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 (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.
Applied DNA Sciences, Inc. (NASDAQ: APDN) will release its fiscal 2022 first quarter financial results on February 10, 2022, after market close. The company's management 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 PCR-based DNA manufacturing and nucleic acid technologies, including its proprietary LinearDNA platform used in diagnostics and drug development. Visit adnas.com for more details.
Applied DNA Sciences (NASDAQ: APDN) announced that its subsidiary, Applied DNA Clinical Labs (ADCL), will deploy the Linea 1.0 COVID-19 Assay to identify BA.2 subvariant mutations in positive samples. This assay enhances genomic surveillance, allowing public health officials to detect BA.2's spread efficiently compared to traditional methods. BA.2, first identified in November 2021, is increasingly prevalent, found in over 50 countries and noted to be 1.5 times more infectious than BA.1. The deployment could increase testing demand and provide crucial data for managing the pandemic.
Applied DNA Sciences (NASDAQ: APDN) announced that its subsidiary, Applied DNA Clinical Labs, submitted a request to the FDA for Emergency Use Authorization for its Linea 2.0 COVID-19 Assay and Unsupervised At-Home Sample Collection Kit. If approved, this will expand its safeCircle COVID-19 testing platform nationally, aimed at minimizing workforce disruptions caused by COVID-19 spread. The Linea 2.0 Assay is variant agnostic and can detect all known SARS-CoV-2 variants, with results typically available within 24 to 48 hours.
Applied DNA Sciences, Inc. (NASDAQ: APDN) reports over a 90% increase in COVID-19 testing levels for the quarter ending December 31, 2021, compared to the prior quarter. This growth is attributed to new safeCircle™ clients and increased demand from existing clients for managed testing solutions. The company secured a subcontract for community-based pop-up testing services. CEO Dr. James A. Hayward states a focus on long-term market sectors and mentions plans to file for Emergency Use Authorization (EUA) for their Linea™ 2.0 COVID-19 Assay.
Applied DNA Sciences (NASDAQ: APDN) announced that its clinical lab, Applied DNA Clinical Labs (ADCL), has received conditional approval from the New York State Department of Health for its Linea 2.0 Assay for COVID-19 testing. The assay can be used for individual and pooled testing. Additionally, ADCL plans to file a request for Emergency Use Authorization (EUA) with the FDA for the assay and a new at-home sample collection kit, expanding its testing services beyond New York. The Linea 2.0 Assay targets SARS-CoV-2 genes and boasts enhanced performance over the previous version.
Applied DNA Sciences (NASDAQ: APDN) has signed a Memorandum of Understanding (MoU) with Stratum Reservoir's Isotech division to enhance cotton traceability using isotopic analysis (IA). This partnership aims to integrate IA as a confirmatory assay within Applied DNA's CertainT® platform, ensuring the authenticity of cotton fiber origins. This collaboration follows a presentation at an AAFA event detailing the successful identification of Egyptian cotton origins. Both companies are also working on a global database for cotton samples to support business development opportunities.
Applied DNA Sciences (NASDAQ: APDN) reported a remarkable year-over-year revenue growth of 868% in FQ4, reaching $3.0 million, and record full-year revenues of $9.0 million, a 367% increase over the previous fiscal year. The growth is attributed to its entry into the COVID-19 testing market, particularly through its clinical lab subsidiary, ADCL. However, the company also faced a net loss of $4.5 million in FQ4 and $14.3 million for the fiscal year. Revenues from clinical services and product sales were key growth drivers.
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