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bioAffinity Technologies, Inc. (NASDAQ: BIAF) is a pioneering biotechnology company dedicated to addressing the critical need for the early detection and targeted treatment of cancer and lung diseases. The company develops proprietary, noninvasive diagnostic tests and cancer therapeutics that focus on the cellular level, which has the potential to significantly improve patient outcomes.
One of the company’s leading innovations is the CyPath® Lung test, a noninvasive diagnostic tool designed to detect early-stage lung cancer. This test employs flow cytometry technology to analyze sputum samples, which can dramatically increase diagnostic accuracy, reduce the need for invasive procedures, and lower medical costs while enhancing patient comfort and survival rates. CyPath® Lung has been licensed by Precision Pathology Services for further development and commercial sale as a laboratory-developed test.
Recent company milestones include a securities purchase agreement with institutional investors, announced on March 6, 2024, by WallachBeth Capital LLC. This agreement involves a registered direct offering and a concurrent private placement, expected to raise approximately $2.5 million. The proceeds will support the company's ongoing research, development activities, and potential commercialization efforts.
Financially, bioAffinity Technologies is actively engaging with institutional investors to secure funding necessary for its ambitious projects. The company’s efforts are supported by an effective shelf registration statement filed with the U.S. Securities and Exchange Commission (SEC) and the strategic guidance of WallachBeth Capital, which provides comprehensive capital market and investment banking services tailored to the healthcare sector.
Through its innovative approach and strong industry partnerships, bioAffinity Technologies aims to revolutionize cancer diagnosis and treatment, ultimately improving survival rates and quality of life for patients worldwide.
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
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) has successfully completed its initial public offering (IPO), raising approximately $7.8 million through the sale of 1,282,600 units. Each unit consists of one share of common stock and two types of warrants, with exercise prices set at $7.35 and $7.656. The underwriters have an option to purchase up to 192,390 additional shares and/or warrants. The offering, managed by WallachBeth Capital and Craft Capital Management, aims to enhance bioAffinity's efforts in developing noninvasive cancer diagnostics.
bioAffinity Technologies, Inc. (NASDAQ: BIAF, BIAFW) announced the successful completion of its IPO, raising approximately
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