BioSig Technologies Inc. (NASDAQ:BSGM): Successful Pure EP System Trials Could Prop Market Sentiments
Shares of BioSig Technologies Inc. (NASDAQ:BSGM) were down 1% even as the medical device company confirmed it had successfully conducted patient cases, using its proprietary Pure EP ™ System. The system was used at the Greenville Memorial Hospital on patients with ischemic ventricular tachycardias, atrial fibrillation.
BioSig Pure EP System
Pure EP System is BioSig Technologies computerized system, designed to acquire, digitize, amplify, filter measure, calculate, record, display, and store electrocardiographic and intracardiac signals in electrophysiology procedures.
According to the medical device company, the system seeks to minimize noise and artifacts as well as acquire high fidelity cardiac signals. By ensuring fidelity of detected cardiac signals, Pure System should enhance the accuracy and efficiency of EP studies leading to improved diagnosis.
According to Dr. Andrew Brenyo who conducted trials at the Greenville Memorial Hospital, the system showed high levels of fidelity and utility. The system enabled the visualization of high frequency, low amplitude signals in advanced arrhythmia cases.
“I made sure to use it in cases of the highest complexity and found in more than one circumstance the behavior of the system such that I could visualize waveform signals that I could not on my usual recording system. This led me towards a better understanding of a tachycardia event. I would count myself lucky to have had this eye-opening experience highlighting the signals that I have been missing,” explained Dr. Brenyo.
The positive clinical experience underscores Pure System’s credibility and usability in medical centers with diverse patient profiles. BioSig Technologies intends to carry out additional trials as a way of gaining more, clinical experience, on the technology’s capability.
Successful trials at Greenville Memorial Hospital marked the second installation of the proprietary system. BioSig completed the first wave of trials in February at the Texas Cardiac Arrhythmia Institute. Just as was the case in the Greenville trials, the Texas trials suggested improved cardiac detection and fidelity on the use of Pure EP System.
BioSig Technology impressive run in the market began in February after the medical device company reported positive trial results in Texas. A 60%-plus spike in share price in the aftermath of positive Texas results underscored renewed investor interest in the stock, after a long period of consolidation.
BioSig Share Price Analysis
Just as was the case in the first quarter the stock has once again started surging after a minor correction from highs of $7.20 to the $6 a share mark. Confirmation that the Pure System continues to enhance cardiac signals detection and fidelity in clinical trials should continue to prop the stock’s sentiments in the market.
A bounce back from the $6 a share handle indicates the upward momentum is once again gathering pace after the recent pullback. That said the $7.20 is the immediate resistance level that price action will have to breach if BioSig is to continue edging higher as was the case in the first quarter.
BioSig is to present results from the initial clinical cases and feedback on the use of the proprietary Pure EP System at the Heart Rhythm Society in May. The outcome of the presentation could have a significant impact on the stock’s price action.