logo
Plus   Neg
Share
Email

Stock Alert: BioSig Down 10%; Acquires Anti-viral Agent That May Treat COVID-19

Shares of BioSig Technologies Inc. (BSGM) are currently down 10% on Wednesday morning.

The medical technology company announced that it acquired license for a broad-spectrum anti-viral agent that may treat COVID-19. The company did not disclose any financial details of the deal.

BioSig Technologies said its majority-owned subsidiary NeuroClear Technologies acquired the rights to develop a novel pharmaceutical to treat COVID-19.

The company said the anti-viral agent, Vicromax, in a preliminary internal review, demonstrated strong activity against COVID-19 in cell cultures in laboratory testing. In this analysis, Vicromax was added to a tissue culture assay for SARS-CO-2 coronavirus and an anti-viral effect was observed, which led to a reduction of over 90% of infectious viruses.

The company said it intends to pursue development of this agent for the treatment of COVID-19 through FDA-approved clinical trials.

The company aims to develop Vicromax and take it through clinical trials under a new NeuroClear subsidiary, ViralClear Pharmaceuticals, Inc.

BSGM is currently trading at $3.44, down $0.40 or 10.4%, on the Nasdaq.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Global PC shipments returned to growth in the second quarter of 2020 after seeing a significant decline in the preceding first quarter due to COVID-19 related supply-chain disruptions, according to reports by two research firms. The PC market returned to growth in the quarter as production ramped up and vendors restocked their supplies to near-normal levels. The bankruptcy filing of America's oldest apparel retailer Brooks Brothers has ignited significant interest from potential buyers for the brand. WHP Global and a venture backed by Authentic Brands Group LLC and Simon Property Group, Inc., are reportedly considering bids for the retailer. WHP Global owns the ANNE KLEIN and JOSEPH ABBOUD brands. Sundial Herbal Products has recalled around 65 products, which were misbranded and currently unapproved drugs, the U.S. Food and Drug Administration said in a statement. The recall follows an order by a federal judge in June to stop distributing the company's unapproved new drugs. The affected items include herbal products and dietary supplements.
Follow RTT