Liquidation: Bluejay Diagnostics, Inc.

Form Type: 10-Q

Filing Date: 2025-05-13

Corporate Action: Liquidation

Type: Update

Accession Number: 000121390025042633

Filing Summary: Bluejay Diagnostics, Inc. reported its financial results for the quarter ending March 31, 2025, highlighting an operating loss of $1,888,917 and a net loss of $1,864,435. The company is developing a diagnostic platform, Symphony, and is facing significant financial challenges, including an accumulated deficit of $36,533,219. The management indicated a need for at least $30 million in capital to proceed with regulatory submissions and clinical trials. The company warned that if it cannot secure additional financing, it may have to liquidate under Chapter 7 bankruptcy laws. Several reverse stock splits have been executed to manage share levels, with the most recent splits occurring in 2024. Future plans include regulatory submissions for the Symphony IL-6 test, which aims to address critical healthcare needs, but progress may be hampered by financial constraints and market risks.