Reported Earnings • May 11
First quarter 2026 earnings released: US$0.81 loss per share (vs US$4.91 loss in 1Q 2025) First quarter 2026 results: US$0.81 loss per share. Revenue: US$1.35m (down 27% from 1Q 2025). Net loss: US$3.63m (loss widened 37% from 1Q 2025). New Risk • Apr 28
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: US$9.93m This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-US$9.4m free cash flow). Share price has been highly volatile over the past 3 months (43% average weekly change). Earnings have declined by 15% per year over the past 5 years. Shareholders have been substantially diluted in the past year (over 6x increase in shares outstanding). Market cap is less than US$10m (US$9.93m market cap). Announcement • Apr 16
bioAffinity Technologies, Inc. Releases Clinical Case Study Demonstrating Cypath Lung Diagnostic Test Performance BioAffinity Technologies, Inc. released a new clinical case study illustrating how CyPath Lung, the Company’s noninvasive sputum-based diagnostic test, helped determine next steps for a high-risk patient with a suspicious pulmonary nodule where imaging and risk models suggested a high likelihood of cancer, but the physician suspected possible inflammation. Standard-of-care imaging and risk models indicated cancer after lung screening revealed 30-millimeter pulmonary nodule. CyPath® Lung test affirmed physician’s assessment that the nodule could be inflammation, not cancer; nodule resolved upon follow-up scan. Noninvasive CyPath® Lung performed with 92% sensitivity, 87% specificity and 88% accuracy for detecting lung cancer in more difficult to diagnose small nodules in a clinical trial of patients at high risk for lung cancer. The patient, a 70-year-old female with a 50 pack-year smoking history and smoking-related emphysema, presented with increased symptoms including cough, sputum production and shortness of breath. A low-dose CT scan identified a suspicious 30-millimeter (mm) lesion in the lower right lung with nearby enlarged lymph nodes, findings that can be associated with lung cancer. PET imaging suggested a high likelihood of malignancy. Lung cancer risk calculators estimated the probability of cancer as high on the Mayo and Herder models and intermediate on the Brock model. She received a negative result, ‘Unlikely Malignancy,’ which prompted another scan before we moved forward with the biopsy. A follow-up CT scan showed that the concerning 30-mm nodule had completely resolved, confirming the physician’s acumen that the abnormality was due to a reversible inflammatory process rather than lung cancer. This case highlights how CyPath Lung can assist physicians with pulmonary nodule management by helping physicians confidently defer unnecessary – and often risky – invasive procedures. This case study is illustrative of a single patient experience and does not establish generalized clinical utility. CyPath® Lung by bioAffinity Technologies is a noninvasive test designed to improve the early detection of lung cancer in patients at high risk for the disease. CyPath® Lung uses advanced flow cytometry and proprietary artificial intelligence (AI) to identify cell populations in patient sputum that indicate malignancy. CyPath® Lung incorporates a fluorescent porphyrin that is preferentially taken up by cancer and cancer-related cells. In a clinical trial of high-risk patients, CyPath® Lung demonstrated 92% sensitivity, 87% specificity and 88% accuracy in detecting lung cancer in patients at high risk for the disease who had small indeterminate lung nodules less than 20 millimeters. CyPath Lung is not intended for use as a sole diagnostic tool and should be considered alongside other clinical findings. CyPath Lung is marketed as a Laboratory Developed Test (LDT) by Precision Pathology Laboratory Services, a subsidiary of bioAffinity Technologies. LDTs are overseen under the Clinical Laboratory Improvement Amendments (CLIA), administered by the Centers for Medicare & Medicaid Services. 
