Core Insights - bioAffinity Technologies Inc reported strong growth in its CyPath Lung diagnostic, with a significant increase in revenue despite an overall decline in total revenue due to a strategic shift away from lower-margin lab services [1] Group 1: Financial Performance - CyPath Lung revenue surged by 87% year over year in 2025, with the number of tests performed increasing by 99% [2] - The net loss widened to $14.9 million from $9.0 million a year earlier, influenced by changes in the fair value of warrants, expanded sales activity, and increased clinical development spending [3] - Cash and cash equivalents improved to $6.5 million at year-end, up from $1.1 million, following approximately $16.9 million raised in 2025 financings [3] Group 2: Future Outlook - The company anticipates that CyPath Lung unit sales will increase by more than 100% in 2026 as it expands commercialization and clinical validation efforts [4] Group 3: Stock Performance - bioAffinity Technologies shares experienced a significant increase of 124.30%, reaching $2.40, nearing its 52-week low of $0.69 [6] - The Relative Strength Index (RSI) for bioAffinity Technologies surged above 70, indicating strong momentum and suggesting the stock may be entering overbought conditions [5]

Core Insights - The cancer diagnostics industry is rapidly evolving due to advancements in biotechnology, data analytics, and precision medicine, with bioAffinity Technologies, Inc. (BIAF) and Guardant Health, Inc. (GH) representing two distinct approaches in this space [1] Company Overview - bioAffinity focuses on non-invasive diagnostic tests for early detection of lung cancer and other lung diseases, utilizing flow cytometry and machine learning for data analysis [2] - Guardant Health operates a broader precision oncology platform with blood- and tissue-based genomic testing, offering molecular diagnostics for various stages of cancer care [3] Stock Performance & Valuation - Over the past three months, BIAF has underperformed with a decline of 37.6%, while GH has decreased by 10.7%. In the past year, BIAF's stock has plunged 90.9%, contrasting with GH's surge of 131.6% [5] - BIAF's trailing 12-month price-to-sales (P/S) ratio is 0.2X, significantly below its median of 1.1X over the past two years, while GH's P/S ratio is 12.2X, above its median of 6.7X [7] Factors Driving bioAffinity Stock - The increasing clinical adoption of CyPath Lung, bioAffinity's flagship diagnostic test, is a primary driver, as it provides additional diagnostic insights for high-risk patients [8] - Clinical evidence supporting CyPath Lung's utility in real-world medical decision-making is growing, potentially reducing the need for invasive procedures and guiding treatment decisions [9] - bioAffinity is developing a broader diagnostic platform for lung diseases, which may lead to future product development and expansion into respiratory disease management [10] Factors Driving Guardant Health Stock - Guardant Health is strengthening its position in the liquid biopsy market with a diverse portfolio of tests, including Guardant360 and Guardant Reveal, which support therapy selection and disease monitoring [11] - The commercial rollout of Shield, a blood-based colorectal cancer screening test, has received FDA approval and is accelerating adoption through expanded infrastructure and payer coverage [12][14] - Guardant Health's revenue is rising due to increased testing volumes and strategic collaborations with pharmaceutical companies, positioning it well in the precision oncology market [15] Investment Outlook - Guardant Health has shown strong gains and investor confidence due to its expanding product portfolio and adoption of precision oncology tests, suggesting a compelling investment opportunity [16] - In contrast, bioAffinity's sharp decline in share price indicates cautious market sentiment, reflecting uncertainty around its growth visibility despite potential upside [17] - The choice between the two companies for investors hinges on stability versus speculative recovery, with Guardant Health currently appearing as the more attractive investment option [18]

