Spectral AI Inc has officially commenced enrollment for a pivotal study of its revolutionary DeepView AI, leveraging proprietary imaging technology designed for assessing burn size and healing. Following the announcement, Spectral AI’s stock witnessed a remarkable surge, opening Friday’s trading at $2.96, a notable increase from the previous day’s closing at $2.55.
At the time of this publication, Spectral AI Inc stock (MDAI) has witnessed a dsurge.
Spectral AI Inc
Current Price: $3.12
Change : +0.57
Change (%): (22.35%)
Volume: 18.0M
Source: Tomorrow Events Market Data
This pivotal study marks a significant stride towards obtaining Food and Drug Administration (FDA) marketing authorization for burn indication by 2025, as stated by the Dallas-based company in an official press release.
The trial, now underway, is set to unfold in burn centers and emergency departments across the United States, with the first patient successfully enrolled. Spectral AI aims to spotlight the prowess of its technology in predicting burn wound healing potential on the very first day of injury, demonstrating unprecedented accuracy and speed compared to existing methodologies.
In a statement, Niko Pagoulatos, Spectral AI’s CEO, expressed confidence in the study’s ability to showcase the innovative and versatile nature of their technology. “We believe this study will further demonstrate the truly innovative and versatile nature of our technology, as well as its ability to predict burn wound healing potential on the first day of injury with significantly greater accuracy and speed than the methods currently used today,” said Pagoulatos.
Spectral AI strategically deployed $251 million in non-dilutive government funding since 2019 to validate DeepView for burn indication, while simultaneously advancing research in diverse clinical areas, including diabetic foot ulcers. The company adopts a ‘one platform—multiple clinical indications’ strategy, aiming to amplify its impact in the medical diagnostics field.
Lead investigator Jeffrey Carter emphasized the potential impact of the study, stating, “The study will help us validate DeepView’s game-changing AI to accurately assess burn wound healing potential on day-one which could lead to early treatment decisions.”
The study’s data, meticulously collected in burn centers and emergency departments, will undergo a comprehensive comparison with assessments made by physicians. This data will serve as the foundation for regulatory submission to the FDA, expected to be completed by the first half of 2025.
Spectral AI, a leading artificial intelligence (AI) company specializing in medical diagnostics, has positioned itself at the forefront of innovation with its groundbreaking DeepView AI technology. The company’s commitment to advancing medical research and diagnostics is underscored by its strategic use of funding and its ambition to address multiple clinical indications with a single, versatile platform. As the study progresses, the industry will be closely watching Spectral AI’s developments, anticipating potential breakthroughs in burn wound assessment and beyond.
