bioAffinity Technologies, Inc. - BIAF STOCK NEWS

bioAffinity Technologies (BIAF) reports strong growth and expansion plans for 2025, driven by its CyPath® Lung cancer detection test. The company's subsidiary, Precision Pathology Laboratory Services, expects $9.4 million in 2024 revenues, representing over 20% growth compared to 2023 after its acquisition in September 2023.

CyPath® Lung sales showed a remarkable 1,750% increase through November 30 compared to the previous year. Key achievements in 2024 include securing reimbursement, expanding the sales team, gaining access to federal healthcare systems, and operational streamlining. The company anticipates continued growth in 2025 through expanded national market presence and inclusion in the U.S. Federal Supply Schedule, serving the Veterans Health Administration and Military Health System.

bioAffinity Technologies (Nasdaq: BIAF; BIAFW) announced the addition of their noninvasive cancer detection test, CyPath® Lung, to the Federal Supply Schedule (FSS) for the Veterans Health Administration (VHA). This inclusion allows CyPath® Lung to be accessible to the VA's 1,380 healthcare facilities, including over 170 medical centers and 1,000 outpatient sites. The VHA, serving 9.1 million veterans annually, is the largest integrated healthcare system in the U.S. The announcement was made during a joint presentation with FSS officials at the National Association of Veterans’ Research and Education Foundations (NAVREF) meeting. This collaboration aims to improve lung cancer detection and care for veterans, who are at higher risk due to factors like older age, smoking, and environmental exposure. CyPath® Lung aids in bridging the gap between initial screening results and invasive procedures, offering a significant opportunity for bioAffinity Technologies.

bioAffinity Technologies (BIAF) reported Q3 2024 revenue of $2.4 million, with CyPath® Lung test orders showing over 1,300% growth in the first nine months of 2024 compared to full-year 2023. The company expanded its physician network by 75% compared to Q2 2024, now receiving orders from 11 states. CyPath® Lung was added to the U.S. Federal Supply Schedule, providing access to 1,380 government healthcare facilities. The company reported a net loss of $2.0 million ($0.16 per share), an improvement from the $2.3 million loss in Q3 2023. Cash position stood at $0.8 million, with an additional $2.7 million raised through an offering in October 2024.

bioAffinity Technologies (Nasdaq: BIAF) has appointed Dr. William Bauta as Chief Science Officer, succeeding Dr. Vivienne Rebel who retired on Oct. 31, 2024. Dr. Bauta, previously Senior VP of Research and Development since 2016, brings experience from Genzyme and Ilex Products. He has contributed to multiple company inventions and patents, particularly in optimizing CyPath® Lung, their noninvasive early-stage lung cancer detection test. His work has improved test performance, reduced costs, and expanded the company's patent portfolio. Dr. Bauta earned his Ph.D. from the University of Chicago and completed post-doctoral studies at the University of Texas at Austin.

bioAffinity Technologies (Nasdaq: BIAF) has been granted a patent in Japan for its CyPath® Lung diagnostic test method, which predicts lung cancer likelihood. This marks the first patent specifically for CyPath® Lung as a standalone flow cytometry test for lung cancer detection. The patent, titled 'System and Method for Determining the State of Health of the Lungs,' adds to the company's portfolio of 17 awarded patents and 30 pending applications across various regions. The company focuses on developing noninvasive tests for early-stage lung cancer and other lung diseases detection.

WallachBeth Capital announced the closing of bioAffinity Technologies' (Nasdaq: BIAF) $2.6 million registered direct offering and concurrent private placement. The offering included 2,048,294 shares of common stock at $1.30 per share and warrants to purchase up to 2,662,782 shares at $1.50 per share. The warrants will be exercisable upon stockholder approval and expire five years from that date. bioAffinity Technologies plans to use the net proceeds for general corporate purposes and working capital. WallachBeth Capital acted as the sole placement agent for the offering, which was conducted under an effective shelf registration statement. The private placement of warrants was made under exemptions from registration requirements.

bioAffinity Technologies, Inc. (Nasdaq: BIAF; BIAFW) has closed a $2.6 million registered direct offering and concurrent private placement. The company sold 2,048,294 shares of common stock at $1.30 per share and issued warrants to purchase up to 2,662,782 shares at an exercise price of $1.50 per share. The warrants will be exercisable upon stockholder approval and expire five years from that date. WallachBeth Capital acted as the sole placement agent. The company plans to use the net proceeds for general corporate purposes and working capital. The offering was made pursuant to an effective shelf registration statement, with a prospectus supplement to be filed with the SEC.

WallachBeth Capital announced that bioAffinity Technologies (Nasdaq: BIAF) has entered into a securities purchase agreement for a $2.66 million registered direct offering and concurrent private placement. The offering includes:

1. 2,048,294 shares of common stock at $1.30 per share in a registered direct offering
2. Common warrants to purchase up to 2,662,782 shares at $1.50 per share in a private placement

The warrants will be exercisable upon stockholder approval and expire five years from approval date. The offering is expected to close around Oct. 21, 2024. WallachBeth Capital is acting as the sole placement agent. The common stock will be issued under an effective shelf registration statement, while the warrants will be issued under a Section 4(a)(2) exemption.

bioAffinity Technologies, Inc. (Nasdaq: BIAF; BIAFW) has announced a $2.66 million registered direct offering and concurrent private placement. The company will sell 2,048,294 shares of common stock at $1.30 per share in a registered direct offering. Additionally, in a private placement, it will issue common warrants to purchase up to 2,662,782 shares at an exercise price of $1.50 per share. The warrants will be exercisable upon shareholder approval and expire five years from that date. The offering is expected to close around October 21, 2024, subject to conditions. WallachBeth Capital is acting as the sole placement agent. The common stock will be issued under an effective shelf registration statement, while the warrants will be issued under a Section 4(a)(2) exemption.