Applied DNA Sciences Receives Initial Order to Tag Cotton for the Upcoming 2017/2018 US Cotton Ginning Season
June 23 2017 - 4:09PM
Business Wire
Applied DNA Sciences, Inc. (“Applied DNA,” “the company,”
NASDAQ: APDN), is pleased to announce it has received an order to
tag 27.5 million pounds of cotton to kick off the 2017/2018 ginning
season, composed of three US cotton varietals. The three varietals
are Pima, Delta and Acala, which fall under the Pimacott®, HomeGrown™ LoneStar™ and HomeGrown
Acala™ programs. The company expects to ship SigNature® T DNA to
mark 27.5 million pounds of cotton before the end of June.
“Now in our third season, Applied DNA’s SigNature T DNA has been
meeting the need for supply chain traceability, transparency and
trust within the cotton industry ecosystem with national retailers,
their supply chain partners, and consumers. We are proud to
continue to tag, test and track cotton for the 2017/2018 ginning
season.” stated Dr. James A. Hayward, President and CEO of Applied
DNA. “This order demonstrates our success in further entrenching
SigNature T DNA in an established revenue-generating vertical and
in extending the adoption of our proven technology platform.
Although we cannot predict the timing of follow-on orders,
conversations with our customers lead us to believe that additional
opportunities to tag cotton during the 2017/2018 ginning season are
likely.”
For this order, the customer has agreed to more customary and
favorable payment terms, allowing for earlier revenue recognition
than past cotton orders. This new order is incremental to DNA
concentrate to tag 30 million pounds of cotton that was shipped
during fiscal 2016 to establish an on-site reserve of SigNature T
DNA before the harvest begins.
About Applied DNA
Applied DNA is a provider of molecular technologies that enable
supply chain security, anti-counterfeiting and anti-theft
technology, product genotyping and DNA mass production for
diagnostics and therapeutics.
We make life real and safe by providing innovative,
molecular-based technology solutions and services that can help
protect products, brands, entire supply chains, and intellectual
property of companies, governments and consumers from theft,
counterfeiting, fraud and diversion. The proprietary DNA-based
“CertainT™” platform can be used to identify, tag, test, and track
products, to help assure authenticity, origin, traceability,
sustainability and quality of products. SigNature® DNA describes
the core technology ingredient that is at the heart of a family of
uncopyable, security and authentication solutions such as
SigNature® T and fiberTyping®, targeted toward textiles and
apparel, BackTrac™ and DNAnet®, for anti-theft and loss prevention,
and digitalDNA®, providing powerful track-and-trace. All provide a
forensic chain of evidence, and can be used to prosecute
perpetrators. Applied DNA Sciences is also engaged in the
large-scale production of specific DNA sequences using the
polymerase chain reaction.
Visit adnas.com for more information. Follow us on Twitter and
LinkedIn. Join our mailing list.
Common stock listed on NASDAQ under the symbol APDN, and
warrants are listed under the symbol APDNW.
Forward-Looking Statements
The statements made by APDN in this press release may be
“forward-looking” in nature within the meaning of the Private
Securities Litigation Act of 1995. Forward-looking statements
describe APDN’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
APDN. Actual results could differ materially from those projected
due to our short operating history, limited financial resources,
limited market acceptance, market competition and various other
factors detailed from time to time in APDN’s SEC reports and
filings, including our Annual Report on Form 10-K filed on December
6, 2016, and our subsequent quarterly reports on Form 10-Q filed on
February 9, 2017, and May 11, 2017 which are available at
www.sec.gov. APDN undertakes no obligation to update publicly any
forward-looking statements to reflect new information, events or
circumstances after the date hereof to reflect the occurrence of
unanticipated events, unless otherwise required by law.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20170623005643/en/
Investors:LHAISanjay Hurry,
212-838-3777orMedia:CGPRAngie
Mathews, 714-768-1140orProgram Contact:MeiLin Wan,
631-240-8849web: www.adnas.comtwitter: @APDN
Applied DNA Sciences (NASDAQ:APDN)
Historical Stock Chart
From Mar 2024 to Apr 2024
Applied DNA Sciences (NASDAQ:APDN)
Historical Stock Chart
From Apr 2023 to Apr 2024