Welcome to our dedicated page for Applied Dna Scie news (Ticker: APDN), a resource for investors and traders seeking the latest updates and insights on Applied Dna Scie stock.
The APDN news archive on Stock Titan covers the historical disclosures and announcements of Applied DNA Sciences, Inc., a biotechnology company that developed and commercialized polymerase chain reaction (PCR)-based technologies for DNA production and detection and later adopted a BNB-focused digital asset treasury strategy. During the period when it traded under the Nasdaq symbol APDN, the company issued news on operational restructuring, platform development, customer activity, and capital markets transactions.
Readers can review company updates describing the transition to a pure play provider of synthetic DNA and mRNA manufacturing solutions through its majority-owned subsidiary LineaRx, Inc., including the focus on its LineaDNA, LineaRNAP, and LineaIVT platforms. News items detail workforce reductions, the exit from DNA tagging and security products and services, the closure of Applied DNA Clinical Labs, and the consolidation of operations behind LineaRx to support advanced biotherapeutics and diagnostic applications.
The archive also includes announcements related to conference participation and scientific posters showcasing the LineaDNA and LineaIVT platforms, follow-on orders for LineaDNA from a global in vitro diagnostics manufacturer for use in a cancer diagnostic application, and engagements with mRNA-focused contract development and manufacturing organizations. Financial news covers quarterly results, non-GAAP metrics such as Adjusted EBITDA and monthly net cash burn, and commentary on cost optimization and capital allocation.
Later APDN news releases document the company’s initiation of a BNB-focused digital asset treasury strategy, private placement commitments to fund BNB acquisitions, and the planned change of its Nasdaq ticker from APDN to BNBX to reflect this strategic focus. These items describe agreements with Cypress LLC and Cypress Management LLC for digital asset management and advisory services, as well as the involvement of institutional and crypto-native investors. By following this archive, investors can trace how APDN evolved from a biotechnology-focused issuer into BNB Plus Corp. (BNBX) with a combined profile in nucleic acid production and digital asset treasury management.
Applied DNA Sciences reported a 153% year-over-year revenue growth for Q3 fiscal 2022, totaling $4.3 million. This increase was attributed primarily to clinical testing services related to COVID-19. The company's cash balance stands at $16.8 million, bolstered by an equity offering. However, the gross profit margin decreased to 24% due to higher costs in testing contracts. A net loss of $1.1 million was reported, an improvement from a loss of $3.4 million in the prior-year quarter. Ongoing developments and contracts position the company for potential future growth.
Applied DNA Sciences (NASDAQ: APDN) announced its subsidiary, LineaRx, successfully administered a linearDNA-LNP construct in mice via intramuscular injection without electroporation, enhancing the feasibility of LinearDNA-based therapies. This approach could potentially revolutionize applications in therapeutics, building on LineaRx's past successes, such as anti-lymphoma vaccines. The company is also formulating a canine lymphoma vaccine for similar administration. This achievement aligns with the rising significance of lipid nanoparticle (LNP) technology in vaccine delivery.
Applied DNA Sciences (NASDAQ: APDN) has secured a 12-month extension of its health services contract with The City University of New York (CUNY) for COVID-19 testing and vaccine policy management, running through July 2023. This contract, operational since August 2021, utilizes the safeCircle™ platform to manage health services for over 300,000 individuals across CUNY's 25 campuses, amidst rising COVID-19 variant positivity rates. The partnership is expected to mitigate risks as the academic year progresses, highlighting ADCL's effective testing and management services.
Applied DNA Sciences (NASDAQ: APDN) has secured approximately $3.6 million in net proceeds after an institutional investor exercised Series B warrants. These warrants were part of a public offering that concluded on August 8, 2022. Each warrant allows the purchase of one share at a price of $4.00 until September 8, 2023. There are currently 2.1 million Series B warrants outstanding, alongside 3 million Series A warrants that remain unexercised until August 9, 2027.
Applied DNA Sciences (NASDAQ: APDN) announced a conference call to discuss third-quarter fiscal results on August 11, 2022, at 4:30 p.m. ET. The call will be hosted by CEO Dr. James A. Hayward and CFO Beth Jantzen. Interested participants can access the call by dialing the provided numbers and are encouraged to connect through the company’s website for the webcast and presentation slides. Applied DNA is focused on developing PCR-based technologies for DNA production and detection across various markets.
Applied DNA Sciences has completed a public offering of 3,000,000 shares at $4.00 each, generating approximately $12 million in gross proceeds. The offering includes Series A and Series B warrants for additional shares, both exercisable at $4.00. H.C. Wainwright & Co. served as the placement agent. The company operates in DNA production and detection technologies, addressing therapeutic, diagnostic, and supply chain security markets.
Applied DNA Sciences, Inc. (NASDAQ: APDN) announced a public offering of 3 million shares of common stock at $4.00 per share, along with two series of warrants. The gross proceeds from this offering are expected to reach $12 million, earmarked for the development of Therapeutic DNA Production and MDx Testing Services, among other corporate purposes. The offering is expected to close around August 8, 2022, subject to customary conditions. H.C. Wainwright & Co. acts as the exclusive placement agent for the offering.
Applied DNA Sciences (NASDAQ: APDN) announced its clinical lab subsidiary, Applied DNA Clinical Labs (ADCL), is validating a PCR-based monkeypox virus test. This test aims to detect the A17L gene specific to monkeypox, differentiating it from other orthopoxviruses. Upon validation, the test will be submitted to the New York State Department of Health for approval and utilized in ADCL's testing services. ADCL plans to leverage its established COVID-19 workflows to ensure efficiency and accuracy in monkeypox testing, enhancing public health response capabilities.
Applied DNA Sciences (NASDAQ: APDN) announced a manuscript publication demonstrating that its LinearDNA vaccine elicited neutralizing antibodies against SARS-CoV-2 in domestic cats. Developed by its subsidiary LineaRx in collaboration with EvviVax, the vaccine showed promising safety and immunogenicity. Additionally, the successful expression of the linDNA vaccine encapsulated in lipid nanoparticles (LNP) was confirmed, paving the way for future animal studies. The company is also exploring out-licensing opportunities for its canine lymphoma vaccine candidate, contingent on successful clinical trials and regulatory approvals.
Applied DNA Sciences (NASDAQ: APDN) announced that Dr. James A. Hayward will present on the benefits of linearDNA as a template for mRNA production at the mRNA-Based Therapeutics Summit in Boston from July 26-28, 2022. His presentation, titled ‘The Future of RNA Therapies Produced from LinearDNA™ Templates,’ is set for July 27 at 4:30 PM EST. The linearDNA method offers advantages over traditional plasmid DNA, including a simplified workflow, less DNA requirement for RNA yields, and removal of problematic sequences. Visit linearxdna.com for more details.
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