NEW YORK, NY / ACCESSWIRE / March 24, 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 March 2016 Update Note. SeeThruEquity is an approved equity research contributor on Thomson First Call, Capital IQ, FactSet, and Zack's. The report will be available on these platforms. The firm also contributes its estimates to Thomson Estimates, the leading estimates platform on Wall Street.
"In our opinion, it appears that BioSig's relationship with the Mayo Clinic - a prestigious industry partner - is strong and deepening. Earlier this month, for example, Ammar Killu, MBBS of the Mayo Clinic in Rochester, presented pre-clinical data from a series of studies at the Mayo Clinic during 2015 at the 13th International Dead Sea Symposium on Innovations in Cardiac Arrhythmias and Device Therapy at the David Intercontinental Convention Center in Tel Aviv. The presentation was entitled Enhanced Electrophysiology Recording Improves Signal Acquisition and Differentiation and featured work done utilizing Pure EP™ technology in work done in pre-clinical studies by Dr. Samuel Asirvatham and his team. BioSig has indicated that it expects at least one Mayo study to be published in a high profile medical journal during 1H16E, which we reason has the potential to attract the attention of both investors and industry leaders," stated Ajay Tandon, CEO of SeeThruEquity. "We are maintaining our 12-month price target of $3.53 per share."
Highlights from the note are as follows:
Mayo Clinic research partnership extended and enhanced
On March 23, 2016, BioSig filed an 8-K highlighting the establishment of an advanced research program with Dr. Samuel Asirvatham at the Mayo Clinic in Rochester, Minnesota. The filing noted that the continuation of the sponsored research program with the Mayo Clinic would be build on the initial studies conducted last year and through a tripling of investment, with a goal of more fully characterizing and developing the "novel features discovered during this prior pre-clinical work" which have the potential to make significant impact in the treatment of complex arrhythmias. We are encouraged by the expanding relationship with the Mayo Clinic, which we see as a prestigious industry partner which could help to accelerate institutional adoption and interest in the Pure EP™ System. The company recently presented pre-clinical data with the Mayo Clinic in Tel Aviv, Israel, at the 13th International Dead Sea Symposium on Innovations in Cardiac Arrhythmias and Device Therapy at the David Intercontinental Convention Center, and management has indicated that it believes the data is likely to be picked up by major journals in the space.
Potential to emerge as a new player in strategic EP market
With Pure EP™, BioSig is targeting the $3.5 billion global market for electrophysiology (EP), one of the fastest-growing medical device segments, with the market estimated to reach $5.5Bn by 2019E, according to research from Global Industry Analysis. The EP market is one that has been marked by strategic M&A activity in the past, and we are intrigued by the promise that Pure EP™ could be a wide-sweeping technology refresh for the EP market that makes it easier for electrophysiologists to make decisions in real time. BioSig is targeting the end of 2017E for market launch, but in our view the next six to twelve months could be very telling as the company will be presenting pre-clinical data - including in May at the Heart Rhythm Society, one of the biggest events in the industry.
Maintain price target of $3.53 for BioSig
We have been encouraged by the progress made by BioSig since our initiation of coverage on February 17, 2016, and note that shares have risen by 26% since that time. We continue to see BioSig as an intriguing high risk / high reward medical device company, which has many potential catalysts ahead over the next 12-18 months as it targets the attractive and growing $3.5 billion electrophysiology (EP) market. We are maintaining our price target of $3.53 for BioSig at this time. If achieved, the target represents potential upside of 157.7% from the recent price of $1.37 on March 23, 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) marketplace1 (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 20191 -- 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 20172.
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
SeeThruEquity is an equity research and corporate access firm focused on companies with less than $1 billion in market capitalization. The research is not paid for and is unbiased. The company does not conduct any investment banking or commission based business. SeeThruEquity is approved to contribute its research to Thomson One Analytics (First Call), Capital IQ, FactSet, Zacks, and distribute its research to its database of opt-in investors. The company also contributes its estimates to Thomson Estimates, the leading estimates platform on Wall Street.
For more information visit www.seethruequity.com.
Contact:
Ajay Tandon
SeeThruEquity
info@seethruequity.com
SOURCE: SeeThruEquity