0001213900-23-067273 | 10-Q | XBRL Viewer

	Depreciable lives	June 30, 2023			December 31, 2022
Construction-in-process		$	956,389		$	375,466
Furniture, fixtures, and equipment	3-5 years		141,164			136,942
Software	3-5 years		4,457			4,457
Lab equipment	3-5 years		1,287,783			1,268,380
Leasehold improvements	Shorter of useful life or lease term		43,231			43,231
			2,433,024			1,828,476
Less: accumulated depreciation			(968,899	)		(596,406	)
Property and equipment, net		$	1,464,125		$	1,232,070

The Company reviews long-lived assets for impairment when events, expectations, or changes in circumstances indicate that the asset’s carrying value may not be recoverable. As a result of this review in 2023, the Company revised the useful life of certain lab equipment in the first quarter of 2023 due to a change in expectations of the time the equipment will be used which resulted in approximately $247,000 of additional depreciation recorded in the six months ended June 30, 2023.

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:
Net Loss	$ (5,353,148)	$ (3,950,805)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation expense	373,192	83,792
Stock-based compensation expense	247,293	232,200
Amortization of right-of-use asset	80,655	66,972
Impairment of property and equipment	1,787
Changes in operating assets and liabilities:
Inventory		(671,250)
Prepaid expenses and other current assets	191,968	575,563
Other non-current assets	3,536	(14,056)
Accounts payable	(429,590)	(99,670)
Due to related party		(2,000)
Accrued expenses and other current liabilities	472,980	242,937
Net cash used in operating activities	(4,411,327)	(3,536,317)
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of property and equipment	(541,774)	(169,599)
Net cash used in investing activities	(541,774)	(169,599)
CASH FLOWS FROM FINANCING ACTIVITIES:
Payment of tax withholding obligations on restricted stock units	(59,079)
Payment of finance lease	(2,403)
Net cash used in financing activities	(61,482)
Decrease in cash and cash equivalents	(5,014,583)	(3,705,916)
Cash and cash equivalents, beginning of period	10,114,990	19,047,778
Cash and cash equivalents, end of period	5,100,407	15,341,862
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION AND NON-CASH FINANCING ACTIVITIES
Liabilities incurred for the purchase of property and equipment	$ 65,260

Leases (Details) - Schedule of Lease Assets and Liabilities - USD ($)	6 Months Ended	12 Months Ended
	Jun. 30, 2023	Dec. 31, 2022
Schedule of lease assets and liabilities [Abstract]
Operating lease right-of-use asset	$ 400,609	$ 465,514
Finance lease asset – property & equipment, net	21,067	21,067
Total lease assets	421,676	486,581
Current portion of operating lease liability included in accrued expenses	168,713	168,706
Current portion of finance lease liability included in accrued expenses	4,807	4,807
Non-current operating lease liabilities	255,306	323,915
Non-current finance lease liabilities included in other non-current liabilities	14,103	15,823
Total lease liabilities	$ 442,928	$ 513,251

Stock Compensation (Details) - USD ($)	6 Months Ended
Stock Compensation (Details) - USD ($)	Jun. 30, 2023	Jun. 30, 2022	Feb. 23, 2023
Stock Compensation (Details) [Line Items]
RSU bonus grant			18,734
Weighted average grant date fair value of options granted (in Dollars per share)	$ 8.8	$ 28.33
Unrecognized compensation expense (in Dollars)	$ 56,881
Weighted-average period	10 months 24 days
Non-vested stock option [Member]
Stock Compensation (Details) [Line Items]
Unrecognized compensation expense (in Dollars)	$ 64,426
Weighted-average period	1 year 4 months 24 days
2018 Stock Incentive Plan [Member]
Stock Compensation (Details) [Line Items]
Shares reserved for issuance	31,472
Shares available for grants	13,113
2021 Plan [Member]
Stock Compensation (Details) [Line Items]
Shares reserved for issuance	98,000
Shares available for grants	40,377

Related Party Transactions (Details)	12 Months Ended
Related Party Transactions (Details)	Dec. 31, 2021
Related Party Transactions [Abstract]
Percentage of employees cost	10.00%

Commitments and Contingencies

6 Months Ended

Jun. 30, 2023

Commitments and Contingencies [Abstract]

COMMITMENTS AND CONTINGENCIES

9. COMMITMENTS AND CONTINGENCIES

Purchase Commitments

The Company had, as of June 30, 2023, open, non-cancelable purchase commitments with its primary contract manufacturing organization (CMO) of $383,000 for manufacturing line development and $580,000 for initial production units. The Company also had $416,000 of other non-cancelable purchase commitments for research and development supplies and key advisory services.

Minimum Royalties

As required under the License Agreement (see Note 3), following the first sale of Cartridges, the Company will also make royalty payments to Toray equal to 15% of the net sales of the Cartridges for the period that any underlying patents exist or for 5 years after the first sale. Following the first sale, the Company will pay a one-time minimum royalty of $60,000, which shall be creditable against any royalties owed to Toray in such calendar year. The Company will pay a minimum royalty of $100,000 in each year thereafter, which are creditable against any royalties owed to Toray in such calendar year. There were no sales of or revenues from the Cartridges through June 30, 2023.

Indemnification

The Company has certain agreements with service providers with which it does business that contain indemnification provisions pursuant to which the Company typically agrees to indemnify the party against certain types of third-party claims. The Company accrues for known indemnification issues when a loss is probable and can be reasonably estimated. The Company would also accrue for estimated incurred but unidentified indemnification issues based on historical activity. As the Company has not incurred any indemnification losses to date, there were no accruals for or expenses related to indemnification issues for any period presented.

Stock Compensation (Tables)

6 Months Ended

Jun. 30, 2023

Stock Compensation [Abstract]

Schedule of Non-vested Restricted Stock Awards

The following table summarizes the status of the Company’s non-vested restricted stock awards for the six months ended June 30, 2023:

	Non-vested Restricted Stock Awards
	Number of Shares			Weighted Average Grant Date Fair Value
Outstanding at December 31, 2022		3,000		$	25.80
Granted		25,609			8.80
Vested		(19,484	)		9.45
Forfeited		(750	)		25.80
Outstanding at June 30, 2023		8,375		$	11.84

Schedule of Stock Option Activity

The following is a summary of stock option activity for the six months ended June 30, 2023:

	Number of Stock Options			Weighted Average Exercise Price Per Share		Weighted Average Remaining Contractual Life in Years		Aggregate Intrinsic Value
Outstanding at December 31, 2022		35,992		$	39.25		6.5	$	20,578
Granted		1,000			10.60
Exercised		-			-
Cancelled and forfeited		(1,133	)		64.00
Outstanding at June 30, 2023		35,858		$	37.67		7.4	$	9,531
Exercisable at June 30, 2023		28,222		$	37.22		7.1	$	9,531

Schedule of Grant-Date Fair Value of Share-Based Awards Granted

The Company calculated the grant-date fair value of stock option awards granted during the six months ended June 30, 2023 and 2022 using the Black-Scholes model with the following assumptions:

	Six Months Ended June 30,
	2023		2022
Risk-free interest rate		3.63%		1.58% – 3.06%
Expected dividend yield		0.00%		0.00%
Volatility factor		108.78%		102.03% - 104.40%
Expected life of option (in years)		6.00		5.37 – 6.00

Schedule of Stock-Based Compensation Expense

For the three and six months ended June 30, 2023 and 2022, the Company recorded stock-based compensation expense as follows:

	Three Months Ended June 30,					Six Months Ended June 30,
	2023			2022		2023		2022
Research and development	$	151		$	16,392	$	44,996	$	33,704
General and administrative		28,662			89,562		188,246		197,866
Sales and marketing		(1,110	)		160		14,050		630
Total stock-based compensation	$	27,703		$	106,114	$	247,292	$	232,200

Warrants

6 Months Ended

Jun. 30, 2023

Warrants [Abstract]

WARRANTS

4. WARRANTS

The following table summarizes information with regard to warrants outstanding as of June 30, 2023:

	Shares		Exercisable for	Weighted Average Exercise Price			Weighted Average Remaining Life (in Years)
Common Stock Warrants		40,594	Common Stock	$	64.80			2.6
Class A Warrants		124,200	Common Stock	$	140.00			3.3
Class B Warrants		3,770	Common Stock	$	200.00	¹		3.3

¹	Class B Warrants may also exercise such warrants on a “cashless” basis. See Class A Warrants and Class B Warrants subsection below.

