Shares of bioAffinity Technologies Inc. (NASDAQ:BIAF) climbed about 19% as investors reacted to developments surrounding the company’s lung cancer diagnostic platform.
The company reported strong momentum for CyPath Lung, its non-invasive lung cancer detection test. Revenue from the product increased 87%, while test volumes rose 99% year over year, reflecting accelerating adoption. Based on current trends, the company expects unit growth to more than double in 2026 as it continues expanding the platform’s use.
Despite the strong performance of CyPath Lung, the company’s overall financial results remained under pressure. Consolidated revenue declined and total losses widened to roughly $14.9 million, highlighting the importance of continued capital support and the successful commercialization of CyPath Lung.
BioAffinity is also advancing research aimed at validating and expanding the diagnostic platform. One major initiative is a 2,000-patient clinical study being conducted across multiple VA medical centers and military hospitals. The study is designed to further establish CyPath Lung and FlowPath Lung as non-invasive tools for detecting lung cancer in high-risk patients.
In addition, research presented at AAAAI 2026 suggested potential new applications in respiratory disease management. The company said its platform can help identify appropriate therapies for asthma and COPD patients by analyzing drug antibody receptor interactions, expanding its broader diagnostic capabilities.
Another ongoing validation study, conducted in collaboration with Brooke Army Medical Center, is examining whether collecting sputum samples during bronchoscopy deep suctioning procedures could broaden the clinical use of CyPath Lung.
Financially, the company continues to operate in an investment-heavy phase. While gross margins stand at 100%, operating and profit margins remain deeply negative, reflecting the significant resources being directed toward product development and commercialization. Recent financial metrics, including a profit margin of roughly -217.5%, illustrate the company’s current balance between rapid technological progress and ongoing financial strain.