At home and then shipped to the lab, and then it also uses AI, so it's a very standardized test that's able to look at whether someone has a malignancy in the lung or does not.
Now, CyPath Lung was initially piloted in Texas. It's now expanding. Maria, elaborate, please, on that expansion strategy, especially what can we expect in the next 12 to 18 months?
You're right. We started in Texas. We decided to see in our own backyard how well we do. We did extremely well. Of course, Texas is a big backyard. We were very pleased to see the adoption and the test and how well year, excuse me, month after month, we were able to increase sales and adoption of the test. We recently were awarded listing on the Federal Supply Schedule, which allows us to sell to more than 1,300 different healthcare facilities for the U.S. military and the Veterans Administration. I think you will see us expanding into that national market and then into strategic markets as well next year.
Speaking of government, Maria, the Department of Defense has already purchased CyPath Lung for observational studies. What potential opportunities would this partnership open up?
We see continued expansion of our work with the Department of Defense, including the Veterans Administration and the military hospitals. Not only for research, as you mentioned, we do have a pivotal trial coming up next year for CyPath Lung going after a larger trial of 2,000 or more patients. Our national principal investigator will be Dr. Michael Morris of Pulmonology at Brooke Army Medical Center, which is the largest military hospital in the nation. So we look at expansion both from a research standpoint to look at moving CyPath Lung into more screening modality. And we also look at them as partners as we move forward for CyPath Lung as a test as it is now used for people who have pulmonary nodules and moving forward.
Turning now to the leadership of your great company, Maria. I just wanted to point out your company has 35% insider ownership, a very good number, indicating strong belief by the leaders in the future of your company. Introduce us to the whole team.
We have a very strong team of not only experienced individuals, but those who have taken to market tests like CyPath Lung. Our Chairman of the Board, Steve Girgenti, was the founder and developer, and indeed the head of what became Ogilvy Health, which was the largest health marketing company in the world. And so Steve is very much involved. But our other board members are equally experienced. Our Finance Chair, for example, Stuart Diamond, is the CFO of GroupM, which is a $50 billion company. So we have strong financial leadership. Talking about financial leadership, we have our CFO, Mike Edwards, just joined us. He had been very much involved with the company through its IPO. So I'm very happy to have Mike Edwards back, who has a strong background with public companies.
And of course, we have a strong science team headed now by Bill Bauta, who comes out of ILEX, Genzyme, J&J, very much focused on bringing new tests to market. And while we're on the topic, we have a great science team that is looking at additional tests. So it will not be just CyPath Lung we bring to market. We're looking at tests for COPD, for example, which is equally large as lung cancer, as a pulmonary disease needing help in early diagnosis.
All right, Maria, I'm going to put you on the spot here. Give us the essential value proposition. Why should investors take an interest in bioAffinity right now?
First and foremost, we have an excellent management team. We have an excellent science team. We have a very strong clinical team here at Precision Pathology, which is our subsidiary and laboratory. But I also believe we have a very strong future. You've seen continued and significant growth over this year with CyPath Lung and also with the overall lab. The consolidated company itself will meet. We're projecting to meet our very strong forecast for this year. And I think in addition to the strong team, the strong management, the strong, bright future, we also are bringing new things to market. So this is an innovative team that is not going to stand still. It's going to keep moving.
Maria, it's a great story. Very inspiring. Thank you for sharing it with us today.
Thank you very much. I very much enjoyed it.
To those of you just now joining, you've been watching a recording of an interview that RedChip recently did with Maria Zannes, the CEO of bioAffinity Technologies. This is the bioAffinity Technologies webinar. We're going to get started at 4:15 P.M. U.S. Eastern in less than four minutes. Maria, hello again.
Hello.
We'll do what we said, which is quarter after. We will press record. And I'll introduce you briefly and read out the safe harbor and then let you speak. Thank you.
