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bioAffinity Technologies Reports Third Quarter 2026 Results and Continued Momentum in CyPath® Lung Commercialization

BIAF
  • bioAffinity Technologies reported Q3 2026 financial results & business highlights for the period ended September 30, 2026.
  • CyPath Lung test unit sales doubled year-to-date compared to 2025, with a 100% increase in the first nine months of 2026 versus the same period in 2025.
  • Testing revenue increased 79% year-to-date to approximately $1.1 million.
  • The number of ordering physicians rose 89% in Q3 2026 compared to Q3 2025, while existing physician volume increased 48% year-over-year.
  • The company surpassed the total number of CyPath Lung test reports delivered to physicians in 2025 by July 2026.
  • bioAffinity expanded its government healthcare distribution network via an agreement with AvMEDICAL to serve the Department of Veterans Affairs.
  • The ongoing longitudinal clinical trial now includes 11 active sites, including nine VA & military medical centers, with funding from the John P. Murtha Cancer Center Research Program.
  • The company advanced CyPath Lung for use in lung cancer survivor surveillance to complement imaging for monitoring recurrence.
  • Research presented at CHEST 2026 showed positive results for noninvasive tests characterizing lung inflammation in asthma & COPD.
  • A collaboration with Pictor, Inc. was announced to develop next-generation diagnostic tests for lung inflammation.
  • Preliminary research demonstrated that stabilized siRNAs selectively kill squamous & basal carcinoma cells while sparing noncancerous skin cells.
  • The company received a Hong Kong patent grant & a Japanese Notice of Allowance for its CyPath Lung lung cancer prediction technology.
  • bioAffinity raised $8.0 million in gross proceeds through private & direct placements in August & October 2026.
  • Total revenue for Q3 2026 was approximately $1.1 million, a decrease from $1.4 million in Q3 2025 due to lower reimbursement rates & reduced cases at Precision Pathology Laboratory Services.
  • Net loss for Q3 2026 was approximately $5.3 million, compared to $5.1 million in the prior-year quarter.
  • Cash & cash equivalents stood at $2.6 million as of September 30, 2026, with an additional $4.0 million raised subsequent to quarter-end.
  • Operating expenses increased 28% to $4.6 million, driven by additional sales personnel & support services for commercialization.
  • Research & development expenses rose 18% to $389,000 due to laboratory supplies & relocation costs.
  • Clinical development expenses increased 75% to $251,000 to reflect the initiation of trial sites & patient enrollment.
  • The company's patent portfolio now includes 22 awarded patents & 36 pending applications.