Company: BIAF
Filing Date: 2025-05-05
Form Type: S-1/A
Source: 0001641172-25-008629
Chunk: 88

Company: bioAffinity Technologies, Inc.
Filing Date: 2025-05-05
Form: S-1/A
Chunk 88
---
.

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 CyPath ®Lung to assist in their assessment of patients who are at high risk for lung cancer. The CyPath ®Lung test enables physicians to more confidently identify patients who will likely benefit from timely intervention and more invasive follow-up procedures and those who are likely without lung cancer and should continue routine screening. CyPath ®Lung has the potential to increase overall diagnostic accuracy of lung cancer, which could lead to increased survival, fewer unnecessary invasive procedures, reduced patient anxiety, and lower medical costs.

Commercial laboratory services, including CyPath ®Lung, are performed at our wholly owned subsidiary PPLS which we acquired by purchasing the assets of Village Oaks Pathology Services, P.A., a Texas professional association d/b/a Precision Pathology Services, that included the CAP-accredited and CLIA-certified commercial laboratory it owned. We now own and operate the clinical anatomic and clinical pathology laboratory. CyPath ®Lung is offered for sale to physicians by PPLS.

Through our wholly owned subsidiary, OncoSelect ®Therapeutics, LLC, we have conducted research that has