BioSig Technologies, Inc. (BSGM): History, Ownership, Mission, How It Works & Makes Money

Ever wondered what happened to BioSig Technologies, Inc. (BSGM) and its advanced signal processing technology for cardiac procedures? After reporting a net loss of approximately $26.8 million for the nine months ended September 30, 2023, the company unfortunately filed for Chapter 11 bankruptcy and effectively ceased operations later that year, marking a significant shift from its prior market activities. Are you interested in understanding the technology they pioneered, their business model, and the path that led to this outcome? Let's explore the history, mission, and operational journey of this medtech firm.

BioSig Technologies, Inc. (BSGM) History

BioSig Technologies, Inc.'s Founding Timeline

Year established

BioSig Technologies, Inc. was incorporated in 2009.

Original location

The company was initially incorporated in Nevada, USA.

Founding team members

Kenneth L. Londoner is the founder and served as the initial driving force behind the company's vision.

Initial capital/funding

Early funding typically came through private placements and convertible notes, common for development-stage medtech companies bootstrapping their initial research and product development phases before accessing public markets.

BioSig Technologies, Inc.'s Evolution Milestones

BioSig Technologies, Inc.'s Transformative Moments

Achieving FDA 510(k) Clearance

Securing FDA clearance in 2018 was pivotal. It unlocked the path to commercialization, transforming BioSig from an R&D concept into a potential player in the medical device market. This regulatory hurdle is a major validation point for any medtech firm.

First Commercial Placements & Clinical Use

Moving the PURE EP™ System from the lab into actual clinical settings starting around 2019 represented a critical real-world test. It demonstrated the product's viability and began the essential process of gathering user feedback and clinical data from leading medical centers, shaping future development and sales strategies.

Navigating Market & Financial Realities (2023-2024)

The period leading up to the end of 2024 forced significant strategic evaluation. Facing the high costs of commercialization and market adoption challenges common in the medtech space, the company undertook reviews and restructuring. These decisions reflect the tough choices required to align resources with achievable goals in a competitive environment, impacting near-term operations and long-term strategy.

BioSig Technologies, Inc. (BSGM) Ownership Structure

BioSig Technologies operates as a publicly traded entity, meaning its ownership is distributed among various shareholders, including institutions, company insiders, and the general public. Understanding this structure is key to grasping who influences the company's direction and governance as of late 2024.

BioSig Technologies, Inc. Current Status

As of the end of 2024, BioSig Technologies, Inc. is a public company. Its shares are listed and traded on the NASDAQ Capital Market under the ticker symbol BSGM.

BioSig Technologies, Inc. Ownership Breakdown

The distribution of ownership can significantly impact company strategy and decision-making. Below is an approximate breakdown based on available data from late 2024:

For a deeper dive into who holds shares, consider Exploring BioSig Technologies, Inc. (BSGM) Investor Profile: Who’s Buying and Why?

BioSig Technologies, Inc. Leadership

The strategic direction and day-to-day operations of BioSig Technologies are guided by its executive leadership team. As of the close of 2024, key figures steering the company include:

• Anthony Amato: Chief Executive Officer (appointed August 2024)
• Steve Chaussy: Chief Financial Officer
• Gray Fleming: Chief Commercial Officer

This team is responsible for executing the company's mission and navigating the competitive landscape within the medical technology sector.

BioSig Technologies, Inc. (BSGM) Mission and Values

BioSig Technologies aims to fundamentally improve patient care through technological innovation in signal processing, a focus reflected across its operations and appealing to various stakeholders detailed in Exploring BioSig Technologies, Inc. (BSGM) Investor Profile: Who’s Buying and Why?. The company's direction is guided by its core purpose and commitment to advancing electrophysiology.

BioSig Technologies' Core Purpose

Official mission statement

The company's stated mission is to improve patient outcomes by providing unprecedented accuracy and clarity through their innovative signal processing platform. This centers on enhancing the quality of intracardiac signals for physicians.

Vision statement

While not always articulated as a formal vision statement, BioSig's long-term aspiration involves establishing its technology as a standard of care in electrophysiology labs globally, transforming how complex cardiac procedures are performed.

Company slogan

BioSig has previously utilized the tagline Clarity in Sight™, directly referencing the enhanced signal clarity provided by its PURE EP™ System.

BioSig Technologies, Inc. (BSGM) How It Works

BioSig Technologies develops and aims to commercialize proprietary biomedical signal processing technology designed to improve the clarity and accuracy of physiological signals for diagnosing and treating cardiac arrhythmias. The company focuses on translating its advanced signal processing capabilities into tangible clinical tools used during electrophysiology (EP) procedures.

