bioAffinity Technologies, Inc. announced on March 6, 2025, targeted strategic actions aimed at improving financial performance and accelerating the commercial growth of CyPath® Lung. The company expects these measures to deliver approximately $4 million in annual cost savings at its subsidiary, Precision Pathology Laboratory Services (PPLS).
The cost savings are anticipated through labor cost reductions, operational efficiency enhancements, and a focus on high-margin services. While these actions are expected to result in a decrease in overall revenue, they are also projected to improve profitability at the PPLS subsidiary.
Concurrently, bioAffinity Technologies is increasing resources to expand CyPath® Lung sales in high-potential national markets. The company plans to launch a focused government marketing program in the next quarter to introduce the test to Veterans Administration and Department of Defense medical centers, leveraging its recent Federal Supply Schedule contract.
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