Hello. This is Craig with RedChip Companies. Thank you for joining today's event with bioAffinity Technologies, which trades on the NASDAQ under the ticker BIAS. With us today, we have Maria Zannes, President and Chief Executive Officer of bioAffinity. We will begin with a brief presentation in a moment, and then Maria will answer your questions. Users may submit a question at any time by pushing the Q&A button at the bottom of the Zoom window. Before we begin, please allow me to read the safe harbor statement. This call may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements pertaining to future financial and/or operating results, along with other statements about the future expectations, beliefs, goals, plans, or prospects expressed by management, constitute forward-looking statements. Any statements that are not historical facts should also be considered forward-looking statements.
Of course, forward-looking statements involve risks and uncertainties. I now turn this webinar over to Maria. Please go ahead.
Thank you very much and good afternoon, everyone. I'm excited to speak with you today and discuss our plans for 2025, as well as review the success bioAffinity Technologies has enjoyed this year. BioAffinity Technologies addresses the critical need for early detection of cancer, and more specifically, its deadliest form, which is lung cancer. An estimated 18 million people in the U.S. are at high risk for lung cancer. The European Union and Asia, which are other areas in which bioAffinity holds patents, may have an even greater number of people who can benefit from our products. For example, there are an estimated 300 million smokers in China alone. Across the globe, early detection of lung cancer is vital, and it leads to longer, healthier lives.
Let me give you for a minute an example. In the U.S., the overall five-year survival rate for lung cancer is 28%. This is, in fact, up from 26% estimated for last year. But if lung cancer is caught in stage one and treated, the 10-year survival rate jumps to greater than 90%, 90%. So our non-invasive reimbursed test to detect early stage lung cancer, a test we call CyPath Lung, has shown high accuracy in detecting lung cancer. Our initial product to detect lung cancer, the one I'll focus on today, has a large market. In the U.S. alone, the lung cancer diagnostic market in 2024 was estimated at $4 billion, and it's expected to reach more than $7 billion by 2030.
I also want to emphasize, however, that we have a platform technology, and we are developing tests for the diagnosis of other lung diseases, such as chronic obstructive pulmonary disease. It's more commonly called COPD, and that affects an estimated 14 million Americans and has a similarly large diagnostic market globally. We count many successes in 2024 in this past year, including obtaining reimbursement for CyPath Lung, expanding our sales team with experienced salespeople who know the pulmonary market, obtaining access to the federal healthcare system, and streamlining operations. The acquisition of Precision Pathology Services in 2023 gave us control over lab operations and 100% of CyPath revenues. The work we have done in 2024 has given us the capacity, the capability, and the experience to expand operations to meet the growing demand for CyPath Lung as we strategically grow our sales efforts into other targeted areas in 2025.
This year's sales of CyPath Lung have shown that a growing number of physicians are recognizing the benefit. In 2024, we've had a record year in sales, and we look forward to continuing with record growth in 2025. This year, our wholly-owned subsidiary, Precision Pathology Services, is on track to report revenue of $9.4 million in 2024, more than 20% growth in annualized revenue compared to 2023, after accounting for the acquisition of Precision in September of 2023. The increase in revenue reflects greater than a 1,700% increase in sales of CyPath Lung through November 30th, over the same period last year. Looking to 2025, we will take advantage of our success this year in getting listed on the Federal Supply Schedule and making CyPath Lung now available to our veterans and active military across the country.
We are focused on key VA medical centers that screen, diagnose, and treat lung cancer. These 132 designated cancer centers across the U.S. have teams of pathologists, pulmonologists, and oncologists who can see the benefit of CyPath Lung for their patients, and I have to add, there are many benefits to CyPath Lung. CyPath Lung is patient-friendly, and it is very physician-focused. It's a test that provides for at-home collection, meaning there's no blood and no needles. Results are provided to physicians two to three days after a sample arrives at the lab. CyPath Lung is particularly good at detecting cancer or determining cancer is not present in people with small lung nodules, less than two centimeters or less than 20 millimeters.
The result of our clinical trial, which was published in the peer-reviewed journal Respiratory Research, reported that our test had a 92% sensitivity, which is the ability of a test to detect a true positive, and an 87% specificity, which is the ability of a test to detect a true negative. The results also showed a 99% negative predictive value for the test when used with individuals with pulmonary nodules less than two centimeters. CyPath Lung differentiates patients with cancer from those who are cancer-free using a technology called flow cytometry, which looks at populations of whole cells in a sputum sample that comes from the lung and then analyzes the data with our proprietary algorithm we built using machine learning. Machine learning is a form of AI that resulted for us in standardizing results and in high performance.