BioSig Technologies, Inc.'s Product/Service Portfolio

BioSig Technologies, Inc.'s Operational Framework

The company's operations center around research and development, clinical validation, regulatory approval processes, and targeted commercialization efforts for its PURE EP™ System. As of late 2024, BioSig continued its strategic focus on demonstrating clinical value and securing adoption in key electrophysiology labs. Operational costs reflect this focus, with significant investment historically channeled into R&D and clinical studies, although spending was reduced in 2024 as part of cost-saving measures; for the nine months ended September 30, 2024, R&D expenses were $5.1 million compared to $9.8 million in the prior year period. Manufacturing is typically managed through partnerships, allowing the company to maintain an asset-light model concerning production infrastructure. The sales process involves direct engagement with hospitals and electrophysiologists, supported by clinical specialists who assist during procedures. Generating recurring revenue relies on system sales or placements and potential consumable usage, though reported revenues remained modest through Q3 2024 at $107,000 for the first nine months of the year. The company initiated a strategic review process in 2024 to explore options to maximize shareholder value, reflecting the challenges of early-stage commercialization in the medtech space. You can learn more by Exploring BioSig Technologies, Inc. (BSGM) Investor Profile: Who’s Buying and Why?

BioSig Technologies, Inc.'s Strategic Advantages

• Proprietary Technology: The core advantage lies in its unique signal processing algorithms designed specifically for the challenges of intracardiac signal acquisition.
• Intellectual Property: A portfolio of patents protects its core technology, creating barriers to entry for potential competitors seeking to replicate its specific methods.
• Clinical Focus: By targeting the complex field of electrophysiology, particularly atrial fibrillation ablation, the company addresses a significant unmet need for improved procedural guidance and outcomes.
• Potential for Improved Outcomes: If clinical data robustly demonstrates improved efficiency or efficacy in EP procedures, it could drive adoption despite established competitors.

BioSig Technologies, Inc. (BSGM) How It Makes Money

BioSig Technologies primarily aims to generate revenue through the commercialization of its PURE EP™ System, designed for intracardiac signal visualization. As of late 2024, the company is in the early stages of commercial rollout, meaning significant revenue generation from product sales or leases is still developing.

BioSig Technologies, Inc.'s Revenue Breakdown

Product revenue remained minimal through the first three quarters of 2024 as the company focused on targeted market release and evaluation placements.

Historically, the company's income has largely stemmed from financing activities rather than operations.

BioSig Technologies, Inc.'s Business Economics

The business model relies on penetrating the electrophysiology market with advanced signal processing technology. This involves substantial upfront investment in research and development, clinical trials, and regulatory approvals, characteristic of the medical device industry. Key economic drivers include:

• Securing adoption by hospitals and electrophysiologists.
• Establishing a pricing model encompassing capital equipment (the PURE EP™ System) and potentially recurring revenue from associated disposables or software upgrades.
• Managing long sales cycles typical for high-value medical equipment.
• Controlling high operational costs associated with R&D, SG&A, and market development activities.

The economic viability hinges on achieving sufficient market penetration to offset significant accumulated deficits and ongoing operational expenses.

BioSig Technologies, Inc.'s Financial Performance

As a development-stage company transitioning towards commercialization, financial performance as of late 2024 reflected continued investment rather than profitability. Key indicators from the period leading up to year-end 2024 include:

• Net Loss: The company continued to report significant net losses. For the nine months ended September 30, 2024, the net loss was approximately $19.8 million.
• Research & Development (R&D) Expenses: R&D remains a major expenditure, totaling around $6.9 million for the first nine months of 2024, essential for product refinement and pipeline development.
• Selling, General & Administrative (SG&A) Expenses: SG&A costs were substantial, approximately $12.7 million for the nine months ending September 30, 2024, reflecting spending on commercialization efforts and corporate overhead.
• Cash Position: Maintaining adequate liquidity is crucial. As of September 30, 2024, cash and cash equivalents stood at approximately $3.2 million, highlighting the ongoing need for financing.

Understanding these metrics is vital for assessing the company's trajectory. For a deeper dive, consider Breaking Down BioSig Technologies, Inc. (BSGM) Financial Health: Key Insights for Investors. The company's financial health is intrinsically linked to its ability to successfully commercialize its technology and manage its cash burn rate effectively.

BioSig Technologies, Inc. (BSGM) Market Position & Future Outlook

As of early 2025, BioSig Technologies holds a developmental position within the cardiac electrophysiology market, focusing on establishing its PURE EP™ System amidst industry giants. The company's future outlook hinges significantly on successful commercial adoption, further clinical validation, and securing adequate funding to support operations, reflecting the high-risk, high-reward nature typical of medical device innovators navigating a competitive landscape. You can learn more by Exploring BioSig Technologies, Inc. (BSGM) Investor Profile: Who’s Buying and Why?

Competitive Landscape

The electrophysiology market is dominated by large, established medical device companies. BSGM aims to carve a niche with its signal processing technology.

Opportunities & Challenges

Navigating the path to profitability involves capitalizing on market needs while mitigating inherent risks.

Industry Position

BioSig Technologies is positioned as an emerging innovator in a specialized segment of the multi-billion dollar electrophysiology market. Its success depends on demonstrating clear clinical and economic advantages over existing technologies offered by dominant competitors. As of 2025, the company remains in the critical phase of market penetration and validation, facing the substantial challenge of displacing or augmenting entrenched systems within hospital electrophysiology labs. Financial stability, evidenced by managing its cash position reported throughout 2024, remains a primary operational focus alongside commercial traction.