Quarterly ResultMay 7, 2026, 04:23 PM
Bluejay Diagnostics Q1 Net Loss $(1.92)M; Going Concern Warning
AI Summary
Bluejay Diagnostics reported a net loss of $(1.92) million for Q1 2026, an increase from $(1.86) million in Q1 2025, with cash and cash equivalents decreasing to $3.68 million. The company issued a going concern warning, stating current cash resources will fund operations only through Q3 2026 and requires at least $20 million by the end of 2027. Despite financial challenges, Bluejay is progressing with its SYMON-II clinical study for the Symphony IL-6 test, having enrolled approximately 680 of 750 target patients.
Key Highlights
- Net loss for Q1 2026 was $(1,919,241), up from $(1,864,435) in Q1 2025.
- Net loss per share was $(1.95) for Q1 2026, compared to $(13.46) in Q1 2025.
- Cash and cash equivalents decreased to $3,684,457 as of March 31, 2026.
- Net cash used in operating activities was $(1,589,200) for Q1 2026.
- Company expects cash to fund operations only through Q3 2026.
- Requires at least $20 million in capital by the end of fiscal year 2027.
- SYMON-II clinical study enrolled approximately 680 of 750 target sepsis patients.
- A 1-for-4 reverse stock split was effective on January 29, 2026.