Bluejay Diagnostics, Inc. Files 2023 Annual Report on Form 10-K

TL;DR

<b>Bluejay Diagnostics, Inc. filed its 2023 10-K report, detailing its corporate structure and stock listing.</b>

AI Summary

Bluejay Diagnostics, Inc. (BJDX) filed a Annual Report (10-K) with the SEC on March 28, 2024. Bluejay Diagnostics, Inc. filed its annual report on Form 10-K for the fiscal year ended December 31, 2023. The company is incorporated in Delaware and its principal executive offices are located in Acton, MA. Bluejay Diagnostics, Inc. is registered under SIC code 3841 for Surgical & Medical Instruments & Apparatus. The company's common stock trades on The Nasdaq Stock Market LLC under the symbol BJDX. Bluejay Diagnostics, Inc. is classified as a smaller reporting company and an emerging growth company.

Why It Matters

For investors and stakeholders tracking Bluejay Diagnostics, Inc., this filing contains several important signals. This filing provides a comprehensive overview of the company's financial and operational status for the fiscal year 2023, which is crucial for investors to assess performance and future prospects. As a smaller reporting and emerging growth company, this 10-K is a key document for understanding Bluejay Diagnostics' regulatory standing and disclosure obligations.

Risk Assessment

Risk Level: low — Bluejay Diagnostics, Inc. shows low risk based on this filing. The filing is a standard annual report (10-K) and does not contain immediate material news or financial performance data that would significantly alter the risk profile based solely on this header information.

Analyst Insight

Review the full 10-K filing for detailed financial statements, risk factors, and management discussion to assess Bluejay Diagnostics' operational performance and strategic outlook.

Key Numbers

• 20231231 — Fiscal Year End (Fiscal Year Ended December 31, 2023)
• 001-41031 — Commission File Number (Commission file number: 001-41031)
• 3841 — SIC Code (STANDARD INDUSTRIAL CLASSIFICATION: SURGICAL & MEDICAL INSTRUMENTS & APPARATUS [3841])
• BJDX — Trading Symbol (Common Stock, par value $0.0001 per share Trading Symbol(s): BJDX)

Key Players & Entities

• Bluejay Diagnostics, Inc. (company) — Filer name
• 0001213900-24-027305 (other) — Accession Number
• 20231231 (date) — Conformed period of report
• 20240328 (date) — Filed as of date
• 001-41031 (other) — Commission file number
• Delaware (jurisdiction) — State of incorporation
• 3841 (other) — Standard Industrial Classification
• BJDX (ticker) — Trading Symbol

FAQ

Industry Context

Bluejay Diagnostics operates within the medical instruments and apparatus industry, focusing on diagnostic solutions.

Regulatory Implications

The company is subject to SEC regulations for public companies, including the requirement to file annual reports (10-K) under the Securities Exchange Act of 1934.

What Investors Should Do

1. Analyze the full 10-K for detailed financial performance, including revenue, expenses, and profitability.
2. Examine the 'Risk Factors' section for potential challenges and uncertainties facing the company.
3. Review the 'Management's Discussion and Analysis of Financial Condition and Results of Operations' for insights into business strategy and outlook.

Key Dates

• 2023-12-31T00:00:00.000Z: Fiscal Year End — Marks the end of the reporting period for the 10-K filing.
• 2024-03-28T00:00:00.000Z: Filing Date — Date the 10-K report was officially filed with the SEC.

Year-Over-Year Comparison

This is the initial header information for the 2023 10-K filing, indicating the company is providing its annual update.

Key Financial Figures

• $0.0001 — ch registered Common Stock, par value $0.0001 per share BJDX The Nasdaq Stock Market
• $1.00 m — common stock does not satisfy Nasdaq's $1.00 minimum price per share rule and we could

Filing Documents

• ea0202261-10k_bluejay.htm (10-K) — 794KB
• ea020226101ex4-10_bluejay.htm (EX-4.10) — 29KB
• ea020226101ex31-1_bluejay.htm (EX-31.1) — 10KB
• ea020226101ex31-2_bluejay.htm (EX-31.2) — 10KB
• ea020226101ex32-1_bluejay.htm (EX-32.1) — 4KB
• ea020226101ex32-2_bluejay.htm (EX-32.2) — 4KB
• ea020226101ex97-1_bluejay.htm (EX-97.1) — 42KB
• 0001213900-24-027305.txt (&nbsp;) — 4937KB
• bjdx-20231231.xsd (EX-101.SCH) — 55KB
• bjdx-20231231_cal.xml (EX-101.CAL) — 35KB
• bjdx-20231231_def.xml (EX-101.DEF) — 262KB
• bjdx-20231231_lab.xml (EX-101.LAB) — 468KB
• bjdx-20231231_pre.xml (EX-101.PRE) — 256KB
• ea0202261-10k_bluejay_htm.xml (XML) — 407KB

BUSINESS

BUSINESS 1 ITEM 1A.

