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Applied DNA Sciences, Inc. - $APDN STOCK NEWS

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.

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Applied DNA Sciences (NASDAQ: APDN) announced it received a Notice of Allowance from the USPTO for patent application 18/302,247, covering its Linea™ RNAP enzyme. This patent protects the composition of the enzyme, a core part of the company's Linea™ IVT platform, until 2041. The technology aims to streamline mRNA production, reducing contamination. Acquired from Spindle Bio in July 2023, Linea RNAP supports the manufacture of mRNA therapies, which are currently in high demand. Applied DNA is also set to start its GMP capabilities soon, reinforcing its commitment to providing critical materials for mRNA manufacturing.

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Applied DNA Sciences (NASDAQ: APDN) announced the pricing of a public offering expected to generate approximately $12 million in gross proceeds. The offering includes 9,230,769 units, each consisting of a common share or pre-funded warrant, a Series A Warrant, and a Series B Warrant. Series A Warrants are exercisable at $1.99 per share and expire on the fifth anniversary of stockholder approval, while Series B Warrants also have an exercise price of $1.99 but expire one year after stockholder approval. The offering price per unit with a common share is $1.30. Net proceeds will support development of DNA production and MDx testing services, along with general corporate purposes. The offering is expected to close on May 29, 2024, subject to customary conditions. Craig-Hallum and Laidlaw & Company (UK) are acting as placement agents.

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Applied DNA Sciences, Inc. and the Institute of Hematology and Blood Transfusion are collaborating on a non-viral manufacturing workflow for CAR T-cell therapy. The study aims to reduce costs and improve production efficiency using Linea DNA technology. The abstract will be presented at the European Hematology Association 2024 Congress.

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Applied DNA announced its second-quarter fiscal year 2024 financial results, reporting a decline in total revenues to $930 thousand due to the conclusion of a testing contract. Gross profit decreased to $296 thousand, with a decline in the gross profit percentage. Operating expenses decreased to $3.9 million. The loss from operations was $3.6 million, and Adjusted EBITDA was a negative $3.3 million. Cash and cash equivalents stood at $3.1 million. The company underwent a one-for-twenty reverse stock split and regained compliance with the Nasdaq minimum bid price requirement.

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Applied DNA Sciences, Inc. (NASDAQ:APDN) has regained compliance with the minimum bid price requirement set by the Nasdaq Stock Market, ensuring that the company's ordinary shares closed at or above $1.00 for a minimum of 10 consecutive business days, as confirmed in a recent notification letter. This achievement signifies a positive development for the company and its shareholders.

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Applied DNA Sciences, Inc. (NASDAQ:APDN) has been awarded a contract by HDT Bio for rapid vaccine development, aiming to manufacture mRNA vaccines within 7 days. The project focuses on decentralized vaccine manufacturing to combat infectious diseases.
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Applied DNA Sciences, Inc. (NASDAQ:APDN) announces a 1-for-20 reverse stock split effective April 25, 2024, to comply with Nasdaq listing requirements. The split reduces outstanding shares from 17.26 million to approximately 863,000, with proportional adjustments to stock options and warrants. The Company's common stock will trade on a split-adjusted basis under symbol 'APDN' on the Nasdaq Capital Market.
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Applied DNA Sciences, Inc. (NASDAQ:APDN) partners with Alphazyme to scale-up manufacturing of Linea RNA polymerase (RNAP) to meet growing demand for Linea IVT platform. The collaboration aims to increase RNAP manufacturing capacity, reduce unit costs of goods, and coincide with the Company's planned initiation of GMP manufacturing for Linea DNA IVT templates.
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Applied DNA Sciences, Inc. (APDN) will present Linea IVT and Linea DNA platforms at the 24th Annual World Vaccine Congress. Sales team members will be available for meetings during the event.
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Applied DNA Sciences, Inc. (APDN) announced first-quarter fiscal 2024 financial results. The company is on track to initiate first-phase GMP production capacity for mRNA critical starting materials during the first half of calendar 2024. The initial facility capacity is projected to enable up to $15 million of Linea IVT revenue annually. The company also announced the completion of an equity offering to support the initial phase of the GMP plan and timeline for critical starting materials in the production of mRNA.
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FAQ

What services does Applied DNA Sciences provide?

Applied DNA Sciences offers Therapeutic DNA Production Services, MDx Testing Services, and DNA Tagging and Security Products and Services.

What is the Linea™ IVT platform?

The Linea™ IVT platform produces high-fidelity mRNA with reduced contamination, streamlining mRNA production workflows.

How does Applied DNA contribute to supply chain security?

Applied DNA provides DNA tagging and authentication solutions under brands like SigNature® and SigNify® to protect products and brands from counterfeiting and fraud.

What was the purpose of the recent public offering by Applied DNA?

The $12 million public offering aims to further develop Therapeutic DNA Production Services and MDx Testing Services, alongside general corporate purposes.

What recent patent has Applied DNA received?

Applied DNA received a Notice of Allowance from the USPTO for a patent on its Linea™ RNAP, which will extend protection into 2041.

What is the significance of the reverse stock split?

The 1-for-20 reverse stock split ensures compliance with Nasdaq's minimum bid price requirements, maintaining the company’s listing on the exchange.

Which markets does Applied DNA Sciences primarily serve?

Applied DNA serves markets in synthetic DNA manufacturing for therapeutics, molecular diagnostics, genetic testing, and industrial supply chain security.

How does Applied DNA's technology benefit mRNA vaccine production?

Applied DNA's Linea™ IVT platform enables rapid, scalable production of high-quality mRNA, crucial for fast-response vaccine manufacturing.

What recent collaborations has Applied DNA announced?

Applied DNA announced a collaboration with HDT Bio under 'Project NextGen: Enabler' for rapid mRNA vaccine production and with Alphazyme for scaling RNAP manufacturing.

Where can investors find more information about Applied DNA?

Investors can visit Applied DNA's official website at www.adnas.com and check their latest filings on the SEC's website for detailed financial and strategic information.

Applied DNA Sciences, Inc.

Nasdaq:APDN

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5.35M
13.60M
12.32%
19.23%
1.6%
Cyclic Crude, Intermediate, and Gum and Wood Chemical Manufacturing
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United States of America
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About APDN

we keep life real and safe by providing botanical-dna based security and authentication solutions and services that protect assets, products, brands, supply chains, and intellectual property of companies, governments and consumers from theft, counterfeiting, fraud and diversion.