No warrants were issued during the three and six months ended June 30, 2023 and 2022.

Class A Warrants and Class B Warrants

In conjunction with the Company’s IPO in November 2021 the Company issued 108,000 Class A Warrants and 108,000 Class B Warrants. Additionally, the underwriter of the IPO exercised their overallotment option, solely with respect to the Class A Warrants and Class B Warrants, shortly after the IPO Date resulting in an additional issuance of 16,200 Class A Warrants and 16,200 Class B Warrants. From the net IPO proceeds, $5,164,751 and $7,323,161, respectively, were apportioned to the Class A Warrants and Class B Warrants.

Class A Warrants entitle the holder to purchase one share of common stock at an exercise price of $140.00 per share. As of June 30, 2023 and 2022 all Class A Warrants were outstanding.

Class B Warrants entitle the holder to purchase one share of common stock at an exercise price of $200.00 per share. Holders of Class B Warrants may also exercise such warrants on a “cashless” basis after the earlier of (i) 10 trading days from closing date of the offering or (ii) the time when $10.0 million of volume is traded in the Company’s common stock, if the volume weighted average price of the Company’s common stock on any trading day on or after the closing date of the offering fails to exceed the exercise price of the Class B Warrant (subject to adjustment as described in the warrant agreement). During the six months ended June 30, 2023, no Class B Warrants were exercised, while during the six months ended June 30, 2022, 2,005 Class B Warrants were exercised, all on a cashless basis. As of June 30, 2023 and 2022, there were 3,770 Class B Warrants outstanding.

Supplemental Balance Sheet Information (Details) - Schedule of Accrued Expenses and Other Current Liabilities - USD ($)	Jun. 30, 2023	Dec. 31, 2022
Schedule of Accrued Expenses and Other Current Liabilities [Abstract]
Accrued personnel costs	$ 568,350	$ 533,577
Accrued good receipts	100,249	10,077
Accrued other	723,779	292,076
Total accrued expenses and other current liabilities	$ 1,392,378	$ 835,730

License and Supply Agreement with Toray Industries

6 Months Ended

Jun. 30, 2023

License and Supply Agreement with Toray Industries [Abstract]

LICENSE AND SUPPLY AGREEMENT WITH TORAY INDUSTRIES

3. LICENSE AND SUPPLY AGREEMENT WITH TORAY INDUSTRIES

On October 6, 2020, the Company entered into a License and Supply Agreement (“License Agreement”) with Toray Industries, Inc. (“Toray”). Under the License Agreement, the Company received the exclusive license (outside of Japan) to make and distribute protein detection cartridges that have a function of automatic stepwise feeding of reagent (the “Cartridges”). In addition, following the first sale of the Cartridges after regulatory approval, the Company will make royalty payments to Toray equal to 15% of the net sales of the Cartridges for the period that any underlying patents exist or five years after the first sale. Following the first sale after obtaining regulatory approval, the Company will make minimum annual royalty payments of $60,000 for the first year and $100,000 for each year thereafter, which shall be creditable against any royalties owed to Toray in such calendar year. There were no sales of or revenues from the Cartridges during the six-month periods ended June 30, 2023 and 2022.

As of June 30, 2023 and December 31, 2022, there were no amounts accrued related to the License Agreement.

License and Supply Agreement with Toray Industries (Details) - USD ($)		6 Months Ended
	Oct. 06, 2020	Jun. 30, 2023
License and Supply Agreement with Toray Industries (Details) [Line Items]
Percentage of royalty payments	15.00%
Sale term	5 years
Maximum [Member]
License and Supply Agreement with Toray Industries (Details) [Line Items]
Annual royalty payments		$ 100,000
Minimum [Member]
License and Supply Agreement with Toray Industries (Details) [Line Items]
Annual royalty payments		$ 60,000

Nature of Operations and Basis of Presentation

6 Months Ended

Jun. 30, 2023

Nature of Operations and Basis of Presentation [Abstract]

NATURE OF OPERATIONS AND BASIS OF PRESENTATION

1. NATURE OF OPERATIONS AND BASIS OF PRESENTATION

Business

Bluejay Diagnostics, Inc. (“Bluejay” or the “Company”) 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. The Company’s 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 intensive care units and emergency rooms, where rapid and reliable results are required.

Bluejay’s 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, 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 the Symphony IL-6 test has the ability to consistently monitor this critical care biomarker with rapid results.

In the future, Bluejay plans to develop additional tests for Symphony including two cardiac biomarkers (hsTNT and NT pro-BNP), as well as other tests using the Symphony platform. The Company does not yet have regulatory clearance for its Symphony products, and its Symphony products will need to receive regulatory authorization from the FDA in order to be marketed as a diagnostic product in the United States.

Bluejay’s operations to date have been funded primarily through the proceeds of the Company’s initial public offering (the “IPO”) in November 2021 (the “IPO Date”).

On June 4, 2021, the Company formed Bluejay Spinco, LLC, a wholly owned subsidiary of the Company, for potential further development of the Company’s ALLEREYE diagnostic test. ALLEREYE is a point-of-care device offering healthcare providers a solution for diagnosing Allergic Conjunctivitis.

FDA Regulatory Strategy

The Company’s current regulatory strategy is designed to support commercialization of Symphony in the United States pending marketing authorization from the FDA. The Company has shifted its focus away from COVID-19 patients due to a significant decline in the number of COVID-19 related hospitalizations. Based on this revised strategy, the Company plans to conduct a clinical study to support an FDA regulatory submission with an initial indication for risk stratification of hospitalized sepsis patients. The Company submitted a pre-submission application to the FDA presenting the new study design in May 2023 and participated in a pre-submission meeting on August 11, 2023. At the meeting, the FDA provided feedback on the new study design, determined that the submission of a 510(k) is the appropriate premarket submission pathway, and requested that certain data be provided in the 510(k). Based on this feedback, the Company intends to proceed as planned while taking into account the FDA’s feedback. The Company believes that it will maintain the previously disclosed Symphony IL-6 regulatory submission timeline of the first half of 2024.

The Company has targeted large, well-known medical and academic institutions for its study, which the Company believes will help support initial commercialization and market penetration. The Company believes that this clinical trial expansion could also support additional indications, but that any such expansion also could delay obtaining marketing authorization for the product. Based on the pre-submission meeting with the FDA, the focus of the clinical trial will be the risk stratification of hospitalized sepsis patients.

