SeeThruEquity Issues Update on BioSig Technologies, Inc. (OTCQB: BSGM)

NEW YORK, NY / ACCESSWIRE / July 21, 2016 / SeeThruEquity, a leading independent equity research and corporate access firm focused on smallcap and microcap public companies, today announced it has issued an update note on BioSig Technologies, Inc. (OTCQB: BSGM).

The report is available here: BSGM July 2016 Update Note. 

“As we have highlighted throughout our research coverage of BioSig, the company appears to operate in a strategic area of the medical device market, which has been marked by considerable merger and acquisition activities over the last several years, including heightened activity in the last 18 months,” commented Ajay Tandon, CEO of SeeThruEquity.

Additional highlights from the report include the following:

BioSig testing continues at Mayo Clinic; Progressing towards 510(k) submission

BioSig has made significant progress since our initiation of coverage in February, with management following through on many of the goals it outlined in its December 2015 year-end letter to shareholders. These include the further strengthening of its Board of Directors and Advisory Boards (which are notably strong for a company of its size), raising capital to advance its pipeline, and expanding its sponsored research activities with Dr. Asirvatham and his colleagues at Mayo Clinic. Still to come, BioSig management reiterated its plans to file its 510(k) submission with the FDA in early 2017, which would be a significant accomplishment for the company. We also believe the company is targeting an uplisting to a national exchange in the next 6 – 12 months, which, if accomplished would potentially improve share liquidity and access to institutional investors who cannot invest in OTC securities.

$4.5mn capital raise strengthens balance sheet

On May 2, 2016, BioSig announced that it had completed a $4.5mn private placement led by Laidlaw & Company (UK) in New York. Notably, insiders including members of BioSig’s management and Board, purchased 12.5% of the deal. As we indicated in our initiation of the company, we see the balance sheet as an important item to watch for BioSig, and the raise represents a key accomplishment for management. With the proceeds of the offering, which included the sale of 3mn shares of stock at $1.50 and 1.5mn 3-year warrants at a conversion price of $1.95, BioSig should have sufficient capital to advance its PURE EP Program towards commercialization. 

Maintain price target of $3.53 for BioSig

We have been encouraged by the progress made by BioSig since our initiation of coverage in February, and note that shares have risen by 57% since that time. We continue to like BioSig and the opportunities it is targeting in the growing $3.5 billion electrophysiology (EP) market. We maintain our price target of $3.53 for BioSig, which, if achieved, represents potential upside of 143.6% from the recent price of $1.45 on July 19, 2016.

Please review important disclosures at www.seethruequity.com. 

About BioSig Technologies, Inc.

BioSig Technologies is a medical device company that is developing a proprietary technology platform designed to improve the $3 billion electrophysiology (EP) marketplace(1) (www.biosigtech.com). Led by a proven management team and a veteran, independent Board of Directors, Minneapolis-based BioSig Technologies is preparing to commercialize its PURE EP System.

PURE EP System is a surface electrocardiogram and intracardiac multichannel recording and analysis system designed to assist electrophysiologists in making clinical decisions in real-time by acquiring and displaying high-fidelity cardiac signal recordings and providing clarity of data which may be used to guide the EPs in identifying ablation targets – areas of tissue to treat that otherwise create a heart rhythm disturbance (arrhythmia).

Analysts forecast the global market for EP devices will grow at a 12.1 percent compound annual growth rate, from $2.5 billion in 2012 to $5.5 billion by 2019(1) — making it one of the fastest growing medical device segments. Just in the US, the number of Atrial Fibrillation (AF) and Ventricular Tachycardia (VT) arrhythmia ablations is forecast to grow at 10.5 percent from 2012 to 2017(2).

BioSig intends to seek FDA 510(k) clearance for the PURE EP System. The Company has achieved proof of concept validation through UCLA labs, and has performed pre-clinical studies at the Mayo Clinic in Minnesota. The Company is collaborating with several of the nation’s most prestigious cardiac arrhythmia centers including Texas Cardiac Arrhythmia Institute, UCLA Cardiac Arrhythmia Center, and Mayo Clinic.

(1) Electrophysiology Devices Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 – 2019
(2) HRI 2013 “Global Opportunities in Medical Devices & Diagnostics” report; triangulation of multiple sources; *AF includes left atrial tachycardia, left WPW, left atrial flutter.

About SeeThruEquity

Since its founding in 2011, SeeThruEquity has been committed to its core mission: providing impactful, high quality research on underfollowed smallcap and microcap equities. SeeThruEquity has pioneered an innovative business model for equity research that is not paid for and is unbiased. SeeThruEquity is the host of acclaimed investor conferences that are the ultimate event for publicly traded companies with market capitalizations less than $1 billion.

SeeThruEquity is approved to contribute its research reports and estimates to Thomson One Analytics (First Call), the leading estimates platform on Wall Street, as well as Capital IQ and FactSet. SeeThruEquity maintains one of the industry’s most extensive databases of opt-in institutional and high net worth investors. The firm is headquartered in Midtown Manhattan in New York City. For more information visit www.seethruequity.com.

Contact:

Ajay Tandon
SeeThruEquity
info@seethruequity.com

SOURCE: SeeThruEquity

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