Simply put, CyPath Lung analyzes the cell populations in the lung microenvironment to determine if there is a malignancy present. Physicians tell us CyPath Lung is helpful with patients with small pulmonary nodules. These patients are often asked to just wait and see if the nodule that they find is going to grow. Or sometimes a physician may opt for a more invasive biopsy only to find that the nodule is benign. The uncertainty is stressful for both the physician and the patient, as you can imagine. CyPath Lung does not replace the tools a physician uses to find early cancer. It enhances and it adds to the toolbox and can bring more clarity on next steps for both physicians and their patients. Physicians are also very well aware of the cost to patients and the financial burden to healthcare of lung cancer.
In 2024, this year, we saw that CyPath Lung has the potential to make a significant positive difference. Earlier this year, two physicians published their findings after analyzing the impact that the use of CyPath Lung could have on the healthcare costs in this country. In their analysis, Dr. Michael Morris and Dr. Sheila Habib assumed that CyPath was part of the standard of care in 2022 for patients with small pulmonary nodules. They considered the cost of follow-up based on published data and the savings that would be found in adding CyPath Lung to the care pathway for patients on Medicare. Separately, they looked at the impact using CyPath Lung as part of the diagnostic pathway for patients with small pulmonary nodules who had private insurance. The results showed considerable savings for Medicare patients.
Using CyPath would have resulted in savings of more than $2,700 per medical patient, I'm sorry, Medicare patient, or nearly $370 million in total savings in 2022 to the U.S. healthcare system. And for those patients covered by private insurance, the study reported a savings of more than $6,400 per patient. That would have resulted in nearly $900 million in total savings to the healthcare system if our test had been used with patients in 2022 who had pulmonary nodules between 6 millimeters to less than 30 millimeters. Again, let me take one moment to tell you about the authors of this study. Dr. Michael J. Morris is with the Brooke Army Medical Center, the country's largest U.S. military hospital. Excuse me. He is a pulmonology and critical care physician, and he is the assistant dean of research at the San Antonio Uniformed Services Health Education Consortium. Dr. Sheila A.
Habib is director of the Pulmonary Lung Nodule Clinic and the Lung Cancer Screening Program at the South Texas Veterans Health Care System's Audie L. Murphy Memorial Veterans Hospital. This is one of our nation's largest VA hospital systems. These are physicians who recognize the importance of CyPath, and there are a growing number of physicians who similarly see the benefit in using our non-invasive test. In 2025, we will work with these physicians who are advocating on our behalf, and we will take what we have learned and how we have improved the physician and patient journey, and we will strategically expand our market.
Some of our investors on the call will remember that we made a decision to launch CyPath Lung in a limited market. In our case, we chose to launch in Texas, our own backyard. And as you know, I say, this is a very big backyard.
In fact, by our assessment, it is the fifth largest state in the U.S. for pulmonary practices. This approach has been a good one because it's provided us with the ability to evaluate the market, to hone our messaging, to build a sales team, and to improve operations. 2025 will be an expansion year. We look not only to enter the VA and military market, but also to expand into key regions where we have existing practices who came to us largely by word of mouth from other physicians. There are ordering physicians in 15 states who learned about CyPath Lung from a colleague or from a patient. We believe those are the practice areas worth expanding. But of course, we won't forget Texas. It offers further opportunities for growth, both increased use of tests with our existing clients and increasing our customer base.
Of course, we recognize that a larger market means a greater marketing effort. Marketing plays a critical role in sales. We established our brand with the help of Havas Health, and now we will be working with an equally well-respected, highly innovative marketing agency with an impressive pedigree in taking new products to market, particularly in the pulmonary space. In addition to increasing our sales team, in 2025, we look to hire a marketing director to add emphasis and to add the support needed to increase sales. In addition to expanding our sales efforts in 2025, we also expect to initiate our clinical study next year. We have reported that we intend to conduct a clinical trial that will be the basis for seeking clearance of CyPath Lung by the Food and Drug Administration, the FDA.
