bioAffinity Tech Stock Price, News & Analysis

bioAffinity Technologies, Inc. (NASDAQ: BIAF; BIAFW) reports advancements in cancer treatment research. At the Cell Bio conference in Washington, D.C. from December 3-7, 2022, Dr. David Elzi will present his findings on silencing two genes, CD320 and LRP2, to target cancer cells while sparing normal cells. This research supports the development of their therapeutic platforms and aims to enhance understanding of gene silencing in cancer treatment. The company continues to advance its CyPath® Lung test for early-stage lung cancer diagnosis.

bioAffinity Technologies (NASDAQ: BIAF; BIAFW) successfully completed a $15.6 million IPO, enhancing its funding for noninvasive cancer diagnostics and therapeutics. The company achieved patent awards in China, Mexico, and Australia for novel cancer treatment compounds, and commenced a limited launch of its CyPath® Lung product in San Antonio. Financially, bioAffinity reported $1,150 in revenue for Q3 2022, with a net loss of $4.6 million. Despite a revenue increase from the previous year, the company’s administrative expenses rose significantly, indicating challenges in managing costs post-IPO.

bioAffinity Technologies (NASDAQ: BIAF, BIAFW) has expanded its Scientific and Medical Advisory Board with the addition of Dr. Sheila Habib and Dr. David Hill. Their expertise in lung cancer diagnostics will enhance ongoing research and development efforts, particularly with the CyPath® Lung test, which boasts a sensitivity of 92% and specificity of 87% for early-stage lung cancer detection. This strategic move aims to leverage their groundbreaking work in enhancing early diagnosis, crucial for improving treatment outcomes.

bioAffinity Technologies, Inc. (NASDAQ: BIAF; BIAFW) announced a conference call and audio webcast on November 14, 2022, at 8 a.m. ET to discuss its third-quarter 2022 financial and corporate results. The call is accessible via the company's Investor Relations website. bioAffinity is focused on noninvasive early-stage cancer diagnosis and targeted treatment, with its primary product, CyPath® Lung, demonstrating high sensitivity for early lung cancer detection. The company is involved in ongoing research at The University of Texas at San Antonio.

bioAffinity Technologies (NASDAQ: BIAF; BIAFW) recently announced the award of multiple patents in China, Mexico, and Australia for novel porphyrin conjugated compounds aimed at selective cancer treatment. These patents, valid until 2037, underscore the company's commitment to innovative cancer therapies, particularly as cancer rates rise in these regions. The company’s flagship product, CyPath® Lung, shows high sensitivity and specificity in early lung cancer detection, indicating strong potential for both diagnostic and therapeutic advancements in oncology.

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.