Company: BIAF
Filing Date: 2025-04-11
Form Type: S-1
Source: 0001641172-25-003892
Chunk: 32

Company: bioAffinity Technologies, Inc.
Filing Date: 2025-04-11
Form: S-1
Chunk 32
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, CG(ASCP), our Chief Operating Officer, and Michael Edwards, our Chief Financial Officer, as well as Roby Joyce, M.D.,
the Medical Director of PPLS.

The loss of the services of any of our executive officers
or other members of our management team could impede the achievement of our research, development, and commercialization objectives and
seriously harm our ability to successfully implement our business strategy. Furthermore, replacing executive officers and key employees
may be difficult and may take an extended period of time because of the limited number of individuals in our industry with the breadth
of skills and experience required to successfully develop, gain regulatory approval of, and commercialize diagnostic tests or therapeutic
products. Competition to hire from this limited pool is intense, and we may be unable to hire, train, retain, or motivate key personnel
on acceptable terms given the competition among numerous biotechnology companies for similar expertise. We also face competition from
universities and research institutions for qualified scientific and clinical personnel. In addition, we rely and expect to continue to
rely to a significant degree on consultants and advisors, including scientific and clinical advisors, to assist us in formulating our
research and development and commercialization strategies. Our consultants and advisors may be engaged by other entities and may have
commitments under consulting or advisory contracts that may limit their availability to us. If we are unable to continue to attract and
retain high-quality personnel, our ability to pursue our growth strategy will be limited.

Our lack of operating experience may make it difficult to manage our growth which could lead to our inability to implement our business plan.

We have limited experience in marketing and selling
diagnostic tests and pharmaceutical products. Any growth will require us to expand our management and our operational and financial systems
and controls. If we are unable to do so, our business and financial condition would be materially harmed. If rapid growth occurs, it may
strain our operational, managerial, and financial resources.

We will depend on third parties to manufacture our kits, reagents and supplies and help in marketing our diagnostic tests and to design trial protocols, arrange for and monitor the clinical trials, and collect and analyze data.

We do not have, and do not now intend to develop,
facilities for the manufacture of the contents of our collection kits needed for clinical or commercial production. In addition, we are
not a party to any long-term agreement with any of our suppliers such as the reagents used in processing sputum samples, and accordingly,
we have the