The Company maintains contracts with Toray Industries, Inc (“Toray”) to manufacture our cartridges and Sanyoseiko Co. Ltd (“Sanyoseiko”) to manufacture both our device and cartridges.

Risks and Uncertainties

As noted above, Bluejay is reliant upon Toray and Sanyoseiko to provide cartridges in sufficient quantity and quality to complete our clinical trials, and our clinical trials could be delayed if the Company encountered any material supply interruptions while the clinical trials are being conducted. In addition, there can be no assurance that we will be able to obtain necessary regulatory authorization for the manufacturing or marketing of the Symphony in the United States or elsewhere. There also can be no assurance that we will successfully complete any clinical evaluations necessary to receive regulatory approvals, or that the clinical trial will demonstrate sufficient safety and efficacy of the Symphony. The failure to adequately demonstrate the clinical performance of the Symphony device could delay or prevent regulatory approval of the device, which could prevent or result in delays to market launch and could materially harm our business.

In addition to the FDA regulatory strategy risks and uncertainties, the Company is subject to a number of risks similar to other companies in its industry, including rapid technological change, competition from larger biotechnology companies and dependence on key personnel. The Company is also impacted by inflationary pressures and global supply chain disruptions currently impacting many companies.

On October 25, 2022, the Company received a notification letter from the Nasdaq Listing Qualifications Staff of The Nasdaq Stock Market LLC (“Nasdaq”) notifying the Company that the closing bid price for its common stock had been below $1.00 for the previous 30 consecutive business days and that the Company therefore is not in compliance with the minimum bid price requirement for continued inclusion on the Nasdaq Capital Market under Nasdaq Listing Rule 5550(a)(2). On April 25, 2023, at the Company’s request, Nasdaq’s Listing Qualifications Staff notified the Company that it has extended the time for the Company to regain compliance with the Minimum Bid Requirement until October 23, 2023. To regain compliance, the closing bid price of the Company’s common stock must be at least $1.00 or higher for a minimum of ten consecutive business days.

On July 24, 2023, the Company executed a reverse stock split of its shares of common stock at a ratio of 1-for-20 (the “Reverse Stock Split”), with a corresponding reduction in the number of authorized outstanding number of shares of common stock from 100,000,000 to 7,500,000. The Reverse Stock Split became effective on July 24, 2023, when the Company’s common stock opened for trading on The Nasdaq Capital Market on a post-split basis under the Company’s existing trading symbol, “BJDX.” At such time, the Company’s common stock also commenced trading with a new CUSIP number, 095633301.

On August 8, 2023, the Company received a letter from the Listing Qualifications Department of Nasdaq notifying the Company that, based on the closing bid price of the Company’s common stock having been at least $1.00 per share for the required period, the Company has regained compliance with Nasdaq Listing Rule 5550(a)(2) and the minimum bid price deficiency matter previously disclosed by the Company on October 25, 2022 is now closed.

All of the Company’s historical share and per share information related to issued and outstanding common stock and outstanding options and warrants exercisable for common stock in these financial statements have been adjusted, on a retroactive basis, to reflect this 1-for-20 reverse stock split.

Going Concern

The Consolidated Financial Statements for the interim periods ended June 30, 2023 and 2022 were prepared under the assumption that the Company will continue as a going concern, which contemplates that the Company will be able to realize assets and discharge liabilities in the normal course of business. However, the Company has incurred net losses since its inception, and has negative cash flows from operations and will need additional funding to complete planned development efforts. These conditions raise substantial doubt about the Company’s ability to continue as a going concern.

The Company had cash and cash equivalents of $5.1 million as of June 30, 2023. It continues to develop the Symphony device and its first test for the measurement of IL-6. It remains committed to obtaining FDA clearance and will conduct clinical trials to obtain sufficient data to support its FDA submission, while also continuing to build its manufacturing operations with its contract manufacturing organizations. Current cash resources and expected operating expenses are considered in determining its liquidity requirement; as well as $1.8 million of current liabilities on its balance sheet as of June 30, 2023 and commitments of approximately $1.9 million as of June 30, 2023 (see Notes 8 and 9). The Company estimates cash resources will be sufficient to fund its operations into the fourth quarter of 2023. The Company will need additional capital to fund its planned operations for the next 12 months.

The Company expects that it will seek to raise such additional capital through public or private equity offerings, grant financing and support from governmental agencies, convertible debt, collaborations, strategic alliances and distribution arrangements. Additional funds may not be available when it needs them on terms that are acceptable to them, or at all. If adequate funds are not available, it may be required to delay its FDA regulatory strategy, and to delay or reduce the scope of its research or development programs, its commercialization efforts or its manufacturing commitments and capacity. In addition, if it raises additional funds through collaborations, strategic alliances or distribution arrangements with third parties, it may have to relinquish valuable rights to its technologies or future revenue streams.

Basis of Presentation

The accompanying unaudited condensed consolidated financial statements of the Company have been prepared in conformity with generally accepted accounting principles in the United States (“US GAAP”) consistent with those applied in, and should be read in conjunction with, the Company’s audited financial statements and related footnotes for the year ended December 31, 2022 included in the Company’s Annual Report on Form 10-K. The unaudited condensed consolidated financial statements reflect all adjustments, which include only normal recurring adjustments, necessary for the fair presentation of the Company’s financial position as of June 30, 2023 and December 31, 2022, its results of operations and cash flows for the three and six months ended June 30, 2023 and 2022, in accordance with US GAAP. The unaudited condensed consolidated financial statements do not include all of the information and footnotes required by US GAAP for complete financial statements, as allowed by the relevant U.S. Securities and Exchange Commission (“SEC”) rules and regulations; however, the Company believes that its disclosures are adequate to ensure that the information presented is not misleading. The condensed consolidated financial statements include the accounts of the Company and its wholly owned subsidiary. All intercompany balances and transactions have been eliminated in consolidation.

The results for the three and six months ended June 30, 2023 are not necessarily indicative of the results that may be expected for the fiscal year ending December 31, 2023, or any other interim period within this fiscal year.

