Company: BIAF
Filing Date: 2025-06-27
Form Type: POS AM
Source: 0001641172-25-016923
Chunk: 172

Company: bioAffinity Technologies, Inc.
Filing Date: 2025-06-27
Form: POS AM
Chunk 172
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 |                 |  1,853,597 |   |     |      |  2,403,506 |   |
| Total net revenues                  |     |                 |  1,853,597 |   |     |      |  2,406,391 |   |
| Operating expenses:                 |     |                 |            |   |     |      |            |   |
| Diagnostic R&D                      |     |                 |   (505,739 | ) |     |      |   (442,599 | ) |
| Laboratory services                 |     |                 | (2,267,656 | ) |     |      | (2,736,999 | ) |
| General corporate activities        |     |                 | (1,707,341 | ) |     |      | (1,172,023 | ) |
| Total operating loss                |     |                 | (2,627,139 | ) |     |      | (1,945,230 | ) |
| Non-operating income (expense), net |     |                 |    (24,583 | ) |     |      |    (12,913 | ) |
| Net loss before income taxes        |     |                 | (2,651,722 | ) |     |      | (1,958,143 | ) |
| Income tax expense                  |     |                 |     (8,695 | ) |     |      |     (3,672 | ) |
| Net loss                            |     | $               | (2,660,417 | ) |     | $    | (1,961,815 | ) |

| F-9 |

Research and Development

Research and development costs are
charged to expense as incurred. The Company’s research and development expenses consist primarily of expenditures for laboratory
operations, preclinical studies, compensation, and consulting costs.

Accrued Research and Development Costs

The Company records accrued liabilities
for estimated costs of research and development activities conducted by service providers, which include preclinical studies. The Company
records the estimated costs of research and development activities based upon the estimated amount of services provided but not yet invoiced
and includes these costs in accrued expenses in the accompanying condensed consolidated balance sheets and within research and development
expense in the accompanying condensed consolidated statements of operations.

The Company accrues for these costs
based on factors such as estimates of the work completed and in accordance with agreements established with service providers. The Company
makes significant judgments and estimates in