Welcome to our dedicated page for Applied DNA Sciences news (Ticker: APDN), a resource for investors and traders seeking the latest updates and insights on Applied DNA Sciences stock.
Applied DNA Sciences, Inc. (NASDAQ: APDN) is a biotechnology company pioneering advanced DNA-based technologies to safeguard assets and enhance industrial and healthcare applications. Headquartered in Stony Brook, NY, Applied DNA leverages Polymerase Chain Reaction (PCR) to produce and detect DNA and RNA, operating in three key segments: Therapeutic DNA Production Services, MDx Testing Services, and DNA Tagging and Security Products and Services.
In the Therapeutic DNA Production Services segment, Applied DNA produces synthetic DNA for nucleic acid-based therapeutics. With the acquisition of Spindle Biotech, the company has expanded its portfolio to include a proprietary RNA polymerase (RNAP) for mRNA therapeutics manufacturing. The recent contract with HDT Bio under the 'Project NextGen: Enabler' award aims to expedite mRNA vaccine production, highlighting the company's commitment to rapid-response medical solutions.
The MDx Testing Services segment, which includes clinical molecular diagnostic and genetic testing services, significantly contributes to the company's revenue. Applied DNA's innovative Linea™ IVT platform, designed to produce high-fidelity mRNA with reduced contamination, is a game-changer in molecular diagnostics.
Through the DNA Tagging and Security Products and Services segment, the company offers solutions under the brands Applied DNA Sciences, SigNature®, SigNature® T, fiberTyping, and SigNify®, providing robust anti-counterfeiting and product authentication services. These services are essential for supply chain security across various industries, including textiles and pharmaceuticals.
Recent achievements include closing a $12 million public offering to fund the development of DNA production services and the successful reverse stock split to comply with Nasdaq's minimum bid price requirements. Additionally, Applied DNA received a Notice of Allowance from the USPTO for a patent on its Linea™ RNAP, solidifying its intellectual property portfolio and extending patent protection into 2041.
Applied DNA remains dedicated to advancing DNA technology to meet the world’s evolving needs in healthcare, supply chain security, and beyond. For more information, visit their website at www.adnas.com and follow them on social media for the latest updates.
Applied DNA Sciences (APDN) reported financial results for the fiscal year and quarter ending September 30, 2020. Revenues fell 64% year-over-year to $1.9 million, primarily due to a drop in service and product revenues linked to the pandemic. The net loss applicable to common stockholders widened to $13 million, or $3.32 per share. The company has focused on developing COVID-19 related diagnostics and vaccines, securing partnerships and contracts, particularly with Stony Brook University Hospital. Cash reserves stood at $7.8 million at fiscal year-end, with ongoing efforts to address supply chain security.
Applied DNA Sciences, Inc. (NASDAQ: APDN) announced that its subsidiary, Applied DNA Clinical Laboratories (ADCL), has been awarded a COVID-19 surveillance testing program with Suffolk County, valued at up to $2 million. This 6-month contract may extend based on testing demand. The initiative will provide County employees access to efficient testing, crucial for managing the ongoing pandemic. ADCL's partnership with CLEARED4 enhances program automation and compliance with health regulations, while the safeCircle™ program uses pooled testing to identify infections rapidly.
Applied DNA Sciences (NASDAQ: APDN) reports increasing demand for its safeCircle pooled COVID-19 testing program, primarily from New York State schools adhering to the Winter COVID-19 Plan. New agreements could lead to a weekly testing population exceeding 5,000 individuals. The program aims to control infection rates in schools, requiring testing based on infection thresholds in designated micro-cluster zones. SafeCircle delivers results within 24 hours using its PCR-based technology.
Applied DNA Sciences, Inc. (NASDAQ: APDN) will release its fiscal 2020 fourth quarter financial results on December 17, 2020, after market close. A conference call is scheduled for 4:30 p.m. EST, with a live broadcast available online. The company provides solutions for supply chain security, anti-counterfeiting, and therapeutic drug candidates. Investors can access a recording of the call and subsequent webcasts on the company's website.
Applied DNA Sciences (NASDAQ: APDN) announced the expansion of its commercial activities through a multi-year Master Services Agreement with Nutrition21. Nutrition21 will utilize Applied DNA's CertainT® platform to secure its dietary supplement ingredients’ intellectual property. The agreement includes follow-on orders for the second year of commercial production, with shipments expected in the current fiscal quarter. Nutrition21 is the first to adopt this platform, which will enhance ingredient authenticity and address IP infringement, supporting both companies’ growth in the dietary supplements market.
Applied DNA Sciences (NASDAQ: APDN) announced its subsidiary, Applied DNA Clinical Laboratories, will implement its COVID-19 surveillance testing program, safeCircle™, for Stony Brook University’s basketball teams. This program will facilitate three testing sessions weekly, using the Linea™ COVID-19 Assay Kit, enhancing safety for athletes and staff.
Dr. James A. Hayward highlighted the significance of this partnership, aiming to set a testing model for other sports teams. The initiative represents a strategic expansion of ADCL's surveillance testing services amid ongoing COVID-19 challenges.
Applied DNA Sciences (NASDAQ: APDN) has received approvals from New York and U.S. agricultural departments for a veterinary trial of its LinearDNA COVID-19 vaccine candidate, aimed at domestic felines. This redesigned trial allows faster data collection and aims for a USDA APHIS conditional license for commercial sales after demonstrating safety and immunogenicity. The trial, beginning within 90 days, will recruit a smaller group of healthy felines to assess the vaccine’s effectiveness, responding to serious COVID-19 risks in animal reservoirs and potential spillover effects on human populations.
Applied DNA Sciences, Inc. (NASDAQ: APDN) will participate virtually in the Imperial Capital 2020 Security Investor Conference on December 3, 2020. CEO Dr. James A. Hayward is scheduled to present at 10:45 a.m. EST and will hold one-on-one meetings throughout the day. A webcast of the presentation will be archived within 24 hours on the company's Investor Relations page. Applied DNA specializes in PCR-based DNA manufacturing, focusing on supply chain security and anti-counterfeiting solutions.
Applied DNA Sciences (NASDAQ:APDN) announced that the FDA has granted an Emergency Use Authorization (EUA) amendment for its Linea™ COVID-19 Assay Kit. This amendment allows the assay kit to operate on the Applied Biosystems™ 7500 Fast Dx system, expanding testing capacity to 400-800 tests per 24 hours in clinical labs. CEO Dr. James A. Hayward emphasized this will facilitate broader adoption of their test. Additionally, Applied DNA noted ongoing efforts in enhancing its safeCircle™ pooled testing platform while addressing deficiencies identified in its clinical lab certification process.
Applied DNA Sciences (NASDAQ: APDN) has secured a blanket purchase order for its Linea™ COVID-19 Assay Kit from an existing customer, facilitating 10,000 tests. The company has already shipped part of this order in the current fiscal quarter, with further deliveries anticipated. The assay kit received Emergency Use Authorization (EUA) from the FDA in May 2020, allowing its use for SARS-CoV-2 detection. Additionally, Applied DNA has applied for an amendment to extend its EUA to include a widely used PCR system.
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