BioAffinity Technologies Inc BIAF shares are trading higher by 80.18% to $3.82 during Wednesday's trading session after the company announced it received an additional $7.7 million from the exercise of warrants.
BioAffinity Technologies says the company intends to use the proceeds from the offering to expand existing operations and the commercialization of CyPath® Lung, a noninvasive test for the early detection of lung cancer which uses flow cytometry to count and characterize cells in a person's sputum, or phlegm.
Proceeds may also be used in the company's pursuit of regulatory approvals and research and development of additional diagnostics, cancer therapeutics, and for working capital and general corporate purposes.
According to data from Benzinga Pro, BioAffinity Technologies has a 52-week high of $15.55 and a 52-week low of $2.02.
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