Applied DNA Regains Compliance with Nasdaq Minimum Bid Price Requirement

Rhea-AI Summary

Applied DNA Sciences (NASDAQ:APDN) has successfully regained compliance with Nasdaq's minimum bid price requirement. The company, which specializes in PCR-based DNA technologies, received confirmation from Nasdaq's Listing Qualifications Department on April 7, 2025.

The company had previously fallen out of compliance on November 12, 2024, when it failed to maintain the required minimum bid price of $1.00 over 30 consecutive business days. To rectify this situation, APDN needed to maintain a closing bid price of at least $1.00 for a minimum of 10 consecutive business days.

The company exceeded this requirement by maintaining the minimum bid price for 16 consecutive business days, from March 14 through April 4, 2025. With this achievement, Nasdaq has confirmed the matter is now closed.

Positive

• Regained Nasdaq listing compliance, eliminating risk of delisting
• Demonstrated sustained share price recovery above $1.00 for 16 consecutive trading days

Negative

• Previously failed to maintain minimum bid requirement, indicating recent share price weakness

STONY BROOK, NY / ACCESS Newswire / April 8, 2025 / Applied DNA Sciences, Inc. (NASDAQ:APDN) (Applied DNA), a leader in PCR-based DNA technologies, today announced that on April 7, 2025, it received a notification letter from the Listing Qualifications Department of the Nasdaq Stock Market ("Nasdaq"), informing the Company that it has regained compliance with the minimum bid price requirement set forth in Nasdaq Listing Rule 5550(a)(2) (the "Minimum Bid Price Requirement").

As previously reported, the Company was notified on November 12, 2024, that its common stock failed to maintain a minimum bid price of $1.00 over the previous 30 consecutive business days as required by the Minimum Bid Price Requirement. To regain compliance with the Minimum Bid Price Requirement, the closing bid of the Company's common stock needed to be at least $1.00 for a minimum of 10 consecutive business days.

Nasdaq determined that for 16 consecutive business days, from March 14 through April 4, 2025, the closing bid price of the Company's common stock was $1.00 per share or greater. Accordingly, the Company has regained compliance with the Minimum Bid Price Requirement, and Nasdaq now considers this matter closed.

About Applied DNA Sciences

Applied DNA Sciences is a biotechnology company developing technologies to produce and detect deoxyribonucleic acid ("DNA"). Using the polymerase chain reaction ("PCR") to enable both the production and detection of DNA, the Company operates in two primary business markets: (i) the enzymatic manufacture of synthetic DNA for use in the production of nucleic acid-based therapeutics and the development and sale of a proprietary RNA polymerase ("RNAP") for use in the production of mRNA therapeutics; and (ii) the detection of DNA and RNA in molecular diagnostics and genetic testing services.

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Forward-Looking Statements

The statements made by Applied DNA in this press release may be "forward-looking" in nature within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995. Forward-looking statements describe Applied DNA's future plans, projections, strategies, and expectations, and are based on assumptions and involve a number of risks and uncertainties, many of which are beyond the control of Applied DNA. Actual results could differ materially from those projected due to its history of net losses, limited financial resources, the substantial doubt about its ability to continue as a going concern, the unknown future ability to meet all Nasdaq listing requirements, the unknown future demand for its biotherapeutics and diagnostic products and services, the unknown amount of revenues and profits that will result from its Linea IVT and/or LineaDNA platforms, the fact that there has never been clinical trial material and/or a commercial drug product produced utilizing the LineaDNA and/or Linea IVT platforms, the unknown amount of revenues and profits that will result from its TR8™ PGx or other diagnostic testing services, as well as various other factors detailed from time to time in Applied DNA's SEC reports and filings, including its Annual Report on Form 10-K filed on December 17, 2024, its Quarterly Report on Form 10-Q filed on February 13, 2025, and other reports it files with the SEC, which are available at www.sec.gov. Applied DNA undertakes no obligation to update publicly any forward-looking statements to reflect new information, events, or circumstances after the date hereof or to reflect the occurrence of unanticipated events, unless otherwise required by law.

Applied DNA Sciences Contact:

Investor Relations contact: Sanjay M. Hurry, 917-733-5573, sanjay.hurry@adnas.com

Web: adnas.com

SOURCE: Applied DNA Sciences, Inc.

View the original press release on ACCESS Newswire

FAQ

When did Applied DNA Sciences (APDN) regain Nasdaq compliance in 2025?

Applied DNA Sciences regained Nasdaq compliance on April 7, 2025, after maintaining a closing bid price of $1.00 or higher for 16 consecutive business days.

How long did APDN need to maintain $1.00 share price to regain Nasdaq compliance?

APDN needed to maintain a minimum $1.00 share price for at least 10 consecutive business days, but actually maintained it for 16 consecutive business days.

When did Applied DNA Sciences (APDN) initially fail to meet Nasdaq's minimum bid requirement?

APDN failed to meet Nasdaq's minimum bid requirement on November 12, 2024, when it couldn't maintain a $1.00 minimum bid price over 30 consecutive business days.

What is the minimum bid price requirement for Nasdaq listing that APDN had to meet?

According to Nasdaq Listing Rule 5550(a)(2), companies must maintain a minimum bid price of $1.00 per share to remain compliant.