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bioAffinity Technologies, Inc. develops noninvasive diagnostic tests for lung cancer and other lung diseases, with recurring news centered on its CyPath® Lung sputum-based diagnostic. Company updates describe clinical case studies, physician education, pulmonary nodule management, commercialization of the test, and laboratory services provided through Precision Pathology Laboratory Services.
News also covers bioAffinity’s flow cytometry and automated analysis platform, including research directed at asthma and chronic obstructive pulmonary disease diagnostics. The company reports developments involving clinical studies, scientific presentations, test adoption, revenue trends, equity financings, and the use of CyPath® Lung as a Laboratory Developed Test under CLIA oversight.
bioAffinity Technologies (NASDAQ: BIAF; BIAFW) is set to present its research on using flow cytometry for diagnosing lung diseases at the CHEST 2022 conference from Oct. 16-19, 2022. The presentation, led by PhD Lydia Bederka, will focus on Sputum Analysis By Flow Cytometry To Assess Lung Health on Oct. 19, highlighting the development of its product, CyPath® Lung, which detects early-stage lung cancer with 92% sensitivity and 87% specificity.
bioAffinity Technologies, Inc. (NASDAQ: BIAF, BIAFW) has secured approximately $7.7 million from the recent exercise of warrants related to its September 6, 2022 public offering. This was achieved through 725,576 tradeable warrants at $7.35 per share and 310,910 non-tradable warrants at $7.656 per share. Overall, the company has gathered about $15.6 million in gross proceeds. The funds will support the commercialization of CyPath® Lung and other developmental projects.
bioAffinity Technologies (NASDAQ: BIAF, BIAFW) announced a publication in PLOS ONE regarding their flow cytometry research on sputum analysis for lung health diagnostics. The study introduces an innovative method for detecting lung cancer and potentially other diseases like COPD and asthma. President and CEO Maria Zannes emphasized the significance of this noninvasive diagnostic approach, stating it may enhance overall diagnostic accuracy, reduce unnecessary procedures, and lower medical costs. bioAffinity's CyPath® Lung test, known for its high sensitivity and specificity, supports early lung cancer detection.
bioAffinity Technologies, Inc. (NASDAQ: BIAF, BIAFW) announced the successful completion of its IPO, raising approximately $7.8 million by offering 1,282,600 units that include common stock and warrants. The IPO allows for a 45-day option for underwriters to purchase additional shares. The funds will be used to expand operations, pursue regulatory approvals, and continue research on early-stage cancer diagnostics and therapeutics like CyPath® Lung. This test enables non-invasive early detection of lung cancer, enhancing survival rates.