWIRE) -- BioSig Technologies, Inc. (NASDAQ:BSGM) ("BioSig" or the "Company"), a medical technology company committed to delivering unprecedented accuracy and precision to intracardiac signal visualization, today announced that it intends to effect a reverse stock split of its common stock at a ratio of 1 post-split share for every 10 pre-split shares. The reverse stock split will become effective at 4:05 p.m. New York Time on Thursday, February 1, 2024. BioSig's common ...