We expect to begin this larger clinical trial in 2025, and towards that end, we met this month with the FDA to discuss our trial design and the test's intended use, among other topics. We were encouraged by the meeting, and we will continue to work with the agency, and we will move forward. As part of the clinical trial effort, the National Association of Veterans' Research Foundations, it's called NAVREF, sent out a call for interest in our study to the VA, the entire VA research system. I'm proud to report that nearly 20 VA systems have responded so far, saying that they are interested in taking part in the study and are moving forward. These VA medical centers are in various stages of qualification, and it is important to understand that some may not be in the study for various reasons.
But we are encouraged by the response of these physicians who treat our veterans and the veteran population, and they see the need to advance CyPath Lung. In addition to the VA, we also have a number of large private and academic medical centers that are in the process of being qualified as collection sites. Our national principal investigator for this trial is Dr. Michael Morris of Brooke Army Medical Center, the doctor who I mentioned earlier and the author of the study. We expect several active military hospitals will be part of the site collection network, and along with the VA and academic and private medical centers, it's just a very exciting time and a very busy time for the company, and quite frankly, a very rewarding time to see the interest and the enthusiasm for CyPath Lung.
It may be helpful if just for a moment I step back to explain that CyPath Lung is, at this time, a laboratory-developed test. That means that CyPath Lung is sold by a single laboratory, in this case, our subsidiary Precision Pathology, and it is available only if ordered by a physician. The Centers for Medicare and Medicaid oversee LDTs, laboratory-developed tests, like CyPath Lung. And a newly promulgated rule by the FDA results in FDA having greater jurisdictions over LDTs. But I would note that our CyPath Lung test is grandfathered under the new rule. And I'm explaining this because the rules governing laboratory tests certainly can be confusing. And I also want to make clear that we will continue to market CyPath Lung as we move through the FDA process. I'm hoping that this explanation is helpful.
As proud as we are of our advancement of CyPath Lung, we are well aware of the potential for our flow cytometry-based technology. Our research team is led by Dr. William Bauta, who, during his time working for ILEX and Genzyme, played a key role in successfully bringing new medical products to market. We have decided in the near term to focus our research efforts in developing our test for COPD that would help identify patients early enough to take advantage of the new, very promising COPD therapies coming onto the market. In 2025, we also will build on our work with COPD and look at developing diagnostics for asthma. We view these tests, which are under development as possible companion offerings with CyPath Lung, our test for early lung cancer, that is going to go to the pulmonary marketplace.
BioAffinity Technologies was built on innovation, was built on a dedication and a belief that we can make a difference, both individually and collectively. We have a strong management team and a highly experienced board of directors who play a key role in our success. Our Executive Chairman, Steve Girgenti, is a veteran healthcare executive. He founded HealthWorld, which is a global healthcare marketing firm that, when he was running it, was one of the largest in the world. The Chairman of our Audit Committee, Stuart Diamond, is the global chief financial officer of GroupM, a media investment management group with over $60 billion in billings. Our Director, Dr. Jamie Platt, has been guiding teams in developing, validating, and commercializing more than 40 innovative high-complexity tests for the U.S. and the global firms.
She served as chief operating officer at PGDx, which was acquired by Labcorp, and Inivata, which was acquired by NeoGenomics for a combined value of nearly $1 billion. Our management team is equally strong. Our CFO, Michael Edwards, guided us through the IPO and recently rejoined the company. He has 30-plus years in corporate finance, including serving as CFO for both public and private companies. And I'm very proud to have him at my side. Our Chief Operating Officer, Xavier Reveles, brings more than 25 years of experience as a clinical geneticist skilled in the creation and the management of CLIA clinical laboratories, in coding and in reimbursement.