Core Viewpoint - bioAffinity Technologies, Inc. (BIAF) has experienced a significant decline in stock value following its third-quarter 2025 results, with shares dropping 21.8% since the earnings release, compared to a 2.2% loss in the S&P 500 Index during the same period [1] Financial Performance - In Q3 2025, bioAffinity reported total revenues of $1.4 million, a decrease of 38.5% from $2.4 million in the same quarter last year, due to a strategic exit from unprofitable pathology services and a focus on CyPath Lung commercialization [2] - CyPath Lung testing revenue increased by 122% year-over-year, driven by higher case volumes and increased physician adoption, particularly within Veterans Administration (VA) medical centers [2] - Operating expenses fell by 13.5% to $3.7 million from $4.3 million, primarily due to lower laboratory-related costs, but the net loss widened to $5.1 million from $2 million a year ago, largely due to non-cash expenses related to warrant revaluations [3] - Loss per share slightly narrowed to $4.74 from $4.84 [3] Operational Metrics - Direct costs decreased by 34.6% year-over-year to $0.9 million from $1.4 million, reflecting efficiency initiatives [4] - Selling, general, and administrative expenses decreased by 6.6%, while depreciation and amortization expenses dropped by 25.1% [4] - Research and development (R&D) spending rose by 20.4%, and clinical development costs increased by 52.9% due to expanded preclinical and clinical work [4] Growth and Adoption - Test volumes for CyPath Lung increased by 97% in the first nine months of 2025 compared to the prior year, with a record quarterly sales level in Q3 2025, climbing 92% from the previous quarter [5] - Management emphasized the importance of marketing initiatives targeting the VA health system, which have shown positive traction [7] Balance Sheet and Cash Position - Cash and equivalents improved significantly to $7.7 million from $1.1 million at year-end 2024, supported by $10.4 million in gross proceeds from equity transactions during the quarter [6] Strategic Focus and Future Plans - Management outlined strategic objectives for 2025, including expanding the sales team, engaging with major VA medical centers, and increasing marketing efforts [11] - The company is advancing companion diagnostic candidates for asthma and chronic obstructive pulmonary disease (COPD), targeting an estimated $26 billion global market [12] Governance and Intellectual Property - bioAffinity strengthened its governance with new board appointments and regained full Nasdaq Capital Market compliance [13] - The company added another U.S. patent protecting its proprietary algorithm used in CyPath Lung, marking its second consecutive quarter of patent portfolio expansion [13]

Core Insights - Merus NV's shares increased by 38.2% to $95.21 following Genmab's announcement of an $8 billion all-cash acquisition deal, which includes the addition of the breakthrough therapy Petosemtamab to Genmab's late-stage pipeline [1] Gainers - Steakholder Foods Ltd rose 92% to $8.32 after announcing an agreement to acquire Twine Solutions [4] - JFB Construction Holdings surged 77.4% to $12.15 following a $44 million private placement announcement [4] - Plus Therapeutics gained 24.3% to $0.77 after securing a national coverage agreement with UnitedHealthcare for its CNSide assay [4] - Avalo Therapeutics rose 24.1% to $13.40 after a previous decline of 6% [4] - Enanta Pharmaceuticals gained 22.7% to $9.69 ahead of presenting topline results from its Phase 2b study of Zelicapavir for RSV [4] - Canopy Growth Corp jumped 19.4% to $1.60 [4] - Zura Bio Ltd gained 18.3% to $2.85 after a 15% increase on Friday [4] - Tilray Brands surged 17.4% to $1.35, with first-quarter financial results to be announced on October 9 [4] - Larimar Therapeutics jumped 16.4% to $5.93, with an update on the Nomlabofusp program scheduled for September 2 [4] Losers - MoonLake Immunotherapeutics dipped 86.3% to $8.50 despite achieving statistically significant results in its Phase 3 VELA trials [4] - Maris Tech fell 37.3% to $2.62 after reporting a H1 loss of 30 cents per share [4] - Sunrise New Energy Co Ltd shares dipped 28.1% to $0.88 after a previous 10% gain [4] - Cycurion Inc declined 15.5% to $0.28 after a significant drop of over 30% on Friday [4] - bioAffinity Technologies dipped 14.4% to $4.53 after a 55% increase on Friday [4] - Youxin Technology Ltd fell 13.9% to $0.058 following a 1-for-80 reverse split announcement [4] - Top KingWin Ltd declined 12.8% to $4.07 after a previous 48% increase [4] - Cellectis SA fell 10.4% to $3.01 [4] - Quantum-Si Inc decreased 10.1% to $1.34 after filing for a mixed shelf of up to $300 million [4] - Penguin Solutions Inc fell 8.4% to $24.00 [4]

