STOCK TITAN

bioAffinity Technologies CFO to Depart for New Opportunity; J. Michael Edwards to Return as Interim CFO

Rhea-AI Impact
(Neutral)
Rhea-AI Sentiment
(Positive)
Tags

bioAffinity Technologies (Nasdaq: BIAF; BIAFW) announced that CFO Michael Dougherty is resigning to accept a position in the Pacific Northwest energy industry. J. Michael Edwards, who served as bioAffinity's consulting CFO from 2014 to 2023 and oversaw the company's IPO in 2022, will return as interim CFO until a permanent replacement is found.

Dougherty will continue in his role until September 15, 2024, assisting with the transition. The company expects a smooth handover due to the strong team and financial processes Dougherty established. Edwards, with over 25 years of experience in corporate finance and accounting, will ensure continuity in the Finance Department.

bioAffinity Technologies, focused on developing noninvasive tests for early-stage cancer detection, will immediately begin searching for a permanent CFO.

bioAffinity Technologies (Nasdaq: BIAF; BIAFW) ha annunciato che il CFO Michael Dougherty si dimetterà per accettare un incarico nell'industria energetica del Pacific Northwest. J. Michael Edwards, che ha lavorato come CFO consulente di bioAffinity dal 2014 al 2023 e ha supervisionato l'IPO dell'azienda nel 2022, tornerà come CFO ad interim fino a quando non sarà trovato un sostituto permanente.

Dougherty continuerà nel suo ruolo fino al 15 settembre 2024, assistendo nella transizione. L'azienda si aspetta un passaggio fluido grazie al forte team e ai processi finanziari che Dougherty ha stabilito. Edwards, con oltre 25 anni di esperienza in finanza aziendale e contabilità, garantirà continuità nel Dipartimento Finanziario.

bioAffinity Technologies, focalizzata sullo sviluppo di test non invasivi per la rilevazione precoce del cancro, inizierà immediatamente a cercare un CFO permanente.

bioAffinity Technologies (Nasdaq: BIAF; BIAFW) anunció que el CFO Michael Dougherty renunciará para aceptar un puesto en la industria energética del Pacífico Noroeste. J. Michael Edwards, quien sirvió como CFO consultor de bioAffinity desde 2014 hasta 2023 y supervisó la OPI de la compañía en 2022, regresará como CFO interino hasta que se encuentre un reemplazo permanente.

Dougherty continuará en su puesto hasta el 15 de septiembre de 2024, ayudando con la transición. La empresa espera una entrega suave gracias al sólido equipo y los procesos financieros que Dougherty estableció. Edwards, con más de 25 años de experiencia en finanzas corporativas y contabilidad, asegurará la continuidad en el Departamento de Finanzas.

bioAffinity Technologies, enfocada en el desarrollo de pruebas no invasivas para la detección temprana de cáncer, comenzará de inmediato la búsqueda de un CFO permanente.

bioAffinity Technologies (Nasdaq: BIAF; BIAFW)는 CFO Michael Dougherty가 태평양 북서부 에너지 산업에서의 직책을 수락하기 위해 사임한다고 발표했습니다. J. Michael Edwards는 2014년부터 2023년까지 bioAffinity의 자문 CFO로 재직하며 2022년 회사의 IPO를 감독했습니다. 그는 영구적인 대체자가 찾을 때까지 임시 CFO로 돌아옵니다.

Dougherty는 2024년 9월 15일까지 역할을 계속하며 전환을 지원합니다. 회사는 Dougherty가 세운 강력한 팀과 재무 프로세스 덕분에 원활한 인계가 이루어질 것으로 기대하고 있습니다. Edwards는 25년 이상의 기업 금융 및 회계 경험을 바탕으로 재무 부서의 연속성을 보장할 것입니다.

bioAffinity Technologies는 조기 암 검출을 위한 비침습적 테스트 개발에 집중하고 있으며, 즉시 영구적인 CFO를 찾기 시작할 것입니다.

bioAffinity Technologies (Nasdaq: BIAF; BIAFW) a annoncé que le CFO Michael Dougherty démissionne pour accepter un poste dans l'industrie de l'énergie du Nord-Ouest Pacifique. J. Michael Edwards, qui a été CFO consultant de bioAffinity de 2014 à 2023 et a supervisé l'introduction en bourse de l'entreprise en 2022, reviendra en tant que CFO par intérim jusqu'à ce qu'un remplaçant permanent soit trouvé.

