bioAffinity Technologies News Update

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.

Positive

• Increase in CyPath® Lung sales by 21% from March to April.

• Expansion of CyPath® Lung orders to physicians outside of Texas.

• Recruitment of experienced sales and patient support team members.

• Presentation of research at the American Thoracic Society's Annual Conference.

Negative

• None.

SAN ANTONIO--(BUSINESS WIRE)-- bioAffinity Technologies, Inc. (Nasdaq: BIAF; BIAFW) shares recent Company news.

CyPath^® Lung Sales Ramp Up Month over Month

Sales of CyPath^® Lung, our noninvasive diagnostic test for the early detection of lung cancer, continue to climb, with April sales up 21% over March. Physicians outside of Texas are also signing up with our wholly owned subsidiary, Precision Pathology Laboratory Services, to order CyPath^® Lung for their patients. In addition to Texas, pulmonologists in New Jersey, Pennsylvania, Michigan and North Carolina have ordered CyPath^® Lung diagnostic tests for their patients with pulmonary nodules.

CyPath^® Lung Sales, Support Teams Continue to Grow

bioAffinity Technologies’ National Sales Director Dallas Coleman announced that Jackie Kennedy has joined the Company as Pulmonary Sales Executive for CyPath^® Lung in the San Antonio/Austin market. Ms. Kennedy previously worked for Pulmonx Corporation, a provider of minimally invasive treatments for chronic obstructive pulmonary disease (COPD). In addition to Pulmonx, she has worked at Philips Healthcare, Baxter Healthcare, and Evologics America. “We are excited to welcome Jackie to the team at a pivotal time in the product launch for CyPath^® Lung,” Mr. Coleman said. “In her two decades of experience in healthcare sales and marketing, she has built and maintained strong customer relationships and consistently exceeded her sales targets.”

We are also pleased to announce that Jessica Alarcon has joined the Company as our newest Patient Coach for CyPath^® Lung. Ms. Alarcon provides a personal touch for patients who have questions about collecting a sputum sample. “Patients have told us how much they appreciate having a Patient Coach who can walk them through the collection process,” bioAffinity Technologies President and CEO Maria Zannes said. “Jessica brings multi-faceted experience to this very important position, where she shares her insight and empathy for our patients at high risk for lung cancer.”

bioAffinity To Present at American Thoracic Society’s Annual Conference

bioAffinity Staff Scientist Lydia Bederka, Ph.D., is heading to San Diego this month to present research, “Sputum Versus Bronchoalveolar Lavage (BAL) Fluid on a Flow Cytometric Platform,” at the 2024 American Thoracic Society (ATS) International Conference. Dr. Bederka will present research conducted in the development of a diagnostic test that uses BAL fluid to detect lung cancer. The ATS conference brings 14,000 clinicians and researchers in pulmonology, critical care and sleep medicine together to share ideas and innovations.

About bioAffinity Technologies, Inc.

bioAffinity Technologies, Inc. addresses the need for noninvasive diagnosis of early-stage cancer and diseases of the lung and broad-spectrum cancer treatment. The Company’s first product, CyPath^® Lung, is a noninvasive test that has shown high sensitivity and specificity 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, Inc. For more information, visit www.bioaffinitytech.com and follow us on LinkedIn, Facebook and X (Twitter).

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 sales of CyPath^® Lung continuing to climb in the Company’s limited test market launch in Texas, physicians outside of Texas signing up with Precision Pathology Laboratory Services to order CyPath^® Lung for their patients, the expected contributions of Jackie Kennedy and Jessica Alarcon, and presenting research this month at the American Thoracic Society’s Annual Conference in San Diego. 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 Company’s ability to continue to grow its sales of CyPath^® Lung, the Company’s ability to increase the physicians signing up to order CyPath^® Lung for their patients 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240502141417/en/

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

What is the stock symbol for bioAffinity Technologies, Inc.?

The stock symbol for bioAffinity Technologies, Inc. is Nasdaq: BIAF.

What is CyPath® Lung?

CyPath® Lung is a noninvasive diagnostic test for the early detection of lung cancer developed by bioAffinity Technologies.

How much did CyPath® Lung sales increase from March to April?

CyPath® Lung sales increased by 21% from March to April.

Where will bioAffinity Technologies present research?

bioAffinity Technologies will present research at the American Thoracic Society's Annual Conference in San Diego.