Butterfly Network Stock Gains 20% After FDA Clears AI-Enabled Lung Tool

(RTTNews) - Shares of Butterfly Network, Inc. (BFLY) gained nearly 20% in extended session on Monday after the company said it received 510(k) clearance for AI-enabled Auto B-line Counter lung tool.

According to the company 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.

Butterfly's Auto B-line Counter leverages deep learning technology to produce a B-line count from just a six second ultrasound clip.

"Our goal at Butterfly is to give healthcare practitioners, and eventually consumers, a real time full color, annotated, window into the human body. Applying AI to make ultrasound easier to use is core to Butterfly, and will enable powerful ultrasound to be in the palm of more clinician's hands, across specialties, to monitor, assess, and prescribe treatments in a more informed way," said Dr. Jonathan Rothberg, Butterfly Network's Founder and Interim Chief Executive Officer.