|9 Months Ended|
Sep. 30, 2020
|Subsequent Events [Abstract]|
|Subsequent Events [Text Block]||
NOTE 15 – SUBSEQUENT EVENTS
In October 2020, BioSig Technologies, Inc. issued an aggregate of 76,517 shares of its common stock for services.
In October 2020, BioSig Technologies, Inc. issued an aggregate of 54,000 shares in exchange for proceeds of $202,500 from the exercise of warrants.
On October 5, 2020, BioSig Technologies, Inc. granted to a director 50,000 shares of its restricted stock units vesting over three years with one-third vesting on the first anniversary of the date of grant, and the remaining two-thirds vesting in substantially equal quarterly installments on each quarterly anniversary of the first vesting date with the last remaining quarterly installment vesting on the third anniversary of the Date of Grant.
On October 9, 2020, BioSig Technologies, Inc. granted an aggregate of 105,000 options to purchase shares of BioSig Technologies, Inc.’s common stock to three employees and a director. The options are exercisable at $5.03 per share for ten years with one-third vesting on the first anniversary of the date of grant, and the remaining two-thirds vesting in substantially equal quarterly installments over the following two years.
On October 26, 2020, the Company announced the halting of its signal finding Phase 2 trial, “A Phase 2, Randomized, Double-Blind, Placebo-Controlled Study of the Efficacy and Safety of Oral Merimepodib in Combination with Intravenous Remdesivir in Adult Patients with Advanced Coronavirus Disease 2019 (COVID-19)”. After the implementation of a protocol amendment that expanded the size of the trial from 40 to 80 hospitalized COVID-19 patients, and that limited enrollment to seriously ill patients (NIAID Grade 3, who required high flow, high concentration oxygen to maintain adequate oxygenation), the Safety Monitoring Committee (SMC) was unblinded for safety reasons since these patients are at higher risk for dying from their disease. The Company expects to incur costs in connection with the winddown of the Phase II trial and the associated regulatory reporting in final quarter of 2020.
The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business.
Reference 1: http://www.xbrl.org/2003/role/disclosureRef