The shares of bioAffinity Technologies Inc. (NASDAQ: BIAF) rose 36.96% to $5.67 on Wednesday after the company announced the publication of its research. At the end of the previous trading session, the stock of BIAF closed at $4.14. Its shares ranged between $4.06 and $4.56.
BIAF has announced which publication?
Today, bioAffinity Technologies (BIAF) announced the publication of its sputum flow cytometry research. Sputum analysis by flow cytometry; an effective platform to analyze the lung environment; published in PLOS ONE, reported results of high-throughput diagnostic tests to determine the health of the lungs based on sputum analysis by flow cytometry.
- As a result of the PLOS ONE article, BIAF was able to present its unique method for detecting lung disease among individuals.
- By using flow cytometry, it is possible to analyze whole cells and populations of cells that make up the lung environment.
- Research conducted by BIAF has allowed it to better understand how the disease affects the lungs and how flow cytometry can be used to diagnose lung diseases.
- It is possible to diagnose blood cancer, especially at an early stage, with flow cytometry.
- An innovative and highly efficient method of analyzing sputum for lung cancer is described in the paper, which could be used to analyze other diseases such as COPD and asthma as well.
What else BIAF has been developing?
In addition to developing non-invasive cancer diagnostics and targeted cancer treatment, bioAffinity Technologies addresses the need for early-stage cancer diagnosis and lung disease treatment. With proprietary noninvasive diagnostic tests developed by BIAF, cancer cells and cells indicative of disease can be identified by using technology that preferentially targets cancer cells. CyPath Lung, the company’s first product, is a non-invasive test that can detect early-stage lung cancer with high sensitivity and specificity. In this case, Precision Pathology Services is marketing the test as a Laboratory Developed Test (LDT). At The University of Texas at San Antonio, the Company’s platform technologies are researched and optimized.
What happened recently?
bioAffinity Technologies (BIAF) recently announced the successful completion of its previously announced initial public offering (IPO) of 1,282,600 shares. In the offering, one share of common stock and one warrant for the purchase of one share of common stock was sold for $7.35 each. In addition, it provided a non-tradable warrant for the purchase of one share of common stock at an exercise price of $7.656 per share. The IPO of BIAF generated approximately $7.8 million in gross proceeds.