BioSig Technologies announces workforce reduction to decrease annual cash burn

BioSig Technologies announced a workforce reduction, intended to reduce annual cash burn by 50%. The Company is reducing its internal workforce, which is expected to be completed by January 31. The Company is also shifting its business model and seeks to partner with organizations for sales distribution and clinical support of its PURE EP Platform. Since its launch in Q4 2023, PURE EP’s Near-Field Tracking has increased customer interest and usage at some of the country’s largest and leading medical centers and health systems. This usage has also illustrated the need for increased clinical support as the Company seeks to install its PURE EP Platform in additional accounts. The Company is looking to partner with well-established electrophysiology companies and distributors that already have clinical staff in the hospital setting.