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SAN ANTONIO - bioAffinity Technologies, Inc. (NASDAQ:BIAF) reported Wednesday that October test volume for its CyPath Lung diagnostic test increased 111% compared to the 2025 monthly average. This positive operational news comes as the company's stock trades at $2.09, near its 52-week low of $2.05, having fallen over 94% in the past year.
The noninvasive lung cancer detection test has shown steady adoption throughout 2025, with consistent month-over-month and quarter-over-quarter growth, according to the company. Third-quarter sales volume increased 95% over the previous quarter.
Medical practices ordering multiple CyPath Lung tests increased 106% in the third quarter compared to the prior quarter, and rose 67% in October compared to the year-to-date monthly average. Despite this operational progress, InvestingPro data shows the company faces financial challenges with a weak health score of 1.39, though analysts see the stock as potentially undervalued with its upcoming earnings report scheduled for November 12.
"The increase in CyPath Lung test volume demonstrates that physicians are increasingly recognizing the clinical value of CyPath Lung in detecting lung cancer at its earliest and most treatable stages," said Maria Zannes, President and CEO of bioAffinity Technologies.
CyPath Lung uses flow cytometry and artificial intelligence to identify cell populations in patient sputum that may indicate malignancy. The test incorporates a fluorescent porphyrin that is taken up by cancer and cancer-related cells.
According to information provided in the company's press release, a clinical study showed the test achieved 92% sensitivity, 87% specificity, and 88% accuracy in detecting lung cancer in high-risk patients with small lung nodules less than 20 millimeters.
The test is marketed as a Laboratory Developed Test by Precision Pathology Laboratory Services, a subsidiary of bioAffinity Technologies.
In other recent news, bioAffinity Technologies, Inc. has made significant strides with its financial and technological advancements. The company successfully closed a registered direct offering, raising $1.8 million through the sale of 720,000 shares of common stock priced at $2.50 per share. This offering was facilitated by WallachBeth Capital, LLC, serving as the sole placement agent. Additionally, bioAffinity Technologies received a notification of allowance from the United States Patent and Trademark Office for a new patent. This patent covers an AI-built algorithm and flow cytometry platform for detecting early-stage lung cancer, enhancing the capabilities of their CyPath® Lung test.
Further expanding its intellectual property portfolio, the Australian Patent Office accepted bioAffinity's patent application for a technology that assesses lung health and predicts the likelihood of multiple lung diseases. In compliance matters, bioAffinity Technologies has regained compliance with Nasdaq's continued listing requirements. The company met the minimum closing bid price and stockholders' equity requirements set by the exchange. These developments highlight bioAffinity Technologies' ongoing efforts to strengthen its financial position and expand its technological capabilities in the healthcare sector.
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