bioAffinity reports Q3 2026 CyPath Lung growth, raises $8.0 million year to date
Unit sales doubled and testing revenue rose 79% through the first nine months of 2026, while the company advanced its lung cancer trial and new asthma/COPD and skin cancer research.
bioAffinity Technologies reported third quarter 2026 results on November 6, 2026, for the period ended September 30, 2026. CyPath Lung test unit sales increased 100% through the third quarter compared with the same nine-month period in 2025, and testing revenue for that nine-month stretch rose 79% to approximately $1.1 million.1 In July 2026 the company surpassed its full-year 2025 total of CyPath Lung reports delivered to physicians, ordering physicians grew 89% in the quarter versus a year earlier, and existing ordering physicians increased their test volume by 48% year over year.1
On the clinical side, the company's longitudinal trial evaluating CyPath Lung's clinical performance continued to advance, with 11 active clinical sites as of September 30, 2026, including nine VA and military medical centers that had begun enrolling patients.1 The trial is receiving support and funding from a research program focused on cancer at a military medical university.1
The company also expanded its government distribution reach through an agreement with AvMEDICAL, a Service-Disabled Veteran-Owned Small Business that distributes medical-surgical and laboratory products to government agencies including the Department of Veterans Affairs.1 Separately, bioAffinity announced a collaboration with Pictor, Inc. to support development of next-generation diagnostic tests aimed at characterizing lung inflammation in asthma and COPD patients.1 In patent news, the company received a Hong Kong patent grant in September covering CyPath Lung's flow cytometry and AI platform, and a Notice of Allowance from the Japan Patent Office in October for its lung cancer prediction method.1
On financing, bioAffinity raised $8.0 million in aggregate gross proceeds through an August 2026 private placement and an October 2026 registered direct offering with concurrent private placement, intended for working capital and general corporate purposes including CyPath Lung commercialization.1 Cash and cash equivalents stood at approximately $2.6 million as of September 30, 2026, down from $6.4 million at year-end 2025, though the company completed a financing after quarter-end that generated approximately $4.0 million in gross proceeds.1
Written by readthrough’s AI from the linked primary sources and fact-checked against them automatically before publishing. Not investment advice.