Dougherty continuera dans son rôle jusqu'au 15 septembre 2024, en aidant à la transition. L'entreprise s'attend à un passage en douceur grâce à l'équipe solide et aux processus financiers que Dougherty a établis. Edwards, avec plus de 25 ans d'expérience en finance d'entreprise et comptabilité, assurera la continuité au sein du département financier.

bioAffinity Technologies, axée sur le développement de tests non invasifs pour la détection précoce du cancer, commencera immédiatement à rechercher un CFO permanent.

bioAffinity Technologies (Nasdaq: BIAF; BIAFW) gab bekannt, dass CFO Michael Dougherty zurücktritt, um eine Position in der Energiebranche des pazifischen Nordwestens anzunehmen. J. Michael Edwards, der von 2014 bis 2023 als beratender CFO bei bioAffinity tätig war und den Börsengang des Unternehmens im Jahr 2022 leitete, wird bis zur Ernennung eines dauerhaften Nachfolgers als Interims-CFO zurückkehren.

Dougherty wird bis zum 15. September 2024 in seiner Rolle bleiben und bei der Übergabe helfen. Das Unternehmen erwartet aufgrund des starken Teams und der von Dougherty etablierten Finanzprozesse einen reibungslosen Übergang. Edwards, der über 25 Jahre Erfahrung in Unternehmensfinanzierung und Buchhaltung verfügt, wird die Kontinuität in der Finanzabteilung sicherstellen.

bioAffinity Technologies, das sich auf die Entwicklung nicht-invasiver Tests zur frühzeitigen Krebsentdeckung konzentriert, wird sofort mit der Suche nach einem dauerhaften CFO beginnen.

Positive
  • Smooth transition expected due to strong financial team and processes in place
  • Interim CFO J. Michael Edwards has extensive experience with the company, including overseeing its IPO in 2022
  • Current CFO will assist with transition until September 15, 2024
Negative
  • Departure of CFO Michael Dougherty, who played a key role in recent company developments

Edwards held CFO position at bioAffinity for nine years, leading Company through successful IPO

SAN ANTONIO--(BUSINESS WIRE)-- bioAffinity Technologies, Inc. (Nasdaq: BIAF; BIAFW), a biotechnology company focused on the need for noninvasive tests for the detection of early-stage cancer, today announced that Michael Dougherty has resigned as Chief Financial Officer to accept a CFO position in the Pacific Northwest in the energy industry.

J. Michael Edwards, who served as bioAffinity’s consulting CFO from 2014 to 2023 and oversaw the Company’s initial public offering in 2022, will serve as interim CFO until a permanent CFO is appointed. Dougherty will continue to serve in the role of CFO until Sept. 15, 2024, and will assist in the transition.

“We expect a seamless transition given the strong team and financial processes that Mike Dougherty has put in place and Michael Edwards’ extensive experience as bioAffinity’s previous CFO,” bioAffinity Technologies President and CEO Maria Zannes said. “During his tenure, Mike Dougherty played an important role in the acquisition of Precision Pathology Laboratory Services and the growth in adoption of CyPath® Lung, our noninvasive test for lung cancer. Mike has made significant contributions to bioAffinity’s success and is leaving us in good hands. We wish him the very best in his future endeavors.”

“I am grateful for the opportunity to work for bioAffinity Technologies and support its mission for the early detection of lung cancer. I’m proud of our accomplishments and leave with mixed emotions for this unexpected opportunity in the Pacific Northwest closer to home and family,” Dougherty said. “I have every confidence in the team we built and the financial planning and processes we implemented. I know this team will ensure the ongoing success of the Finance Department.”

Edwards has more than 25 years of experience in corporate finance and accounting. Previously, he served as CFO of CytoBioscience, Inc. and OncoVista Innovative Therapies, Inc. He is a certified public accountant and holds an MBA from The University of Texas McCombs School of Business.

bioAffinity Technologies will initiate a search for a permanent CFO immediately.

