Company: BIAF
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001493152-25-023405
Chunk: 63

Company: bioAffinity Technologies, Inc.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 7
Chunk 63
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On
October 16, 2025, the Company announced it received a notice of allowance from the U.S. Patent Office for its patent application that
protects its diagnostic algorithm and test method to detect lung cancer.

On
October 28, 2025, the Company announced that the Australian Patent Office accepted a patent application for the Company’s proprietary
platform technology for assessing lung health and predicting the likelihood of multiple lung diseases.

Recent
Financings

All
share and per-share amounts in the accompanying footnotes have been retroactively adjusted to reflect the Company’s 1-for-30 reverse
stock split.

In
October 2025, the Company entered into definitive agreements for the purchase and sale of 720,000 shares of common stock, par value $0.007
per share, at a purchase price of $2.50 per share in a registered direct offering priced at-the-market under Nasdaq rules. The gross
proceeds to the Company from the offering were approximately $1.8 million before deducting placement agent fees and other offering expenses
payable by the Company.

On
September 29, 2025, the Company consummated a best efforts public offering of an aggregate of (i) 1,047,694 shares of Common Stock and
(ii) pre-funded warrants to purchase up to 874,067 shares of Common Stock in lieu of shares of Common Stock. Each share was sold at a
public offering price of $2.50. Each pre-funded warrant was sold at a public offering price of $2.493. The total gross proceeds for the
transaction were approximately $4.8 million.

On
August 13, 2025, the Company entered into a securities purchase agreement with certain institutional and accredited investors, pursuant
to which the Company agreed to issue and sell in a private placement (i) 990 shares of the Company’s newly designated Series B
Convertible Preferred Stock, with a par value $0.001 per share and stated value of $1,000 per share, for gross proceeds to the Company
of $990,000, which were initially convertible into 143,476 shares of the Company’s Common Stock at an initial conversion price
of $6.90 per share and (ii) warrants to purchase up to 223,824 shares of the Company’s Common Stock at an exercise price of $10.56
per share of Common Stock.

20

On
August 13, 2025, the Company entered