Condensed Consolidated Statements of Changes in Stockholders’ Equity (Unaudited) - USD ($)	Common Stock	Additional Paid-In Capital	Accumulated Deficit	Total
Balance at Dec. 31, 2021	$ 101	$ 28,076,394	$ (7,694,786)	$ 20,381,709
Balance (in Shares) at Dec. 31, 2021	1,005,612
Impact of adoption of ASC 842			(5,368)	(5,368)
Stock-based compensation expense		126,086		126,086
Exercise of common stock Series B Warrants
Exercise of common stock Series B Warrants (in Shares)	1,950
Net loss			(2,013,403)	(2,013,403)
Balance at Mar. 31, 2022	$ 101	28,202,480	(9,713,557)	18,489,024
Balance (in Shares) at Mar. 31, 2022	1,007,562
Balance at Dec. 31, 2021	$ 101	28,076,394	(7,694,786)	20,381,709
Balance (in Shares) at Dec. 31, 2021	1,005,612
Net loss				(3,950,805)
Balance at Jun. 30, 2022	$ 101	28,308,594	(11,650,959)	16,657,736
Balance (in Shares) at Jun. 30, 2022	1,007,617
Balance at Mar. 31, 2022	$ 101	28,202,480	(9,713,557)	18,489,024
Balance (in Shares) at Mar. 31, 2022	1,007,562
Stock-based compensation expense		106,114		106,114
Exercise of common stock Series B Warrants
Exercise of common stock Series B Warrants (in Shares)	55
Net loss			(1,937,402)	(1,937,402)
Balance at Jun. 30, 2022	$ 101	28,308,594	(11,650,959)	16,657,736
Balance (in Shares) at Jun. 30, 2022	1,007,617
Balance at Dec. 31, 2022	$ 101	28,538,274	(16,997,102)	11,541,273
Balance (in Shares) at Dec. 31, 2022	1,010,764
Stock-based compensation expense		54,730		54,730
Grants of fully vested restricted stock units to settle accrued bonus, net of shares withheld	$ 1	107,234		107,234
Grants of fully vested restricted stock units to settle accrued bonus, net of shares withheld (in Shares)	12,188
Net loss			(2,539,843)	(2,539,843)
Balance at Mar. 31, 2023	$ 102	28,700,238	(19,536,945)	9,163,395
Balance (in Shares) at Mar. 31, 2023	1,022,953
Balance at Dec. 31, 2022	$ 101	28,538,274	(16,997,102)	11,541,273
Balance (in Shares) at Dec. 31, 2022	1,010,764
Net loss				(5,353,148)
Balance at Jun. 30, 2023	$ 102	28,726,487	(22,350,250)	6,376,339
Balance (in Shares) at Jun. 30, 2023	1,023,345
Balance at Mar. 31, 2023	$ 102	28,700,238	(19,536,945)	9,163,395
Balance (in Shares) at Mar. 31, 2023	1,022,953
Stock-based compensation expense		27,702		27,702
Issuance of common stock
Issuance of common stock (in Shares)	750
RSU tax withholding		(1,453)		(1,453)
RSU tax withholding (in Shares)	(358)
Net loss			(2,813,305)	(2,813,305)
Balance at Jun. 30, 2023	$ 102	$ 28,726,487	$ (22,350,250)	$ 6,376,339
Balance (in Shares) at Jun. 30, 2023	1,023,345

Subsequent Events

6 Months Ended

Jun. 30, 2023

Subsequent Events [Abstract]

SUBSEQUENT EVENTS

11. SUBSEQUENT EVENTS

On July 24, 2023, the Company executed a reverse stock split of its shares of common stock at a ratio of 1-for-20, with a corresponding reduction in the number of authorized outstanding number of shares of common stock from 100,000,000 to 7,500,000. All of the Company’s historical share and per share information related to issued and outstanding common stock and outstanding options and warrants exercisable for common stock in these financial statements have been adjusted, on a retroactive basis, to reflect this 1-for-20 reverse stock split.

Property and Equipment (Details) - Schedule of Property and Equipment - USD ($)	6 Months Ended
	Jun. 30, 2023	Dec. 31, 2022
Property, Plant and Equipment [Line Items]
Property and equipment, total	$ 2,433,024	$ 1,828,476
Less: accumulated depreciation	(968,899)	(596,406)
Property and equipment, net	1,464,125	1,232,070
Construction-in-process [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, total	956,389	375,466
Furniture, fixtures, and equipment [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, total	$ 141,164	136,942
Furniture, fixtures, and equipment [Member] \| Minimum [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, depreciable lives	3 years
Furniture, fixtures, and equipment [Member] \| Maximum [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, depreciable lives	5 years
Software [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, total	$ 4,457	4,457
Software [Member] \| Minimum [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, depreciable lives	3 years
Software [Member] \| Maximum [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, depreciable lives	5 years
Lab equipment [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, total	$ 1,287,783	1,268,380
Lab equipment [Member] \| Minimum [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, depreciable lives	3 years
Lab equipment [Member] \| Maximum [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, depreciable lives	5 years
Leasehold improvements [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, depreciable lives	Shorter of useful life or lease term
Property and equipment, total	$ 43,231	$ 43,231

Related Party Transactions (Tables)

6 Months Ended

Jun. 30, 2023

Schedule of Summarizes Amounts

The table below summarizes the amounts earned and due from NanoHybrids

	Three Months Ended June 30,				Six Months Ended June 30,
	2023		2022		2023		2022
Income from NanoHybrids included in Other Income	$	40,975	$	35,040	$	136,773	$	75,926
Cash receipts from NanoHybrids	$	136,773	$	18,347	$	156,504	$	40,886

	As of
	June 30, 2023		December 31, 2022
Amounts receivable from NanoHybrids included in Prepaids and Other Current Assets	$	-	$	19,731

Stock Compensation

6 Months Ended

Jun. 30, 2023

Stock Compensation [Abstract]

STOCK COMPENSATION

5. STOCK COMPENSATION

Stock Incentive Plans

In 2018, the Company adopted the 2018 Stock Incentive Plan (the “2018 Plan”) for employees, consultants, and directors. The 2018 Plan, administered by the Board of Directors, permits the Company to grant incentive and nonqualified stock options for the purchase of common stock and restricted stock awards. The maximum number of shares reserved for issuance under the 2018 Plan is 31,472. As of June 30, 2023, there were 13,113 shares available for grant under the 2018 Plan.

On July 6, 2021, the Company’s board of directors and stockholders approved and adopted the Bluejay Diagnostics, Inc. 2021 Stock Plan (the “2021 Plan”). A total of 98,000 shares of common stock were approved to be initially reserved for issuance under the 2021 Stock Plan. As of June 30, 2023, there were 40,377 shares available for grant under the 2021 Plan.

Stock Award Activity

The following table summarizes the status of the Company’s non-vested restricted stock awards for the six months ended June 30, 2023:

	Non-vested Restricted Stock Awards
	Number of Shares			Weighted Average Grant Date Fair Value
Outstanding at December 31, 2022		3,000		$	25.80
Granted		25,609			8.80
Vested		(19,484	)		9.45
Forfeited		(750	)		25.80
Outstanding at June 30, 2023		8,375		$	11.84

In February 2023, the Company issued 18,734 fully vested restricted stock units to certain employees as a portion of their 2022 bonuses.

The following is a summary of stock option activity for the six months ended June 30, 2023:

	Number of Stock Options			Weighted Average Exercise Price Per Share		Weighted Average Remaining Contractual Life in Years		Aggregate Intrinsic Value
Outstanding at December 31, 2022		35,992		$	39.25		6.5	$	20,578
Granted		1,000			10.60
Exercised		-			-
Cancelled and forfeited		(1,133	)		64.00
Outstanding at June 30, 2023		35,858		$	37.67		7.4	$	9,531
Exercisable at June 30, 2023		28,222		$	37.22		7.1	$	9,531

The weighted average grant date fair value of options granted during the six months ended June 30, 2023 and 2022 was $8.80 per share and $28.33 per share, respectively. The Company calculated the grant-date fair value of stock option awards granted during the six months ended June 30, 2023 and 2022 using the Black-Scholes model with the following assumptions:

	Six Months Ended June 30,
	2023		2022
Risk-free interest rate		3.63%		1.58% – 3.06%
Expected dividend yield		0.00%		0.00%
Volatility factor		108.78%		102.03% - 104.40%
Expected life of option (in years)		6.00		5.37 – 6.00

Stock-Based Compensation Expense

For the three and six months ended June 30, 2023 and 2022, the Company recorded stock-based compensation expense as follows:

	Three Months Ended June 30,					Six Months Ended June 30,
	2023			2022		2023		2022
Research and development	$	151		$	16,392	$	44,996	$	33,704
General and administrative		28,662			89,562		188,246		197,866
Sales and marketing		(1,110	)		160		14,050		630
Total stock-based compensation	$	27,703		$	106,114	$	247,292	$	232,200

As of June 30, 2023, there was $64,426 of unrecognized compensation expense related to non-vested stock option awards that are expected to be recognized over a weighted-average period of 1.4 years. As of June 30, 2023, there was $56,881 of unrecognized compensation expense related to non-vested restricted stock awards that are expected to be recognized over a weighted-average period of 0.9 years.

