Applied Dna Scie Stock Price, News & Analysis

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.

Applied DNA Sciences (NASDAQ: APDN) has launched business development initiatives to promote its LinearDNA™ platform, a cell-free enzymatic DNA production method aimed at enhancing the biotherapeutics sector's efficiency. The company, through its subsidiary LineaRx, is advocating LinearDNA as a viable alternative to traditional plasmid-based DNA production, claiming advantages in speed, purity, flexibility, and scalability. Key applications include DNA vaccines, mRNA production, and gene therapy manufacturing, with preclinical studies showing linDNA's effectiveness.

Applied DNA Sciences (NASDAQ: APDN) is advancing its CertainT® platform as a U.S.-made solution to demonstrate goods’ origins, adhering to the Uyghur Forced Labor Prevention Act (UFLPA) effective from June 21, 2022. The UFLPA bans imports from China's Xinjiang region due to forced labor concerns. The Department of Homeland Security recognizes DNA traceability and isotopic testing as methods to prove compliance. With a focus on securing global supply chains, Applied DNA aims for industry adoption of its technology, which has significant implications for cotton sourcing and overall supply chain security.

Applied DNA Sciences (NASDAQ: APDN) has announced the initiation of its first canine clinical trial for a lymphoma cancer vaccine, based on a peer-reviewed study published in The Journal of Experimental & Clinical Cancer Research. This study supports the use of the company’s LinearDNA™ platform, demonstrating promising preclinical data indicating a strong immune response in canine models. The vaccine targets B-cell lymphoma, the most common cancer in dogs, with plans for a trial to begin this year. This innovation could lead to a conditional license application with the USDA.

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.