Reiterate Buy: Newly Published Paper Shows the Utility of Clarity AI Algorithm

Research evidence excerpt

Reiterate Buy: Newly Published Paper Shows the Utility of Clarity AI Algorithm

Medical Supplies & Devices

CeriBell

TD SECURITIES (USA) LLC QUICK TAKE: COMPANY UPDATE

June 8, 2026

Price: $18.25 (06/5/2026) Reiterate Buy: Newly Published Paper Shows

Price Target: $29.00 the Utility of Clarity AI Algorithm

BUY (1)

ESG SCORE: 70/100

Joshua Jennings, M.D. THE TD COWEN INSIGHT

646 562 1333

A new paper shows the utility of the Clarity AI algorithm for detecting clinically important

joshua.jennings@tdsecurities.com

EEG patterns. We expect these data to support Clarity's ongoing adoption. CBLL has multiple

Colin Clark drivers in 2026, including continued traction in adult seizures, VA expansion, entry into

646 562 1441 pediatric/neonates and improved sales team productivity. It also has a $1B opportunity in

colin.clark@tdsecurities.com

delirium launching around year-end.

John Rusch, CFA

646 562 1324 New Analysis Supports the Utility of CBLL's Clarity AI-Powered Algorithm

john.rusch@tdsecurities.com

A newly published research paper demonstrates the utility of CBLL's Clarity AI algorithm for

Key Data detecting clinically meaningful EEG patterns.

Symbol NASDAQ: CBLL

Market Cap $692.5MM The paper, published in the peer-reviewed journal Critical Care Medicine, reports the findings

of a new analysis that leveraged data from the Seizure Assessment and Forecasting with

Efficient Rapid-EEG (SAFER-EEG) study to evaluate the benefit of Clarity. This analysis found

that Clarity, specifically its measure of seizure burden, is correlated with a patient's functional

outcomes at discharge.

The analysis used data from 359 adult patients at three academic medical centers where both

Ceribell POC EEG and nearly 24/7 conventional EEG were available. It showed that higher