G Medical Innovations Holdings Ltd GMVD shares are trading significantly higher Monday after the company announced it received notice of patent issuance from the United States Patent and Trademark Office (USPTO) for vital signs sensors.
What Happened: G Medical Innovations said it received a patent issue notification for its monitoring products marketed in the United States. The patent, titled Method and System for Vital Signs Monitoring with Earpiece, covers the company's vital signs monitoring system, which is being developed using multiple sensing mechanisms to be used on different body locations.
The company's vital sign monitoring system could potentially provide physicians with more versatility in patients' monitoring. It would also simplify in and out-patients' monitoring. G Medical Innovations expects the patent to be issued on Feb. 7.
G Medical Innovations also highlighted two patents it was awarded in December. The company said it believes that obtaining said patents places it at the forefront of the industry, giving G Medical a "significant advantage" over its competitors.
G Medical Innovations currently has three more patents which are pending approval from the USPTO.
G Medical is a micro-cap stock with a total float of 1.205 million, according to Benzinga Pro. The company's average session volume sits below 400,000. More than 4.5 million shares have already been traded in Monday's premarket session.
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GMVD Price Action: G Medical shares are up 110.7% at $6.32 at time of publication, according to Benzinga Pro.
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