Applied DNA Sciences, Inc. - APDN STOCK NEWS

Applied DNA Sciences (NASDAQ: APDN) announced that its subsidiary, Applied DNA Clinical Labs (ADCL), will deploy the Linea 1.0 COVID-19 Assay to identify BA.2 subvariant mutations in positive samples. This assay enhances genomic surveillance, allowing public health officials to detect BA.2's spread efficiently compared to traditional methods. BA.2, first identified in November 2021, is increasingly prevalent, found in over 50 countries and noted to be 1.5 times more infectious than BA.1. The deployment could increase testing demand and provide crucial data for managing the pandemic.

Applied DNA Sciences (NASDAQ: APDN) announced that its subsidiary, Applied DNA Clinical Labs, submitted a request to the FDA for Emergency Use Authorization for its Linea 2.0 COVID-19 Assay and Unsupervised At-Home Sample Collection Kit. If approved, this will expand its safeCircle COVID-19 testing platform nationally, aimed at minimizing workforce disruptions caused by COVID-19 spread. The Linea 2.0 Assay is variant agnostic and can detect all known SARS-CoV-2 variants, with results typically available within 24 to 48 hours.

Applied DNA Sciences, Inc. (NASDAQ: APDN) reports over a 90% increase in COVID-19 testing levels for the quarter ending December 31, 2021, compared to the prior quarter. This growth is attributed to new safeCircle™ clients and increased demand from existing clients for managed testing solutions. The company secured a subcontract for community-based pop-up testing services. CEO Dr. James A. Hayward states a focus on long-term market sectors and mentions plans to file for Emergency Use Authorization (EUA) for their Linea™ 2.0 COVID-19 Assay.

Applied DNA Sciences (NASDAQ: APDN) announced that its clinical lab, Applied DNA Clinical Labs (ADCL), has received conditional approval from the New York State Department of Health for its Linea 2.0 Assay for COVID-19 testing. The assay can be used for individual and pooled testing. Additionally, ADCL plans to file a request for Emergency Use Authorization (EUA) with the FDA for the assay and a new at-home sample collection kit, expanding its testing services beyond New York. The Linea 2.0 Assay targets SARS-CoV-2 genes and boasts enhanced performance over the previous version.

Applied DNA Sciences (NASDAQ: APDN) has signed a Memorandum of Understanding (MoU) with Stratum Reservoir's Isotech division to enhance cotton traceability using isotopic analysis (IA). This partnership aims to integrate IA as a confirmatory assay within Applied DNA's CertainT® platform, ensuring the authenticity of cotton fiber origins. This collaboration follows a presentation at an AAFA event detailing the successful identification of Egyptian cotton origins. Both companies are also working on a global database for cotton samples to support business development opportunities.

Applied DNA Sciences (NASDAQ: APDN) reported a remarkable year-over-year revenue growth of 868% in FQ4, reaching $3.0 million, and record full-year revenues of $9.0 million, a 367% increase over the previous fiscal year. The growth is attributed to its entry into the COVID-19 testing market, particularly through its clinical lab subsidiary, ADCL. However, the company also faced a net loss of $4.5 million in FQ4 and $14.3 million for the fiscal year. Revenues from clinical services and product sales were key growth drivers.

Applied DNA Sciences (NASDAQ: APDN) is advancing its cotton genomics program, enabling forensic proof of cotton authenticity, particularly for Egyptian Giza 94 cotton. At a recent American Apparel event, the company showcased a methodology using genomics and isotopic analysis to ascertain the origin of cotton. They filed a provisional patent for a biomarker unique to Giza 94, which was confirmed through collaboration with Isotech Laboratories. This geoTyping™ assay could revolutionize supply chain traceability in the textile industry, addressing past issues of mislabeling.

Applied DNA Sciences, Inc. (NASDAQ: APDN) will release its fourth quarter and full fiscal year 2021 financial results on December 9, 2021, after market close. A conference call is scheduled for 4:30 p.m. ET that same day, where management will discuss the results. The company specializes in PCR-based DNA manufacturing and has developed the LinearDNA platform for diverse applications, including diagnostics and drug development. For more information, visit adnas.com.

Flora Growth Corp. (NASDAQ: FLGC) has signed a licensing agreement with Tonino Lamborghini to produce and distribute luxury cannabis beverages, focusing on North America and Colombia. The product line will feature CBD and CBG and utilize Applied DNA Sciences' molecular tagging technology for product verification. The market for CBD products is expected to grow to $20 billion by 2024, with beverages being a key segment. The first product launch is scheduled for Q1 2022, which aligns with Flora's strategy to expand its brand portfolio.