Our Chief Science Officer, who I mentioned, Bill Bauta, was responsible for the discovery, development, and the FDA approval of multiple products during his tenure at Genzyme and at ILEX, and has been the innovator and the inventor of several products for us. Our sales team is led by Dallas Coleman, who brings more than 15 years of experience in medical sales, where he succeeded in launching new products for Olympus Corporation of the Americas' Therapeutic Solutions Division. He worked primarily with pulmonologists, thoracic surgeons, and physicians treating patients with lung disease, and we see that he's brought his experience, his skill, and certainly his goodwill to BioAffinity. For me, I've spent more than 30 years in the C-suite in the medical, environmental, and energy fields.
I've had the honor of leading BioAffinity from a small startup of about three people to a public company with talented and experienced employees at every level. They are all committed to advancing CyPath Lung and its platform. But CyPath Lung is also a personal calling. My father, who was literally a rocket scientist, who was the one who pressed the button to launch America's first intercontinental ballistic missile, the Atlas, who was a dedicated World War II veteran, a father of three, and yes, a smoker, died of lung cancer at the age of 38. I am dedicated, as are the people who worked at bioAffinity Technologies, to bringing value to our shareholders by bringing diagnostics to market that help people live longer, healthier lives. It is our profession, but it is also personal.
On a personal note, I want to thank you for listening today and for learning more about our strong management team, our strong research team, our strong sales team, and all the others who are dedicated to bringing value to our shareholders. We are ready to execute on our plan in 2025 and beyond. We are ready to execute on a plan that can increase revenues, expand our market, advance new tests in our pipeline, and conduct our pivotal trial. We remain focused on bringing shareholder value by helping physicians give their patients better diagnostics so they can take advantage of more targeted, advanced care that can lead to longer, healthier lives. With that, I thank you for attending today, and I'm happy to take questions.
Thank you very much, Maria. Yes, we are now opening the webinar to your questions.
We have many people on today, so we're not going to be taking any spoken questions. Sorry about that, but you certainly can type in your question using the Q&A button at the bottom of your Zoom window. So please don't use the raise hand tool, just use the Q&A button there nearby and use the text box to submit your question. Maria, how large was the study that was completed showing the 96% positive detection rate, and could you give again the name of the company that conducted the trial?
So the trial was conducted by. I assume that they're talking about our trial that was in Respiratory Research, and that was conducted by bioAffinity Technologies. There was 150 patients in that trial. I believe that answers the question,
And I believe it does too, Maria. Thank you very much.
Sure. I would reference, if you are interested in reading the paper, which I think it's very interesting, of course, I would suggest that people go to our website, and you can look on publications and look for the Lemieux trial, and that will be there. It will be one of the top. There's quite a number of trials that we've done and research that we've published, but it is Lemieux. Madeline Lemieux is the lead author.
Thank you very much, Maria. How much cash does bioAffinity have on hand, and would you need to do a raise?
So in our most recent quarterly filing, we reported $2 million as of November 12, 2024. We really will be looking for taking, I think, best advantage of the market as we move forward.
Thanks, Maria. What is the outlook for achieving positive cash flow?
We're looking for the generating positive cash flow depends on a number of different factors. We're focused on driving sales for our first product, CyPath Lung, and to deliver value for our shareholders. We are a research and development company, so we're also looking at how we can develop that value by increasing the products and the commercial products on the market.
What is your burn rate?
In our most recent quarterly filing, we reported operations of about $5.6 million for the nine months that ended September 30th, and this equates to a cash used of about $600,000 per month.
How many CyPath Lung tests could you potentially sell next year?
We have not as yet come out with our forecast, but we soon will.
How many CyPath tests have been sold in 2024?
We have about $600,000 in revenues that we expect from CyPath Lung.
I have not reported the number yet. I'm hesitant to report something that is not already in the filing. So what I would suggest is that people look to our filings, our last quarterly filing.
Thank you very much for that, Maria. What level of volume can you handle with your current infrastructure? If you all of a sudden had thousands of tests to conduct in a short window, could you handle?
Yes, absolutely. I think that's one of the most important parts of having acquired Precision Pathology and this last year in expanding our laboratory, our abilities. So we do have that capability to do thousands of tests, yes.
What do you need to do to get FDA approval for CyPath?
So we will be conducting the pivotal trial that I had mentioned that I'm discussing, and I think someone had asked how long will that take.
