Electrophysiology player BioSig Technologies is set to start trading on the small-cap Nasdaq Capital Market.
The uplisting from an over-the-counter securities exchange comes one month after BioSig’s device for acquiring cardiac signals, PURE EP System, gained 510(k) clearance from the FDA.
BioSig thinks its presence on Nasdaq Capital Market will expand its investor base at a time when it is gearing up to invest in the commercialization of the device system.
Cardiac electrophysiologists seek to diagnose abnormal heartbeats, also known as arrhythmia, by assessing the electrical activity of the heart. The electrical activity is collected by electrodes that are passed along catheters into the heart. This method is well suited to the capture of large amplitude, low-frequency signals seen in arrhythmias such as atrial flutter and supraventricular tachycardia.
However, as BioSig sees it, the current technology struggles to see the low amplitude, high-frequency signals that characterize atrial fibrillation and ventricular tachycardia. Untreated, these conditions are associated with a higher risk of stroke and contribute to more than 150,000 deaths a year in the U.S. Ablation of the tissue responsible for the abnormal electrical current can address the problem, but the accuracy of this treatment rests on the physician's ability to zero in on the problem area.
Having developed PURE EP System to address this problem, BioSig is uplisting its stock in pursuit of the investors it will need to turn the device into a commercial success.
“Our management and the board of directors believe that listing on the Nasdaq enables us to expand our shareholder base and provide access to a broader range of institutional investors worldwide as we commence targeted commercialization in the U.S., ultimately leading to the increase of shareholder value,” BioSig CEO Kenneth Londoner said in a statement.
BioSig developed the system to make it easier for physicians to identify the tissue that needs to be ablated. Whereas conventional electrophysiology systems put the electrical signal through many filters, amplifiers and converters before displaying a readout, PURE EP System records the raw signal. BioSig contends this approach will reduce information loss, enabling physicians to quickly identify signals of interest.
The stock will start trading on Nasdaq Capital Market on Friday.