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Shares of bioAffinity Technologies Inc. (NASDAQ: BIAF) are trading higher Friday after the biotech company released case studies affirming the performance of one of its products. The Texas-based company builds non-invasive diagnostics for lung cancer.
What To Know: bioAffinity Technologies’s stock jumped almost 90% following the positive announcement, according to Benzinga Pro.
According to Gordon Downie, the company’s chief medical officer, the case studies were provided by a Texas doctor who had been using its CyPath Lung product for more than a year. In one of the cases, CyPath Lung helped detect lung cancer at its earliest and possibly curative stage. In the other two cases, CyPath Lung helped patients facing difficult healthcare choices to avoid risky invasive procedures.
“CyPath Lung enhances clinical decision-making by personalizing care and playing a critical role in refining the diagnostic pathway," Downie said.
The company’s stock has fallen 81% this year to date.
BIAF Price Action: bioAffinity Technologies’s stock was up 52.78% and trading at $5.21 at the time of publication, according to Benzinga Pro.
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Posted In: BIAF