We expect the clinical trial to last three years. We will be following our participants for up to two years. And so after that, we will go back to FDA with a submission, and they will review and determine the label, the intended use for CyPath Lung. But it doesn't stop us, and we see continued growth in sales as a laboratory-developed test as well. So we're very excited about that. I think that the opening of our VA market and the military market and the government market is very important. We were listed very quickly on that market. I mentioned in my talk how well we have been received when we talk about the larger trial and the use and the importance of CyPath Lung. We'll still be selling into that market as well.
I do believe that there will be continued growth for CyPath as a laboratory-developed test. Now, of course, the FDA designation, the clearance for FDA allows us to offer the test in different laboratories, and I think it would have the possibility of significantly increasing sales, not only in the U.S., but worldwide.
Maria, as you mentioned in your talk, beyond lung cancer, you're developing tests for COPD and asthma. Market's expected to reach $8.2 billion by 2027. How could successfully entering these adjacent markets multiply your total addressable market?
They certainly will multiply, and I can't say to what degree. I have not done that calculation, but I can tell you that COPD in particular is a growing market. For anyone following, there's a good number of new therapies coming on the market that I think will be very successful.
One of the advantages of a test like ours and a test for COPD is that it can identify more people who would be candidates for these therapies. Not that ours would be a precision medicine approach, but I think it would be more applicable for the therapies than it would just be applicable to the therapies. If we had a test when we have a test that can diagnose COPD such that people can get on these drugs early enough to really make a difference.
Maria, your high-margin CyPath Lung test contributed to improving gross margins to 38.7% in the third quarter of 2024. As test volume scale and you capture 100% of CyPath revenues, how high could margins expand?
I'm sorry. I really cannot comment on things that we have not yet put in file with the SEC that we haven't publicly disclosed.
CyPath, as you said in the interview, concentrated on Texas in 2024. Talk about how you're expanding to the entire USA, or are you just going to be targeting certain states? Thank you.
We're cognizant of the interest in different areas that I think would be strategically correct to go into. And so we want to very much target our marketing dollars and our salesforce in those areas. So we will be doing that. Saying that, we also have an opportunity with the entire country as it relates to the VA and to military, and that will be a broader reach. But we definitely will look in the more private or academic areas into very strategic areas.
With physician adoption growing 40% quarter over quarter from 100 to 140 offices, it seems that word of mouth is driving rapid expansion. Could this organic growth accelerate as more key opinion leaders experience the benefits firsthand?
Certainly, that's the case. And we have seen the importance of peer-to-peer marketing, so to speak, or peer-to-peer discussion. But I do believe that the emphasis we'll place next year on marketing and sales, the support we'll be able to give, and the additional work that we'll do in the marketing arena will help a lot. We have done a limited amount, I think a very effective amount of marketing in the Texas area. But as we go national, we're cognizant of the importance of marketing and of good branding and of the many ways that we can get into the market and get CyPath Lung known on a much larger scale. Are we near?
Yeah. Sounds fabulous. Thank you. The addition to the Federal Supply Schedule opens access to about 8,000 annual veteran lung cancer patients. As you mentioned, you mentioned the VA in your talk. With the VA promoting annual screening through programs like LPOP, could this become an even larger opportunity than initially projected?
We have not issued our forecast. We will be doing so for next year. There always is the opportunity for an upside, and we're looking at how to really capture that as we move forward.
How soon will the CyPath Lung test be available in Japan?
I think that is probably three, four, or more years off. We look to getting FDA, I think, approval before or at least clearance before we move into Japan or into Asia. It is a very large market, as is most of Asia.
Having lived in China myself, I can attest to the fact that they're still stuck in 1975 when it comes to smoking, and yes, 300 million people smoking.
Yeah, Europe and particularly China. China is one of the world's largest cigarette producers, and so it's a very significant market, and it has a very high rate of lung cancer, so we're cognizant of the importance. We're looking at China and Asia as an important market. I think it's important to point out too that we have strong patent portfolio, and we're expanding that portfolio, and as we move forward with some patents that are very specific and I think very important for CyPath Lung in protecting CyPath Lung. Certainly, we have strong patents now, but we're not standing on our laurels. We're continuing to move forward to make sure that we have a good, strong patent portfolio.