RISK FACTORS

RISK FACTORS 8 ITEM 1B. UNRESOLVED STAFF COMMENTS 27 ITEM 1C. CYBERSECURITY 27 ITEM 2.

PROPERTIES

PROPERTIES 28 ITEM 3.

LEGAL PROCEEDINGS

LEGAL PROCEEDINGS 28 ITEM 4. MINE SAFETY DISCLOSURES 28 PART II 29 ITEM 5. MARKET FOR REGISTRANT'S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES 29 ITEM 6. RESERVED 29 ITEM 7. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS 29 ITEM 7A. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 34 ITEM 8.

FINANCIAL STATEMENTS

FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA 34 ITEM 9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE 34 ITEM 9A.

CONTROLS AND PROCEDURES

CONTROLS AND PROCEDURES 35 ITEM 9B. OTHER INFORMATION 35 ITEM 9C. DISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENT INSPECTIONS 35 PART III 36 ITEM 10. DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE 36 ITEM 11.

EXECUTIVE COMPENSATION

EXECUTIVE COMPENSATION 36 ITEM 12. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS 36 ITEM 13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR INDEPENDENCE 36 ITEM 14. PRINCIPAL ACCOUNTANT FEES AND SERVICES 36 PART IV 37 ITEM 15. EXHIBITS AND FINANCIAL STATEMENT SCHEDULES 37 ITEM 16. FORM 10-K SUMMARY 39 i CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS We make forward-looking statements under the "Management's Discussion and Analysis of Financial Condition and Results of Operations" and in other sections of this Annual Report on Form 10-K ("Form 10-K"). In some cases, you can identify these statements by forward-looking words such as "may," "might," "should," "would," "could," "expect," "plan," "anticipate," "intend," "believe," "estimate," "predict," "potential" or "continue," and the negative of these terms and other comparable terminology. These forward-looking statements, which are subject to known and unknown risks, uncertainties and assumptions about us, may include projections of our future financial performance based on our growth strategies and anticipated trends in our business. These statements are only predictions based on our current expectations and projections about future events. There are important factors that could cause our actual results, level of activity, performance or achievements to differ materially from the results, level of activity, performance or achievements expressed or implied by the forward-looking statements. While we believe we have identified material risks, these risks and uncertainties are not exhaustive. Other sections of this Form 10-K may describe additional factors that could adversely impact our business and financial performance. Moreover, we operate in a very competitive and rapidly changing environment. New risks and uncertainties emerge from time to time, and it is not possible to predict all risks and uncertainties, nor c

BUSINESS

ITEM 1. BUSINESS Overview Bluejay Diagnostics, Inc. ("Bluejay") is a medical diagnostics company developing rapid tests using whole blood on our Symphony technology platform ("Symphony") to improve patient outcomes in critical care settings. Our Symphony platform is a combination of Bluejay's intellectual property ("IP") and exclusively licensed and patented IP that consists of a mobile device and single-use test cartridges that if cleared, authorized, or approved by the U.S. Food and Drug Administration (the "FDA"), can provide a solution to a significant market need in the United States. Clinical trials indicate the Symphony device produces laboratory-quality results in less than 20 minutes in critical care settings, including Intensive Care Units ("ICUs") and Emergency Rooms ("ERs"), where rapid and reliable results are required. Our first product, the Symphony IL-6 test, is for the monitoring of disease progression in critical care settings. IL-6 is a clinically established inflammatory biomarker, and is considered a first-responder,' for assessment of severity of infection and inflammation across many disease indications, including sepsis. A current challenge of healthcare professionals is the excessive time and cost associated determining a patient's level of severity at triage and our Symphony IL-6 test has the ability to consistently monitor this critical care biomarker with rapid results. In the future we plan to develop additional tests for Symphony including two cardiac biomarkers (hsTNT and NT pro-BNP) as well as other tests using the Symphony platform. We do not yet have regulatory clearance for our Symphony products, and our Symphony products will need to receive regulatory authorization from the FDA in order to be marketed as a diagnostic product in the United States. Our operations to date have been funded primarily through the proceeds of (i) our initial public offering (the "IPO") on November 2021 (the "IPO Date"), (ii) the registered direct