Company: BIAF
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001641172-25-024163
Chunk: 71

Company: bioAffinity Technologies, Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 7
Chunk 71
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151%, for the three months ended June 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, tax and other professional services, and general operating expenses.

Selling,
general and administrative expenses totaled approximately $2.2 million and $2.5 million for the three months ended June 30, 2025 and
2024, respectively. The decrease of approximately $0.3 million, or 10%, for the three months ended June 30, 2025, compared to the same
period in 2024 was primarily attributable a decrease in general and administrative costs related to lab operations as a result of our
targeted strategic actions which occurred in March 2025, aimed at streamlining operations and reducing costs. These decreases were partially
offset by an increase in employee compensation related to the addition of additional personnel and support services to support sales
of our diagnostic test, CyPath® Lung.

Depreciation
and Amortization

Depreciation
and amortization expenses totaled approximately $113,000 and $151,000 for the three months ended June 30, 2025 and 2024, respectively.
The decrease of approximately $38,000, or 25%, for the three months ended June 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.

Other
Income (Expense)

    Three Months Ended  
    Change in 2025 

    June 30,  
    Versus 2024 

    2025  
    2024  
    $  
    % 
  
    Interest (expense) income, net 
    $(8,435) 
    $(17,063) 
    $8,623  
     (14)%
  
    Other income (expense), net 
     (444,990) 
     1  
     (444,991) 
     —)%
  
    Gain (loss) on remeasurement of warrant liabilities 
     (1,062