MDAI News & Events

Spectral AI announced that it has received $31.7M in funding from the Biomedical Advanced Research and Development Authority, or BARDA, to accelerate and support additional feature aspects for the company's DeepView System, its AI-driven burn wound imaging technology. As part of the ongoing partnership, Spectral AI has committed to provide an additional $9.7M to the total overall development costs associated with these feature advancements. This immediate, non-dilutive funding is being advanced in addition to the $54.9M of funding committed to date as part of the company's current contract with BARDA valued up to $150M, as the company awaits a determination on market authorization from the FDA for the DeepView System.

Spectral AI announced that the Company's Board of Directors has appointed Vincent Capone as Chief Executive Officer of the Company, effective February 9, 2026. The appointment of Capone, who currently serves as the Company's Chief Financial Officer and General Counsel, comes as Spectral AI transitions towards commercialization of its burn wound assessment device - the DeepView System.

Reports Q3 revenue $3.79M, consensus $5.06M. "Spectral AI continues to maintain operational efficiency and strengthen our cash reserves as we progressed towards our commercialization milestones. Our results of operations support our work on the following the submission of our De Novo application in June of this year to the FDA," stated J. Michael DiMaio, Chairman of the Board at Spectral AI. "We continue to focus towards bringing this innovative diagnostic device to market in the U.S. to provide clinicians with an immediate, AI trained, data driven assessment tool designed to assist clinical decision-making which may significantly improve patient outcomes."

Spectral AI announced the pricing of a $7.6 million offering. The offering will provide the Company with additional growth capital for the continued expansion and development of its DeepView System. The transaction includes the issuance of 4,000,000 shares of its common stock and pre-funded warrants at a price of $1.90 per share and corresponding warrants with an exercise price of $2.51 per share of common stock. Northland Capital Markets acted as the exclusive placement agent for the Company.