bioAffinity Technologies Inc (NASDAQ: BIAF) shares surged by 73 per cent during the session on Monday, Mar. 23.
Traders drove the small-cap biotech stock sharply higher after the company released its latest business update more than a week prior. No single dramatic event sparked the rally. Instead, investors rode a wave of building momentum tied to steady commercial gains and clear plans for 2026 growth.
The upbeat report, released on Mar. 13, capped months of positive news. bioAffinity posted strong 2025 results and laid out aggressive targets for next year. Testing revenue jumped 87 per cent year-over-year while the number of CyPath Lung tests performed rose 99 per cent.
In 2025, leaders ditched unprofitable pathology side services to focus fully on their flagship diagnostic tool. bioAffinity uses a method of detecting lung cancer that employs flow cytometry analysis of sputum/phlegm.
This move, plus promises of more than 100 per cent unit-sales growth in 2026 and a bigger sales team reaching more doctors nationwide, appear to have convinced traders that the company now sits on the cusp of significant growth.
Read more: Breath Diagnostics advances pre-op pneumonia screening with FDA breakthrough designation
CyPath Lung milestone of note
Investors became increasingly intrigued by the company earlier this month when bioAffinity launched a major 2,000-patient longitudinal study to prove how well its non-invasive CyPath Lung test can catch early cancer.
The trial targets high-risk people with suspicious lung nodules between 6 and 30 millimetres. Patients stay in the study up to 24 months or until doctors confirm or rule out cancer. Up to 20 sites will take part, including about 12 Veterans Affairs medical centres and two large military hospitals.
Earlier trials have already delivered impressive results, showing 92 per cent sensitivity and 87 per cent specificity for small nodules with 88 per cent overall accuracy.
Chief Medical Officer Gordon Downie has explained that the test fills the dangerous gap between “watchful waiting” and invasive, potentially risky biopsies.
This step signals substantial progress and has evidently contributed to the stock’s recent momentum.
Lung cancer breath tests also gain traction
This tailwind behind bioAffinity has been hitting the broader lung cancer screening sector as non-invasive diagnostic tools become popular. Developers are racing to deliver fast, needle-free tests that spot cancer early without radiation or labs.
In Minnesota, Vocxi Health and Forj Medical just turned their MyBreathPrint device into a handheld tool the size of a deck of cards. Teams ran more than 1,500 tests and finished an initial run of 500 production units. Patients simply exhale for 60 seconds. The device then analyzes volatile organic compounds and delivers results in minutes.
Meanwhile, Breath Diagnostics recently earned high praise from renowned medtech research firm Life Science Intelligence. Its OneBreath system landed in the organization’s 2025 Emerging Innovators Report. This lung cancer breath test provides highly accurate results.
A bullish outlook among many about the addressable lung cancer screening market, estimated to be worth over US$63 billion, has been propelling companies in the sector and driving shares higher.
Read more: Prestigious medtech intelligence firm recognizes Breath Diagnostics for innovation
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