Latest news with #Zannes
Yahoo
6 days ago
- Business
- Yahoo
bioAffinity Technologies Works With Cardinal Health™ OptiFreight® Logistics to Help Meet Demand for CyPath® Lung
SAN ANTONIO, June 03, 2025--(BUSINESS WIRE)--bioAffinity Technologies, Inc. (Nasdaq: BIAF; BIAFW), a biotechnology company advancing noninvasive diagnostics and targeted therapeutics for cancer, today announced publication of "The Drive for Early Detection," a case study detailing how bioAffinity Technologies utilizes support from Cardinal Health™ OptiFreight® Logistics to help meet demand for CyPath® Lung, a noninvasive test for detection of early stage lung cancer. "Our innovative, accurate diagnostic for lung cancer relies on dependable, on-time delivery of viable sputum samples to our laboratory for processing and providing reliable results to patients and their physicians," bioAffinity President and CEO Maria Zannes said. "CyPath® Lung has a strategic logistics partner in OptiFreight® Logistics who works with us to solve challenges, reduce costs, and continuously improve performance. They have the expertise and national reach to help ensure we meet the growing commercial demand for our test." bioAffinity uses information from Cardinal Health™ OptiFreight® Logistics TotalVue™ Insights, a cloud-based platform that provides shipment tracking, data analytics and reporting, to help address shipping challenges and identify opportunities to improve logistics. "We are pleased to work with bioAffinity to help advance their mission in providing patients with access to early-stage lung cancer detection," said Emily Gallo, Senior Vice President and General Manager of Cardinal Health™ OptiFreight® Logistics. "Our collaboration helps to ensure vital samples are delivered reliably and efficiently, enabling timely diagnoses that can make a real difference in the lives of patients." "With the growing demand for CyPath® Lung – including availability to veterans in rural areas through the Federal Supply Schedule and GSA Advantage – reliable, efficient shipping is more important than ever," Zannes said. "OptiFreight® Logistics provides near real-time alerts on weather disruptions and processing delays, enabling the CyPath® Lung lab to adjust collection schedules and avoid delivery failures. Our partnership with OptiFreight® helps ensure the success of our national expansion." To read the case study, visit Ms. Zannes will also be a panelist on the Cardinal Health™ OptiFreight® Logistics webinar, "Seeing a better way: Increasing visibility to optimize healthcare logistics," at 2 p.m. ET on June 12. Register here for the webinar. About CyPath® Lung CyPath® Lung uses proprietary advanced flow cytometry and artificial intelligence (AI) to identify cell populations in patient sputum that indicate malignancy. Automated data analysis helps determine if cancer is present or if the patient is cancer-free. CyPath® Lung incorporates a fluorescent porphyrin that is preferentially taken up by cancer and cancer-related cells. Clinical study results demonstrated that CyPath® Lung had 92% sensitivity, 87% specificity and 88% accuracy in detecting lung cancer in patients at high risk for the disease who had small lung nodules less than 20 millimeters. Diagnosing and treating early-stage lung cancer can improve outcomes and increase patient survival. For more information, visit About bioAffinity Technologies, Inc. bioAffinity Technologies, Inc. addresses the need for noninvasive diagnosis of early-stage cancer and other diseases of the lung and broad-spectrum cancer treatments. The Company's first product, CyPath® Lung, is a noninvasive test that has shown high sensitivity, specificity and accuracy for the detection of early-stage lung cancer. CyPath® Lung is marketed as a Laboratory Developed Test (LDT) by Precision Pathology Laboratory Services, a subsidiary of bioAffinity Technologies. For more information, visit Forward-Looking Statements Certain statements in this press release constitute "forward-looking statements" within the meaning of the federal securities laws. Words such as "may," "might," "will," "should," "believe," "expect," "anticipate," "estimate," "continue," "predict," "forecast," "project," "plan," "intend" or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. These forward-looking statements are based upon current estimates and assumptions and include statements regarding bioAffinity advancing its mission to provide patients with access to early-stage lung cancer detection; the collaboration helping to ensure sputum samples are delivered reliably and efficiently, enabling timely diagnoses that can make a real difference in the lives of patients; and the partnership with OptiFreight® helping to ensure the success of the Company's national expansion. These forward-looking statements are subject to various risks and uncertainties, many of which are difficult to predict, that could cause actual results to differ materially from current expectations and assumptions from those set forth or implied by any forward-looking statements. Important factors that could cause actual results to differ materially from current expectations include, among others, the ability of the Company to successfully expand nationally; ensure sputum samples are delivered reliably and efficiently, enabling timely diagnoses that can make a real difference in the lives of patients; the ability to advance its mission to provide patients with access to early-stage lung cancer detection; and the other factors discussed in the Company's Annual Report on Form 10-K for the year ended December 31, 2024, and its subsequent filings with the SEC, including subsequent periodic reports on Forms 10-Q and 8-K. Such forward-looking statements are based on facts and conditions as they exist at the time such statements are made and predictions as to future facts and conditions. While the Company believes these forward-looking statements are reasonable, readers of this press release are cautioned not to place undue reliance on any forward-looking statements. The information in this release is provided only as of the date of this release, and the Company does not undertake any obligation to update any forward-looking statement relating to matters discussed in this press release, except as may be required by applicable securities laws. View source version on Contacts bioAffinity Technologies Julie Anne OvertonDirector of Communicationsjao@ Investor Relations Dave GentryRedChip Companies Inc.1-800-RED-CHIP (733-2447) or 407-491-4498BIAF@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Wire
