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Stock impact report

bioAffinity Technologies Reports Fourth Quarter and Full Year 2023 Financial Results

bioAffinity Technologies, Inc. (BIAF) 
Company Research Source: Business Wire
SAN ANTONIO--(BUSINESS WIRE)--bioAffinity Technologies, Inc. (Nasdaq: BIAF; BIAFW), a biotechnology company focused on commercializing noninvasive tests for the detection of early-stage cancer and lung disease, today reported financial results for the three and 12 months ended December 31, 2023.Fiscal Year 2023 and Recent HighlightsReported fiscal year 2023 revenue of $2.5 million, a significant increase from $5,000 in 2022, driven by the September 2023 acquisition of Precision Pathology Laboratory Services (PPLS) and increasing sales of CyPath® Lung, the Company’s noninvasive test to detect early-stage lung cancer.Reported accelerating growth of 350% in CyPath® Lung tests ordered and processed in Q1 2024 as compared to Q4 2023, exceeding the Company’s targeted sales forecast for the quarter. The Company continues with its limited market launch in Texas to refine future positioning and strategic insight for CyPath® Lung in preparation for expanding to the national market.Achieved Show less Read more
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