Shares of HeartBeam, Inc. (BEAT) slipped over 15% on Monday morning despite the medical technology company announced that FDA has granted 510(k) clearance of the HeartBeam system for comprehensive arrhythmia assessment.
BEAT is currently trading at $2.6326, down $0.4874 or 15.62%, on the Nasdaq. The stock opened its trading at $3.4700 after closing Friday at $3.1200. The stock has traded between $2.2800 and $3.4700 in the past 52-week period.
HeartBeam announced that the US Food and Drug Administration (FDA) has granted 510(k) clearance of the HeartBeam system for comprehensive arrhythmia assessment.
With its patented design, the HeartBeam device is the first-of-its-kind to receive FDA clearance. As a high-fidelity electrocardiogram (ECG) system with a credit card-sized form factor and cable-free design, it captures heart signals from three distinct directions for actionable heart health information.
"It's well documented that patients who delay seeking care for their cardiac symptoms face worse clinical outcomes. The ability for patients to capture high-fidelity ECG signals from three directions wherever they are when symptoms occur will help patients get the care they need in a timelier manner," said Robert Eno, Chief Executive Officer, HeartBeam. "The FDA clearance of our technology is a significant milestone for the Company that brings us one step closer to fulfilling our vision of providing unprecedented cardiac insights to individuals and physicians."
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