Business Wire·May 8, 2026, 8:30 AM ET

bioAffinity Technologies Reports First Quarter 2026 Results and Expanding Adoption and Clinical Usage of CyPath® Lung

bioAffinity Technologies reported Q1 2026 results with CyPath® Lung unit sales rising 146% year-over-year.
CyPath® Lung testing revenue increased approximately 114% to $361,000, compared to $169,000 in Q1 2025.
Total consolidated revenue decreased 27% to $1.4 million due to the discontinuation of unprofitable pathology services in March 2025.
The number of physician offices ordering CyPath® Lung grew 69% from Q1 2025 to Q1 2026.
A large-scale longitudinal clinical trial funded by the U.S. Department of Defense is underway to validate CyPath® Lung performance across up to 20 sites, including VA medical centers.
Brooke Army Medical Center is conducting a 40-patient collaborative study to use the platform for detecting biologic drug receptors in asthma & COPD patients.
Three new experts were added to the Medical and Scientific Advisory Board to guide strategic priorities.
Three patient case studies were released showing CyPath® Lung results helped avoid unnecessary invasive biopsies by identifying "Unlikely Malignancy."
Operating expenses rose to $5.0 million, driven by increased selling, general, & administrative costs to support commercialization.
Net loss for the quarter was $3.6 million, or $0.81 per share, compared to $2.7 million in Q1 2025.
Cash & cash equivalents stood at $3.1 million as of March 31, 2026, down from $6.4 million at the end of 2025.
Management expects growth to accelerate throughout 2026 as commercial initiatives drive awareness of CyPath® Lung benefits.