Bluejay Diagnostics Completes Commercial Production of IL-6 Antibodies
Bluejay Diagnostics completed commercial-scale production of both polyclonal and monoclonal antibodies targeting interleukin-6, a biomarker relevant to inflammatory and critical-care applications. The Company stated that both polyclonal and monoclonal antibodies met internal performance criteria, including reactivity, for use in Symphony cartridge manufacturing intended for clinical and potential future commercial applications. Bluejay has generated polyclonal antibodies using both third-party and internally developed immunogens. The Company intends to utilize antibodies produced from its proprietary immunogen for ongoing development activities in support of its intellectual-property strategy. The monoclonal antibodies produced by the Company, designated for use as detection antibodies in the IL-6 assay, have demonstrated acceptable binding, specificity, and signal performance characteristics for their intended diagnostic use, based on internal testing conducted to date. Based on current antibody inventory, Bluejay estimates that it has sufficient material to support production of more than nine million Symphony cartridges for clinical and commercial manufacturing purposes. The Company has also established the capability to produce additional antibodies as needed.
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Bluejay Diagnostics Announces 1-for-4 Reverse Stock Split
- Reverse Stock Split Announcement: Bluejay Diagnostics has announced a 1-for-4 reverse stock split effective January 29, which will reduce its outstanding shares from approximately 2.83 million to about 708,533, aimed at increasing share price to meet listing requirements.
- Stock Price Reaction: Following the reverse split announcement, Bluejay's shares fell 2.66% in pre-market trading to $0.77, indicating market concerns regarding the company's financial health, which could impact investor confidence.
- New CUSIP Number: The new CUSIP number for Bluejay's shares post-split will be 095633608, facilitating investor identification of the stock and ensuring smooth trading operations.
- Cash Payment for Fractional Shares: The company will provide cash payments to shareholders in lieu of any fractional shares resulting from the reverse split, a measure designed to mitigate potential losses for shareholders and protect their interests.
Bluejay Diagnostics Completes Commercial Production of IL-6 Antibodies, Supporting 9 Million Symphony Cartridges
- Antibody Production Completed: Bluejay Diagnostics has successfully completed commercial-scale production of both polyclonal and monoclonal antibodies targeting interleukin-6 (IL-6), meeting internal performance criteria for use in Symphony™ cartridge manufacturing for clinical and potential commercial applications.
- Sufficient Inventory: The company estimates that its current antibody inventory can support the production of over nine million Symphony cartridges, ensuring ample material supply for clinical and commercial manufacturing, thereby enhancing its market competitiveness.
- Intellectual Property Strategy: Bluejay intends to utilize antibodies produced from its proprietary immunogen for ongoing development activities, reinforcing its position in the medical diagnostics field through a robust intellectual property strategy.
- Future Development Potential: Although the Symphony™ system is still under development and requires further validation and regulatory review, its design aims to provide rapid test results in approximately 20 minutes, assisting medical professionals in making earlier decisions, which presents significant market potential.
