Business Wire·Nov 14, 2025, 8:00 AM ET

bioAffinity Technologies Reports Third Quarter 2025 Financial Results

BIAF BIAFW

bioAffinity Technologies reported a 97% increase in CyPath® Lung test volume & an 86% year-over-year revenue growth for the first nine months of 2025.
CyPath® Lung sales reached a record high in Q3 2025 with a 92% increase over the previous quarter, driven by adoption at Veterans Administration hospitals & expansion in the mid-Atlantic region.
Total revenue decreased to $1.5 million for the three months ended September 30, 2025, from $2.4 million in 2024 due to discontinuing unprofitable pathology services to reallocate resources.
CyPath® Lung testing revenue specifically increased 122% year-over-year for the quarter ended September 30, 2025.
The company raised approximately $10.4 million in gross proceeds from equity transactions to fund ongoing operations & growth initiatives.
Cash & cash equivalents rose to $7.7 million as of September 30, 2025, compared to $1.1 million at the end of 2024.
Operating expenses fell 16% to $3.7 million for the quarter, driven by lower direct costs from discontinued services, though R&D & clinical development expenses increased.
Net loss for the quarter was $5.1 million, primarily driven by expenses recorded for the change in fair value of warrants issued.
bioAffinity regained full Nasdaq Capital Market compliance for its common stock (BIAF) & warrants (BIAFW), subject to a one-year mandatory panel monitor.
The company expanded its patent portfolio with a new U.S. patent protecting its diagnostic algorithm & test method.
Roberto Rios, CPA, & John J. Oppenheimer, M.D., were appointed to the Board of Directors to provide financial & clinical leadership.
Four patient case studies were released highlighting CyPath® Lung's role in detecting Stage 1A lung cancer & avoiding unnecessary biopsies.
The company's diagnostic test demonstrates 92% sensitivity, 87% specificity, & 88% accuracy for detecting lung cancer in patients with small pulmonary nodules.