Spectral AI confirms compliance with Nasdaq market value requirements after exceeding $35 million in market capitalization for ten days.
Quiver AI Summary
Spectral AI, a Dallas-based company specializing in AI-driven medical diagnostics for wound care, announced that it has regained compliance with Nasdaq Listing Rule 5550(b)(2) by maintaining a market value of over $35 million for the past 10 consecutive trading days. This follows the company's development of the DeepView System, which utilizes multi-spectral imaging to assess burn healing potential, and received Breakthrough Device Designation from the FDA in 2018. The company is now awaiting confirmation from Nasdaq regarding its compliance status. Spectral AI aims to improve treatment decisions and patient outcomes in wound care through its innovative technology.
Potential Positives
- Spectral AI has regained compliance with Nasdaq Listing Rule 5550(b)(2), which strengthens its position in the stock market and assures investors of its market value stability.
- The company's market value has exceeded $35 million for the last 10 consecutive business days, indicating improved investor confidence and market perception.
- The DeepView System, which uses advanced AI for predicting burn healing potential, continues to support the company's innovative approach in the medical diagnostics field, potentially leading to enhanced patient care and market differentiation.
Potential Negatives
- The announcement of regaining compliance with Nasdaq Listing Rule 5550(b)(2) indicates that the company had previously been at risk of delisting, which could signal financial instability or struggles in maintaining investor confidence.
- The emphasis on the company's need to regain compliance may raise questions about its overall financial health and market perception, especially given that such compliance issues can affect investor relations.
- The forward-looking statements regarding the company's future plans and strategies come with significant disclaimers about the risks and uncertainties involved, suggesting that there may be challenges ahead that could impact performance and growth.
FAQ
What is Spectral AI's recent compliance announcement?
Spectral AI has announced it has regained compliance with Nasdaq Listing Rule 5550(b)(2), with a market value exceeding $35 million.
What does the DeepView System do?
The DeepView System uses multi-spectral imaging to predict burn healing potential, aiding in medical diagnostics and treatment decisions.
When did the DeepView System receive FDA designation?
The DeepView System received Breakthrough Device Designation from the U.S. FDA in 2018.
What is the focus of Spectral AI?
Spectral AI focuses on predictive AI for medical diagnostics, particularly in wound care including burns and diabetic foot ulcers.
How can I learn more about DeepView?
For more information about DeepView, visit the company's website at .
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$MDAI Hedge Fund Activity
We have seen 12 institutional investors add shares of $MDAI stock to their portfolio, and 10 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- MORGAN STANLEY added 110,727 shares (+3261.5%) to their portfolio in Q3 2024
- AVANTAX PLANNING PARTNERS, INC. added 95,493 shares (+148.4%) to their portfolio in Q3 2024
- VANGUARD GROUP INC added 43,872 shares (+71.3%) to their portfolio in Q3 2024
- MURCHINSON LTD. removed 40,000 shares (-100.0%) from their portfolio in Q2 2024
- UBS GROUP AG added 39,105 shares (+3910500.0%) to their portfolio in Q3 2024
- GEODE CAPITAL MANAGEMENT, LLC added 29,527 shares (+43.9%) to their portfolio in Q3 2024
- MYDA ADVISORS LLC removed 20,000 shares (-100.0%) from their portfolio in Q2 2024
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
DALLAS, Dec. 13, 2024 (GLOBE NEWSWIRE) -- Spectral AI (NASDAQ: MDAI) ("Spectral AI" or the "Company"), developer of the AI-driven DeepView
System, which received Breakthrough Device Designation from the U.S. FDA in 2018, that uses multi-spectral imaging and algorithms to predict burn healing potential, today announced today that the Company believes it has regained compliance with Nasdaq Listing Rule 5550(b)(2), which requires listed companies to maintain a minimum market value of listed securities of $35 million.
The market value of Spectral AI's common stock has exceeded $35 million at the close of trading for the last 10 consecutive business days, as required by Nasdaq rules. The company has notified Nasdaq of its compliance and is awaiting confirmation from the exchange.
About Spectral AI
Spectral AI, Inc. is a Dallas-based predictive AI company focused on medical diagnostics for faster and more accurate treatment decisions in wound care, with initial applications involving patients with burns and diabetic foot ulcers. The Company is working to revolutionize the management of wound care by "Seeing the Unknown
" with its DeepView
System. DeepView is a predictive device that offers clinicians an objective and immediate assessment of a wound's healing potential prior to treatment or other medical intervention. With algorithm-driven results and a goal of exceeding the current standard of care in the future, DeepView is expected to provide faster and more accurate treatment insight towards value care by improving patient outcomes and reducing healthcare costs. For more information about DeepView, visit
.
Forward-Looking Statements
Certain statements made in this release are "forward looking statements" within the meaning of the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995, including statements regarding the Company's intention to separate its Spectral IP subsidiary from the Company, and each Company's strategy, plans, objectives, initiatives, strategic goals, financial outlook or other non-historical matters. When used in this press release, the words "estimates," "projected," "expects," "anticipates," "forecasts," "plans," "intends," "believes," "seeks," "may," "will," "should," "future," "propose" and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements.
These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside Company's control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. As such, readers are cautioned not to place undue reliance on any forward-looking statements.
Investors should carefully consider the foregoing factors and the other risks and uncertainties described in the "Risk Factors" sections of the Company's filings with the SEC, including the Registration Statement and the other documents filed by the Company. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Spectral AI undertakes no obligation to update any forward-looking statements except as otherwise required by law.
For Media and Investor Relations, please contact:
David Kugelman
Atlanta Capital Partners LLC
(866) 692-6847 Toll Free - U.S. & Canada
(404) 281-8556 Mobile and WhatsApp
Email:
dk@atlcp.com