---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-23-017087"
form_type: "8-K"
ticker: "BIAF"
cik: "0001712762"
company_name: "bioAffinity Technologies, Inc."
filed_at: "2023-05-15T23:59:59+00:00"
generated_at: "2026-06-15T01:18:42.002933+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# bioAffinity Q1 net loss $1.5M; cash $9.8M; names new CFO

## Summary
- Revenue of $1,000 from CyPath Lung royalties; no revenue in prior-year period.
- Net loss of $1.5M ($0.18 per share) unchanged YoY; SG&A rose to $1.2M from $395k.
- Cash and cash equivalents $9.8M at March 31, 2023; expects to fund operations for at least 12 months.
- Appointed Michael Dougherty as CFO, most recently CFO of Amazon's Alexa commercial domains.
- U.S. patent allowance for porphyrin cancer treatment compounds through OncoSelect Therapeutics.

## SEC filing metadata
- accession: 0001493152-23-017087
- form_type: 8-K
- ticker: BIAF
- cik: 0001712762
- company_name: bioAffinity Technologies, Inc.
- filed_at: 2023-05-15T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1712762/000149315223017087/0001493152-23-017087-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1712762/000149315223017087/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-23-017087
- JSON: https://secwatch.observer/filing/0001493152-23-017087.json
- Plain text: https://secwatch.observer/filing/0001493152-23-017087.txt

## Key facts
- Earnings Releases
  bioAffinity Technologies, Inc. reported the three months ended March 31, 2023 results: revenue $1,000, net income $1.5 million, EPS $0.18 per share.
  - Period: the three months ended March 31, 2023
  - Revenue: $1,000
  - Net income: $1.5 million
  - EPS: $0.18 per share
  - Result: reported results
  source text: Revenue for the first quarter of 2023 was $1,000, compared with no revenue for the prior-year period. Revenue is currently generated exclusively from royalties from the Company’s licensee, Precision Pathology Services, from sales of CyPath ® Lung as a laboratory developed test. Research and development expenses were $370,000 for the first quarter of 2023, compared with $280,000 for the comparable period in 2022. The increase was primarily due to higher compensation costs from adding research personnel and higher R&D equipment costs. Clinical development expenses were $20,000 for the first quarter of 2023, compared with $53,000 for the first quarter of 2022. The decline was primarily attributed to lower professional fees related to clinical strategy evaluation as the Company prepares to launch the CyPath ® Lung pivotal trial. Selling, general and administrative expenses were $1.2 million for the first quarter of 2023, compared with $395,000 for the comparable period in 2022. The increas
  evidence_url: https://www.sec.gov/Archives/edgar/data/1712762/000149315223017087/0001493152-23-017087-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.