BioSig Technologies’ Common Stock to Resume Trading on the NASDAQ Exchange, Wednesday, October 23, 2024 After Its Successful Appeal to the NASDAQ Panel

Rhea-AI Summary

BioSig Technologies, Inc. (OTCQB: BSGM) has successfully appealed to the NASDAQ Panel, resulting in the resumption of its common stock trading on the NASDAQ Capital Market Exchange on October 23, 2024. The company was granted an extension until March 7, 2025, providing a 360-day grace period to meet the Market Value of Listed Securities (MVLS) requirement.

CEO Anthony Amato expressed gratitude to Nasdaq, the company's attorneys, advisors, and shareholders for their support during this challenging year. He emphasized that this development is positive for the company and its commitment to restoring shareholder value.

BioSig Technologies is a medical technology company focused on deciphering electrical signals, particularly heart rhythms. Their FDA 510(k) cleared PURE EP™ Platform provides superior, real-time signal visualization for cardiac ablation procedures, aiming to improve efficiency and efficacy in healthcare.

Positive

• Successful appeal to NASDAQ Panel, allowing resumption of trading on NASDAQ Capital Market Exchange
• Granted extension until March 7, 2025, to meet MVLS requirement
• FDA 510(k) cleared PURE EP™ Platform for cardiac signal visualization

Negative

• Previously non-compliant with NASDAQ's Market Value of Listed Securities requirement
• Challenging year for the company, as mentioned by CEO

Los Angeles, CA, Oct. 22, 2024 (GLOBE NEWSWIRE) -- BioSig Technologies, Inc. (OTCQB: BSGM) (“BioSig” or the “Company"), a medical technology company delivering unprecedented accuracy and precision to intra-cardiac signal visualization, today announced its successful appeal to the NASDAQ Panel, and as a result the Company’s common stock will resume trading on the NASDAQ Capital Market Exchange at the open of trading on Wednesday, October 23, 2024. The Company was granted an extension until March 7, 2025, a 360-day grace period from the point at which the Market Value of Listed Securities (“MVLS”) requirement previously became non-compliant.

BioSig’s CEO, Anthony Amato stated, “We’d like to thank Nasdaq and its leadership for their diligence and attention to detail working through the complexity of our case. We additionally would like to extend our gratitude and appreciation to our attorneys and advisors who provided us with excellent guidance during this appeal. Lastly, I would like to thank our many shareholders for their continued support during this extremely challenging year. This is a very positive development for our company, as we are determined to restore shareholder value.”

About BioSig Technologies, Inc. (BSGM)

BioSig Technologies is a medical technology company focused on deciphering the body’s electrical signals, starting with heart rhythms. By leveraging a first of its kind software, we deliver unprecedented cardiac signal clarity, ending the reliance on ‘mixed signals’ and ‘reading between the lines.’ Our platform technology is addressing some of healthcare’s biggest challenges—saving time, saving costs, and saving lives.

The Company’s FDA 510(k) cleared PURE EP™ Platform, provides superior, real-time signal visualization allowing physicians to perform highly targeted cardiac ablation procedures with increased procedural efficiency and efficacy.

Forward-Looking Statements

This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. 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) our cost reduction plan and associated workforce reduction or other cost-saving measures not reaching the targeted reduction of cash burn by 50%; (ii) the geographic, social, and economic impact of pandemics or worldwide health issues on BioSig’s ability to conduct its business and raise capital in the future when needed; (iii) BioSig’s inability to manufacture its products and product candidates on a commercial scale on its own, or in collaboration with third parties; (iv) difficulties in obtaining financing on commercially reasonable terms; (v) changes in the size and nature of BioSig’s competition; (vi) loss of one or more key executives or scientists; and (vii) difficulties in securing regulatory approval to market BioSig’s products and product candidates. For a discussion of other risks and uncertainties, and other important factors, any of which could cause BioSig’s actual results to differ from those contained in forward-looking statements, see BioSig’s filings with the Securities and Exchange Commission (“SEC”), including the section titled “Risk Factors” in BioSig’s Annual Report on Form 10-K, filed with the SEC on April 16, 2024. 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, except as required by law.

FAQ

When will BioSig Technologies (BSGM) resume trading on NASDAQ?

BioSig Technologies (BSGM) will resume trading on the NASDAQ Capital Market Exchange on Wednesday, October 23, 2024.

What extension has NASDAQ granted to BioSig Technologies (BSGM)?

NASDAQ has granted BioSig Technologies (BSGM) an extension until March 7, 2025, to meet the Market Value of Listed Securities (MVLS) requirement.

What is BioSig Technologies' (BSGM) main product?

BioSig Technologies' (BSGM) main product is the FDA 510(k) cleared PURE EP™ Platform, which provides real-time signal visualization for cardiac ablation procedures.

How long is the grace period given to BioSig Technologies (BSGM) by NASDAQ?

NASDAQ has given BioSig Technologies (BSGM) a 360-day grace period from the point at which the Market Value of Listed Securities (MVLS) requirement previously became non-compliant.