What percentage of revenue do you expect to get from the in-house lab?
I would reference, again, the most recent quarterly report and the third Q, and I think that would be helpful. I think, oh, go ahead.
Yes.
I see some.
No, no, no. We have so many questions, Maria, and we're just looking through them and carefully choosing them. And this may be a good time to tell everyone that there's just no way we're going to get through all of your questions. However, if your question was unanswered today, yeah, go ahead, Maria.
Can I suggest something, please? So I would suggest, if you might, to send me the questions or send RedChip the questions, and I'm happy to respond to all of them. I think that that might be a better use of our time in responding, and I can help by doing that.
Or, the other thing we can do is we can get the questions, and we can answer them, and you can look at RedChip. Either one would be fine, but I'm happy to answer all the questions.
Absolutely, Maria. And it's very simple. Even if you have had your question answered or think it will be answered in the next five minutes because we're going to wrap up at 5:00 P.M. Eastern, you can copy your question right now, paste it into an email, and send it to biaf@redchip.com. Perfect. Have you found a degree of continued tests being submitted by existing clients?
Oh, most certainly. We have several—we have more than several. Our clients, our physicians, are repeat in using the test.
So I think, I'm not sure if the questioner is asking, "Does one person use the test repeatedly, or does a physician order the test for a patient multiple times?" And the answer is yes, that can happen. This is a non-invasive test, and so physicians can use and order the test, for example, each time the person gets a low-dose CT. Sometimes with those smaller nodules that are 6-10, 6-15 millimeters, a physician will order CyPath Lung, and then thereafter he or she will order again in six months when they do another low-dose CT, when they do another imaging.
So one thing I think that is important about CyPath Lung is that it allows a physician to order a non-invasive test to give direction as to what to do next, and they can do it every three months, every six months, whatever the doctor feels appropriate for the patient. I think that's one of the reasons that we get interest, and one of the things that doctors like so much about and patients is the non-invasive nature of it. They also understand, believe it or not, sputum, which is what we use. So sputum is something that is often, people cough up when they're at high risk. Most of our patients are at high risk. We provide them with an Acapella also to assist in producing that sample.
So for a physician and for the patient, it's fairly easy to give that sample, and it's also fairly easy to do this repeatedly if indeed the physician says or deems it appropriate. But we certainly have with our clients and our doctors where they're giving us multiple samples. Multiple is not even the answer. With many samples in a week or a month or so forth.
Thanks, Maria. There are 12,000 lung doctors in the United States. If each one of them sent in a test a week, would that produce profitability?
Yes. But we don't need quite that much. But we are profitable in the sense that we are making profit. We have revenues, I should say. But certainly, the more revenues that we have, the quicker we will get to a cash-positive situation.
Maria, we are approaching the 5:00 P.M. Eastern hour.
As we said, we're not going to be able to get to everyone's questions, but we certainly value them all. Please copy and paste them into an email and send it to biaf@redchip.com. As Maria said, she will be happy to give you a personal answer to each of your questions. Maria, I'm just going to give the attendees a little bit more information about how to get even more information about BioAffinity. They can call us at RedChip. 1-800-REDCHIP is our number here. They can visit RedChip's investor information page for BioAffinity Technologies. It's biafinfo.com. There, you can sign up for news alerts on BioAffinity and view and download the investor presentation and fact sheet of BioAffinity. And a reminder that each one of you, by virtue of having signed up for today's webinar, also are opted in for our RedChip newsletter. You'll be receiving that once a week.
I hope you enjoy that, everyone. It's free to you. Please watch Small Stocks Big Money, RedChip's program featuring exciting small-cap companies every Saturday night at 7:00 P.M. Eastern on Bloomberg USA. Join RedChip's next webinar with Lobo EV on Wednesday, January 8th at 4:15 P.M. U.S. Eastern. Register for all RedChip webinars at redchip.com/events, where in a few hours, you'll also be able to view an archived version of today's BIAS webinar. Thanks once again to our many participants, and as always, thank you, Maria.
Thank you.