Cancer Detection

bioAffinity Technologies announced the completion of a public offering, generating $4.8 million in gross proceeds. The offering included shares of common stock and pre-funded warrants. WallachBeth Capital, LLC served as the placement agent. bioAffinity focuses on non-invasive cancer diagnostics, including CyPath® Lung, a Laboratory Developed Test for early lung cancer detection. The company addresses the growing precision diagnostics market with a focus on improving patient outcomes through early diagnosis. The announcement contains forward-looking statements subject to risks detailed in SEC filings.

bioAffinity Technologies (BIAF, BIAFW) secured financing through securities purchase agreements with investors, involving the sale of Series B Convertible Preferred Stock and warrants to purchase common stock in a private placement. They also reached a warrant exercise agreement, generating $253,000. These transactions aim to raise approximately $1.2 million for working capital and general corporate purposes, supporting the development and commercialization of their CyPath® Lung test, a non-invasive early lung cancer detection method with reported 92% sensitivity. WallachBeth Capital LLC acted as placement agent.

iKang Healthcare CEO Zhang Ligang’s recent remarks questioning the predictive capabilities of general health screenings have sparked controversy. Zhang stated that routine check-ups are opportunistic and cannot reliably predict specific future cancer diagnoses, citing the lack of reliable tumor markers for early kidney cancer detection. This viewpoint has been criticized, with some questioning the value of screenings. iKang has responded, claiming Zhang’s comments were selectively reported and his words were distorted, damaging the company’s reputation.