CYN - (NASDAQ: CYN) Granted Latest AI-Powered Autonomous Vehicle Technology Patent

2024-01-29 08:55:51 ET

DENVER, Colo., Jan. 29, 2023 ( www.247marketnews.com )- Cyngn Inc. (NASDAQ: CYN) stated, this morning, that it was granted a new patent, US-11,851,074-B2, System and Methods of Large-Scale Autonomous Driving Validation provides expanded safety features in identifying problems arising from AV driving operations and generating a notification message regarding the problem, for the Company’s autonomous vehicle (AV) and driving solutions.”I am pleased with the remarkable progress and pace of innovation our technology team has achieved as this latest patent expands our total number of U.S. patents to 19,” said Cyngn’s Chairman and Chief Executive Officer, Lior Tal. “Prior to 2023, we were granted 3 U.S. patents.  During the first half of 2023, 7 U.S. patents were granted with the second half of last year securing 9 additional patents.  Currently we have an additional 6 U.S. patents and 20 international patents submitted which we anticipate to be granted in the coming years.”

Cyngn is trading at $0.25, down $0.02 (-6.11%), on 4.2M shares traded.

Its 52-week range is $0.118 to $1.3808. It hit a new 52-week low, last week, and is trying to rally. Friday’s $0.245 low may be a good mental stop loss for traders.

Cyngn develops and deploys scalable, differentiated autonomous vehicle technology for industrial organizations. Cyngn’s self-driving solutions allow existing workforces to increase productivity and efficiency. The Company addresses significant challenges facing industrial organizations today, such as labor shortages, costly safety incidents, and increased consumer demand for eCommerce.

Website: https://cyngn. com

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