bioAffinity Technologies to implement 1-for-30 reverse stock split

SAN ANTONIO - bioAffinity Technologies, Inc. (NASDAQ:BIAF), currently trading at $0.26 and down over 71% year-to-date according to InvestingPro data, announced it will implement a 1-for-30 reverse stock split of its common stock effective September 19, 2025, according to a company press release.

The biotechnology company, which develops noninvasive tests for early-stage cancer detection, will continue trading on the Nasdaq Capital Market under the symbol "BIAF" but with a new CUSIP number (09076W307). The reverse split was approved by stockholders at the company’s annual meeting on July 25. With a current market capitalization of just $7.36 million and a Fair financial health rating according to InvestingPro, the company faces significant challenges.

Following the split, every 30 shares of issued and outstanding common stock will be consolidated into one share, with cash payments issued for any resulting fractional shares. The company will have approximately 1,338,029 shares outstanding after the split takes effect. InvestingPro analysis reveals concerning metrics, including a current ratio of 0.64, indicating potential liquidity challenges. Subscribers can access 8 additional key financial metrics and insights.

The primary purpose of the reverse split is to bring bioAffinity Technologies into compliance with Nasdaq’s minimum bid price requirement, the company stated. This move comes as the stock has shown significant volatility, with the price falling nearly 86% over the past year.

Proportionate adjustments will be made to the company’s outstanding stock options, warrants, and shares available for future awards under its stock incentive plans. The CUSIP number for the company’s publicly traded warrants will remain unchanged.

VStock Transfer LLC is serving as the exchange agent for the reverse split and will send transaction notices to stockholders holding shares electronically, along with any cash payments for fractional shares.

bioAffinity Technologies’ first product, CyPath Lung, is a noninvasive test for early-stage lung cancer detection that is marketed as a Laboratory Developed Test by the company’s subsidiary, Precision Pathology Laboratory Services.

In other recent news, bioAffinity Technologies, Inc. has secured approximately $1.2 million through a private placement and warrant inducement transaction. This funding was raised by entering into agreements with institutional and accredited investors, involving 990 shares of Series B Convertible Preferred Stock and warrants for about 6.7 million common shares. Additionally, the company announced that the Canadian Patent Office has approved its patent for a method to detect lung disease, enhancing the international protection of its diagnostic platform. In corporate governance updates, bioAffinity Technologies appointed Roberto Rios and John J. Oppenheimer to its Board of Directors. Rios brings extensive experience in corporate finance, while Oppenheimer is expected to contribute his medical expertise. Furthermore, the company amended the terms of certain outstanding warrants, increasing the floor price and reducing the total number of shares issuable under the May 2025 warrants. These developments reflect bioAffinity Technologies’ ongoing efforts to strengthen its financial position and expand its capabilities in lung cancer detection.

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