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Spectral AI Joins Russell Microcap® Index
DALLAS, July 01, 2024 (GLOBE NEWSWIRE) -- Spectral AI, Inc. (Nasdaq: MDAI) (“Spectral AI” or the “Company”), an artificial intelligence (AI) company focused
About this update from Spectral Ai, Inc.
[{"type":"text","content":"DALLAS, July 01, 2024 (GLOBE NEWSWIRE) -- Spectral AI, Inc. (Nasdaq: MDAI) (“Spectral AI” or the “Company”), an artificial intelligence (AI) company focused on medical diagnostics for faster and more accurate treatment decisions in wound care, today announced its inclusion in the Russell Microcap Index following the annual Russell Reconstitution, which took effect after the market close on June 28, 2024. The reconstituted Russell Microcap Index will commence trading on July 1, 2024. “Spectral AI’s addition to the Russell Microcap® Index provides us with greater visibility among investors at this important time in our history,” said Peter M. Carlson, Chief Executive Officer of Spectral AI. “We continue to build momentum in commercializing our proprietary, AI-driven DeepView System and remain focused on creating long-term value for our shareholders.” Mr. Carlson highlighted the Company’s progress with respect to the ongoing development and commercialization of its proprietary DeepView System, an AI-driven predictive medical device that delivers an immediate and objective assessment of a wound’s healing potential. Initial applications for the device involve patients with burns and diabetic foot ulcers (DFU). In June, the Company achieved 50% clinical trial site enrollment at burn centers designed to validate the algorithm used by its DeepView™ System for burn indication. This pivotal study is scheduled to be completed in the fourth quarter of 2024 and is the final clinical trial before the Company seeks FDA approval of its DeepView™ System for burn indication in 2025.In February, the Company received UKCA Authorization to commence sales of its DeepView AI®– Burn in the UK and expects to generate its first commercial product revenue in the second half of 2024. In connection with the UKCA Authorization, the Company has deployed devices at multiple facilities in the UK for evaluation and plans additional deployments through the summer.The Company continues to advance clinical studies in the U.S. to further demonstrate the efficacy of the DeepView System in providing a “Day One” healing assessment of burn wounds and DFU, and remains on track to file additional US and UK regulatory submissions in 2024 and 2025 for the approval of the DeepView System.For the first quarter ended March 31, 2024, Research & Development revenue rose 24.6% to...