S& P 500 hits all time highs U.S.-Japan trade deal optimism
STONY BROOK, NY - Applied DNA Sciences, Inc. (NASDAQ:APDN), a micro-cap biotechnology company with a market capitalization of $2.41 million, announced Monday that it has regained compliance with Nasdaq’s minimum bid price requirement, ensuring its continued listing on the Nasdaq Capital Market.
The biotechnology company received written notice from Nasdaq on July 2 confirming it meets the $1.00 minimum bid price requirement under Listing Rule 5550(a)(2). As a result, the previously scheduled hearing before the Nasdaq Hearings Panel on July 15 has been cancelled. According to InvestingPro data, the stock has fallen over 97% in the past six months, though current analysis suggests the stock may be undervalued.
Applied DNA Sciences, which specializes in PCR-based DNA technologies, will continue to have its securities listed and traded on the Nasdaq Capital Market without interruption.
The company, through its majority-owned subsidiary LineaRx Inc., focuses on commercializing its LineaDNA and LineaIVT platforms for manufacturing nucleic acid-based therapies.
In recent financial filings, the company had disclosed concerns about its ability to continue as a going concern due to its history of net losses and limited financial resources.
The information in this article is based on a company press release statement.
In other recent news, Applied DNA Sciences has announced a strategic restructuring that involves reducing its workforce by 27% and closing its Applied DNA Clinical Labs business. This move is part of the company’s shift to focus on its synthetic DNA manufacturing business, LineaRx. In a related development, Judy Murrah has been appointed as the new Chairperson and CEO following the retirement of Dr. James A. Hayward. The company also faced a potential delisting from Nasdaq due to non-compliance with the minimum bid price rule but has since regained compliance after executing a 1-for-15 reverse stock split. Applied DNA has secured a U.S.-based supply chain for key materials for its LineaDNA™ and LineaIVT™ platforms, aligning with industry trends for domestic sourcing. The company reported cash and cash equivalents of approximately $4.8 million as of May 31, 2025. Additionally, Applied DNA’s LineaRx has been focusing on market expansion, driven by increasing demand for enzymatically produced DNA in genetic medicines. These developments underscore the company’s efforts to realign its business priorities and maintain its Nasdaq listing.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.