Financial Performance - Generated quarterly revenue of 298,000 in the prior-year period [6] - Net loss for Q3 2024 was 2.3 million in Q3 2023 [10] - Net revenue for September 2024 reached 298,484 in September 2023, representing a growth of approximately 687% [15] - The net loss for September 2024 was 2,290,884 in September 2023, showing an improvement of approximately 13% [15] - The company reported a net loss per common share of (0.26) in September 2023 [15] Growth Metrics - Achieved over 1,300% growth rate for CyPath Lung orders in the first nine months of 2024 compared to the full-year 2023 [2] - Number of physician offices signed increased by 75% over Q2 2024, indicating strong potential for future sales growth [2] - CyPath Lung was added to the U.S. Federal Supply Schedule, providing access to 1,380 government healthcare facilities for high-risk veterans [2] Expenses - Research and development expenses were 330,000 in the same period of 2023 [7] - Selling, general and administrative expenses rose to 2.0 million in Q3 2023 [9] - Total operating expenses for the quarter were 2,592,988 in the same quarter last year, indicating an increase of about 67% [15] - Research and development expenses decreased to 330,376 year-over-year, reflecting a reduction of about 17% [15] - Selling, general and administrative expenses rose to 2,023,917, marking an increase of approximately 17% [15] - Clinical development expenses decreased to 106,422, reflecting a reduction of about 12% [15] Cash and Assets - Cash and cash equivalents decreased to 2.8 million at the end of 2023 [11] - Total assets decreased to 8.22 million at the end of 2023 [14] Financing Activities - Successfully closed a 2,228 from (24,417) compared to $5,914 in the previous year, indicating a negative shift of approximately 514% [15] Shareholder Metrics - The weighted average common shares outstanding increased to 12,391,867 from 8,696,554, representing a growth of about 42% [15]
bioAffinity Technologies(BIAF) - 2024 Q3 - Quarterly Results