Company: BIAF
Filing Date: 2025-04-22
Form Type: 424B3
Source: 0001641172-25-005598
Chunk: 92

Company: bioAffinity Technologies, Inc.
Filing Date: 2025-04-22
Form: 424B3
Chunk 92
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 of our diagnostic tests analyzes cell populations, including cancer and cancer-related cells, that
are indicative of a specific diseased state.

Our diagnostic test, CyPath Lung,
addresses the need for noninvasive detection of early-stage lung cancer. Lung cancer is the leading cause of cancer-related deaths worldwide.
Physicians order CyPath Lung to assist in their assessment of patients who are at high risk for lung cancer. The CyPath
Lung test enables physicians to more confidently identify patients who will likely benefit from timely intervention and more invasive
follow-up procedures and those who are likely without lung cancer and should continue routine screening. CyPath Lung has
the potential to increase overall diagnostic accuracy of lung cancer, which could lead to increased survival, fewer unnecessary invasive
procedures, reduced patient anxiety, and lower medical costs.

Commercial laboratory services, including CyPath©
Lung, are 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 our platform 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 year ended December
31, 2024 include:

| ● | Consolidated revenue increased approximately 270% to $9.4 million as compared to $2.5 million for the year ended December 31, 2023, primarily as a result of the acquisition of PPLS in September 2023.                                 |
| ● | CyPath® Lung testing revenue increased approximately 1,400% to $0.5 million as compared to $35 thousand for the year ended December 31, 2023, due to an increase in total test results