Condensed Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Income Statement [Abstract]
Revenue		$ 249,040		$ 249,040
Cost of sales		200,129		200,129
Gross profit		48,911		48,911
Operating expenses:
Research and development	1,676,256	756,283	3,030,805	1,451,040
General and administrative	1,073,103	1,196,996	2,250,080	2,516,815
Sales and marketing	154,329	81,357	302,375	135,042
Total operating expenses	2,903,688	2,034,636	5,583,260	4,102,897
Operating loss	(2,903,688)	(1,985,725)	(5,583,260)	(4,053,986)
Other income:
Other income, net	90,383	48,323	230,112	103,181
Total other income, net	90,383	48,323	230,112	103,181
Net loss	$ (2,813,305)	$ (1,937,402)	$ (5,353,148)	$ (3,950,805)
Net loss per share - Basic and diluted (in Dollars per share)	$ (2.75)	$ (2)	$ (5.24)	$ (2)
Weighted average common shares outstanding:
Basic and diluted (in Shares)	1,023,052	1,007,115	1,020,865	1,007,115

Leases (Details) - Schedule of Lease Arrangements for Office and Laboratory Space - USD ($)	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Schedule of lease arrangements for office and laboratory space [Abstract]
Weighted average remaining lease term – operating leases (in years)	3 years 3 months 18 days	4 years 1 month 6 days
Weighted average remaining lease term – finance leases (in years)	4 years 7 months 6 days
Weighted average discount rate	7.00%	7.00%
Operating cash flows from operating leases	$ 84,352	$ 71,421
Operating cash flows from finance leases	$ 2,403

Property and Equipment (Tables)

6 Months Ended

Jun. 30, 2023

Property and Equipment [Abstract]

Schedule of Property and Equipment

Property and equipment consisted of the following at June 30, 2023 and December 31, 2022:

	Depreciable lives	June 30, 2023			December 31, 2022
Construction-in-process		$	956,389		$	375,466
Furniture, fixtures, and equipment	3-5 years		141,164			136,942
Software	3-5 years		4,457			4,457
Lab equipment	3-5 years		1,287,783			1,268,380
Leasehold improvements	Shorter of useful life or lease term		43,231			43,231
			2,433,024			1,828,476
Less: accumulated depreciation			(968,899	)		(596,406	)
Property and equipment, net		$	1,464,125		$	1,232,070

Subsequent Events (Details) - Subsequent Event [Member]	Jul. 24, 2023 shares
Maximum [Member]
Subsequent Events (Details) [Line Items]
Number of authorized outstanding shares	100,000,000
Minimum [Member]
Subsequent Events (Details) [Line Items]
Number of authorized outstanding shares	7,500,000

Related Party Transactions (Details) - Schedule of Summarizes Amounts - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Schedule Of Amounts Earned And Due [Abstract]
Income from NanoHybrids included in Other Income	$ 40,975	$ 35,040	$ 136,773	$ 75,926
Cash receipts from NanoHybrids	$ 136,773	$ 18,347	$ 156,504	$ 40,886
Amounts receivable from NanoHybrids included in Prepaids and Other Current Assets					$ 19,731

Property and Equipment (Details)	6 Months Ended
Property and Equipment (Details)	Jun. 30, 2023 USD ($)
Property and Equipment [Abstract]
Additional depreciation	$ 247,000

Warrants (Details) - USD ($)	1 Months Ended	6 Months Ended
Warrants (Details) - USD ($)	Nov. 30, 2021	Jun. 30, 2023	Jun. 30, 2022
Warrants (Details) [Line Items]
Class B Warrant rights, description		Holders of Class B Warrants may also exercise such warrants on a “cashless” basis after the earlier of (i) 10 trading days from closing date of the offering or (ii) the time when $10.0 million of volume is traded in the Company’s common stock, if the volume weighted average price of the Company’s common stock on any trading day on or after the closing date of the offering fails to exceed the exercise price of the Class B Warrant (subject to adjustment as described in the warrant agreement).
Class A Warrants [Member]
Warrants (Details) [Line Items]
Initial public offering proceeds (in Dollars)	$ 5,164,751
Class B Warrants [Member]
Warrants (Details) [Line Items]
Initial public offering proceeds (in Dollars)	$ 7,323,161
Warrants exercised			2,005
Class A Warrants [Member]
Warrants (Details) [Line Items]
Warrants issued	108,000
Additional issuance of warrants	16,200
Issuance exercise price, per share (in Dollars per share)		$ 140	$ 140
Warrants outstanding
Class B Warrants [Member]
Warrants (Details) [Line Items]
Warrants issued	108,000
Additional issuance of warrants	16,200
Issuance exercise price, per share (in Dollars per share)		$ 200
Warrants outstanding		3,770	3,770

Nature of Operations and Basis of Presentation (Details) - USD ($) $ / shares in Units, $ in Millions	1 Months Ended	6 Months Ended
	Apr. 25, 2023	Jun. 30, 2023	Aug. 08, 2023	Jul. 24, 2023	Dec. 31, 2022
Nature of Operations and Basis of Presentation (Details) [Line Items]
Common stock closing price (in Dollars per share)	$ 1
Common stock, shares authorized (in Shares)		7,500,000		100,000,000	7,500,000
Cash and cash equivalents		$ 5.1
Accounts payable and accrued expenses		1.8
Capital commitments		$ 1.9
Common Stock [Member]
Nature of Operations and Basis of Presentation (Details) [Line Items]
Common stock, shares authorized (in Shares)				7,500,000
Subsequent Event [Member]
Nature of Operations and Basis of Presentation (Details) [Line Items]
Common stock per share (in Dollars per share)			$ 1

Stock Compensation (Details) - Schedule of Stock Option Activity	6 Months Ended
	Jun. 30, 2023 USD ($) $ / shares shares
Schedule of Stock Option Activity [Abstract]
Number of Stock Options, Outstanding at beginning balance \| shares	35,992
Weighted Average Exercise Price Per Share, Outstanding at beginning balance \| $ / shares	$ 39.25
Weighted Average Remaining Contractual Life in Years, Outstanding at beginning balance	6 years 6 months
Aggregate Intrinsic Value, Outstanding at beginning balance \| $	$ 20,578
Number of Stock Options, Outstanding at ending balance \| shares	35,858
Weighted Average Exercise Price Per Share, Outstanding at ending balance \| $ / shares	$ 37.67
Weighted Average Remaining Contractual Life in Years, Outstanding at ending balance	7 years 4 months 24 days
Aggregate Intrinsic Value, Outstanding at ending balance \| $	$ 9,531
Number of Stock Options, Exercisable \| shares	28,222
Weighted Average Exercise Price Per Share, Exercisable \| $ / shares	$ 37.22
Weighted Average Remaining Contractual Life in Years, Exercisable	7 years 1 month 6 days
Aggregate Intrinsic Value,Exercisable \| $	$ 9,531
Number of Stock Options, Granted \| shares	1,000
Weighted Average Exercise Price Per Share, Granted \| $ / shares	$ 10.6
Number of Stock Options, Exercised \| shares
Weighted Average Exercise Price Per Share, Exercised \| $ / shares
Weighted Average Remaining Contractual Life in Years, Exercised
Aggregate Intrinsic Value, Exercised \| $
Number of Stock Options, Cancelled and forfeited \| shares	(1,133)
Weighted Average Exercise Price Per Share, Cancelled and forfeited \| $ / shares	$ 64
Weighted Average Remaining Contractual Life in Years, Cancelled and forfeited
Aggregate Intrinsic Value, Cancelled and forfeited \| $

