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BNB Plus Corp., formerly Applied DNA Sciences, Inc., reports corporate developments tied to its transition from the APDN ticker to BNBX, its BNB-focused digital asset treasury strategy, and its remaining nucleic acid production business. Company news has covered ticker and name changes, Nasdaq listing compliance, restructuring actions, financing activity, and governance changes.
The company's biotechnology updates have centered on LineaRx, LineaDNA, LineaIVT, and LineaRNAP, including synthetic DNA and mRNA manufacturing applications for biopharmaceutical, diagnostic, gene therapy, personalized medicine, adoptive cell therapy, mRNA therapeutic, and DNA vaccine markets.
Applied DNA Sciences (NASDAQ: APDN) announced the publication of a peer-reviewed study in Molecular Therapy – Methods & Clinical Development, demonstrating the immunogenicity of its linearDNA vaccine candidate against SARS-CoV-2 in cats. This advancement supports the linearDNA™ platform for vaccine production. The company is also optimizing lipid nanoparticle (LNP) delivery systems to enhance vaccine administration. Concurrent studies with Cornell University aim to test LNP-encapsulated linearDNA in animal models, potentially paving the way for veterinary vaccines.
Applied DNA Sciences (NASDAQ: APDN) reported a 17% revenue growth quarter-over-quarter and 101% year-over-year for fiscal year ended September 30, 2022, achieving record revenues of $18.2 million. The company's cash position stands at $15.2 million. Despite operational challenges, including a decline in gross profit margins to 12%, management remains optimistic, focusing on the commercialization of pharmacogenomics testing and enhancing their linearDNA platform. The company plans a conference call on December 14, 2022, to discuss these results.
Applied DNA Sciences (NASDAQ: APDN) announced it will release its fiscal 2022 fourth quarter and year-end financial results on December 14, 2022, after market close. A conference call will follow at 4:30 PM ET, featuring management discussions led by CFO Beth Jantzen and CEO Dr. James A. Hayward.
Investors can participate by dialing US: 1-844-887-9402 or International: +1-412-317-6798. The results will be accessible on the Applied DNA investor relations website.
Applied DNA Sciences, Inc. (NASDAQ: APDN) has announced plans to double its current DNA production capacity by establishing a new manufacturing facility in Suffolk County, New York. This expansion will enhance the production of cGMP LinearDNA™, catering to the growing demand from pharmaceutical and biotech companies. The new facility is expected to commence operations in the second half of 2023, targeting a monthly production capacity of approximately 50g, supporting drug discovery to late-phase clinical trials. Funding discussions are underway with various entities.
Applied DNA Sciences (NASDAQ: APDN) has received its largest single purchase order for LinearDNA™, valued above mid-six figures, under a long-standing supply agreement with a global in vitro diagnostics manufacturer. The current quarter will see the delivery of LinearDNA, with fulfillment expected over the next three quarters. The enzymatic production platform enhances efficiency and safety, reducing contamination risks associated with traditional plasmid DNA. CEO Dr. James A. Hayward highlighted the potential of DNA-based probes in diagnostics and therapeutic applications.
Applied DNA Sciences (NASDAQ: APDN) announced promising results from a study demonstrating that its LinearDNA vaccine candidate reduced infectious virus shedding and provided protection against SARS-CoV-2 in ferrets. The vaccine showed induction of neutralizing antibodies and T cell responses across multiple animal models, including mice and cats. The study's findings support further development of LinearDNA as a versatile vaccine platform. The manuscript detailing the research is available in a preprint and highlights the vaccine's capability to enhance immunity without side effects.
Applied DNA Sciences (NASDAQ: APDN) has announced a research agreement with Cornell University College of Veterinary Medicine to advance LinearDNA-based vaccine research for animal diseases. This agreement combines LinearDNA with Cornell's viral vector design expertise, aiming to innovate in animal vaccine development. Following positive results from recent intramuscular studies, the company is progressing with LNP-LinearDNA vaccine designs for preclinical trials, including a canine cancer vaccine expected to enter initial clinical trials in 1H 2023.
Applied DNA Sciences (NASDAQ: APDN) will present at the H.C. Wainwright 24th Annual Global Investment Conference on September 13, 2022, at 2:00 PM ET. The hybrid conference runs from September 12 to 14, 2022. CEO Dr. James A. Hayward will give an overview of the company's business during his presentation. The event will be held at the Lotte New York Palace Hotel, New York, NY. Interested parties can register to view the livestream of the presentation.
Applied DNA specializes in PCR-based DNA technologies for therapeutics, diagnostics, and supply chain security.
Applied DNA Sciences (NASDAQ: APDN) has received full approval from the New York State Department of Health for its Monkeypox Virus Diagnostic test. This allows its laboratory subsidiary, Applied DNA Clinical Labs, LLC (ADCL), to provide monkeypox testing services to hospitals and clinical labs in New York and other states recognizing New York's certification. The test, designed to detect the Clade II variant of the monkeypox virus, aims to enhance testing capacity amidst over 20,000 reported cases in the U.S., with New York being severely affected.
Applied DNA Sciences (NASDAQ: APDN) announced that its clinical laboratory subsidiary, Applied DNA Clinical Labs, LLC (ADCL), has submitted a validation package for its monkeypox virus test to the New York State Department of Health (NYSDOH). The test, named Linea™ Monkeypox Virus 1.0 Assay, is designed to identify the Clade II variant, currently prevalent in the U.S. If approved, it will complement ADCL's COVID-19 testing services, enhancing their high-throughput infectious disease testing offerings. The test aims to provide quick turnaround times for results to aid public health efforts.