Market Performance - U.S. stocks traded higher, with the Dow up 0.83% to 46,328.48, the NASDAQ rising 0.45% to 22,484.92, and the S&P 500 gaining 0.62% to 6,645.73 [1] - Energy shares increased by 1.4%, while information technology stocks fell by 0.4% [1] Commodity Prices - Oil prices rose by 1.7% to $66.10, gold increased by 0.9% to $3,805.00, silver was up 1.8% to $45.945, and copper fell by 0.4% to $4.7390 [5] European Market Trends - European shares showed positive performance, with the eurozone's STOXX 600 gaining 0.66%, Spain's IBEX 35 Index rising 1.28%, London's FTSE 100 up 0.71%, Germany's DAX 40 gaining 0.66%, and France's CAC 40 climbing 0.78% [6] Asian Market Trends - Asian markets closed lower, with Japan's Nikkei 225 down 0.87%, Hong Kong's Hang Seng declining 1.35%, China's Shanghai Composite falling 0.65%, and India's BSE Sensex down 0.90% [7] Company News - MEDIROM Healthcare Technologies Inc. shares surged 106% to $2.9791 after announcing plans to deploy Orb across 100 Japanese relaxation studios [9] - bioAffinity Technologies, Inc. shares increased by 73% to $5.92 following the release of additional case studies demonstrating the effectiveness of CyPath Lung in detecting Stage 1A lung cancer [9] - Datavault AI Inc. shares rose 55% to $1.2890 after securing a $150 million investment in Bitcoin to build a supercomputer [9] - Pop Culture Group Co., Ltd shares dropped 53% to $0.9718 after entering a registered direct offering to sell 5 million shares at $1.20 per share [9] - Kuke Music Holding Limited shares fell 36% to $0.7507 after acquiring a controlling interest in Naxos Music Group [9] - Lexaria Bioscience Corp. shares decreased by 27% to $1.1187 after pricing a $4 million registered direct offering at $1.50 per share [9] Economic Indicators - U.S. personal spending rose by 0.6% month-over-month to $21.112 trillion in August, while personal income increased by 0.4% to $26.280 trillion [11] - The Personal Consumption Expenditures price index rose 2.7% year-over-year in August, marking the highest reading since February 2025 [11] - The University of Michigan consumer sentiment was revised lower to 55.1 in September from a preliminary reading of 55.4 and down from 58.2 in August [11]

Market Performance - U.S. stocks experienced gains, with the Dow up 0.83% to 46,328.48, the NASDAQ rising 0.45% to 22,484.92, and the S&P 500 increasing 0.62% to 6,645.73 [1] - Energy shares saw a notable increase of 1.4%, while information technology stocks fell by 0.4% [1] Commodity Prices - Oil prices rose by 1.7% to $66.10, gold increased by 0.9% to $3,805.00, silver was up 1.8% to $45.945, while copper fell by 0.4% to $4.7390 [5] European Market Trends - European shares showed positive movement, with the eurozone's STOXX 600 gaining 0.66%, Spain's IBEX 35 Index rising 1.28%, London's FTSE 100 up 0.71%, Germany's DAX 40 increasing by 0.66%, and France's CAC 40 climbing 0.78% [6] Asian Market Trends - Asian markets closed lower, with Japan's Nikkei 225 down 0.87%, Hong Kong's Hang Seng declining 1.35%, China's Shanghai Composite falling 0.65%, and India's BSE Sensex decreasing by 0.90% [7] Company News - MEDIROM Healthcare Technologies Inc. shares surged 106% to $2.9791 following plans to deploy Orb across 100 Japanese relaxation studios and expand to 200 locations [9] - bioAffinity Technologies, Inc. saw a 73% increase in shares to $5.92 after releasing additional case studies demonstrating the effectiveness of CyPath Lung in detecting Stage 1A lung cancer [9] - Datavault AI Inc. shares rose 55% to $1.2890 after securing a $150 million investment in Bitcoin to build a supercomputer [9] - Pop Culture Group Co., Ltd shares dropped 53% to $0.9718 after entering a registered direct offering to sell 5 million shares at $1.20 each [9] - Kuke Music Holding Limited shares fell 36% to $0.7507 following its acquisition of a controlling interest in Naxos Music Group [9] - Lexaria Bioscience Corp. shares decreased by 27% to $1.1187 after pricing a $4 million registered direct offering at $1.50 per share with $1.34 warrants in a concurrent private placement [9]

