BioSig Technologies

BioSig Technologies today announced it appointed Anthony Amato as CEO, effective immediately.

Amato will serve on the company’s board of directors, which is currently being assembled. He joins the company from consulting firm Bridge Associates International Pharmaceutical Consulting (BAIPC).

Westport, Connecticut-based BioSig Technologies announced earlier this month that the company engaged with BAIPC as a “natural progression” for the company to make “meaningful progress toward restoring and creating lasting shareholder value.” Amato led BAIPC.

“Approximately 2 months ago, I took the initiative to review, analyze, and address the urgent issues that had the potential to negatively impact the company’s future,” Amato said in a news release. “Since then, important and material progress has been realized on multiple fronts, and I have accepted this new position to accelerate the implementation of the comprehensive …

BioSig Technologies (Nasdaq:BSGM) announced today that it terminated “a significant number of its employees.”

Shares of BSGM were up 3.1% to 64¢ apiece in mid-morning trading today following the announcement.

With this latest workforce reduction, the company says it expects to “substantially reduce business operations.” Today’s announcement marks the company’s second significant headcount cut in less than one month.

Westport, Connecticut-based BioSig announced at the end of January that it enacted a workforce reduction to reduce cash burn. The company at the time did not disclose the number of employees affected by the reduction. As of the company’s last annual report on March 30, 2023, it had 47 full-time employees.

See the full list of layoffs in medtech since mid-2022 here.

During the previous round of layoffs, BioSig announced a shift in its business model. The company deve…

BioSig Technologies (Nasdaq:BSGM) announced today that it enacted a workforce reduction in an effort to reduce cash burn.

Westport, Connecticut-based BioSig did not disclose the number of employees affected by the reduction. As of the company’s last annual report on March 30, 2023, it had 47 full-time employees.

Shares of BSGM fell 4.3% to 21¢ apiece in early-morning trading today.

See the full list of layoffs in medtech since mid-2022 here.

The company says the action intends to reduce annual cash burn by 50%. It expects to complete the internal workforce reduction by Jan. 31.

Additionally, BioSig announced a shift in its business model. BioSig develops a biomedical signal processing platform for electrocardiogram (ECG) and intra-cardiac signals. Its Pure EP system combines hardware and software to enable the real-time acquisition of raw signal data. The technology achieves this absent of unnecessary noise or interference.

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BioSig Technologies (Nasdaq:BSGM) announced today that it received notice from the Nasdaq market that it regained compliance.

Westport, Connecticut-based BioSig regained compliance with the minimum bid price requirement. Shares of BSGM closed at or above $1 apeice for a period of 10 consecutive days earlier this month. The compliance period took place between Feb. 6 and Feb. 17.

Shares of BSGM currently sit at $1.29 apiece.

Additionally, Nasdaq notified the company that it complies with its listing rule by meeting an alternative standard. That standard relates to the market value of listed securities (MVLS). BioSig’s MVLS stood at $35 million or greater for a period of 11 consecutive business days (Jan. 31, 2023, to Feb. 17, 2023).

Per the notices, Nasdaq considers both matters closed, BioSig said in a news release

BioSig develops a biomedical signal processing platform for electrocardiogram (ECG) and intra-cardiac signals. Its Pure E…

BioSig Technologies (Nasdaq:BSGM) announced today that it priced a previously announced public offering at $3.5 million.

Westport, Connecticut-based BioSig’s best efforts, underwritten public offering totals up to 4,666,667 shares of its common stock, $0.001 par value per share, at a price to the public of $0.75 per share, bringing the gross proceeds to $3.5 million.

According to a news release, the company expects the offering to close on June 28, 2022, subject to customary closing conditions. Laidlaw & Company (UK) Ltd. is acting as the sole book-running manager for the offering.

BioSig, which develops a biomedical signal processing platform for electrocardiogram (ECG) and intra-cardiac signals, intends to use the net proceeds from the offering for commercialization activities related to its Pure EP system, including additional support for organizational development. Funds are also earmarked for working capital and for general corporate purpo…

BioSig Technologies (Nasdaq:BSGM) announced today that it entered into a definitive purchase agreement to sell $3 million in common stock.

Westport, Connecticut-based BioSig agreed to sell $3 million in common stock and warrants in the agreement led by a family office with expertise in small-cap emerging growth investing.

Under the agreement, BioSig will issue 2,611,739 shares of its common stock at a price of $1.15 per share and warrants to purchase 2,611,739 shares of the company’s common stock at $1.40 per share.

According to a news release, BioSig, which develops a biomedical signal processing platform for electrocardiogram (ECG) and intra-cardiac signals, expects the offering to close on or about March 23. Proceeds are earmarked to fund working capital and continue commercialization activities related to its Pure EP system.

BioSig said the funding, combined with existing capital, should constitute sufficient operating capital for the co…

BioSig Technologies today announced that it has appointed Gray Fleming as chief commercial officer.

Most recently, Fleming served as chief commercial officer at Carecube, which is developing a temporary and scalable negative pressure isolation technology.

“I am extremely excited to be returning to the electrophysiology arena and, most importantly, dedicating effort and energy towards supporting the fight against AFib. My experience offers me the luxury of understanding that without the signal, the procedure cannot be possible. I look forward to leading the team that can provide the cleanest signal in every electrophysiology laboratory in the world,” Fleming said in a news release.

Fleming has more than 20 years of experience in the healthcare industry. Prior to joining the company, he worked at Abbott Laboratories and St. Jude Medical. He held numerous commercial leadership positions at Abbott, including VP of cardiac sales.

“We are pleased to wel…