BioNexus Gene Lab Corp. (BGLC) has filed its Annual Report on Form 10-K for the fiscal year ended December 31, 2024, with the U.S. Securities and Exchange Commission. The report highlights a year of strategic realignment, technological advancement, and enhanced corporate governance. BGLC ended 2024 with a cash position of over $4 million and total liquidity exceeding $6 million.
The company reported a reduction in its year-over-year net loss by over 39%, reflecting improved operational efficiency and cost discipline across its healthcare diagnostics and specialty chemicals divisions. A significant milestone in 2024 was the approval of a blockchain-native treasury strategy, prioritizing Ethereum as a core strategic reserve asset. This initiative aims to enhance capital efficiency and align with emerging digital infrastructure standards.
To maintain its Nasdaq listing, BGLC effected a 1-for-10 reverse stock split on April 7, 2025. The company expects to regain full compliance with the Nasdaq minimum bid price rule by or before the May 1, 2025 deadline. BGLC also continued to expand its genomic diagnostics offerings under its MRNA Scientific division and entered into strategic partnerships for its molecular screening platform and AI-based health diagnostics initiatives.
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