India, May 26 -- Shares of Spectral AI, Inc. (MDAI) are falling about 12 percent in Tuesday morning trading after the company announced that the U.S. Food and Drug Administration granted De Novo Classification for its DeepView System, which is used in burn care in various settings.
The company's stock is currently trading at $2.34, down 12.72 percent, over the previous close of $2.68 on the Nasdaq. It has traded between $1.18 and $3.21 in the past one year.
With this classification, Spectral AI is authorized to commence commercial distribution activities in the United States.
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