Market Overview - U.S. stocks experienced an upward trend, with the Dow Jones index increasing by over 250 points, closing at 46,213.26, a rise of 0.58% [1] - The NASDAQ rose by 0.31% to 22,455.17, and the S&P 500 gained 0.47% to 6,636.07 [1] - Energy shares saw a notable increase of 1%, while consumer staples stocks fell by 0.3% [1] Inflation and Economic Indicators - The Personal Consumption Expenditures (PCE) price index, the Federal Reserve's preferred inflation gauge, rose by 2.7% year-over-year in August, slightly above July's 2.6% [2][3] - Monthly PCE inflation accelerated to 0.3% in August, up from 0.2% in July [3] - Personal spending in the U.S. increased by 0.6% month-over-month to $21.112 trillion in August, exceeding market estimates [13] - U.S. personal income rose by 0.4% month-over-month to $26.280 trillion in August, also above market expectations [13] Commodity Market - Oil prices increased by 0.7% to $65.44, while gold rose by 0.5% to $3,789.00 [6] - Silver saw a rise of 1.4% to $45.725, whereas copper fell by 0.7% to $4.7240 [6] European Market Performance - European shares showed positive performance, with the eurozone's STOXX 600 gaining 0.8% [7] - Spain's IBEX 35 Index rose by 1.1%, London's FTSE 100 increased by 0.8%, Germany's DAX 40 gained 0.8%, and France's CAC 40 climbed 0.9% [7] Company-Specific Movements - MEDIROM Healthcare Technologies Inc. saw a significant share price increase of 155% to $3.74 following its expansion plans [9] - BioAffinity Technologies, Inc. shares surged by 92% to $6.57 after releasing additional case studies related to lung cancer detection [9] - Datavault AI Inc. shares rose by 50% to $1.2510 after securing a $150 million investment in Bitcoin [9] - Pop Culture Group Co., Ltd experienced a drop of 52% to $0.9802 due to a registered direct offering [9] - Kuke Music Holding Limited shares fell by 31% to $0.8111 after acquiring a controlling interest in Naxos Music Group [9] - Lexaria Bioscience Corp. shares decreased by 27% to $1.11 following a registered direct offering announcement [9] Asian Market Performance - Asian markets closed lower, with Japan's Nikkei 225 falling by 0.87%, Hong Kong's Hang Seng declining by 1.35%, China's Shanghai Composite down by 0.65%, and India's BSE Sensex falling by 0.90% [10]

Market Overview - U.S. stocks experienced an upward trend, with the Dow Jones index increasing by over 250 points, closing at 46,213.26, a rise of 0.58% [1] - The NASDAQ rose by 0.31% to 22,455.17, and the S&P 500 gained 0.47% to 6,636.07 [1] - Energy shares saw a notable increase of 1%, while consumer staples stocks fell by 0.3% [1] Inflation and Economic Indicators - The Personal Consumption Expenditures (PCE) price index, the Federal Reserve's preferred inflation gauge, rose by 2.7% year-over-year in August, slightly above July's 2.6% [2][3] - Monthly PCE inflation accelerated to 0.3% in August, up from 0.2% in July [3] - Personal spending in the U.S. increased by 0.6% month-over-month to $21.112 trillion in August, surpassing market estimates [13] - U.S. personal income rose by 0.4% month-over-month to $26.280 trillion in August, also above market expectations [13] Commodity Market - Oil prices increased by 0.7% to $65.44, while gold rose by 0.5% to $3,789.00 [6] - Silver saw a rise of 1.4% to $45.725, whereas copper fell by 0.7% to $4.7240 [6] European Market Performance - European shares showed positive performance, with the eurozone's STOXX 600 gaining 0.8% [7] - Spain's IBEX 35 Index rose by 1.1%, London's FTSE 100 increased by 0.8%, Germany's DAX 40 gained 0.8%, and France's CAC 40 climbed by 0.9% [7] Company-Specific Movements - MEDIROM Healthcare Technologies Inc. shares surged by 155% to $3.74 following the announcement of expansion plans [9] - bioAffinity Technologies, Inc. saw a 92% increase in shares to $6.57 after releasing additional case studies [9] - Datavault AI Inc. shares rose by 50% to $1.2510 after securing a $150 million investment in Bitcoin [9] - Pop Culture Group Co., Ltd shares dropped by 52% to $0.9802 due to a registered direct offering [9] - Kuke Music Holding Limited shares fell by 31% to $0.8111 after acquiring a controlling interest in Naxos Music Group [9] - Lexaria Bioscience Corp. shares decreased by 27% to $1.11 following a registered direct offering announcement [9] Asian Market Performance - Asian markets closed lower, with Japan's Nikkei 225 falling by 0.87%, Hong Kong's Hang Seng declining by 1.35%, China's Shanghai Composite down by 0.65%, and India's BSE Sensex falling by 0.90% [10]

As filed with the Securities and Exchange Commission on September 25, 2025. Registration No. 333-290480 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 AMENDMENT NO. 1 TO 3300 Nacogdoches Road Suite 216 San Antonio, Texas 78217 (210) 698-5334 (Address, including zip code, and telephone number, including area code, of registrant's principal executive offices) FORM S-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 bioAffinity Technologies, Inc. (Exact name of registrant as sp ...

As filed with the Securities and Exchange Commission on September 24, 2025. Registration No. 333- UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM S-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 bioAffinity Technologies, Inc. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organization) (Primary Standard Industrial Classification Code Number) Delaware 8731 46-5211056 (I.R.S. Employer Identification Number) 3300 N ...