Shares of Butterfly Network, Inc. leaped in Monday’s after-hours session, following news the company received 510(k) clearance from the U.S. Food and Drug Administration for its AI-enabled Auto B-line Counter diagnostic lung tool.
Butterfly said the new Auto B-line Counter “uses deep learning technology with the aim of empowering providers to assess abnormal lung conditions easier, faster, and with more confidence.”
At 4:22 p.m. ET, the company’s shares had risen 21.93% to trade at $2.28 each. Volume at the time topped 193,000 shares. The stock finished the day’s regular session with a 0.53% loss, closing at $1.87 per share.
The company said it expects the AI-enabled Auto B-line Counter will launch in the U.S. in early summer.