TLDR
- Bluejay pops 75% after $4.5M private placement, dips slightly after hours.
- Bluejay surges on $4.5M deal; FDA focus & sepsis test drive momentum.
- Bluejay stock jumps 75% on funding news, with post-market cooldown.
- Stock soars as Bluejay secures funding for FDA goals & sepsis test.
- Bluejay spikes on equity raise; cash boost powers diagnostics push.
Bluejay Diagnostics, Inc. (BJDX) shares experienced a dramatic surge on October 9, closing at $3.28, a 75.40% increase. The spike followed news of a $4.5 million private placement, drawing strong attention during regular trading hours. However, after-hours trading showed a modest pullback, with the stock edging down 2.74% to $3.19.
Bluejay Diagnostics, Inc. (BJDX)
The sharp rise came as the company confirmed definitive agreements to sell common stock and warrants at market-aligned prices. The terms included 2.25 million shares and Series F warrants covering up to 4.5 million additional shares. These warrants were priced attractively with an immediate exercisability and a lifespan of 5.5 years.
After-market activity reflected some profit-taking as shares slightly retreated from the day’s peak. Market participants appeared to digest the impact of new equity dilution. The private placement positioned Bluejay to significantly strengthen its capital structure.
Details of the Private Placement
The offering was priced at $2.00 per share or pre-funded warrant, which included accompanying Series F warrants. Each Series F warrant allows the holder to purchase two shares of common stock at an exercise price of $1.75. All warrants became exercisable upon issuance and will remain valid for 5.5 years.
Rodman and Renshaw LLC served as the exclusive placement agent, overseeing the transaction conducted under Nasdaq’s at-the-market pricing rules. The structure ensured the offering complied with federal securities regulations via exemption under Section 4(a)(2) and Regulation D. Additionally, the company committed to filing a resale registration statement for the underlying securities.
The total gross proceeds are expected to be $4.5 million before deducting placement fees and associated costs. Bluejay plans to allocate the net proceeds toward FDA approval-related matters, clinical research, and general working capital. These funds are designed to accelerate product development while supporting key regulatory milestones.
Company Focus and Strategic Goals
Bluejay Diagnostics focuses on near-patient diagnostics, specifically targeting urgent and critical care settings. Its lead product, the IL-6 Test for sepsis, runs on the company’s proprietary Symphony System platform. The system provides rapid and reliable results in approximately 20 minutes, facilitating swift triage decisions.
The IL-6 Test aims to support early diagnosis and treatment of sepsis, which remains a leading cause of hospital mortality. With the expected FDA submission ahead, the company is directing resources to push clinical validation and regulatory clearance. This aligns with Bluejay’s broader goal of delivering affordable and accurate testing at the point of care.
Bluejay’s strengthened balance sheet provides room to advance its core diagnostic initiatives. The combination of funding momentum and progress toward FDA submission suggests an active development cycle ahead. If successfully executed, these steps could position the company for strategic growth within the medical diagnostics market.
