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, Inc. (NASDAQ:APDN) announced that the U.S. Defense Logistics Agency (DLA) has exercised the first one-year option period of a three-year base contract with two one-year option periods. This contract, initially entered in May 2021, supports DLA's counterfeit mitigation initiatives and product verification programs for FSC 5962 microcircuits. The contract has a maximal value of $1.04 million over a potential five-year term.
This extension continues Applied DNA's support of DLA's counterfeit mitigation program, which has been ongoing since 2014. The company's forensic DNA mark serves as a secure, high-resolution taggant to track provenance and ensure authenticity in defense-related microcircuits.
Applied DNA Sciences and Alphazyme successfully concluded their Linea(TM) RNAP manufacturing scale-up project, achieving a 70% reduction in production costs. This initiative is expected to significantly enhance the profitability of Applied DNA's Linea IVT platform. The project secured a quantity of Linea RNAP sufficient to meet near-term demand for mRNA production. The company anticipates leveraging these improved economics and new IP protections to secure GMP-grade supply agreements by Q4 2024. This development aligns with Applied DNA's strategy to drive growth through its LineaRx segment.
Applied DNA Sciences (NASDAQ:APDN) has partnered with GenXys Health Care Systems to deploy a clinical decision support system for its TR8™ pharmacogenomic (PGx) test. This collaboration aims to enhance precision prescribing by providing healthcare providers with actionable insights from PGx testing, which examines 120 genetic variants across 30 genes. The TR8 PGx test, approved by the New York State Department of Health, seeks to improve patient outcomes and reduce healthcare costs by guiding drug-gene interactions. The test will be processed in ADCL's CLEP/CLIA-certified lab.
Applied DNA Sciences (NASDAQ:APDN) announced that its TR8(TM) pharmacogenomic (PGx) testing service has received approval from the New York State Department of Health (NYSDOH). The service, offered through Applied DNA Clinical Labs, aims to help healthcare providers tailor medication treatments for cardiovascular, oncology, psychiatric, infectious disease, and pain management based on a patient's genetic profile. TR8(TM) analyzes 120 genetic targets across more than 30 genes using a cheek swab to inform healthcare providers about a patient's response to medications. The company sees this approval as a significant milestone and is actively seeking partnerships to expand its market share in New York State.
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.
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.
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.
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.
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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