About CyPath® Lung

CyPath® Lung uses proprietary advanced flow cytometry and artificial intelligence (AI) to identify cell populations in patient sputum that indicate malignancy. Automated data analysis helps determine if cancer is present or if the patient is cancer-free. CyPath® Lung incorporates a fluorescent porphyrin that is preferentially taken up by cancer and cancer-related cells. Clinical study results demonstrated that CyPath® Lung had 92% sensitivity, 87% specificity and 88% accuracy in detecting lung cancer in patients at high risk for the disease who had small lung nodules less than 20 millimeters. Diagnosing and treating early-stage lung cancer can improve outcomes and increase patient survival. For more information, visit www.cypathlung.com.

About bioAffinity Technologies, Inc.

bioAffinity Technologies, Inc. addresses the need for noninvasive diagnosis of early-stage cancer and other diseases of the lung and broad-spectrum cancer treatments. The Company’s first product, CyPath® Lung, is a noninvasive test that has shown high sensitivity, specificity and accuracy for the detection of early-stage lung cancer. CyPath® Lung is marketed as a Laboratory Developed Test (LDT) by Precision Pathology Laboratory Services, a subsidiary of bioAffinity Technologies. For more information, visit www.bioaffinitytech.com.

Forward-Looking Statements

Certain statements in this press release constitute "forward-looking statements" within the meaning of the federal securities laws. Words such as "may," "might," "will," "should," "believe," "expect," "anticipate," "estimate," "continue," "predict," "forecast," "project," "plan," "intend" or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. These forward-looking statements are based upon current estimates and assumptions and include statements regarding a seamless transition given the strong financial team and processes, the ongoing success of the Finance Department and Edwards’ expected contributions to the Company. These forward-looking statements are subject to various risks and uncertainties, many of which are difficult to predict that could cause actual results to differ materially from current expectations and assumptions from those set forth or implied by any forward-looking statements. Important factors that could cause actual results to differ materially from current expectations include, among others, the ability to successfully transition from one CFO to another and the other factors discussed in the Company’s Annual Report on Form 10-K for the year ended December 31, 2023, and its subsequent filings with the SEC, including subsequent periodic reports on Forms 10-Q and 8-K. Such forward-looking statements are based on facts and conditions as they exist at the time such statements are made and predictions as to future facts and conditions. While the Company believes these forward-looking statements are reasonable, readers of this press release are cautioned not to place undue reliance on any forward-looking statements. The information in this release is provided only as of the date of this release, and the Company does not undertake any obligation to update any forward-looking statement relating to matters discussed in this press release, except as may be required by applicable securities laws.

bioAffinity Technologies

Julie Anne Overton

Director of Communications

jao@bioaffinitytech.com

Investor Relations

Dave Gentry

RedChip Companies Inc.

1-800-RED-CHIP (733-2447) or 407-491-4498

BIAF@redchip.com

Source: bioAffinity Technologies, Inc.

FAQ

Why is bioAffinity Technologies (BIAF) CFO Michael Dougherty leaving?

Michael Dougherty is resigning from bioAffinity Technologies to accept a CFO position in the Pacific Northwest energy industry, closer to his home and family.

Who will replace Michael Dougherty as CFO of bioAffinity Technologies (BIAF)?

J. Michael Edwards, who previously served as bioAffinity's consulting CFO from 2014 to 2023, will return as interim CFO until a permanent replacement is appointed.

When will Michael Dougherty officially leave his position as CFO of bioAffinity Technologies (BIAF)?

Michael Dougherty will continue to serve as CFO until September 15, 2024, and will assist in the transition process.

What major accomplishment did J. Michael Edwards oversee during his previous tenure at bioAffinity Technologies (BIAF)?

J. Michael Edwards oversaw bioAffinity Technologies' initial public offering (IPO) in 2022 during his previous tenure as consulting CFO from 2014 to 2023.

bioAffinity Technologies, Inc.

NASDAQ:BIAF

BIAF Rankings

BIAF Latest News

BIAF Stock Data

19.88M
11.08M
29.55%
3.03%
1.75%
Diagnostics & Research
Services-commercial Physical & Biological Research
Link
United States of America
SAN ANTONIO