- Recurring and Accelerated Receipt of Order Reflects Customer Commitment to Linea DNA -
STONY BROOK, NY / ACCESSWIRE / September 17, 2024 / Applied DNA Sciences, Inc. (NASDAQ:APDN) ("Applied DNA" or the "Company"), a leader in PCR-based DNA technologies, today announced it has received a follow-on order valued at more than $500,000 for a quantity of Linea™ DNA from a global manufacturer of in vitro diagnostics (IVDs). The follow-on order was placed under a long-standing supply agreement for the bulk manufacture of Linea DNA (non-therapeutic) used in the manufacture of a cancer diagnostic test. Applied DNA expects to deliver on the order over four quarterly shipments in calendar 2025.
Dr. James A. Hayward, president and CEO of Applied DNA, stated, "We are very encouraged by the receipt of this annually recurring order that now comes less than one year from the customer's prior order. Having serviced this customer with multiple gram-scale orders over nearly a decade, we believe we are well positioned to meet the diagnostic industry's growing need for DNA and expand our IVD customer base for greater recurring order-flow."
About Linea™ DNA
Linea™ DNA is an enzymatically produced, linear DNA manufactured by the Company's proprietary, large-scale polymerase chain reaction ("PCR") based manufacturing platform, the Linea™ DNA platform. As an alternative to plasmid-based DNA, Linea DNA can be used in the manufacture of a wide range of nucleic acid-based therapies and in vitro diagnostics, including mRNA therapies, DNA vaccines, cell and gene therapies, as well as molecular and genetic diagnostic tests.
About Applied DNA Sciences
Applied DNA Sciences is a biotechnology company developing technologies to produce and detect deoxyribonucleic acid ("DNA"). Using the polymerase chain reaction ("PCR") to enable both the production and detection of DNA, we operate in three primary business markets: (i) the enzymatic manufacture of synthetic DNA for use in the production of nucleic acid-based therapeutics and the development and sale of a proprietary RNA polymerase ("RNAP") for use in the production of mRNA therapeutics; (ii) the detection of DNA and RNA in molecular diagnostics and genetic testing services; and (iii) the manufacture and detection of DNA for industrial supply chain security services.
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Forward-Looking Statements
The statements made by Applied DNA in this press release may be "forward-looking" in nature within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995. Forward-looking statements describe Applied DNA's future plans, projections, strategies, and expectations, and are based on assumptions and involve a number of risks and uncertainties, many of which are beyond the control of Applied DNA. Actual results could differ materially from those projected due to its history of net losses, limited financial resources, the unknown future demand for its biotherapeutics and/or diagnostic products and services, the unknown amount of revenues and profits that will result from its Linea IVT and or Linea DNA platforms, the fact that there has never been a commercial drug product utilizing PCR-produced DNA technology and/or the Linea IVT platform approved for therapeutic use, and various other factors detailed from time to time in Applied DNA's SEC reports and filings, including its Annual Report on Form 10-K, as amended, filed on December 7, 2023 and Quarterly Report on Form 10-Q filed on February 8, 2024, May 10, 2024, and August 8, 2024 and other reports it files with the SEC, which are available at www.sec.gov. Applied DNA undertakes no obligation to update publicly any forward-looking statements to reflect new information, events, or circumstances after the date hereof or to reflect the occurrence of unanticipated events, unless otherwise required by law.
Contacts:
Investor Relations contact: Sanjay M. Hurry, 917-733-5573, [email protected]
Program contact: Brian Viscount, 631-240-8877, [email protected]
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SOURCE: Applied DNA Sciences