Spectral AI (NASDAQ:MDAI) stock is taking off on Thursday after the company saw one of its devices become U.K. Conformity Assessed (UKCA) “marked for use” in the United Kingdom.
This covers Spectral AI’s DeepView SnapShot Wound Imaging System. The device has also “received Class 1 medical device classification with the United States Food and Drug Administration (FDA).”
According to Spectral AI, this news has the firm setting up six DeepView SnapShot devices for evaluation by U.K. medical professionals. The company also plans to next get regulatory approval for its DeepView AI Burn software so that it can fully commercialize its DeepView SnapShot System.
Wensheng Fan, CEO of Spectral AI, said the following about the news:
“We are confident that our unique AI-driven imaging platform will empower healthcare professionals in making critical decisions around the world, and these regulatory developments are significant steps towards achieving that goal.”
MDAI Stock Movement on Thursday
Following news of the new approvals, shares of MDAI stock are seeing heavy trading on Thursday. This has more than 38 million shares changing hands as of this writing. For the record, that’s well above its daily average trading volume of about 310,000 shares.
MDAI stock is up 61.4% as of Thursday morning but is still down 58.2% since the start of the year.
Investors on the lookout for more of the most recent stock market news on Thursday will want to stick around!
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On the date of publication, William White did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
