BioSig makes record gains after exceeding procedural target for 2021
BioSig Technologies (BSGM +19.6%) has climbed to post the biggest intraday gain since April 2020 after the company announced that it has already surpassed the procedural target of 1500 patient cases set for 2021.
By Oct. 21, over 71 physicians had used the company’s PURE EP(tm) System in 1,560 patient cases, up from 1,000 cases in June 2021 when the procedural guidance was raised to reflect the rising usage in elective procedures.
By the end of 2021, the company expects to complete 1,700-1,800 procedures as the adoption of the technology rises amid falling COVID-19 hospitalizations.
“We are seeing increased utilization of PURE EP(tm) in the 13 hospitals we are currently working in,” CEO Kenneth L. Londoner, remarked.
According to latest financials, BioSig (NASDAQ:BSGM) has failed meet the consensus revenue estimates for two consecutive quarters.