Applied Dna Scie - APDN STOCK NEWS

Applied DNA Sciences, Inc. (NASDAQ:APDN) reports a 158% increase in daily average tests for its safeCircle™ pooled surveillance testing service in January 2021 compared to December 2020, due to expanding contracts and new clients.

The Company plans to scale up production of its Linea™ COVID-19 Assay Kit in response to increased demand and recent FDA alerts highlighting its diagnostic capabilities for SARS-CoV-2 mutations. With 33 clients, including educational institutions and local governments, Applied DNA expects to enhance revenue through its CLEARED4 partnership, streamlining COVID-19 testing solutions.

Applied DNA Sciences, Inc. (NASDAQ: APDN) has closed a registered direct offering of 1,810,000 shares of common stock at $8.30 per share, yielding approximately $15 million in gross proceeds. The funds will be used for general corporate purposes, including working capital and advancing the LinearDNA™ manufacturing platform. Roth Capital Partners acted as the sole placement agent for the offering, which was conducted under a shelf registration statement previously filed with the SEC.

Applied DNA Sciences, Inc. (NASDAQ: APDN) has announced a registered direct offering of 1,810,000 shares at $8.30 each, totaling approximately $15 million in gross proceeds. The offering, expected to close on January 13, 2021, aims to support general corporate needs, including research and development and promoting its LinearDNA™ platform. Roth Capital Partners acted as the sole placement agent for this transaction, conducted under a previously effective registration statement.

Applied DNA Sciences announced that its Linea™ COVID-19 Assay Kit is one of only two tests recognized by the FDA for identifying specific SARS-CoV-2 mutations, including the U.K. variant B.1.1.7. This distinction highlights the Assay Kit's multi-target design, which maintains sensitivity despite some genetic variations. The FDA's safety communication indicates that this kit can assist in detecting and tracking COVID-19 variants more effectively. The Assay Kit is authorized for use in various respiratory specimens, aiding public health efforts against COVID-19.

Applied DNA Sciences, Inc. (NASDAQ: APDN) announced that Dr. James A. Hayward will participate in a fireside chat at the virtual H.C. Wainwright BIOCONNECT 2021 Conference, scheduled for January 11-14, 2021. This event will be hosted by Yi Chen, Managing Director of H.C. Wainwright Equity Research. The chat will be available on-demand starting January 11 at 6:00 a.m. EST on the company's website, with an archived replay accessible for 90 days thereafter.

Applied DNA specializes in molecular technologies focused on supply chain security and anti-counterfeiting.

Applied DNA Sciences (NASDAQ: APDN) anticipates fiscal Q1 2021 revenues between $1.3 million and $1.6 million, significantly up from $314,000 in Q4 2020. This growth is attributed to the safeCircle™ COVID-19 testing program and sales of the Linea™ COVID-19 Assay Kit. The company reports strong client acquisition and ongoing demand, including a recent contract with Suffolk County worth up to $2 million. Full financial results are expected in mid-February.

Applied DNA Sciences, Inc. (NASDAQ: APDN) announced a partnership between its subsidiary, Applied DNA Clinical Laboratories, LLC (ADCL), and CLEARED4, a provider of health safety solutions. This partnership allows ADCL to resell subscriptions to CLEARED4's platform as part of its safeCircle pooled COVID-19 testing program. The integrated platform enhances COVID-19 safety protocols for businesses and schools. Dr. James A. Hayward, CEO of Applied DNA, emphasized the partnership’s role in scaling high-volume clients and improving infection detection. The CLEARED4 platform has issued over one million access passes, providing significant growth potential.

Applied DNA Sciences (NASDAQ: APDN) announced a strategic partnership between its subsidiary, Applied DNA Clinical Laboratories (ADCL), and CLEARED4 for COVID-19 surveillance testing. ADCL can resell CLEARED4 subscriptions as part of its safeCircle program. The integration enhances health safety protocols for clients, providing automated management of surveillance testing and timely results. CLEARED4 recently issued its one-millionth return-to-work Access Pass, demonstrating the platform's adoption in various sectors. This collaboration aims to expedite the safe return to work, schools, and public settings.

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.