6 days ago
- Business
- Business Wire
bioAffinity Technologies Works With Cardinal Health™ OptiFreight
SAN ANTONIO--(BUSINESS WIRE)-- bioAffinity Technologies, Inc. (Nasdaq: BIAF; BIAFW), a biotechnology company advancing noninvasive diagnostics and targeted therapeutics for cancer, today announced publication of 'The Drive for Early Detection,' a case study detailing how bioAffinity Technologies utilizes support from Cardinal Health™ OptiFreight ® Logistics to help meet demand for CyPath ® Lung, a noninvasive test for detection of early stage lung cancer. "CyPath® Lung has a strategic logistics partner in OptiFreight® Logistics who works with us to solve challenges, reduce costs, and continuously improve performance." 'Our innovative, accurate diagnostic for lung cancer relies on dependable, on-time delivery of viable sputum samples to our laboratory for processing and providing reliable results to patients and their physicians,' bioAffinity President and CEO Maria Zannes said. 'CyPath ® Lung has a strategic logistics partner in OptiFreight ® Logistics who works with us to solve challenges, reduce costs, and continuously improve performance. They have the expertise and national reach to help ensure we meet the growing commercial demand for our test.' bioAffinity uses information from Cardinal Health™ OptiFreight ® Logistics TotalVue™ Insights, a cloud-based platform that provides shipment tracking, data analytics and reporting, to help address shipping challenges and identify opportunities to improve logistics. 'We are pleased to work with bioAffinity to help advance their mission in providing patients with access to early-stage lung cancer detection,' said Emily Gallo, Senior Vice President and General Manager of Cardinal Health™ OptiFreight ® Logistics. 'Our collaboration helps to ensure vital samples are delivered reliably and efficiently, enabling timely diagnoses that can make a real difference in the lives of patients.' 'With the growing demand for CyPath ® Lung – including availability to veterans in rural areas through the Federal Supply Schedule and GSA Advantage – reliable, efficient shipping is more important than ever,' Zannes said. 'OptiFreight ® Logistics provides near real-time alerts on weather disruptions and processing delays, enabling the CyPath ® Lung lab to adjust collection schedules and avoid delivery failures. Our partnership with OptiFreight ® helps ensure the success of our national expansion.' To read the case study, visit Ms. Zannes will also be a panelist on the Cardinal Health™ OptiFreight ® Logistics webinar, 'Seeing a better way: Increasing visibility to optimize healthcare logistics,' at 2 p.m. ET on June 12. Register here for the webinar. About CyPath ® Lung CyPath ® Lung uses proprietary advanced flow cytometry and artificial intelligence (AI) to identify cell populations in patient sputum that indicate malignancy. Automated data analysis helps determine if cancer is present or if the patient is cancer-free. CyPath ® Lung incorporates a fluorescent porphyrin that is preferentially taken up by cancer and cancer-related cells. Clinical study results demonstrated that CyPath ® Lung had 92% sensitivity, 87% specificity and 88% accuracy in detecting lung cancer in patients at high risk for the disease who had small lung nodules less than 20 millimeters. Diagnosing and treating early-stage lung cancer can improve outcomes and increase patient survival. For more information, visit About bioAffinity Technologies, Inc. bioAffinity Technologies, Inc. addresses the need for noninvasive diagnosis of early-stage cancer and other diseases of the lung and broad-spectrum cancer treatments. The Company's first product, CyPath ® Lung, is a noninvasive test that has shown high sensitivity, specificity and accuracy for the detection of early-stage lung cancer. CyPath ® Lung is marketed as a Laboratory Developed Test (LDT) by Precision Pathology Laboratory Services, a subsidiary of bioAffinity Technologies. For more information, visit Forward-Looking Statements Certain statements in this press release constitute "forward-looking statements" within the meaning of the federal securities laws. Words such as "may," "might," "will," "should," "believe," "expect," "anticipate," "estimate," "continue," "predict," "forecast," "project," "plan," "intend" or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. These forward-looking statements are based upon current estimates and assumptions and include statements regarding bioAffinity advancing its mission to provide patients with access to early-stage lung cancer detection; the collaboration helping to ensure sputum samples are delivered reliably and efficiently, enabling timely diagnoses that can make a real difference in the lives of patients; and the partnership with OptiFreight ® helping to ensure the success of the Company's national expansion. These forward-looking statements are subject to various risks and uncertainties, many of which are difficult to predict, that could cause actual results to differ materially from current expectations and assumptions from those set forth or implied by any forward-looking statements. Important factors that could cause actual results to differ materially from current expectations include, among others, the ability of the Company to successfully expand nationally; ensure sputum samples are delivered reliably and efficiently, enabling timely diagnoses that can make a real difference in the lives of patients; the ability to advance its mission to provide patients with access to early-stage lung cancer detection; and the other factors discussed in the Company's Annual Report on Form 10-K for the year ended December 31, 2024, and its subsequent filings with the SEC, including subsequent periodic reports on Forms 10-Q and 8-K. Such forward-looking statements are based on facts and conditions as they exist at the time such statements are made and predictions as to future facts and conditions. While the Company believes these forward-looking statements are reasonable, readers of this press release are cautioned not to place undue reliance on any forward-looking statements. The information in this release is provided only as of the date of this release, and the Company does not undertake any obligation to update any forward-looking statement relating to matters discussed in this press release, except as may be required by applicable securities laws.
