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SAN ANTONIO - bioAffinity Technologies, Inc. (NASDAQ:BIAF) reported a 95% increase in sales of its CyPath® Lung diagnostic test for lung cancer in the third quarter of 2025 compared to the previous quarter, according to a company press release. The micro-cap company, currently valued at $2.5 million, has seen its stock decline over 90% year-to-date, though InvestingPro analysis suggests the shares may be undervalued at current levels.
The diagnostic test manufacturer attributed the growth to increased adoption by Veterans’ hospitals and market expansion in the mid-Atlantic region. For the first nine months of 2025, sales rose 97% compared to the same period in 2024.
The company also reported a 77% increase in new patients using the test during the third quarter, along with improved patient compliance for at-home sample collection.
CyPath® Lung uses flow cytometry and artificial intelligence to analyze patient sputum samples for cancer indicators. The test incorporates a fluorescent porphyrin that is taken up by cancer and cancer-related cells. According to the company, clinical studies showed the test had 92% sensitivity, 87% specificity, and 88% accuracy in detecting lung cancer in high-risk patients with small lung nodules.
Maria Zannes, President and CEO of bioAffinity Technologies, said in the press release that the growth "underscores the growing physician confidence" in the test’s ability to detect early-stage lung cancer and prevent unnecessary invasive procedures for benign nodules.
The company markets CyPath® Lung as a Laboratory Developed Test through its subsidiary, Precision Pathology Laboratory Services.
In other recent news, bioAffinity Technologies has closed its public offering, successfully raising $4.8 million in gross proceeds. This offering involved the sale of 1,921,761 shares of common stock at $2.50 each, along with pre-funded warrants priced at $2.493, which are exercisable at $0.007 per share. The proceeds are expected to support the company’s ongoing initiatives. Additionally, bioAffinity Technologies has announced a 1-for-30 reverse stock split of its common stock, which will take effect on September 19, 2025. This decision was approved during the company’s annual stockholders’ meeting. In a separate development, the company released case studies demonstrating the effectiveness of its CyPath Lung test in detecting early-stage lung cancer. These studies highlighted the test’s ability to identify Stage 1A lung cancer and help patients avoid unnecessary invasive procedures. These recent developments reflect bioAffinity Technologies’ ongoing efforts to advance its cancer detection technologies.
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