SAN ANTONIO, September 1, 2026, 10:30 EDT — bioAffinity stock leapt 45% after the company announced news regarding its CyPath product, with trading volume soaring to 56 times the number of shares outstanding.
- bioAffinity shares rose 45.3% to $6.63, after reaching a high of $8.60.
- Trading volume totaled 33.2 million shares, representing 56 times the basic share count on August 24.
- There is no independent validation for CyPath Lung’s suggested use in surveillance.
Shares of bioAffinity Technologies NASDAQ:BIAF jumped 45.3% to $6.63 as of 10:30 EDT after a new surveillance application was proposed for its CyPath Lung test. The stock rose as high as $8.60 before giving up much of its initial rally Yahoo Finance.
Turnover gave a clearer indication. In the opening hour, around 33.2 million shares were traded, representing 56 times the 592,373 basic shares disclosed following the reverse split in August.
The company stated that CyPath Lung may be useful in tracking patients following curative treatment for lung cancer, and would serve as an additional tool alongside scans if new nodules are detected. Still, its published detection results have not been independently confirmed for monitoring after treatment company release.
BIAF’s opening surge faded within an hour
As of . Source: Yahoo Finance. The high marker uses the session high; the line uses sampled minute closes.
The target market represents significant potential for a microcap company. In early 2025, over 680,000 Americans had previously been diagnosed with lung cancer. Follow-up scans are typically performed every six months throughout the initial two-year period.
Chief Executive Maria Zannes stated that surveillance “could lead to earlier intervention.” She described it as a possible addition to early detection. The company did not provide updated pricing, orders or revenue forecasts.
Commercial activity grew faster than total revenue
Year-over-year changes reported for the second quarter or first half of 2026.
Source: bioAffinity second-quarter results, August 7, 2026. Bars are scaled to the largest reported growth rate.
Revenue for the second quarter increased by 19% to $1.51 million. Direct costs totaled $1.09 million, resulting in $423,000 prior to research and overhead expenses. Operating expenses stood at $4.85 million, and the company reported a net loss of $3.37 million SEC filing.
CyPath generated approximately $835,000 in testing revenue over the first half, issuing 1,097 reports in that timeframe. While these figures demonstrate uptake, the company is still operating far below its break-even threshold.
As of June 30, cash totaled $2.43 million. In August, bioAffinity secured approximately $4 million in gross proceeds via pre-funded warrants. This funding round came before a one-for-15 reverse stock split to meet Nasdaq listing requirements.
Financing can reshape a very small share base
Post-split common equivalents, rounded to the nearest thousand.
Sources: August 14 financing and August 24 reverse split. Warrant counts are mathematical post-split equivalents and ignore fractional rounding; exercise is not assumed.
The funding round comprised approximately 564,000 pre-funded equivalents post-split. Additionally, it featured close to 1.13 million warrants, also adjusted for the split. Exercising all instruments in full could bring the total common-equivalent count to around 2.28 million, pending required approvals and applicable terms.
With a basic equity value of approximately $3.92 million at $6.63, this figure does not include warrant proceeds or potential dilution. This highlights how even small increases in orders can cause significant moves in the share price.
CyPath’s detection study showed a sensitivity of 92% and a negative predictive value of 99%. The findings relate to high-risk individuals with small lung nodules and do not indicate performance in recurrence surveillance.
The next hurdle for investors is commercial validation. Surveillance-focused proof, physician orders turned into sales, and revenue increasing faster than expenses are what investors require. Tuesday’s price surge drew notice, but did not provide that proof.
Risks: bioAffinity is still operating at a loss and might require further funding. Surveillance effectiveness has yet to be proven, uptake may be slow, and warrant exercises have the potential to dilute investors. Low-volume trading could see sharp reversals.
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