Condensed Consolidated Balance Sheets (Unaudited) - USD ($)	Jun. 30, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 5,100,407	$ 10,114,990
Prepaid expenses and other current assets	1,481,512	1,673,480
Total current assets	6,581,919	11,788,470
Property and equipment, net	1,464,125	1,232,070
Operating lease right-of-use assets	400,609	465,514
Other non-current assets	31,675	35,211
Total assets	8,478,328	13,521,265
Current liabilities:
Accounts payable	271,488	635,818
Operating lease liability, current	168,713	168,706
Accrued expenses and other current liabilities	1,392,378	835,730
Total current liabilities	1,832,579	1,640,254
Operating lease liability, non-current	255,306	323,915
Other non-current liabilities	14,104	15,823
Total liabilities	2,101,989	1,979,992
Commitments and Contingencies (See Note 13)
Stockholders’ equity:
Common stock, $0.0001 par value; 7,500,000 shares authorized; 1,023,345 and 1,010,764 shares issued and outstanding at June 30, 2023 and December 31, 2022, respectively	102	101
Additional paid-in capital	28,726,487	28,538,274
Accumulated deficit	(22,350,250)	(16,997,102)
Total stockholders’ equity	6,376,339	11,541,273
Total liabilities and stockholders’ equity	$ 8,478,328	$ 13,521,265

Related Party Transactions

6 Months Ended

Jun. 30, 2023

RELATED PARTY TRANSACTIONS

6. RELATED PARTY TRANSACTIONS

NanoHybrids, LLC

In December 2021, the Company entered into an agreement with NanoHybrids, LLC (“NanoHybrids”) to utilize the Company’s research and development staff and laboratory facility when available to perform work for NanoHybrids. Any hours worked by Company employees for NanoHybrids is billed to NanoHybrids at a bill rate of the respective employee’s fully burdened personnel cost plus 10%. Additionally, the Company may purchase certain lab supplies for NanoHybrids and rebill these costs to NanoHybrids. NanoHybrids is wholly owned by the Company’s Chief Technology Officer. The table below summarizes the amounts earned and due from NanoHybrids as of and for the three- and six-month periods’ ended June 30, 2023 and 2022, and balances due as of June 30, 2023 and December 31, 2022:

	Three Months Ended June 30,				Six Months Ended June 30,
	2023		2022		2023		2022
Income from NanoHybrids included in Other Income	$	40,975	$	35,040	$	136,773	$	75,926
Cash receipts from NanoHybrids	$	136,773	$	18,347	$	156,504	$	40,886

	As of
	June 30, 2023		December 31, 2022
Amounts receivable from NanoHybrids included in Prepaids and Other Current Assets	$	-	$	19,731

- Definition

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480990/946-20-50-2

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
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-Name Accounting Standards Codification
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-URI https://asc.fasb.org//1943274/2147480990/946-20-50-5

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
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-Paragraph 6
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-URI https://asc.fasb.org//1943274/2147480990/946-20-50-6

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org//1943274/2147481062/946-235-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
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-Subparagraph (e)
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-URI https://asc.fasb.org//1943274/2147481062/946-235-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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-Paragraph 1
-Subparagraph (SX 210.6-07(2)(g)(3))
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-Subparagraph (SX 210.6-07(2)(c))
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-URI https://asc.fasb.org//1943274/2147483575/946-220-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(2)(e))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483575/946-220-S99-1

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//850/tableOfContent

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483326/850-10-50-6

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
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-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483326/850-10-50-1

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483326/850-10-50-1

+ Details

Significant Accounting Policies (Tables)

6 Months Ended

Jun. 30, 2023

Accounting Policies [Abstract]

Schedule of Diluted Net Loss Per Share

Potentially dilutive securities not included in the calculation of diluted net loss per share, because to do so would be anti-dilutive, are as follows (in common stock equivalent shares):

	June 30,
	2023		2022
Options to purchase common stock		35,858		40,290
Restricted stock units		9,875		-
Warrants for common stock		40,594		40,594
Class A warrants for common stock		124,200		124,200
Class B warrants for common stock		3,770		3,825

Supplemental Balance Sheet Information (Details) - Schedule of Prepaid Expenses and Other Current Assets - USD ($)	Jun. 30, 2023	Dec. 31, 2022
Schedule of Prepaid Expenses and Other Current Assets [Abstract]
Prepaid insurance	$ 352,436	$ 751,979
Vendor prepayments	950,607	681,218
Prepaid other	178,469	240,283
Total prepaid expenses and other current assets	$ 1,481,512	$ 1,673,480

Significant Accounting Policies (Details) - Schedule of Diluted Net Loss Per Share - USD ($)	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Options to purchase common stock	$ 35,858	$ 40,290
Restricted stock units	9,875
Class A warrants for common stock	40,594	40,594
Class A warrants for common stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Class A warrants for common stock	124,200	124,200
Class B warrants for common stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Class A warrants for common stock	$ 3,770	$ 3,825

Leases (Details) - Schedule of Estimated Lease Payments

Jun. 30, 2023

USD ($)

Schedule of estimated lease payments [Abstract]

2023

$ 84,354

^[1]

162,991

100,000

100,000

25,000

Total future lease payments

472,345

Less: Imputed interest

48,326

Present value of lease liability

$ 424,019

[1]	Excludes the six months ended June 30, 2023

Leases

6 Months Ended

Jun. 30, 2023

Leases [Abstract]

LEASES

8. LEASES

The Company primarily enters into lease arrangements for office and laboratory space. A summary of supplemental lease information is as follows:

	Six Months Ended
	June 30, 2023			June 30, 2022
Weighted average remaining lease term – operating leases (in years)		3.3			4.1
Weighted average remaining lease term – finance leases (in years)		4.6			-
Weighted average discount rate		7.0	%		7.0	%
Operating cash flows from operating leases	$	84,352		$	71,421
Operating cash flows from finance leases	$	2,403			-

A summary of the Company’s lease assets and liabilities are as follows:

	June 30, 2023		December 31, 2022
Operating lease right-of-use asset	$	400,609	$	465,514
Finance lease asset – property & equipment, net		21,067		21,067
Total lease assets		421,676		486,581
Current portion of operating lease liability included in accrued expenses		168,713		168,706
Current portion of finance lease liability included in accrued expenses		4,807		4,807
Non-current operating lease liabilities		255,306		323,915
Non-current finance lease liabilities included in other non-current liabilities		14,103		15,823
Total lease liabilities	$	442,928	$	513,251

A summary of the Company’s estimated operating lease payments are as follows:

