BioSig Technologies Receives Notice from Nasdaq Regarding Minimum Bid Price Compliance

On October 24, 2024, BioSig Technologies, Inc. (NASDAQ: BSGM) disclosed in a Form 8-K filing that it had received a letter from the Nasdaq Listing Qualifications department. The notification stated that during the period from June 11, 2024, up to the reinstatement date of October 23, 2024, the closing bid price of BioSig’s common stock did not meet the required minimum bid price of $1.00 per share as per the Nasdaq Listing Rules.

As a consequence of not meeting this threshold, BioSig Technologies is currently not compliant with the Nasdaq’s minimum bid price requirement. The Nasdaq Listing Rules, however, provide the company with a 180-day compliance period to regain adherence to the minimum bid price standard.

During this 180-day timeframe, if BioSig’s security achieves a closing bid price of at least $1 for a minimum of ten consecutive business days, Nasdaq will acknowledge the compliance in writing, leading to the closure of this matter. Furthermore, in the circumstance where BioSig Technologies does not manage to restore compliance within the designated period, there is the possibility for the company to be considered for additional time.

To be eligible for an extension, BioSig Technologies must fulfill the ongoing listing prerequisites for market value of publicly held shares and all other original listing criteria for The Nasdaq Capital Market, aside from the bid price obligation. Additionally, the company will be required to provide written notice of its intent to address the deficiency during the extended compliance period, potentially through implementing a reverse stock split if deemed necessary.

This notification underscores the importance for BioSig Technologies to manage its stock price and regulatory compliance diligently as it navigates the path to meeting the Nasdaq’s listing standards. The company’s response to this notification will be closely monitored by shareholders and market participants alike.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read BioSig Technologies’s 8K filing here.

About BioSig Technologies

BioSig Technologies, Inc, together with its subsidiaries, a medical device company, engages in development and commercialization of advanced digital signal processing technology platform for the treatment of cardiovascular arrhythmias in the United States. It offers PURE EP system, a signal processing platform that combines hardware and software to address known challenges associated to signal acquisition that enables electrophysiologists to see signals and analyze in real-time, as well as is designed to address long-standing limitations that slow and disrupt cardiac catheter ablation procedures.