Ainos AI Nose achieves 79% accuracy in VOC detection

SAN DIEGO, CA - Ainos, Inc. (NASDAQ:AIMD)(NASDAQ:AIMDW), a healthcare company specializing in artificial intelligence (AI) technology, has announced a significant development in industrial safety with its AI Nose technology. The AI-powered device has demonstrated a 79% accuracy rate in identifying 761 samples of 22 different volatile organic compounds (VOCs) in Japanese semiconductor factories.

The AI Nose, which has been in development for over a decade primarily for medical applications, is now transitioning into the industrial sector. Its ability to monitor and prevent hazardous gas leaks is seen as a potential game-changer for manufacturing safety and efficiency.

The technology's latest breakthrough includes the detection of VOCs that are critical in various industrial processes, such as controlling contamination in manufacturing and ensuring health and safety by detecting chemical leaks. It also plays a role in fire prevention by identifying overheating in equipment cables.

Ainos plans to integrate the AI Nose into robotics systems within smart factories, equipping robots with a human-like sense of smell. This advancement aims to enhance robots' performance and safety in collaboration with human workers.

Chun-Hsien (Eddy) Tsai, Chairman, President, and CEO of Ainos, expressed confidence in the AI Nose's potential for further improvements in accuracy and its role as the digital "nose" of AI technology.

Ainos, headquartered in San Diego, is also known for its work in point-of-care testing and low-dose interferon therapeutics. The company's product pipeline includes oral therapeutics for humans and animals, orphan drugs, and telehealth-friendly testing solutions.

This announcement is based on a press release statement and reflects the company's current achievements and future intentions in the field of smart manufacturing and AI integration.

In other recent news, Ainos, Inc. has made significant strides in the development of its AI-powered diagnostics and therapeutics. The company has secured exclusive licenses for 10 invention patents from Taiwan Carbon Nano Technology (TCNT), a move expected to enhance Ainos' AI Nose and point-of-care testing technologies. The patents, valued at approximately $5.4 million, cover regions including the U.S., Germany, China, Japan, and Taiwan.

In addition, Ainos has extended its product development agreement with TCNT, a major shareholder, for an additional three months. This extension allows Ainos continued non-exclusive access to TCNT's patents related to volatile organic compounds and point-of-care testing technologies.

Ainos is also making progress in the clinical trials of its AI Nose technology device, "Ainos Flora," currently under testing in four major medical centers in Taiwan. The company's AI algorithm model has shown improved accuracy by integrating more real-world data. An upgraded version of Ainos Flora, incorporating NVIDIA (NASDAQ:NVDA) CUDA technology, is in development, with the design expected to complete in the third quarter and clinical trials set to begin in the fourth quarter.

However, Ainos has been notified by the Nasdaq Listing Qualifications Department about a potential delisting due to the company's stock price falling below the required minimum bid price. The company has been given a grace period until January 13, 2025, to regain compliance with the minimum bid price requirement. These are all recent developments in Ainos Inc.'s ongoing efforts.

InvestingPro Insights

As Ainos, Inc. (NASDAQ:AIMD) makes strides in smart manufacturing with its innovative AI Nose technology, investors and industry observers are keenly watching the company's financial health and market performance. According to InvestingPro data, Ainos has a market capitalization of 5.48 million USD, highlighting its status as a smaller player in the healthcare sector. Despite the technological advancements, the company's financials reflect some challenges. It has a negative P/E ratio, standing at -0.36 for the last twelve months as of Q2 2024, which could indicate that the company is not currently generating profits relative to its share price.

The company's revenue for the same period was 0.07 million USD, with a stark revenue decline of -97.73%. This significant drop may raise concerns about the company's ability to sustain its operations and growth. Additionally, Ainos has a gross profit margin of -316.61%, underscoring its struggles to maintain profitability in its operations.

InvestingPro Tips for Ainos suggest that the company is quickly burning through cash and suffers from weak gross profit margins. These financial indicators may be crucial for potential investors to consider, especially when assessing the company's ability to capitalize on its technological developments like the AI Nose. On a positive note, Ainos has experienced a significant return over the last week, with a 20.92% price total return, which could capture the interest of investors looking for short-term gains.

For those interested in a deeper dive into Ainos's financials and market performance, InvestingPro offers additional tips. Currently, there are 8 more InvestingPro Tips available for Ainos, which can be accessed for further detailed analysis to inform investment decisions. These tips can provide a more comprehensive understanding of Ainos's position in the healthcare industry and its potential for future growth.

To explore these insights and more, investors can visit the dedicated InvestingPro page for Ainos at https://www.investing.com/pro/AIMD.

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