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bioAffinity Technologies, Inc. develops and commercializes noninvasive diagnostics for lung cancer and other lung diseases. The company’s first product, CyPath® Lung, is a sputum-based Laboratory Developed Test marketed by Precision Pathology Laboratory Services, a bioAffinity subsidiary, and uses flow cytometry with automated AI-informed analysis to identify cell populations associated with lung malignancy.
Recurring company news centers on CyPath® Lung commercialization, physician adoption, clinical case studies, pulmonary nodule management, lung cancer risk assessment, and post-treatment surveillance. Updates also cover financial results, laboratory-services focus, medical conference and physician-education activity, and research extending the company’s flow cytometry+AI platform toward asthma and COPD diagnostics.
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bioAffinity Technologies (Nasdaq: BIAF; BIAFW) will present at the Cleveland Clinic’s Advances in Early Lung Cancer Detection symposium on April 27, 2023. Dr. Vivienne I. Rebel will discuss advancements in the company’s product, CyPath® Lung, a noninvasive test for early-stage lung cancer detection utilizing flow cytometry and artificial intelligence. The symposium aims to improve lung cancer diagnosis, particularly during its most treatable early stages. This marks bioAffinity's fourth invitation to present, underscoring its ongoing engagement in pioneering cancer detection technologies. CyPath® Lung demonstrates high sensitivity and specificity and is marketed through Precision Pathology Services. The company’s subsidiary, OncoSelect® Therapeutics, is also developing targeted cancer treatments.
bioAffinity Technologies, Inc. (Nasdaq: BIAF; BIAFW) will ring the Nasdaq closing bell to celebrate its 2022 IPO. President and CEO Maria Zannes expressed gratitude for the opportunity, highlighting milestones leading to the launch of its noninvasive cancer detection product, CyPath® Lung. This test is aimed at early-stage lung cancer detection, enhancing treatment effectiveness and patient outcomes. The closing bell ceremony will be streamed live on various platforms, showcasing bioAffinity's commitment to innovation in early cancer diagnostics.
bioAffinity Technologies (Nasdaq: BIAF; BIAFW) reported its financial results for 2022, marking a significant year after raising approximately $6 million from its IPO and converting nearly $16 million in debt to equity. The company generated $5,000 in revenue in 2022, up from zero in 2021, driven by its CyPath® Lung test. Key operational highlights include achieving 92% sensitivity and 87% specificity in detecting early lung cancer. Despite a net loss of $8.2 million in 2022, the company has raised additional funds through warrants. Management is optimistic about expanding the market for CyPath® Lung and plans a conference call on April 3, 2023, to discuss its results.