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BIAF

bioAffinity Technologies, Inc.

BIAF

bioAffinity Technologies, Inc. • NASDAQ
$1.50 ▲ 3.45% (+0.05)
Market Cap $6.75 M
52w High $46.53
52w Low $1.25
Dividend Yield 0%
P/E -0.11
Volume 35.99K
Outstanding Shares 4.50M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $1.446M ▲ $2.683M ▼ $-5.051M ▼ -349.298% ▼ $-4.74 ▲ $-4.929M ▼
Q2-2025 $1.269M ▼ $2.768M ▼ $-4.061M ▼ -319.877% ▼ $-5.07 ▼ $-3.908M ▼
Q1-2025 $1.854M ▼ $3.113M ▼ $-2.66M ▲ -143.527% ▼ $-4.8 ▲ $-2.482M ▲
Q4-2024 $2.208M ▼ $3.438M ▲ $-2.967M ▼ -134.395% ▼ $-6.3 ▼ $-2.788M ▼
Q3-2024 $2.35M $2.884M $-2.001M -85.128% $-4.8 $-1.825M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $7.669M ▲ $11.546M ▲ $2.644M ▼ $8.902M ▲
Q2-2025 $802.835K ▲ $4.751M ▼ $6.887M ▲ $-2.136M ▼
Q1-2025 $444.706K ▼ $5.547M ▼ $4.108M ▲ $1.439M ▼
Q4-2024 $1.105M ▲ $6.514M ▼ $3.912M ▲ $2.602M ▼
Q3-2024 $756.58K $6.552M $3.431M $3.121M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-5.051M ▼ $-2.48M ▲ $3.646K ▲ $9.343M ▲ $6.866M ▲ $-2.477M ▲
Q2-2025 $-4.061M ▼ $-2.647M ▼ $-13.427K ▲ $3.019M ▲ $358.129K ▲ $-2.661M ▼
Q1-2025 $-2.66M ▲ $-1.642M ▲ $-50.786K ▼ $1.032M ▼ $-660.585K ▼ $-1.693M ▼
Q4-2024 $-2.967M ▼ $-1.677M ▲ $-1 ▲ $2.026M ▲ $348.711K ▲ $-1.677M ▲
Q3-2024 $-2.001M $-1.709M $-9.41K $1.674M $-44.731K $-1.719M

Revenue by Products

Product Q3-2024Q1-2025Q2-2025Q3-2025
Health Care Patient Service
Health Care Patient Service
 $0 ▲$0 ▲$0 ▲$0 ▲
Other Revenues
Other Revenues
 $0 ▲$0 ▲$0 ▲$0 ▲
Health Care Other
Health Care Other
 $0 ▲$0 ▲$0 ▲$0 ▲

Five-Year Company Overview

Income Statement

Income Statement The company is still in a very early commercial stage. Revenue has been essentially nonexistent for several years, with only a token amount recently, which means the business is not yet supported by product sales. Operating results are consistently negative, driven by research, development, and general corporate costs rather than by manufacturing or large-scale sales activities. Net losses have been steady over time, which is typical for a young biotech focused on building technology rather than generating immediate profit. Per‑share losses look very large mainly because of the company’s small size and past share structure changes, not because of massive cash outflows in absolute terms.

Balance Sheet

Balance Sheet The balance sheet is very small and thinly capitalized. The company has only modest assets and limited cash on hand, with no meaningful debt in recent years. Equity has moved from negative to only slightly positive, suggesting that capital raises have shored up the balance sheet but left little cushion. Most of the company’s real value sits in its intellectual property and know‑how, which do not fully show up as hard assets. Overall, the financial base is fragile and likely requires ongoing external funding to support operations and growth plans.

Cash Flow

Cash Flow Cash flow patterns reflect a typical development‑stage biotech: money flows out to fund research, clinical validation, and corporate overhead, while very little comes in from customers. Operating cash flow has been consistently negative, and free cash flow follows the same pattern, with no significant spending on plants or equipment. This means the cash burn is mainly from people, trials, and technology development rather than heavy infrastructure. The company’s ability to keep going depends on its access to new capital from investors, partners, or other financing sources.

Competitive Edge

Competitive Edge BioAffinity is trying to carve out a niche in early lung cancer detection with its CyPath Lung test, which uses a proprietary cancer‑seeking dye, advanced cell analysis, and artificial intelligence. The technology is supported by a growing patent portfolio and proprietary datasets, creating meaningful barriers for direct copycats. The test’s reported accuracy and non‑invasive nature help it stand out from traditional screening methods and could reduce unnecessary invasive procedures. However, the company is small and going up against much larger diagnostics and imaging players, will rely heavily on physician adoption and reimbursement decisions, and faces potential competition from other emerging tools such as blood‑based tests and improved imaging protocols.

Innovation and R&D

Innovation and R&D Innovation is clearly the core of the business. The company has built a differentiated lung cancer test that combines unique biomarkers with sophisticated analytics, and it is exploring extensions into other lung diseases like COPD and asthma. Beyond diagnostics, it is also developing targeted cancer therapies using porphyrin‑based drug delivery and an siRNA approach aimed at selectively killing cancer cells, backed by recent patents in the U.S. and China. Most of these therapeutic programs are still at an early, preclinical stage, which means long timelines, high uncertainty, and a need for sustained investment. The dual focus on diagnostics and therapeutics offers multiple shots on goal but also stretches a small organization across several ambitious projects.

Summary

BioAffinity Technologies is an early‑stage healthcare company with promising technology but very limited commercial traction so far. Financially, it operates with minimal revenue, ongoing losses, and a small balance sheet, which is typical for a young biotech but underscores its reliance on outside funding. Strategically, its strength lies in a novel, non‑invasive lung cancer test supported by patents, proprietary data, and AI‑driven analysis, plus a pipeline of potential diagnostic and therapeutic applications. The main opportunities are broader clinical adoption of CyPath Lung, expansion into additional lung conditions, and eventual progress of its cancer therapies. Key risks include execution on commercialization, securing reimbursement, regulatory changes affecting lab‑developed tests, intense competition from larger firms and new technologies, and the constant need to raise capital in order to keep advancing its science.

NEWS

November 14, 2025 · 8:00 AM UTC

bioAffinity Technologies Reports Third Quarter 2025 Financial Results

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November 5, 2025 · 8:00 AM UTC

bioAffinity Technologies Reports Accelerating Month-Over-Month Growth in CyPath® Lung Test Volume

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October 28, 2025 · 8:00 AM UTC

bioAffinity Technologies Announces Acceptance of Australian Patent Application for Platform to Detect and Characterize Multiple Lung Diseases

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October 20, 2025 · 8:00 AM UTC

bioAffinity Technologies Presents Research Supporting CyPath® Lung Processing Methods at CHEST 2025

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October 16, 2025 · 8:00 AM UTC

bioAffinity Technologies Announces Notification of Allowance for U.S. Patent Application for Its Diagnostic Algorithm and Test Method for Lung Cancer

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