Street Calls of the Week
STONY BROOK, NY - Applied DNA Sciences, Inc. (NASDAQ:APDN), a biotechnology company with a current market capitalization of $3.85 million and impressive revenue growth of 55.6% over the last twelve months, announced its business development and technical teams will attend two industry conferences in Boston this week to showcase the company’s nucleic acid production solutions.
The biotechnology company will present at the 4th Annual mRNA Process Development and CMC Summit from September 23-25, featuring a poster titled "Fast-tracking mRNA Medicines: a synthetic DNA platform to optimize mRNA production." The company will also highlight its IVT Discovery Kit platform for evaluating and optimizing in vitro transcription. According to InvestingPro analysis, while APDN maintains strong liquidity with a current ratio of 2.76, investors should note the company is currently burning through cash rapidly.
Simultaneously, Applied DNA will participate in the 10th Annual CAR-TCR Summit running September 23-26, where it will present research on CD123-specific CAR-T cells produced using its synthetic LineaDNA-based piggyBac transposon system. This presentation will cover the initiation of a Phase I clinical trial in patients with acute myeloid leukemia.
Applied DNA Sciences focuses on providing nucleic acid production solutions for the biopharmaceutical and diagnostics industries. The company’s platforms include LineaDNA, a cell-free DNA production system using large-scale polymerase chain reaction, and LineaIVT, which combines the company’s DNA technology with its next-generation RNA polymerase. InvestingPro research reveals the company appears undervalued at current prices, with 10+ additional exclusive insights available to subscribers. Get access to the complete financial health analysis and detailed Pro Research Report covering APDN’s market position and growth potential.
The company states its technologies enable the manufacture of high-fidelity synthetic DNA without living cells, which can be used in biotherapeutics manufacturing and as starting material for mRNA therapeutics and vaccines.
According to the press release statement, Applied DNA Sciences operates through its majority-owned subsidiary, LineaRx, Inc., to commercialize its nucleic acid production platforms. The company maintains a healthy balance sheet with more cash than debt, though InvestingPro analysts anticipate challenging conditions ahead with net income expected to decline this year.
In other recent news, Applied DNA Sciences, Inc. has received a follow-on order worth over $600,000 for its LineaDNA product. This order comes from a global manufacturer of in vitro diagnostics and will be used in a cancer diagnostic test. Furthermore, the company has regained compliance with Nasdaq’s minimum bid price requirement, ensuring its continued listing on the Nasdaq Capital Market. As a result, a scheduled hearing before the Nasdaq Hearings Panel has been canceled. In a strategic move, Applied DNA Sciences announced a 27% workforce reduction and the closure of its Applied DNA Clinical Labs business. The company aims to focus on its synthetic DNA manufacturing business, LineaRx. These developments highlight Applied DNA Sciences’ efforts to streamline operations and maintain its market position.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.