BJDX: SYMON Says: Start the Trial!

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By John Vandermosten, CFA

NASDAQ:BJDX

Bluejay Diagnostics, Inc. (NASDAQ:BJDX) issued a press release on December 27th, 2023 informing stakeholders that the clinical study evaluating the Symphony diagnostic in sepsis patients has started. The trial has been designated SYMON: Multicenter Symphony IL-6 Monitoring Sepsis ICU Study. The study has been listed on the clinicaltrials.gov website under the designator NCT06181604. The first subject is expected to be enrolled early in the new year and an interim readout could come as early as March.

As we discussed in our initiation, Bluejay initially launched a trial that sought to effectively triage COVID patients using IL-6 as a marker and determine their need for mechanical assisted ventilation. However, due to the dramatic decline in severe COVID patients in 2022, the trial design needed to be changed. The primary endpoint is now 28-day mortality and risk stratification of hospitalized sepsis patients. Cutoff values that will be used for the study are now being determined. The first subject is expected to be enrolled in January with an interim readout in March consisting of 100 patients. Our estimates call for the trial to be completed in 2024, followed shortly after by a regulatory submission using the 510(k) pathway. We further anticipate that a grant of marketing authorization will emerge in 2025, followed by commercialization. Bluejay has identified its market and plans to engage a small team of sales and marketing personnel in combination with partners and distributors to sell the devices and cartridges.

The inclusion criteria for the new trial requires that enrollees have a diagnosis of sepsis or septic shock as determined by a physician. Subjects must also be adults admitted or intended to be admitted to the ICU and provide a plasma sample within 12 hours of the earliest diagnosis of sepsis or septic shock. The plasma sample will be evaluated by the Symphony diagnostic.

Six centers are expected to be activated to enroll 140 subjects with the first, Beth Israel Deaconess Medical Center in Boston now cleared to start. There are several clinical trial agreements outstanding that should be signed shortly, which will provide additional sites. Beth Israel was the site where Thermo Fisher’s device ran its procalcitonin trial in 2014. The approved device serves as Symphony’s predicate device. The institutional knowledge at the site is expected to provide an edge for the development and approval of the anticipated 510(k) submission.

Sepsis is a leading cause of death in hospitals and physicians require accurate data on patient status before treatment. Existing testing approaches frequently require several time-consuming steps before a diagnostic can be run, consuming valuable time. Transportation, preparing the sample and waiting in queue for sufficient volume to justify a test requires a 24 – 48 hour wait to produce a result. However, physicians need answers immediately for critical care decisions. Due to the lack of rapid testing alternatives, we think Symphony could catalyze a substantial increase in IL-6 test volume, especially at the price point anticipated, to help guide physician decision-making in the emergent care setting.