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bioAffinity Technologies, Inc. - $BIAFW STOCK NEWS

Welcome to our dedicated page for bioAffinity Technologies news (Ticker: $BIAFW), a resource for investors and traders seeking the latest updates and insights on bioAffinity Technologies stock.

Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect bioAffinity Technologies's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.

Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of bioAffinity Technologies's position in the market.

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BioAffinity Technologies (Nasdaq: BIAF; BIAFW) has reported a significant 139% growth in the number of pulmonology practices offering its noninvasive CyPath® Lung test for early-stage lung cancer detection since January 1, 2024. Sales outpaced Q1 2024 targets, leading to expansion beyond Texas to eight additional states. The company increased its 2023 sales forecast by 35% in May. This growth is attributed to positive physician-to-physician word of mouth and effective marketing strategies. CyPath® Lung's high sensitivity, specificity, and accuracy have been well-received by the medical community. The lung cancer diagnostics market is projected to reach $4.7 billion by 2030.

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Rhea-AI Summary

BioAffinity Technologies (Nasdaq: BIAF; BIAFW) reports record Q1 2024 revenue of $2.4 million, driven by CyPath® Lung sales and increased lab volumes. CyPath® Lung orders surged by 547% annualized in the first four months of 2024 over 2023, leading to a 35% increase in the 2024 sales forecast. The number of physician offices ordering the test doubled since January 2024, expanding beyond Texas to states like Pennsylvania and New Jersey. Medicare reimbursement for CyPath® Lung began on January 1, 2024. Precision Pathology Laboratory Services forecasts $9.2-$9.6 million in 2024 revenues, up 23% from 2023. The company reported an increase in R&D and SG&A expenses, resulting in a net loss of $2.1 million for Q1 2024, compared to a net loss of $1.5 million in Q1 2023. BioAffinity closed a $2.5 million funding round to support growth and continued product development in collaboration with the DoD.

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Rhea-AI Summary

bioAffinity Technologies, Inc. (Nasdaq: BIAF) reports an increase in sales of CyPath® Lung, their noninvasive diagnostic test for lung cancer detection. April sales were up 21% from March, with new orders from physicians in various states. The company also welcomed new team members to support the CyPath® Lung product launch. Additionally, bioAffinity will present research at the American Thoracic Society's Annual Conference.

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bioAffinity Technologies appoints Dr. David Elzi as VP of Product Development to drive new diagnostic tests for early-stage lung cancer and COPD. The company collaborates with the US Department of Defense to conduct research on lung health issues. The development of two new tests using flow cytometry and AI technology aims to improve patient outcomes and expand the company's product portfolio.
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bioAffinity Technologies, Inc. expands partnership with the American Cancer Society to raise funds for lung cancer screening. The joint initiative aims to increase early-stage cancer and lung disease detection through noninvasive tests.
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bioAffinity Technologies, Inc. (BIAF) reports significant revenue growth in fiscal year 2023, reaching $2.5 million from $5,000 in 2022. The company's success is attributed to the acquisition of Precision Pathology Laboratory Services and increasing sales of CyPath® Lung. They achieved a 350% growth in CyPath® Lung tests ordered in Q1 2024, exceeded sales forecasts, and obtained CMS payment approval for 2024. The company expanded its market reach, initiated sales to the Department of Defense, and strengthened its team with key appointments. Despite revenue growth, the company reported a net loss of $7.9 million for 2023.
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WallachBeth Capital LLC facilitated bioAffinity Technologies, Inc.'s (BIAF) sale of 1,600,000 shares of common stock and common warrants in a registered direct offering and private placement. The combined purchase price was $1.5625 per share, with warrants exercisable at $1.64 per share. WallachBeth Capital acted as the sole placement agent for the offering.
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bioAffinity Technologies, Inc. (Nasdaq: BIAF) closes securities purchase agreement with institutional investors, offering 1,600,000 shares of common stock and warrants at $1.5625 per share, expecting $2.5 million in gross proceeds. The company plans to utilize the funds for working capital and general corporate purposes.
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BioAffinity Technologies (BIAF) announces a securities purchase agreement with institutional investors for the sale of 1,600,000 shares of common stock and common warrants. The Offering includes a registered direct offering and a concurrent private placement at a combined purchase price of $1.5625 per common share. The common warrants have an exercise price of $1.64 per share and will expire five years from the date of shareholder approval.
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Rhea-AI Summary
bioAffinity Technologies, Inc. (Nasdaq: BIAF and BIAFW) has announced a securities purchase agreement with institutional investors for the sale of 1,600,000 shares of common stock and common warrants. The purchase price is $1.5625 per share, with warrants exercisable at $1.64 per share. The offering includes a registered direct offering and a concurrent private placement.
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bioAffinity Technologies, Inc.

Nasdaq:BIAFW

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7.77M
Research and Development in Biotechnology
Professional, Scientific, and Technical Services
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United States of America
SAN ANTONIO