Year
2023 ⁽¹⁾	$	84,354
2024		162,991
2025		100,000
2026		100,000
2027		25,000
Thereafter		-
Total future lease payments		472,345
Less: Imputed interest		48,326
Present value of lease liability	$	424,019

(1)	Excludes the six months ended June 30, 2023

Commitments and Contingencies (Details)	6 Months Ended
Commitments and Contingencies (Details)	Jun. 30, 2023 USD ($)
Commitments and Contingencies (Details) [Line Items]
Manufacturing expenses	$ 383,000
Research and development expense	$ 416,000
Royalty payments percentage	15.00%
Underlying patent term	5 years
Minimum [Member]
Commitments and Contingencies (Details) [Line Items]
Royalty payments	$ 60,000
Maximum [Member]
Commitments and Contingencies (Details) [Line Items]
Royalty payments	100,000
Contract Manufacturing Organization [Member]
Commitments and Contingencies (Details) [Line Items]
Manufacturing expenses	$ 580,000

Stock Compensation (Details) - Schedule of Stock-Based Compensation Expense - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Stock Compensation (Details) - Schedule of Stock-Based Compensation Expense [Line Items]
Total stock-based compensation	$ 27,703	$ 106,114	$ 247,292	$ 232,200
Research and development [Member]
Stock Compensation (Details) - Schedule of Stock-Based Compensation Expense [Line Items]
Total stock-based compensation	151	16,392	44,996	33,704
General and administrative [Member]
Stock Compensation (Details) - Schedule of Stock-Based Compensation Expense [Line Items]
Total stock-based compensation	28,662	89,562	188,246	197,866
Sales and Marketing [Member]
Stock Compensation (Details) - Schedule of Stock-Based Compensation Expense [Line Items]
Total stock-based compensation	$ (1,110)	$ 160	$ 14,050	$ 630

Significant Accounting Policies

6 Months Ended

Jun. 30, 2023

Accounting Policies [Abstract]

SIGNIFICANT ACCOUNTING POLICIES

2. SIGNIFICANT ACCOUNTING POLICIES

During the six months ended June 30, 2023, there were no changes to the significant accounting policies as described in the 2022 Audited Financial Statements.

Use of estimates

The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts and disclosures reported in these condensed consolidated financial statements and accompanying notes. Actual results could differ materially from those estimates. The Company believes judgment is involved in accounting for the fair value-based measurement of stock-based compensation, accruals, and warrants. The Company evaluates its estimates and assumptions as facts and circumstances dictate. As future events and their effects cannot be determined with precision, actual results could differ from these estimates and assumptions, and those differences could be material to the condensed consolidated financial statements.

Stock-based compensation

Share-based compensation expense for all share-based payment awards made to employees, directors and non-employees is measured based on the grant-date fair value of the award. Share-based compensation expense for awards granted to non-employees is determined using the fair value of the consideration received or the fair value of the equity instruments issued, whichever is more reliably measured.

The Company uses the Black-Scholes option pricing model to determine the fair value of options granted. The Company recognizes the compensation cost of share-based awards on a straight-line basis over the requisite service period. For stock awards for which vesting is subject to performance-based milestones, the expense is recorded over the implied service period after the point when the achievement of the milestone is probable, or the performance condition has been achieved.

The Company recognizes forfeitures related to employee share-based payments when they occur. Forfeited options are recorded as a reduction to stock compensation expense.

Research and development expenses

Costs incurred in the research and development of new products are expensed as incurred. Research and development costs include, but are not limited to, salaries, benefits, stock-based compensation, laboratory supplies, fees for professional service providers and costs associated with product development efforts, including preclinical studies and clinical trials.

The Company estimates preclinical study and clinical trial expenses based on the services performed, pursuant to contracts with research institutions and clinical research organizations that conduct and manage preclinical studies and clinical trials on its behalf.

Segment Reporting

Management has determined that the Company has one operating segment, which is consistent with the Company structure and how it manages the business.

Net Loss per Share

Basic net loss per share is computed by dividing the net loss by the weighted-average number of shares of common stock outstanding for the period, without consideration for potentially dilutive securities. Diluted net loss per share is computed by dividing the net loss by the weighted average number of shares of common stock and dilutive common stock equivalents outstanding for the period determined using the treasury stock and if-converted methods. Dilutive common stock equivalents are comprised of convertible preferred stock, convertible notes, options outstanding under the Company’s stock option plan and warrants. For all periods presented, there is no difference in the number of shares used to calculate basic and diluted shares outstanding as inclusion of the potentially dilutive securities would be antidilutive.

Potentially dilutive securities not included in the calculation of diluted net loss per share, because to do so would be anti-dilutive, are as follows (in common stock equivalent shares):

	June 30,
	2023		2022
Options to purchase common stock		35,858		40,290
Restricted stock units		9,875		-
Warrants for common stock		40,594		40,594
Class A warrants for common stock		124,200		124,200
Class B warrants for common stock		3,770		3,825

Recently Adopted Accounting Standards

In October 2021, the FASB issued ASU No. 2021-08, Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers (“ASU 805”), an amendment of the ASC. The amendments to ASU 805 address diversity and inconsistency related to the recognition and measurement of contract assets and contract liabilities acquired in a business combination and require that an acquirer recognize and measure contract assets and contract liabilities acquired in accordance with ASC 2014-09, Revenue from Contracts with Customers (Topic 606) (“ASC 606”). Under GAAP, an acquirer generally recognizes assets and liabilities assumed in a business combination, including contract assets and liabilities arising from revenue contracts with customers, at fair value on the acquisition date. ASU No. 2021-08 will result in the acquirer recording acquired contract assets and liabilities on the same basis that would have been recorded by the acquiree before the acquisition under ASC 606. The Company adopted this new standard on January 1, 2023. The new standard had no impact on the Company’s consolidated statements of operations or cash flows.

Warrants (Tables)

6 Months Ended

Jun. 30, 2023

Warrants [Abstract]

Schedule of Information With Regard To Warrants Outstanding

The following table summarizes information with regard to warrants outstanding as of June 30, 2023:

	Shares		Exercisable for	Weighted Average Exercise Price			Weighted Average Remaining Life (in Years)
Common Stock Warrants		40,594	Common Stock	$	64.80			2.6
Class A Warrants		124,200	Common Stock	$	140.00			3.3
Class B Warrants		3,770	Common Stock	$	200.00	¹		3.3

¹	Class B Warrants may also exercise such warrants on a “cashless” basis. See Class A Warrants and Class B Warrants subsection below.

Stock Compensation (Details) - Schedule of Grant-Date Fair Value of Share-Based Awards Granted	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Stock Compensation (Details) - Schedule of Grant-Date Fair Value of Share-Based Awards Granted [Line Items]
Risk-free interest rate	3.63%
Expected dividend yield	0.00%	0.00%
Volatility factor	108.78%
Expected life of option (in years)	6 years
Minimum [Member]
Stock Compensation (Details) - Schedule of Grant-Date Fair Value of Share-Based Awards Granted [Line Items]
Risk-free interest rate		1.58%
Volatility factor		102.03%
Expected life of option (in years)		5 years 4 months 13 days
Maximum [Member]
Stock Compensation (Details) - Schedule of Grant-Date Fair Value of Share-Based Awards Granted [Line Items]
Risk-free interest rate		3.06%
Volatility factor		104.40%
Expected life of option (in years)		6 years

Accounting Policies, by Policy (Policies)

6 Months Ended

Jun. 30, 2023

Accounting Policies [Abstract]

Use of estimates

Use of estimates

Stock-based compensation

Stock-based compensation

The Company recognizes forfeitures related to employee share-based payments when they occur. Forfeited options are recorded as a reduction to stock compensation expense.

