Company: BIAF
Filing Date: 2025-06-27
Form Type: POS AM
Source: 0001641172-25-016927
Chunk: 91

Company: bioAffinity Technologies, Inc.
Filing Date: 2025-06-27
Form: POS AM
Chunk 91
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 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 led to discoveries and advancement of novel cancer therapeutic approaches that specifically and selectively target cancer cells. We expect to present our findings at conferences and publish our research in the near future. We intend to seek strategic partners to develop our therapeutic discoveries which could result in broad-spectrum cancer treatments in the future.

Research and optimization of ourplatform technologies are conducted in laboratories at our wholly owned subsidiary, PPLS and leased laboratory space at The University of Texas at San Antonio.

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Current Year Financial Highlights

Key financial results for the three months quarter ended March 31, 2025, include:

| ● | Consolidated                                                                                                                            
 revenue decreased approximately 23% to $1.9 million as compared to $2.4 million for the three months ended March 31, 2024, primarily    
 as a result of our targeted strategic actions to discontinue certain unprofitable pathology services, reduced costs through operational 
 efficiency and drive sales growth for CyPath® Lung.                                                                                     |
| ● | CyPath®                                                                                                                                 
 Lung testing revenue increased approximately 275% to $169,000 as compared to $45,000 for the three months ended March 31, 2024,         
 due to an increase in total test results delivered of approximately 200 for the current quarter.                                        |
| ● | We                                                                                                                                      
 raised approximately $1.4 million in gross proceeds from equity transactions to fund operating activities.                              |

Recent Developments

On May 8, 2025, we released “CyPath ®Lung In Practice” authored by Gordon Downie, MD, PhD, Director of the Titus Regional Hospital Lung Nodule Clinic and Interventional Pulmonology, in which he presented his experience and approach to using CyPath ®Lung in medical practice, including four case studies in which CyPath ®Lung proved clinically determinative. Dr. Downie opined that “adding CyPath ®Lung to our algorithm has accelerated diagnosis, helped guide difficult clinical discussions, and prevented unnecessary invasive