Company: BIAF
Filing Date: 2025-05-02
Form Type: S-1
Source: 0001641172-25-008170
Chunk: 88

Company: bioAffinity Technologies, Inc.
Filing Date: 2025-05-02
Form: S-1
Chunk 88
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 see the section entitled “Cautionary Note Regarding Forward-Looking Statements” and “Market, Industry and Other Data.”

This section presents management’s perspective on our financial condition and results of operations. The following discussion and analysis (the “MD&A”) is intended to highlight and supplement data and information presented elsewhere in this prospectus. The MD&A is also intended to provide you with information that will assist you in understanding our consolidated financial statements, the changes in key items in those consolidated financial statements from year to year, and the primary factors that accounted for those changes. To the extent that this discussion describes prior performance, the descriptions relate only to the periods listed, which may not be indicative of our future financial outcomes. In addition to historical information, this discussion contains forward-looking statements that involve risks, uncertainties, and assumptions that could cause the Company’s financial results to differ materially from management’s expectations. Factors that could cause such differences are discussed in the “Cautionary Note Regarding Forward-Looking Statements” section of this prospectus and in the “Risk Factors” in this prospectus.

Our MD&A is organized as follows:

| ● 
 ● | Company                                                                                                                       
 Overview – Discussion of our business plan and strategy to provide context for the remainder of the MD&A.                     
 Results                                                                                                                       
 of Operations – Analysis of our financial results comparing the year ended December 31, 2024, to the year ended December      
 31, 2023.                                                                                                                     |
|:--|:------------------------------------------------------------------------------------------------------------------------------|
| ● | Liquidity                                                                                                                     
 and Capital Resources – Analysis of changes in our cash flows and discussion of our financial condition and potential sources 
 of liquidity.                                                                                                                 |
| ● | Critical                                                                                                                      
 Accounting Estimates – Accounting estimates are those estimates made in accordance with U.S. generally accepted accounting    
 principles (“GAAP”) that we believe are important to understanding the assumptions and judgments incorporated in our          
 reported financial results and forecasts.                                                                                     |

Company Overview

Business

We develop noninvasive diagnostics to detect early-stage lung cancer and other diseases of the lung using flow cytometry and automated analysis developed by machine learning, a form of artificial intelligence (“AI”). Our diagnostic tests, including our commercial test CyPath ®Lung and those tests in our pipeline for development, analyzes cell populations that are indicative of a specific diseased state.

Our diagnostic test, CyPath ®Lung, addresses the need for noninvasive detection of early-stage lung cancer. Lung cancer is the leading cause of cancer-related deaths worldwide. Physicians order