Bluejay Diagnostics Reports Decreased Net Loss and Financial Challenges as of June 30, 2025

Bluejay Diagnostics, Inc. reported a net loss of approximately $1.96 million for the three months ended June 30, 2025, a decrease from a net loss of $2.48 million during the same period in 2024. For the six months ended June 30, 2025, the company recorded a net loss of $3.82 million, down from $4.80 million in the prior year. The reduction in losses is attributed to a decrease in operating expenses, which totaled $1.99 million for the second quarter of 2025, compared to $1.90 million in the same quarter of 2024. The company’s accumulated deficit increased to $38.49 million as of June 30, 2025, reflecting ongoing operational challenges.

In terms of financial position, Bluejay reported cash and cash equivalents of $4.44 million as of June 30, 2025, compared to $4.30 million at the end of the previous fiscal year. Current liabilities rose to $1.04 million from $810,368, primarily due to increased accrued expenses. The company’s total assets decreased to $6.40 million from $6.66 million, driven by a reduction in prepaid expenses and other current assets. The increase in liabilities and decrease in assets indicate a tightening financial situation, raising concerns about the company’s ability to continue as a going concern without additional financing.

Strategically, Bluejay is focused on advancing its Symphony technology platform, which aims to develop rapid diagnostic tests for critical care settings. The company has completed the development of the Symphony analyzer and plans to begin cartridge redevelopment through a third-party contractor. However, the company has not yet secured regulatory clearance from the FDA for its products. Bluejay anticipates needing to raise at least $30 million in capital between the third quarter of 2025 and the end of 2027 to support its development and regulatory efforts.

Operationally, Bluejay has not generated revenue from its Symphony cartridges as of June 30, 2025. The company is currently engaged in clinical trials, including the SYMON-II study, which aims to validate the Symphony IL-6 test for monitoring sepsis. The company’s workforce remains stable, with no significant changes in employee headcount reported. However, the company has indicated that it may need to slow its clinical trial work to conserve cash resources, potentially delaying its regulatory submission timeline until 2027.

Looking ahead, Bluejay Diagnostics faces significant challenges, including the need for substantial capital to fund ongoing operations and clinical trials. The company has expressed that without immediate financing, it may be forced to consider liquidation under U.S. bankruptcy laws. The outlook remains uncertain as the company navigates its financial difficulties while attempting to bring its diagnostic products to market.