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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d)
OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported):
September 30, 2025
Applied DNA Sciences, Inc.
(Exact name of registrant as specified in its charter)
|
Delaware
(State or other jurisdiction
of incorporation) |
001-36745
(Commission File Number) |
59-2262718
(IRS Employer
Identification No.) |
50 Health Sciences Drive
Stony Brook, New York 11790
(Address of principal executive offices; zip code)
Registrant’s telephone number, including area code:
631-240-8800
N/A
(Former name or former address, if changed since
last report)
Check the appropriate box below if the Form 8-K
filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| ¨ |
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| ¨ |
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| ¨ |
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| ¨ |
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Indicate by check mark whether the registrant
is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the
Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ¨
If an emerging growth company, indicate by check
mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting
standards provided pursuant to Section 13(a) of the Exchange Act. ¨
Securities registered pursuant to Section 12(b)
of the Act:
| Title of each class |
|
Trading Symbol(s) |
|
Name of each exchange on which registered |
| Common Stock, $0.001 par value |
|
APDN |
|
The Nasdaq Stock Market |
Item 2.05 Costs Associated with Exit or Disposal Activities.
On September 30, 2025,
the Board of Directors of Applied DNA Sciences, Inc. (the “Company”)
authorized, and its officers implemented, a restructuring plan pursuant to which the Company will reduce overall operating expenses
to focus resources on its previously announced BNB-focused treasury strategy. The restructuring plan includes a reduction of the
Company’s current workforce by sixteen employees, or approximately 60%. The Company estimates that it will incur aggregate
pre-tax charges of approximately $1.4 million in connection with the reduction-in-force, primarily consisting of severance payments,
employee benefits, and related costs. The Company expects that the reduction-in-force will be substantially completed by the end of
October 2025 and that the associated charges will be recorded in the first quarter of fiscal 2026. The Company estimates that the
restructuring will result in annualized cost savings of approximately $2.9 million. The estimated charges that the Company expects
to incur are subject to a number of assumptions, and actual results may differ materially from these estimates. The Company may also
incur additional costs not currently contemplated due to events that may occur as a result of, or that are associated with, the
restructuring plan.
Item 7.01 Regulation FD Disclosure.
On October 6, 2025, the Company
issued a press release announcing that it will change its ticker symbol on the Nasdaq Capital Market from "APDN" to "BNBX"
effective at the opening of trading on Tuesday, October 7, 2025. A copy of the press release is attached hereto as Exhibit 99.1 and is
incorporated by reference herein.
The information in this Item
7.01, including Exhibit 99.1 attached hereto, is being furnished and shall not be deemed to be “filed” for purposes of Section
18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities
of that section, nor shall it be deemed to be incorporated by reference in any filing under the Securities Act of 1933, as amended, or
the Exchange Act, except as shall be expressly set forth by specific reference in any such filing.
Forward-Looking Statements
This Current Report on Form
8-K contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements contained
in this Current Report on Form 8-K that do not relate to matters of historical fact should be considered forward-looking statements, including
without limitation statements regarding the Company’s belief that restructuring will reduce overall operating expenses, the future
success of its Linea DNA and Linea IVT platforms and its treasury strategy and future reductions in operating expenses. All forward-looking
statements reflect the Company’s beliefs and assumptions only as of the date of this Current Report on Form 8-K. The Company undertakes
no obligation to update forward-looking statements to reflect future events or circumstances. Capitalized terms shall have the meanings
ascribed to such terms in the Current Report on Form 8-K.
Item
9.01 Financial Statements and Exhibits.
(d) Exhibits.
| Exhibit No. |
|
Description |
| 99.1 |
|
Press Release, dated October 6, 2025. |
| 104 |
|
Cover Page Interactive Data File (embedded within the Inline XBRL document). |
SIGNATURES
Pursuant to the requirements
of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.
| Date: October 6, 2025 |
APPLIED DNA SCIENCES, INC. |
| |
|
|
| |
By: |
/s/ Beth Jantzen |
| |
Name: |
Beth Jantzen |
| |
Title: |
Chief Financial Officer |
