Tuesday, August 16, 2022

BioSig Technologies (BSGM)
2Q 2022 released; No Big Surprises, But Looking Forward

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.

2Q 2022 results were released. BioSig released second quarter results in its 10Q filing yesterday. As we previously removed second quarter PURE EP unit revenues (see note dated July 8, 2022), top-line reported in the quarter was no surprise.  The Company did generate $8,000 in service revenue in the quarter.

Expenses lower than expected. We had expected $6.8 million in operating expenses in the quarter, but BioSig reported $5.7 million due to General and Administrative expenses being $1.2 million lower. Diluted share count was 264k higher than our estimate at 39.823 million.  Net loss per share of $0.15 beat our estimate of a loss of $0.17….

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.