HeartSciences (NASDAQ:HSCS) stock is on the move Monday as investors react to a new patent granted by the Israel Patent Office.
This patent covers the use of artificial intelligence (AI) alongside the company’s ECG devices. The company believes it can make ECG a more useful device for screening heart problems with the help of AI.
HeartSciences notes that this new patent further protects the company’s IP, or intellectual property. The company already has nine patents in the U.S. and 31 in international markets. It’s also awaiting approval for eight patents filed in the U.S. and other areas.
Andrew Simpson, CEO of HeartSciences, said the following about the news:
“Artificial intelligence is transforming what’s possible, and at HeartSciences we are at the leading edge of changing what’s possible with an ECG by applying AI to make it a far more valuable screening tool for heart disease detection to save lives.”
How HSCS Stock Is Reacting
With today’s patent news comes heavy trading of HSCS stock. As of this writing, more than 3 million shares have changed hands. That’s already above the company’s daily average trading volume of about 2.5 million shares.
HSCS stock is down 17.7% as of Monday morning following a rally in pre-market trading today.
Investors looking for all of the latest stock market news are in the right place!
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On the date of publication, William White did not hold (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.
