Street Calls of the Week
SAN ANTONIO - bioAffinity Technologies, Inc. (NASDAQ:BIAF, BIAFW), a biotechnology company developing noninvasive tests for early-stage cancer detection, announced Monday it has priced a public offering expected to generate $4.8 million in gross proceeds. The offering comes as the company, currently valued at $5.16 million, faces significant challenges with its stock down over 80% year-to-date.
The offering consists of 1,921,799 shares of common stock priced at $2.50 per share, with pre-funded warrants available as an alternative at $2.493 each. Each pre-funded warrant will be immediately exercisable for one share of common stock at an exercise price of $0.007 per share.
WallachBeth Capital, LLC is serving as the sole placement agent for the transaction, which is expected to close on or about September 30, 2025, subject to customary closing conditions.
The securities are being offered through a registration statement on Form S-1 previously filed with and declared effective by the Securities and Exchange Commission.
bioAffinity Technologies focuses on developing diagnostic tools for early-stage cancer detection. The company’s first product, CyPath Lung, is a noninvasive test for early-stage lung cancer detection currently marketed as a Laboratory Developed Test through the company’s subsidiary, Precision Pathology Laboratory Services.
The information in this article is based on a company press release statement.
In other recent news, bioAffinity Technologies Inc. has released three new case studies demonstrating the effectiveness of its CyPath Lung test in detecting early-stage lung cancer. The test successfully identified Stage 1A lung cancer in one instance, while in two other cases, it helped patients avoid unnecessary invasive procedures. The company also announced a 1-for-30 reverse stock split of its common stock, effective September 19, 2025, as approved by stockholders at their annual meeting. Additionally, bioAffinity Technologies has amended the terms of certain outstanding warrants, raising the floor price and reducing the total number of shares issuable under May 2025 warrants. In a move to strengthen its board, the company appointed Roberto Rios, CPA, and John J. Oppenheimer, M.D., as new directors. Furthermore, bioAffinity Technologies raised approximately $1.2 million through a private placement and warrant inducement transaction, involving Series B Convertible Preferred Stock and warrants for common stock. These developments reflect the company’s ongoing efforts in advancing its cancer detection technologies and strengthening its financial position.
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