Spectral AI shares surge 34.17% after-hours after securing $31.7M BARDA funding to advance FDA approval for DeepView AI.

Spectral AI Inc. (NASDAQ: MDAI) surged 34.17% in after-hours trading following the announcement of a $31.7 million non-dilutive funding award from BARDA, a division of the U.S. Department of Health and Human Services. This infusion, part of a $150 million contract, supports the development of the company’s DeepView AI imaging system, which is under FDA review for market authorization. The funding provides critical liquidity to a company with negative shareholders’ equity and substantial operational losses, while the potential FDA clearance represents a key regulatory milestone that could unlock the remaining $118.3 million in contract value and validate the commercial viability of its wound diagnostics technology. The stock’s sharp after-hours rally reflects investor optimism about the financial lifeline and the prospect of regulatory approval, which would position Spectral AI for broader market adoption and revenue growth.