HeartBeam (NASDAQ:BEAT) stock is rocketing higher on Thursday as investors react to news of a new heart monitor patent.
This new patent covers a 12-lead electrocardiogram patch that’s designed to monitor for acute coronary syndrome, as well as cardiac arrhythmia. This is an expansion on a previous 12-lead ECG patch monitor technology patent awarded to the company.
HeartBeam notes that it plans to use these patents for devices in the global ECG patch monitor market. The company is expecting this market to grow to $4.8 billion by the time 2030 rolls around.
Branislav Vajdic, PhD, president and CEO of HeartBeam, said the following in a news release.
“Our 12-lead ECG patch technology offers the potential to bring a level of diagnostic accuracy consistent with the current 12-lead ECG standard of care and could have a disruptive effect on the ECG patch market with its ischemia detection capability.”
Today’s patent news has shares of BEAT stock seeing heavy trading. As of this writing, more than 83 million shares of the stock have changed hands. To put that in perspective, the company’s daily average trading volume is around 97,000 shares.
BEAT stock is up 58% as of Thursday afternoon but is still down 45.5% since the start of the year.
Investors seeking out all of the latest stock market news today are in luck!
InvestorPlace is home to all of the hottest stock market coverage traders need to know about for Thurday! Among that is what has shares of NeuroBo (NASDAQ:NRBO), IronNet (NYSE:IRNT) and Fisker (NYSE:FSR) stock on the move today. You can read up on all of that news from the following links!
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- Why Is Fisker (FSR) Stock Up Today?
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