Research and development expenses

Research and development expenses

Segment Reporting

Segment Reporting

Management has determined that the Company has one operating segment, which is consistent with the Company structure and how it manages the business.

Net Loss per Share

Net Loss per Share

Potentially dilutive securities not included in the calculation of diluted net loss per share, because to do so would be anti-dilutive, are as follows (in common stock equivalent shares):

	June 30,
	2023		2022
Options to purchase common stock		35,858		40,290
Restricted stock units		9,875		-
Warrants for common stock		40,594		40,594
Class A warrants for common stock		124,200		124,200
Class B warrants for common stock		3,770		3,825

Recently Adopted Accounting Standards

Recently Adopted Accounting Standards

- Definition

Disclosure of accounting policy for segment reporting.

+ References + Details

- Definition

Disclosure of accounting policy for award under share-based payment arrangement. Includes, but is not limited to, methodology and assumption used in measuring cost.

+ References

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+ Details

Supplemental Balance Sheet Information (Tables)

6 Months Ended

Jun. 30, 2023

Supplemental Balance Sheet Information [Abstract]

Schedule of Prepaid Expenses and Other Current Assets

Prepaid expenses and other current assets consist of the following:

	June 30, 2023		December 31, 2022
Prepaid insurance	$	352,436	$	751,979
Vendor prepayments		950,607		681,218
Prepaid other		178,469		240,283
Total prepaid expenses and other current assets	$	1,481,512	$	1,673,480

Schedule of Accrued Expenses and Other Current Liabilities

Accrued expenses and other current liabilities consist of the following:

	June 30, 2023		December 31, 2022
Accrued personnel costs	$	568,350	$	533,577
Accrued good receipts		100,249		10,077
Accrued other		723,779		292,076
Total accrued expenses and other current liabilities	$	1,392,378	$	835,730

Condensed Consolidated Statements of Operations (Unaudited) (Parentheticals) - $ / shares	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Income Statement [Abstract]
Net loss per share - Diluted	$ (2.75)	$ (2.00)	$ (5.24)	$ (2.00)
Diluted	1,023,052	1,007,115	1,020,865	1,007,115

- Definition

The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

+ References

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+ Details

Leases (Tables)

6 Months Ended

Jun. 30, 2023

Leases [Abstract]

Schedule of Lease Arrangements for Office and Laboratory Space

The Company primarily enters into lease arrangements for office and laboratory space. A summary of supplemental lease information is as follows:

	Six Months Ended
	June 30, 2023			June 30, 2022
Weighted average remaining lease term – operating leases (in years)		3.3			4.1
Weighted average remaining lease term – finance leases (in years)		4.6			-
Weighted average discount rate		7.0	%		7.0	%
Operating cash flows from operating leases	$	84,352		$	71,421
Operating cash flows from finance leases	$	2,403			-

Schedule of Lease Assets and Liabilities

A summary of the Company’s lease assets and liabilities are as follows:

	June 30, 2023		December 31, 2022
Operating lease right-of-use asset	$	400,609	$	465,514
Finance lease asset – property & equipment, net		21,067		21,067
Total lease assets		421,676		486,581
Current portion of operating lease liability included in accrued expenses		168,713		168,706
Current portion of finance lease liability included in accrued expenses		4,807		4,807
Non-current operating lease liabilities		255,306		323,915
Non-current finance lease liabilities included in other non-current liabilities		14,103		15,823
Total lease liabilities	$	442,928	$	513,251

Schedule of Estimated Lease Payments

A summary of the Company’s estimated operating lease payments are as follows:

Year
2023 ⁽¹⁾	$	84,354
2024		162,991
2025		100,000
2026		100,000
2027		25,000
Thereafter		-
Total future lease payments		472,345
Less: Imputed interest		48,326
Present value of lease liability	$	424,019

(1)	Excludes the six months ended June 30, 2023

Document And Entity Information - shares	6 Months Ended
Document And Entity Information - shares	Jun. 30, 2023	Aug. 04, 2023
Document Information Line Items
Entity Registrant Name	Bluejay Diagnostics, Inc.
Trading Symbol	BJDX
Document Type	10-Q
Current Fiscal Year End Date	--12-31
Entity Common Stock, Shares Outstanding		1,023,345
Amendment Flag	false
Entity Central Index Key	0001704287
Entity Current Reporting Status	Yes
Entity Filer Category	Non-accelerated Filer
Document Period End Date	Jun. 30, 2023
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q2
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Shell Company	false
Entity Ex Transition Period	false
Document Quarterly Report	true
Document Transition Report	false
Entity File Number	001-41031
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	47-3552922
Entity Address, Address Line One	360 Massachusetts Avenue
Entity Address, Address Line Two	Suite 203
Entity Address, City or Town	Acton
Entity Address, State or Province	MA
Entity Address, Postal Zip Code	01720
City Area Code	(844)
Local Phone Number	327-7078
Entity Interactive Data Current	Yes
Title of 12(b) Security	Common Stock
Security Exchange Name	NASDAQ

Condensed Consolidated Balance Sheets (Unaudited) (Parentheticals) - $ / shares	Jun. 30, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Common stock, par value (in Dollars per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized	7,500,000	7,500,000
Common stock, shares issued	1,023,345	1,010,764
Common stock, shares outstanding	1,023,345	1,010,764

Stock Compensation (Details) - Schedule of Non-vested Restricted Stock Awards	6 Months Ended
	Jun. 30, 2023 $ / shares shares
Schedule of Non Vested Restricted Stock Awards [Abstract]
Number of Shares, Outstanding at beginning balance \| shares	3,000
Weighted Average Grant Date Fair Value, Outstanding at beginning balance \| $ / shares	$ 25.8
Number of Shares, Granted \| shares	25,609
Weighted Average Grant Date Fair Value, Granted \| $ / shares	$ 8.8
Number of Shares, Vested \| shares	(19,484)
Weighted Average Grant Date Fair Value, Vested \| $ / shares	$ 9.45
Number of Shares, Forfeited \| shares	(750)
Weighted Average Grant Date Fair Value, Forfeited \| $ / shares	$ 25.8
Number of Shares, Outstanding at ending balance \| shares	8,375
Weighted Average Grant Date Fair Value, Outstanding at ending balance \| $ / shares	$ 11.84

Supplemental Balance Sheet Information

6 Months Ended

Jun. 30, 2023

Supplemental Balance Sheet Information [Abstract]

SUPPLEMENTAL BALANCE SHEET INFORMATION

10. SUPPLEMENTAL BALANCE SHEET INFORMATION

Prepaid expenses and other current assets consist of the following:

	June 30, 2023		December 31, 2022
Prepaid insurance	$	352,436	$	751,979
Vendor prepayments		950,607		681,218
Prepaid other		178,469		240,283
Total prepaid expenses and other current assets	$	1,481,512	$	1,673,480

Accrued expenses and other current liabilities consist of the following:

	June 30, 2023		December 31, 2022
Accrued personnel costs	$	568,350	$	533,577
Accrued good receipts		100,249		10,077
Accrued other		723,779		292,076
Total accrued expenses and other current liabilities	$	1,392,378	$	835,730