Company: BIAF
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001641172-25-024163
Chunk: 26

Company: bioAffinity Technologies, Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 8
Chunk 26
---
 to the respective 10-year
term of the 2014 Plan in March 2024. A new 2024 Incentive Compensation Plan (the “2024 Plan”) was approved at the Annual
Meeting of Shareholders on June 4, 2024.

The
Company has recorded stock-based compensation expense related to the issuance of restricted stock awards in the following line items
in the accompanying condensed consolidated statements of operations:

SUMMARY OF STOCK-BASED COMPENSATION EXPENSE RECOGNIZED FOR STOCK OPTION AWARDS 

    2025  
    2024  
    2025  
    2024 

    Three Months Ended  June 30,  
    Six Months Ended  June 30, 

    2025  
    2024  
    2025  
    2024 

    Research and development 
    $(8,334) 
    $35,345  
    $12,916  
    $57,227 
  
    General and administrative 
     219,941  
     251,949  
     525,307  
     512,680 
  
    Total stock-based compensation
    expense 
    $211,607  
    $287,294  
    $538,223  
    $569,907 

The
following table summarizes stock option activity under the 2014 Plan and 2024 Plan:

SUMMARY OF OPTION ACTIVITY

    Number of  options  
    Weighted-average  exercise price  
    Weighted-average  remaining contractual  term (in years)  
    Aggregate  intrinsic value 
  
    Outstanding at December 31, 2024 
     304,125  
    $6.95  
     4.45  
     — 
  
    Granted 
     —  
     —  
     —  
     — 
  
    Exercised 
     —  
     —  
     —  
     — 
  
    Forfeited 
     —  
     —  
     —  
     — 
  
    Outstanding at June 30, 2025 
     304,125  
    $6.95  
     3.90  
     — 

    Vested and exercisable at June 30, 2025