Company: BIAF
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001493152-25-023405
Chunk: 45

Company: bioAffinity Technologies, Inc.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 8
Chunk 45
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 approximately $0.1 million, or 6%, for the nine months ended September 30, 2025, compared to the same period in 2024 was
primarily attributable to a decrease in compensation costs and benefits and lab supplies.

Clinical
Development

Clinical
development expenses totaled approximately $0.4 million and $0.2 million for the nine months ended September 30, 2025 and 2024, respectively.
The increase of approximately $0.2 million, or 112%, for the nine months ended September 30, 2025, compared to the same period in 2024
was primarily attributable to an increase in professional fees in 2025 related to managing our clinical strategy for our pivotal clinical
trial.

Selling,
General and Administrative

Our
selling, general and administrative expenses consist primarily of expenditures related to employee compensation, selling and marketing
costs, legal, accounting and tax, and other professional services, and general operating expenses.

Selling,
general and administrative expenses totaled approximately $6.9 million and $7.0 million for each of the nine months ended September 30,
2025 and 2024, respectively. Our selling, general and administrative costs stayed level as a result of decreases from targeted strategic
actions aimed at streamlining operations and reducing costs in our lab operations, offset by increases in employee compensation related
to the addition of personnel and support services to support sales of our diagnostic test, CyPath® Lung.

24

Depreciation
and Amortization

Depreciation
and amortization expenses totaled approximately $381,000 and $452,000 for the nine months ended September 30, 2025 and 2024, respectively.
The decrease of approximately $71,000, or 16%, for the nine months ended September 30, 2025, compared to the same period in 2024 was
primarily attributable to the termination of a financing lease in April 2025 due to the Company’s targeted strategic actions announced
in March 2025.

    Nine
    Months Ended  
    Change
    in 2025 

    September
    30,  
    Versus
    2024 

    2025  
    2024  
    $  
    % 
  
    Interest (expense)
    income, net 
    $(27,648) 
    $(58,889) 
    $26,241  
     49%