Applied DNA Sciences, Inc. - APDN STOCK NEWS

Applied DNA Sciences (NASDAQ: APDN) announced that its CertainT® supply chain traceability platform has been featured in an article on the New York Times' homepage. This article highlights the growing need for tracing technologies in response to the Uyghur Forced Labor Prevention Act (UFLPA). The CertainT platform employs a 'tag-test-track' approach, utilizing synthetic DNA tags to enhance supply chain security, ensuring compliance with UFLPA regulations. The platform can verify the geographic origin of textiles and other products, aiding industries in mitigating risks associated with forced labor. The UFLPA, in effect since June 2022, has created a pressing demand for transparent supply chains. The use of DNA traceability and isotopic testing is recognized by the Department of Homeland Security as critical for companies seeking to validate their sourcing practices.

Applied DNA Sciences (NASDAQ: APDN) has achieved a significant milestone by producing and shipping a multi-gram quantity of linearDNA™ within six weeks, under a large recurring purchase order from a global in vitro diagnostics manufacturer. This shipment represents the largest single shipment of linearDNA to date and is set to fulfill contractual obligations ahead of schedule. The company is actively working towards cGMP production to enhance linearDNA’s market potential across various applications, including therapeutic DNA and diagnostics. These advancements underscore the platform's scalability and efficiency compared to traditional plasmid DNA manufacturing.

Applied DNA Sciences (NASDAQ: APDN) announced the submission of a validation package to the New York State Department of Health for a pharmacogenomics (PGx) assay. This assay, if approved, will enable ADCL to provide population-scale PGx testing services aimed at enhancing personalized medicine through tailored drug prescribing. Targeting self-insured health markets, the testing is expected to improve ADCL's margins. Studies show that PGx testing can lower healthcare costs and improve patient safety. CEO Dr. James A. Hayward emphasized the potential for significant cost reductions and wellness benefits for large employers.

Applied DNA Sciences (NASDAQ: APDN) has received a funding award of up to $1.5 million from New York State's Empire State Development agency. This award, part of the Excelsior Jobs Program, is designed to promote net new job creation through refundable employee tax credits over a period of up to 10 years. The funds will aid in the development of cGMP linearDNA™ for genetic medicine manufacturing. This initiative is part of Applied DNA's ongoing commitment to advance its PCR-based DNA technologies.

Governor Kathy Hochul supports this effort as it strengthens the local life sciences sector.

Applied DNA Sciences (NASDAQ: APDN) reported Q1 fiscal 2023 revenues of $5.3 million, marking a 48% increase from FQ4 2022 and 26% growth from FQ1 2022. The company achieved a 72% reduction in operating loss sequentially and a 74% reduction year-over-year. This growth was primarily driven by demand for molecular diagnostic testing and new orders for linearDNA™ from biopharma clients. The firm is progressing towards establishing a cGMP manufacturing facility by year-end. Additionally, the company aims to leverage its population health platform in genetic testing while expanding its CertainT® platform for textile materials testing.

Applied DNA Sciences (NASDAQ: APDN) will release its financial results for the quarter ending December 31, 2022, after market close on February 9, 2023. A conference call is scheduled for 4:30 p.m. ET to discuss the results and answer questions from investors. Interested parties can participate via domestic and international dial-in numbers or by accessing a live webcast at this link. A replay will be available for one week following the call. Applied DNA focuses on DNA technologies for therapeutics, diagnostics, and supply chain security.

Applied DNA Sciences (NASDAQ: APDN) announced the publication of a peer-reviewed study in Molecular Therapy – Methods & Clinical Development, demonstrating the immunogenicity of its linearDNA vaccine candidate against SARS-CoV-2 in cats. This advancement supports the linearDNA™ platform for vaccine production. The company is also optimizing lipid nanoparticle (LNP) delivery systems to enhance vaccine administration. Concurrent studies with Cornell University aim to test LNP-encapsulated linearDNA in animal models, potentially paving the way for veterinary vaccines.

Applied DNA Sciences (NASDAQ: APDN) reported a 17% revenue growth quarter-over-quarter and 101% year-over-year for fiscal year ended September 30, 2022, achieving record revenues of $18.2 million. The company's cash position stands at $15.2 million. Despite operational challenges, including a decline in gross profit margins to 12%, management remains optimistic, focusing on the commercialization of pharmacogenomics testing and enhancing their linearDNA platform. The company plans a conference call on December 14, 2022, to discuss these results.

Applied DNA Sciences (NASDAQ: APDN) announced it will release its fiscal 2022 fourth quarter and year-end financial results on December 14, 2022, after market close. A conference call will follow at 4:30 PM ET, featuring management discussions led by CFO Beth Jantzen and CEO Dr. James A. Hayward.

Investors can participate by dialing US: 1-844-887-9402 or International: +1-412-317-6798. The results will be accessible on the Applied DNA investor relations website.