**bioAffinity Technologies Reports Impressive $2.4 Million Revenue for Q3 2024**

**SAN ANTONIO, Texas, November 14, 2024 -** In a recent financial disclosure, bioAffinity Technologies, Inc. (NASDAQ: BIAF; BIAFW), a prominent biotechnology company focusing on the necessity for noninvasive and precise tests in the early detection of lung cancer and other pulmonary diseases, unveiled their financial results for the quarter ending September 30, 2024.

**Key Highlights**
– The company reported quarterly revenue of $2.4 million for the third quarter of 2024.
– Witnessed over a 1,300% growth rate in CyPath Lung orders in the first nine months of 2024 compared to the full year of 2023.
– Notably, the number of physician offices signed on increased by 75% from the preceding quarter, setting the stage for accelerated CyPath Lung sales in the forthcoming quarters.

The company shared its achievements of expanding their CyPath Lung test sales footprint to include physicians in 11 states, affirming a $9.6 million revenue projection for 2024 for their wholly owned Precision Pathology subsidiary.

Additionally, in October 2024, CyPath Lung was included in the U.S. Federal Supply Schedule, a procurement scheme providing convenient access to state-of-the-art healthcare products to the Veterans Health Administration and the Military Health System.

In pursuit of its goal to provide comprehensive and groundbreaking cancer diagnostics, bioAffinity Technologies is actively engaged in new product development collaborations, aiming to enhance patient outcomes.

Maria Zannes, President and Chief Executive Officer of bioAffinity Technologies, expressed satisfaction at the substantial progress made during the third quarter. Zannes acknowledged the enhanced recognition of CyPath Lung’s value for early lung cancer detection and highlighted the Company’s efforts to broaden access to the innovative diagnostic tool.

Under Zannes’ leadership, bioAffinity Technologies remains resolute in expanding operations and solidifying its position in the rapidly advancing market, particularly in Texas where the company has established a robust sales and support infrastructure to cater to increasing demand.

**Financial Snapshot for Q3 2024**
– Third-quarter revenue of $2.4 million, marking a significant increase from the prior-year revenue of $298,000.
– Noteworthy expenses included research and development at $274,000, clinical development at $94,000, and selling, general, and administrative expenses at $2.4 million.
– A net loss of $2.0 million, indicating an improvement from the net loss of $2.3 million in the comparable period of 2023.
– As of September 30, 2024, cash and cash equivalents stood at $0.8 million.

BioAffinity Technologies, Inc., with its CyPath Lung test as a flagship product, aims to address the critical need for noninvasive diagnosis of early-stage lung cancer and lung diseases. The Company’s ongoing initiatives underscore its dedication to advancing noninvasive diagnostic solutions for cancer detection.

*This article is based on the 8-K filing submitted to the Securities and Exchange Commission (SEC) by bioAffinity Technologies, Inc.*

*Please note that forward-looking statements are subject to various risks and uncertainties, which may differ from current expectations and could impact actual results.*

###Contact:
Julie Anne Overton
Director of Communications
[email protected]

Dave Gentry
RedChip Companies Inc.
1-800-RED-CHIP (733-2447) or 407-491-4498
[email protected]

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read bioAffinity Technologies’s 8K filing here.

bioAffinity Technologies Company Profile

bioAffinity Technologies, Inc, a biotechnology company, engages in developing non-invasive diagnostic tests and targeted cancer therapeutics. The company offers CyPath lung, a diagnostic test, for early detection of lung cancer. It also researches targeted therapies to treat lung cancer and other diseases of the lung at the cellular level.