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Applied DNA Sciences Inc . (NASDAQ:APDN), a micro-cap testing laboratory company with a market capitalization of $1.83 million, has scheduled its 2025 Annual Meeting of Stockholders for May 22, 2025. The announcement comes as the company’s stock has experienced significant volatility, declining over 90% in the past six months. According to InvestingPro analysis, the company maintains a stronger cash position than debt on its balance sheet. The announcement, made on March 30, 2025, stated that the meeting will be held virtually, allowing stockholders to participate remotely. The virtual meeting precedes the company’s next earnings report, scheduled for May 9, 2025. InvestingPro subscribers can access comprehensive financial health metrics and 16 additional ProTips to better understand the company’s current position.
The record date for determining stockholders eligible to vote at the meeting is set for April 3, 2025. The company noted that the date of the meeting has shifted by more than 30 days compared to the previous year’s meeting, which necessitates a new deadline for stockholder proposals and nominations. This timing adjustment comes as InvestingPro data indicates the company faces some financial challenges, with an overall Financial Health Score rated as WEAK.
Stockholders interested in submitting proposals for inclusion in the proxy materials must do so by April 11, 2025. This deadline is also applicable for stockholders aiming to nominate directors or propose other matters for consideration at the meeting, but not in accordance with Rule 14a-8. Proposals must adhere to the rules of the Securities and Exchange Commission, Delaware General Corporation Law, and the company’s bylaws.
The company reserves the right to change the record date or meeting date if necessary. Any submissions received after the April 11 deadline will be considered untimely and will not be featured in the proxy materials nor discussed at the meeting.
This information is based on a press release statement filed with the Securities and Exchange Commission.
In other recent news, Applied DNA Sciences has announced a strategic shift in its clinical laboratory subsidiary, Applied DNA Clinical Labs (ADCL). The company is now concentrating its TR8™ PGx pharmacogenomics testing service on subpanels for indication-specific use cases, starting with a subpanel targeting patients with genetic variants of the DPYD gene. This decision aligns with a recent FDA safety announcement concerning the risks of severe toxicities from certain chemotherapy drugs in patients with specific DPYD genetic variants. In another development, Applied DNA has submitted a validation package to the New York State Department of Health for its Linea™ Avian Influenza H5 Dx assay, a test designed to detect the H5 bird flu virus. Approval of this test would allow ADCL to offer it to physicians across states recognizing New York’s CLEP/CLIA certification.
Applied DNA Sciences has also announced a 1-for-50 reverse stock split to comply with Nasdaq’s minimum bid price requirement, effective March 14, 2025. This corporate action follows stockholder approval to amend the certificate of incorporation for a reverse stock split. Additionally, the company faced a setback as it failed to secure a quorum at a special stockholder meeting, impacting the approval of certain proposals related to an earlier stock offering. The company plans to reconvene the meeting to obtain the necessary stockholder approval for the exercise of private placement warrants. These recent developments highlight Applied DNA’s ongoing efforts to advance its strategic initiatives and comply with regulatory requirements.
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