BioSig Issues October 2020 Shareholder Update Letter
October 28 2020 - 10:00AM
- Company’s PURE EP™ System’s data-driven
commercialization is gaining acceptance through new evaluative
installations at medical centers of excellence
- The strongest cash balance in its history positions the
Company well to execute on its strategic goals.
BioSig Technologies, Inc. (NASDAQ: BSGM) (“BioSig” or the
“Company”), a medical technology company commercializing a
proprietary biomedical signal processing platform designed to
improve signal fidelity and uncover the full range of ECG and
intra-cardiac signals, today announced that the Company had issued
an October 2020 Letter to Shareholders providing highlights on the
Company’s recent developments and updates.
Recent Company Highlights include:
- Updates on the PURE EP™ System, which was recently installed at
Massachusetts General Hospital (MGH) and the Hospital of the
University of Pennsylvania for evaluation – two major clinical and
research hubs on the East Coast, regarded for their outstanding
contributions to medical innovation. The company reports that
several other clinical sites are due to receive BioSig’s technology
in the coming months, and the Company is on track to install PURE
EP™ in up to ten hospitals across the country by year-end.
- The Company’s experienced clinical and commercial team is
paving the way towards sales and revenues, continuing to engage
more clinical sites, conduct new installations for technology
evaluations and clinical data collection, and drive physician
engagement.
- BioSig recently announced the acceptance of two manuscripts,
including a study abstract featuring robust clinical data collected
with the PURE EP™ System. The data were reviewed in a blinded,
independent analysis and presented at the European Society of
Cardiology’s ESC Congress 2020.
- In 2020, BioSig raised $39 million and, as of June 30, 2020,
had $36.9 million in cash on its balance sheet, placing it in the
strongest financial position of its corporate history.
- Since this letter's original mailing, the Company announced
that its ViralClear subsidiary halted its Phase 2 COVID-19
trial and that it will not continue the development of merimepodib;
therefore much of the information regarding ViralClear in this
letter is out of date. Click here to read the full version of
the October 26, 2020 announcement.
“We believe that BioSig is in a strong position to expand our
business headed into 2021,” stated Kenneth L. Londoner, Founder,
Chairman, and CEO of BioSig Technologies, Inc. “We entered the
final stretch of 2020 with a healthy balance sheet with ample cash
and no debt and notable corporate and clinical achievements,
including new evaluative deployments of the PURE EP™ System at
leading medical centers across the country. The strength of our
sales and marketing team allows us to drive commercial adoption of
the PURE EP™ System. At the same time, we continue developing an
additional product pipeline to complement our core technology
further and strengthen its competitive positioning for years to
come. Our company demonstrated strong operational progress in some
of the most challenging economic and social conditions, delivering
on multiple catalysts in 2020 and building a foundation for robust
growth in 2021.”
To view the Company’s Shareholder Letter in its entirety, please
visit https://ir.biosig.com. About BioSig
Technologies BioSig Technologies is a medical technology
company commercializing a proprietary biomedical signal processing
platform designed to improve signal fidelity and uncover the
full range of ECG and intra-cardiac
signals (www.biosig.com).
The Company’s first product, PURE EP (tm) System is a
computerized system intended for acquiring, digitizing, amplifying,
filtering, measuring and calculating, displaying, recording and
storing of electrocardiographic and intracardiac signals for
patients undergoing electrophysiology (EP) procedures in an EP
laboratory.
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) the geographic, social and economic impact of
COVID-19 on our ability to conduct our business and raise capital
in the future when needed, (ii) our inability to manufacture our
products and product candidates on a commercial scale on our own,
or in collaboration with third parties; (iii) difficulties in
obtaining financing on commercially reasonable terms; (iv) changes
in the size and nature of our competition; (v) loss of one or more
key executives or scientists; and (vi) difficulties in securing
regulatory approval to market our products and 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.
Andrew Ballou
BioSig Technologies, Inc.
Vice President, Investor Relations
54 Wilton Road, 2nd floor
Westport, CT 06880
aballou@biosigtech.com
203-409-5444, x133
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