Applied DNA Receives Extension from Nasdaq
October 03 2019 - 5:00AM
Business Wire
Applied DNA Sciences, Inc. (NASDAQ: APDN) (“Applied DNA”) (“we,”
“us,” “our,” the “Company”), a leader in large-scale PCR-based DNA
manufacturing, today announced that the Nasdaq Hearings Panel (the
“Panel”), has granted Applied DNA’s request for an extension
through December 31, 2019, to comply with all applicable criteria
for continued listing of the Company’s securities on The Nasdaq
Capital Market (“Nasdaq”), including the minimum $1.00 bid price
and $2.5 million stockholders’ equity requirements. During the
extension, Applied DNA’s securities will remain listed on
Nasdaq.
“We are appreciative of the Nasdaq Hearings Panel’s decision to
grant us our requested extension to evidence compliance with all
applicable requirements for continued listing on Nasdaq. The
management team and Board of Directors place the highest priority
on our continued listing, and we want to assure all stakeholders
that we continue to work diligently on executing on our compliance
plan,” stated Dr. James A. Hayward, president and CEO of Applied
DNA.
The Company is diligently working to comply with the minimum
$1.00 bid price and $2.5 million stockholders’ equity requirements;
however, there can be no assurance that the Company will be able to
regain compliance with the applicable listing criteria within the
period granted by the Panel.
About Applied DNA Sciences
Applied DNA is a provider of molecular technologies that enable
supply chain security, anti-counterfeiting and anti-theft
technology, product genotyping and pre-clinical nucleic acid-based
therapeutic drug candidates.
Applied DNA makes 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.
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 Applied DNA in this press release may be
“forward-looking” in nature within the meaning of 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 ability to continue as a
going concern, its history of net losses, limited financial
resources, limited market acceptance, uncertainties relating to its
ability to maintain its NASDAQ listing in light of delisting
notices received, and various other factors detailed from time to
time in Applied DNA’s SEC reports and filings, including our Annual
Report on Form 10-K filed on December 18, 2018, as amended, our
subsequent quarterly reports on Form 10-Q filed on February 7,
2019, May 9, 2019 and August 13, 2019, and other reports we file
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.
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version on businesswire.com: https://www.businesswire.com/news/home/20191003005070/en/
Investors: Sanjay M. Hurry, LHA Investor Relations,
212-838-3777, shurry@lhai.com web: www.adnas.com twitter:
@APDN
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