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 (NASDAQ: APDN) reported a record revenue of $6.1 million for Q2 FY2022, marking a 130% year-over-year increase and 48% sequential growth. The company has cash reserves of $6.5 million post a registered direct offering. Demand for COVID-19 testing remains strong, driven by academic and corporate clients. The company is advancing its LinearDNA platform and expects to commercialize RNA-based therapeutics. Despite a net loss of $1.8 million, the outlook for continued revenue growth remains positive.
Applied DNA Sciences (NASDAQ: APDN) will report its fiscal 2022 second quarter financial results on May 12, 2022, after market close. The management team will host a conference call at 4:30 p.m. ET to discuss the results, which will also be available via webcast. Applied DNA specializes in enzymatic DNA production, particularly through its LinearDNA platform, which supports various applications including in vitro diagnostics and therapeutic developments. More information can be found on their website.
Applied DNA Sciences (NASDAQ: APDN) has secured a safeCircle™ health services contract with a New York City investment firm for PCR-based COVID-19 testing. Starting in April 2022, the contract includes testing services for employees returning to in-person work. The safeCircle platform offers a comprehensive health testing solution, managing sample distribution, results reporting, and variant tracking. Mike Munzer from Applied DNA emphasized the importance of managing COVID-19 exposure as companies transition back to the office environment.
Applied DNA Sciences (NASDAQ: APDN) announced that CEO Dr. James A. Hayward will present at the 2022 Virtual Growth Conference hosted by Maxim Group LLC from March 28-30, 2022. The presentation will be available on-demand during the event. The conference will cover various sectors, including biotech and healthcare, and feature multiple presentations, discussions, and Q&A sessions. Applied DNA is known for its LinearDNA platform utilized in diagnostics and drug development. For more details, visit adnas.com.
Applied DNA Sciences (NASDAQ: APDN) and Spindle Biotech have signed a non-binding letter of intent to explore a collaboration on mRNA production. The partnership aims to utilize Applied DNA's LinearDNA™ platform to create chemically modified DNA templates for Spindle's advanced RNA polymerase. This integration is expected to enhance yield and simplify the production process, offering up to a ten-fold improvement in yield compared to traditional methods. The final agreement's execution depends on successful negotiations between the two parties.
Applied DNA Sciences (NASDAQ: APDN) announced a virtual fireside chat hosted by CEO Dr. James A. Hayward on March 14, 2022, during the 34th Annual Roth Investor Conference. The session will cover the company’s advancements in Polymerase Chain Reaction (PCR)-based DNA technologies. Key executives, including CFO Beth Jantzen and Clay Shorrock, will also conduct one-on-one investor meetings. Interested investors can request a meeting via email at oneononerequests@roth.com. Full details will be available on their website.
Applied DNA Sciences (NASDAQ: APDN) has successfully closed a registered direct offering of 1,496,400 shares of common stock at a price of $2.80 per share, yielding gross proceeds of approximately $4.2 million. Concurrently, the company issued unregistered warrants to purchase an equal number of shares. Following the offering, total outstanding shares will amount to 8,234,320. The net proceeds are intended for general corporate purposes, including advancing its LinearDNA manufacturing platform.
Applied DNA Sciences (NASDAQ: APDN) announced a registered direct offering of 1,496,400 shares at $2.80 per share, yielding gross proceeds of approximately $4.2 million. Alongside, the company will issue warrants to purchase the same number of shares at an exercise price of $2.84. The offering will close around February 24, 2022, subject to customary conditions. Proceeds will support general corporate purposes and advance the LinearDNA™ manufacturing platform.
Applied DNA Sciences (NASDAQ: APDN) announced the publication of a study demonstrating the efficacy of its LinearDNA vaccines in triggering strong immune responses and inhibiting tumor growth in preclinical mouse models. The research, published on bioRxiv, investigates vaccines targeting tumor-associated and tumor-specific antigens. The study highlighted the potential of LinearDNA in both human and veterinary cancer immunotherapy, with a projected market growth to $169 billion by 2028.
Applied DNA Sciences (APDN) reported a substantial revenue increase of 158% year-over-year, reaching $4.2 million for Q1 fiscal 2022, driven by high demand for COVID-19 testing amid the Omicron variant. Sequentially, revenue grew 37% from $3.0 million in Q4 2021. The company anticipates continued growth, with unaudited revenues of approximately $2.0 million in January 2022.
However, gross profit margin decreased to 27% due to higher costs in testing contracts. Net loss for the quarter was $4.7 million, or $0.63 per share.
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