Applied DNA Sciences, Inc. - APDN STOCK NEWS

Applied DNA Sciences (NASDAQ: APDN) announced a contract with Suffolk County Community College to implement its safeCircle™ COVID-19 testing program among unvaccinated staff and faculty. The contract, starting in late September 2021, allows for a one-year term with two optional renewals. ADCL will utilize its Linea™ COVID-19 Assay Kit for testing, enhancing virus mitigation strategies on campus. The safeCircle program is designed for high-throughput, pooled testing and is aligned with SUNY's vaccination mandate.

Applied DNA Sciences reported a 294% revenue growth in Q3 2021, reaching $1.7 million, driven by their safeCircle COVID-19 testing program and product sales, particularly the Linea Assay Kit. However, revenues decreased by 36% from the previous quarter. Total operating expenses rose to $4.5 million, leading to a net loss of $3.5 million or $0.46 per share. The company is optimistic about a new COVID-19 testing services contract and the potential EUA for their Linea Mutation Panel. Cash reserves improved to $12.2 million.

Applied DNA Sciences (NASDAQ: APDN) announced it will release its fiscal 2021 third quarter financial results on August 12, 2021, after market close. A conference call and webcast will follow at 4:30 p.m. EDT, where the management team will discuss the results. Participants may access the conference via dial-in numbers provided in the announcement, with a replay available for one week post-call. The company focuses on PCR-based DNA manufacturing and nucleic acid technologies, with applications in diagnostics and drug development.

Applied DNA Sciences (NASDAQ: APDN) announced a COVID-19 testing contract with the City University of New York (CUNY) valued at up to $35 million over 12 months. Its subsidiary, Applied DNA Clinical Labs, will implement the safeCircle™ testing program for weekly asymptomatic screening of students, staff, and faculty. Testing, projected at 20,000 to 65,000 weekly, starts in August 2021, enhancing safety before in-person classes resume. The company is also set to report Q3 financial results on August 12, 2021.

Applied DNA Sciences, Inc. (NASDAQ: APDN) and American & Efird (A&E) have announced the launch of A&E's INTEGRITY™ ECO100, a sustainable and secure sewing thread that integrates Applied DNA's CertainT® technology. This innovative product is made from 100% recycled fibers and allows brands to authenticate and validate their products throughout the supply chain. Celebrity designer Sara Caverley will utilize this thread in her footwear line, enhancing supply chain security. The collaboration aims to address the growing concerns of counterfeiting and ensure sustainability within the textile industry.

Applied DNA Sciences (NASDAQ: APDN) and Evvivax announced results from a study involving 11 vaccinated felines with their LinearDNA™ COVID-19 vaccine candidate. The study indicated neutralizing antibody production against SARS-CoV-2 variants B.1.1.7, P1, and B.1.526. While titers against B.1.1.7 showed no significant impact, reductions against P1 and B.1.526 were consistent with CDC data. The Company remains optimistic about the vaccine's effectiveness. A trial with mink is set to begin in August to further assess the vaccine's protective capabilities.

Applied DNA Sciences (NASDAQ: APDN) announced a contract with Camp Chateaugay for its safeCircle™ pooled COVID-19 surveillance testing. This contract emphasizes the company's focus on COVID-19 testing in niche markets, supporting the reopening of summer camps while minimizing virus spread. Testing will be conducted prior to and during the camp sessions using PCR technology, offering results within 24 hours. The success of this initiative could enhance Applied DNA's market presence in the public health sector as schools and camps seek reliable testing solutions.

Applied DNA Sciences (NASDAQ: APDN) has announced the successful technical validation of all seven Research Use Only (RUO) mutation detection assays in its Linea™ COVID-19 Selective Genomic Surveillance™ (SGS) Mutation Panel. Tested on 125 COVID-19 positive samples with 100% concordance against Whole Genome Sequencing results, the SGS Panel targets mutations designated as ‘Substitutions of Therapeutic Concern’ by the CDC. The Company plans to seek EUA-authorization for the panel, which is designed to enhance variant surveillance in the context of rising COVID-19 variants.

Applied DNA Sciences, Inc. (NASDAQ: APDN) clarifies its newly authorized asymptomatic serial screening indication for the Linea COVID-19 Assay Kit. While individual patients do not need personal prescriptions, a blanket prescription from a healthcare provider is required. The company’s subsidiary, Applied DNA Clinical Laboratories, will assist clients in obtaining these prescriptions to comply with regulatory standards. The Linea Assay Kit is not FDA approved but authorized for emergency use in specific testing conditions.