Bluejay Diagnostics (NASDAQ:BJDX) said it has completed the full exercise of all prefunded warrants issued in its October 2025 private placement, eliminating any remaining prefunded warrants as of February 19.
Following the conversions, the company now has roughly 972,000 shares of common stock outstanding. Shares were recently trading at $1.99, close to their 52-week low of $1.86, marking a steep decline of about 86% over the past 12 months.
Bluejay still has outstanding cash-exercisable warrants tied to approximately 1.5 million shares, each with an exercise price of $7.00 or higher.
The company also noted that several recent Schedule 13G filings do not reflect its 1-for-4 reverse stock split implemented on January 29, 2026. As a result, reported beneficial ownership figures may appear inflated because they are shown on a pre-split basis.
Bluejay is developing its Symphony System, a near-patient diagnostic platform designed for sepsis triage and monitoring. The system has not yet received regulatory clearance, and U.S. commercialization will require approval from the Food and Drug Administration.
With a market capitalization of roughly $0.9 million, the company remains in the pre-revenue stage. While it holds more cash than debt, it continues to consume cash at a rapid pace — a key factor for investors evaluating its financial position.
Bluejay’s lead product candidate is an interleukin-6 (IL-6) test intended to deliver results in approximately 20 minutes.
In a separate update, the company recently confirmed it has completed commercial-scale production of IL-6-targeting antibodies for use in its Symphony cartridges. The antibodies have met internal performance benchmarks and are expected to support ongoing clinical testing and future commercialization efforts.
Bluejay also implemented the previously announced 1-for-4 reverse stock split effective January 29, 2026. The company’s shares continue to trade on the Nasdaq Capital Market under the same ticker symbol, though with a new CUSIP number.