Applied Dna Scie - APDN STOCK NEWS

Applied DNA Sciences (NASDAQ: APDN) announced the issuance of United States Patent No. 10,920,274 for methods of authenticating objects using nucleic acid-coated submicron particles. The patent enhances the company's strong intellectual property portfolio, which now includes 92 issued patents and 40 pending applications. Dr. James Hayward, President and CEO, emphasized the patent's importance for their CertainT® platform in combating counterfeit pharmaceuticals and nutraceuticals. Applied DNA continues to focus on their LinearDNA™ platform across various markets, including diagnostics and anti-counterfeiting.

Applied DNA Sciences (NASDAQ: APDN) will provide weekly COVID-19 surveillance testing for LIM College students, faculty, and staff as they resume in-person classes starting February 22, 2021. The testing will use the safeCircle™ program and the FDA-authorized Linea™ COVID-19 Assay Kit, which can detect certain SARS-CoV-2 variants. The Company emphasizes that this program offers an efficient solution for maintaining health and safety in educational environments.

Applied DNA Sciences reported a 155% revenue increase to $1.6 million for Q1 2021, driven by demand for its COVID-19 testing services, particularly safeCircle™ and the Assay Kit. The company anticipates continued growth due to new client acquisitions and ongoing orders. However, operating expenses rose to $4.3 million, primarily due to increased payroll and stock-based compensation. The net loss applicable to common stockholders was $4.8 million, or $0.88 per share. As of January 31, 2021, cash and equivalents were approximately $16.5 million following a registered direct offering.

Applied DNA Sciences (NASDAQ: APDN) and Cytocheck Laboratory reported the first identification of the SARS-CoV-2 UK variant (B.1.1.7) in Kansas on February 3, 2021. The identification utilized Applied DNA's Linea™ COVID-19 Assay Kit, which screens for specific mutations associated with increased transmissibility. This advancement highlights a growing need for genomic surveillance in the U.S. to monitor variant spread effectively. The assay kit enhances the testing workflow of Cytocheck, which services multiple states, signaling its potential impact on public health responses.

Applied DNA Sciences, Inc. (NASDAQ: APDN) will announce its fiscal 2021 first quarter financial results on February 11, 2021, after the market closes. A conference call and webcast led by CEO Dr. James A. Hayward, CFO Beth Jantzen, and COO Judith Murrah will follow at 4:30 p.m. ET. The webcast and PowerPoint presentation will be accessible on the company’s website and archived for future viewing. The company specializes in molecular technologies for supply chain security, anti-counterfeiting, and product genotyping.

Applied DNA Sciences (NASDAQ: APDN) has announced the qualification of a lyophilized form of its LinearDNA™ COVID-19 vaccine candidate for feline clinical trials. This freeze-dried formulation enhances shelf stability and simplifies global shipping. The company has manufactured and shipped samples to EvviVax for final preclinical testing, with plans to initiate trials by March 31, 2021. The goal is to evaluate the vaccine's effectiveness in preventing SARS-CoV-2 infections in domestic cats, potentially mitigating transmission risks to humans. Successful trials may lead to a USDA conditional license.

TruTrace Technologies (CSE: TTT) has signed a definitive alliance with Applied DNA Sciences (NASDAQ: APDN) to develop a comprehensive cannabis product validation platform. Combining TruTrace’s StrainSecure™ with Applied DNA’s CertainT® system enables enhanced product authentication and end-to-end traceability through blockchain and molecular tagging. The agreement facilitates mutual referrals and technology integration, enhancing the security of cannabis supply chains. Notably, Shoppers Drug Mart employs TruTrace's platform for its medical cannabis program, underscoring its industry relevance.

Applied DNA Sciences (NASDAQ: APDN) and TruTrace Technologies (CSE: TTT) have formed a strategic alliance to implement a blockchain-based solution for the cannabis industry. The agreement integrates Applied DNA’s CertainT platform with TruTrace’s StrainSecure™ platform, enhancing product validation and authentication. This collaboration aims to ensure end-to-end traceability and transparency, offering significant advantages to consumers and brands against counterfeiting. The partnership also establishes a mutual referral system to capitalize on joint opportunities.

Applied DNA Sciences, Inc. (NASDAQ: APDN) has promoted Judith Murrah from Chief Information Officer to Chief Operating Officer. This position formalizes her growing responsibilities in customer relations, QA oversight, and operations management. Ms. Murrah has played a crucial role in expanding COVID-19 testing and implementing Current Good Manufacturing Practices at LineaRx. With a strong background in technology leadership, Ms. Murrah aims to support the company’s growth in nucleic acid-based therapeutics using its PCR-based LinearDNA™ platform.