Hello, and good day to everyone joining the H.C. Wainwright 28th Annual Global Investment Conference, held on September 14th to 16th, 2026. My name is Charles Wallace, and I'm with the equity research team here at H.C. Wainwright. H.C. Wainwright is a full-service investment bank dedicated to providing corporate finance, strategic advisory, and related services to public and private companies across multiple sectors and regions.
We're proud to say more than 500 companies are registered for our conference across a range of sectors including life sciences, technology, crypto, metals and mining, and energy. Now it is my pleasure to welcome bioAffinity Technologies, ticker BIAF. bioAffinity is a biotechnology company focused on noninvasive diagnostics and early cancer detection. The company's first product, CyPath Lung, is a noninvasive test that has shown high sensitivity, specificity, and accuracy for detection in early lung cancer. From the company, I'm happy to introduce Maria Zannes, the President and CEO. Maria, the floor is yours.
Thank you very much. I want to start, please, by sharing my screen. I want to thank H.C. Wainwright for this opportunity to present bioAffinity Technologies. Our mission is to revolutionize diagnostics with proprietary AI analysis of flow cytometry data, which we've begun with the commercialization of a noninvasive, accurate test that detects early-stage lung cancer. Our Nasdaq symbol, as you said, is BIAF, and this presentation contains forward-looking statements. Therefore, I urge you to read our securities filings for additional information. Lung cancer is the leading cause of cancer deaths, both in the U.S. and around the world. There are more than 19 million Americans who are at high risk for lung cancer, and an equal or greater number of people who may not be at high risk for lung cancer, but whose CT scans show a lung nodule that may need follow-up.
In the EU, where we hold patents, there's an estimated 34 million people at high risk. In China, where we also hold multiple patents, more than 1 million people each year die from the disease. The lung cancer diagnostic market is growing, projected to reach $38 billion within the next eight years. More people die of lung cancer than other cancers because it is most often detected at later stage. Treatment of lung cancer continues to advance, to get better, to be more effective, and we see greater numbers of people being screened for lung cancer each year. But the fact remains that lung cancer is most often diagnosed at later stage. The disease itself has an overall 30% five-year survival rate. But this is important.
If it's caught at Stage 1A and treated, if it's caught early, that treatment can be curative, and studies report that lung cancer patients have a greater than 90% chance of living 10 years or more with early detection. Indeed, early detection of lung cancer saves lives. CyPath Lung is a noninvasive test that is reimbursed by Medicare and most private insurance. Patients collect their sample at home and test performance is excellent. 92% sensitivity, 87% specificity, with a 99% negative predictive value in patients with small pulmonary nodules, those nodules that need further follow-up and care. We use an AI-driven algorithm to detect lung cancer by profiling the lung microenvironment. We analyze sputum, that phlegm that bathes your lungs, including bathing tumors that shed cells if they're present. By analyzing those populations, those cell populations, we can distinguish patients who have lung cancer from those who do not.
CyPath Lung really is being embraced by physicians. Unit sales increased 216% year-over-year in the second quarter of 2026 as compared to the second quarter of last year. Our numbers reflect accelerating physician adoption and expanding clinical use. Equally important, doctors who use the test are using it more frequently over time and seeing the utility as they incorporate CyPath Lung into their practice. Ours is a platform technology, and we are using that platform to develop new tests that advance personalized medicine with treating asthma and chronic obstructive pulmonary disease, or COPD. Both asthma and COPD, I will add, are multi-billion dollar markets. But numbers don't tell the whole story. They tell some of the story, but not all of it. People really do.
We've published more than a dozen case studies from physicians who tell their stories of patients who benefited from CyPath Lung. In the first two cases on this slide, other diagnostic tests, including PET scans and bronchoscopy and other blood tests, they failed where CyPath Lung succeeded in detecting lung cancer at its earliest stage.