What's Going On With Spectral AI Stock?
Portfolio Pulse from Erica Kollmann
Spectral AI, Inc. (NASDAQ:MDAI) stock is trading higher after the company announced the enrollment of the first patient in a study to validate its DeepView AI technology for burn injuries. This study is the final clinical trial before seeking FDA marketing authorization for the burn indication in 2025. The company has been using $251 million of non-dilutive government funding since 2019 to validate DeepView for burn indication and is also advancing other clinical indications. The stock experienced heavy trading volume, with over 15.3 million shares traded compared to its 100-day average volume of just under 972,000 shares.
January 12, 2024 | 3:43 pm
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Spectral AI's stock is experiencing a significant increase in trading volume and price after announcing the enrollment of the first patient in a study for FDA approval of its DeepView AI technology for burn injuries.
The positive reaction in Spectral AI's stock price is likely due to investor optimism about the potential FDA approval and the progress of the company's technology in a new clinical trial. The heavy trading volume suggests strong investor interest, which could further drive up the stock price in the short term. The use of substantial non-dilutive government funding to support the technology's development adds to the positive sentiment.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100