Bluejay Diagnostics Inc Trading Halted, News Pending
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 20h ago
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Bluejay Diagnostics Inc trading halted, news pending
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About BJDX
Bluejay Diagnostics, Inc. is a medical diagnostics company focused on improving patient outcomes in critical care settings. It develops rapid tests using whole blood on its Symphony technology platform (Symphony), which consists of an analyzer and single-use protein detection cartridges that have the function of automatic stepwise feeding of reagent. The Symphony device is designed to produce laboratory-quality results in 20 minutes in critical care settings, including Intensive Care Units (ICUs) and Emergency Rooms (ERs). Its product candidate, the Symphony IL-6 test, is an immunoassay for the measurement of interleukin-6 (IL-6) to be used for the monitoring of disease progression in critical care settings. It is focused on pursuing the Symphony IL-6 test in the context of sepsis. IL-6 is a clinically established inflammatory biomarker, and is considered a 'first-responder', for the assessment of severity of infection and inflammation across many disease indications, including sepsis.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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.
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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.
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