Monday, May 23, 2022
BioSig Technologies (BSGM)
1Q Short Of Expectations But Signal Strength Improving
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.
Gregory Aurand, Senior Research Analyst, Healthcare Services & Medical Devices, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Company filed 1Q 2022. Last week BioSig released its 10-Q for 1Q 2022. The company recorded no PURE EP unit sales in the quarter, below our expectations of three units. The Company received strong signals from facilities, but contracts were not signed by the end of the quarter. We expect agreements in the second quarter. Total expenses, reduced by overhead reduction, ran higher than our expected levels as the company added back staff as part of its commercial buildout and official June 1st rollout.
ATM agreement filed. In preparation for the commercial buildout for PURE EP, and general corporate purposes, BioSig also filed an At-The-Market (ATM) agreement for up to $10 million in common stock. We had expected a capital raise in the second half of 2022.
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This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).
*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.
