bioAffinity Technologies initiates $1.8M direct funding round
Stock Offering Details: bioAffinity Technologies has finalized agreements to sell 720,000 shares of common stock at $2.50 per share, aiming for gross proceeds of approximately $1.8 million.
Use of Proceeds: The funds will be allocated for working capital, supporting sales growth for their CyPath® Lung test for lung cancer, and general corporate purposes, with the offering expected to close around October 9, 2025.
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bioAffinity Showcases CyPath® Lung Cancer Detection Technology with 92% Sensitivity
- Technology Showcase: bioAffinity's Chief Medical Officer, Gordon Downie, will present at the American Cancer Society's National Lung Cancer Roundtable, highlighting CyPath® Lung's success in identifying three cases of Stage 1A lung cancer, demonstrating its effectiveness in complex cases.
- Clinical Challenges: Faced with uncertain lung nodule diagnoses, CyPath® Lung, in conjunction with low-dose CT and PET imaging, provides clear results that assist physicians in confirming diagnoses at early stages, thereby enhancing treatment opportunities for patients.
- Sensitivity and Accuracy: CyPath® Lung exhibits a 92% sensitivity and 88% accuracy in high-risk patients, underscoring its significance in early lung cancer detection, which can significantly improve patient survival rates.
- Industry Collaboration: This presentation occurs at the NLCRT meeting, which includes 194 medical and public health organizations, emphasizing bioAffinity's leadership in lung cancer diagnostics and fostering collaboration and innovation within the industry.
bioAffinity Technologies Sees Rapid Month-Over-Month Increase in CyPath® Lung Test Volume
Sales Growth of CyPath® Lung: bioAffinity Technologies reported a 111% increase in test volume for its noninvasive lung cancer diagnostic test, CyPath® Lung, in October 2025 compared to the monthly average for the first nine months of the year, indicating strong adoption by physicians.
Clinical Value Recognition: The increase in test volume reflects growing recognition among clinicians of the test's clinical value in early lung cancer detection, particularly for patients with indeterminate pulmonary nodules.
Consistent Growth Trends: Throughout 2025, CyPath® Lung has shown consistent month-over-month and quarter-over-quarter sales growth, with a 95% increase in third-quarter sales compared to the previous quarter.
Technology and Accuracy: CyPath® Lung utilizes advanced flow cytometry and AI for detecting malignancy in sputum samples, achieving 92% sensitivity and 88% accuracy in clinical studies, which underscores its potential to improve early-stage lung cancer diagnosis and patient outcomes.