Spectral AI Announces Confirmation of Compliance of its Nasdaq Listing Requirements

Spectral AI (NASDAQ: MDAI), the innovative company behind the DeepView® System designed for predicting burn healing, announced on December 20, 2024, that it has received a ‘moot’ letter from Nasdaq. This letter confirms the company’s compliance with all applicable listing standards required for continued presence on the Nasdaq Capital Market.

The DeepView® System, which gained FDA Breakthrough Device Designation in 2018, utilizes multi-spectral imaging and algorithmic processes to effectively predict the healing potential of burn injuries. Dr. Michael DiMaio, Chairman of the Board, expressed his satisfaction with the company’s maintained compliance and noted significant progress towards FDA submission.

This confirmation is a stabilizing factor for Spectral AI, assuring stakeholders that the risk of delisting has been avoided. As a micro-cap company, with a market value of $39.6 million, maintaining a listing on Nasdaq is crucial for access to the capital markets and market visibility.

However, this adherence to compliance primarily addresses regulatory standards rather than altering the fundamental business outlook or financial standing of the company. The more critical aspect that needs attention is the FDA submission progress for the DeepView® System, which, if successful, could significantly expand its market opportunities in burn care.

In conclusion, while the compliance confirmation is a victory for Spectral AI, ongoing regulatory developments surrounding the FDA remain a pivotal focus for its future growth and success.

– DALLAS, Dec. 23, 2024 (GLOBE NEWSWIRE)

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