Bionexus Gene Lab (BGLC) Newsfilter·2025-04-15 15:00Core Insights - BioNexus Gene Lab Corp. filed its Annual Report on Form 10-K for the fiscal year ended December 31, 2024, with the U.S. Securities and Exchange Commission [1] Financial Performance - The company ended 2024 with a strong cash position of over 6 million, demonstrating prudent capital management [3] - BioNexus reduced its year-over-year net loss by over 39%, indicating improved operational efficiency and cost discipline across its healthcare diagnostics and specialty chemicals divisions [3] Strategic Initiatives - The company approved a blockchain-native treasury strategy, becoming the first Nasdaq-listed issuer to prioritize Ethereum (ETH) as a core strategic reserve asset, aimed at enhancing capital efficiency [4] - BioNexus expanded its genomic diagnostics offerings under its MRNA Scientific division and entered into strategic partnerships to scale its molecular screening platform and AI-based health diagnostics initiatives [5] Compliance and Governance - To maintain its Nasdaq listing, the company executed a 1-for-10 reverse stock split on April 7, 2025, and expects to regain full compliance with the Nasdaq minimum bid price rule by or before May 1, 2025 [6] Leadership Perspective - The CEO highlighted 2024 as a foundational year for BioNexus, emphasizing the company's renewed strategic focus and commitment to leading in healthcare technology and decentralized finance [7]