On May 20, 2020, BioSig Technologies and its subsidiary, ViralClear Pharmaceuticals, announced the closing of a $10.8 million common stock financing.

iralClear planned to use the proceeds of this offering for the development, including phase II human clinical trials, of its product candidate merimepodib, a broad-spectrum anti-viral agent. The financing was completed at a $100 million pre-money valuation.