Yahoo
20-05-2025
- Business
- Yahoo
BIAF Stock Rises Post Q1 Earnings Despite Revenue Decline
Shares of bioAffinity Technologies, Inc. BIAF have risen 0.04% since the company reported its earnings for the quarter ended March 31, 2025, slightly lagging the broader market, as the S&P 500 Index rose 1.1% over the same period. However, the stock's longer-term performance has been notably weak, with a 54.7% decline over the past month compared to a robust 15.4% increase in the S&P 500. For the first quarter of 2025, bioAffinity reported revenues of $1.9 million, down 22.9% from $2.4 million in the year-ago period. The decline was primarily due to changes in revenue contributions from patient service fees, histology services and medical director fees. Despite the top-line contraction, BIAF's net loss narrowed on a per-share basis to $0.16 compared with a net loss of $0.20 per share in the first quarter of 2024, though the absolute loss widened to $2.7 million from $1.9 million due to a higher share count. (Find the latest EPS estimates and surprises on Zacks Earnings Calendar.) Operating expenses increased 2.9% to $4.5 million from $4.4 million in the prior-year quarter. Direct costs and expenses declined 13.1% to $1.4 million from $1.6 million, and R&D expenses fell 6.7% to $367,386 from $393,639. However, clinical development expenses rose sharply from $48,960 to $138,353, reflecting ongoing investments in bioAffinity's pivotal trial strategy. Selling, general and administrative expenses increased 12.2% to $2.5 million from $2.2 million, as the company scaled its commercialization team for CyPath Lung. Sales of bioAffinity's flagship diagnostic, CyPath Lung, surged 276% year over year, reflecting growing market acceptance and operational scaling following the test's 2024 beta launch in Texas. The company emphasized strong demand during the quarter, supported by more than 600 tests delivered in 2024 and continued momentum into 2025. Management attributed the performance to the test's clinical utility, including its ability to detect early-stage lung cancer and prevent unnecessary invasive procedures. The sharp revenue decline appears at odds with the CyPath Lung sales spike, likely indicating a strategic pivot away from low-margin services. This aligns with management's decision to discontinue select pathology services and implement cost-cutting measures expected to save approximately $3.8 million annually. These actions are designed to improve profitability and focus resources on high-margin diagnostics. bioAffinity Technologies, Inc. price-consensus-eps-surprise-chart | bioAffinity Technologies, Inc. Quote CEO Maria Zannes highlighted bioAffinity's operational progress and strategic direction in her remarks. She pointed to a clear focus on commercial execution, including targeted labor reductions and operational changes at the company's subsidiary lab. These efforts are aimed at supporting CyPath Lung's growth while improving the overall cost structure. Zannes also emphasized recent enhancements in CyPath Lung's test processing. Specifically, post-quarter improvements increased data acquisition throughput by 50% and reduced per-test cost by more than 25%, materially enhancing scalability and profitability without compromising clinical performance. bioAffinity ended the quarter with $0.4 million in cash, down from $1.1 million as of Dec. 31, 2024. However, the company has since bolstered its liquidity position, raising $1.4 million through warrant exercises in February and an additional $3.3 million via a public offering in May. These capital raises are expected to support commercialization efforts and ongoing clinical development. bioAffinity did not provide forward-looking financial guidance. However, qualitative commentary suggested a continued strategic pivot toward diagnostics and ongoing expansion of CyPath Lung's market presence. In addition to financial and operational updates, bioAffinity reported progress in strengthening its intellectual property portfolio. During the quarter, the company received acceptance of a patent application from the Australian Patent Office for CyPath Lung. This development enhances the test's international commercialization potential and broadens BIAF's global IP footprint. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report bioAffinity Technologies, Inc. (BIAF): Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research
