Applied DNA Announces Receipt of Largest Single Purchase Order for LinearDNA™ To-Date
October 10 2022 - 9:45AM
Business Wire
Applied DNA Sciences, Inc. (NASDAQ: APDN) (the “Company”), a
leader in PCR-based DNA technologies, announced today that it
received its largest single purchase order for LinearDNA™ valued
above the mid-six-figures. The order was placed under a
long-standing supply agreement for the bulk manufacture of
LinearDNA for a global manufacturer of in vitro diagnostics. Under
the terms of the repeat order, the Company will deliver quantities
of LinearDNA to the customer in the current quarter, with the full
order expected to be fulfilled over the subsequent three
quarters.
LinearDNA is produced using an enzymatic (cell-free)
manufacturing platform that eliminates the use of fermenters and
bacteria required by plasmid DNA, the industry’s current
manufacturing standard for DNA. LinearDNA eliminates many of the
challenges associated with current plasmid-based DNA manufacturing
and produces a DNA product without the risks of bacterial
contamination and non-target DNA sequences. The enzymatic process
provides the means to optimize a customer-specific chemistry and
sequence of LinearDNA. This capability has been leveraged for
diagnostic applications, including today's announced repeat order,
and is commonly used when customers order LinearDNA for use as IVT
templates for RNA production.
Dr. James A. Hayward, president and CEO of Applied DNA, said,
“The application of DNA-based probes in molecular diagnostics is
rapidly expanding to give the industry powerful new tools to
enhance the diagnosis of infectious diseases, genetic disorders,
and malignancies. Our proprietary enzymatic approach to
manufacturing DNA via PCR underpins our ability to produce DNA more
efficiently and rapidly relative to other DNA production methods
and at scale. Applying this capacity also to the manufacture of
therapeutic DNA for the next generation of genetic medicines, we
believe LinearDNA sits at the intersection of two growing life
sciences segments that hold the potential to transform human
health.”
About Applied DNA Sciences
Applied DNA Sciences is a biotechnology company developing
technologies to produce and detect deoxyribonucleic acid (“DNA”).
Using PCR to enable both the production and detection of DNA, we
operate in three primary business markets: (i) the manufacture of
DNA for use in nucleic acid-based therapeutics; (ii) the detection
of DNA in molecular diagnostics testing services; and (iii) the
manufacture and detection of DNA for industrial supply chain
security services.
Visit adnas.com for more information. Follow us on Twitter and
LinkedIn. Join our mailing list.
The Company’s common stock is listed on NASDAQ under the ticker
symbol ‘APDN,’ and its publicly traded warrants are listed on OTC
under the ticker symbol ‘APPDW.’
Forward-Looking Statements
The statements made by Applied DNA in this press release may be
“forward-looking” in nature within the meaning of Section 27A of
the Securities Act of 1933, Section 21E of the Securities Exchange
Act of 1934 and 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 history of
net losses, limited financial resources and limited market
acceptance. Further, the uncertainties inherent in research and
development, future data and analysis, including whether any of
Applied DNA or it customer’s current or future diagnostic
candidates will advance further in the research and/or validation
process or receiving authorization, clearance or approval from the
FDA, equivalent foreign regulatory agencies and/or the New York
State Department of Health (NYSDOH), and whether and when, if at
all, they will receive final authorization, clearance or approval
from the FDA, equivalent foreign regulatory agencies and/or NYSDOH,
the unknown outcome of any applications or requests to FDA,
equivalent foreign regulatory agencies and/or the NYSDOH,
disruptions in the supply of raw materials and supplies, the fact
that there has never been a commercial drug product utilizing
PCR-produced DNA technology approved for therapeutic use, 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 9, 2021, its Quarterly Report on Form 10-Qs filed
on February 10, 2022, May 12, 2022, and August 11, 2022, 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.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20221010005187/en/
Corporate: Investor Relations: Sanjay M. Hurry,
917-733-5573, sanjay.hurry@adnas.com LineaRx Program: Brian
Viscount, 631-240-8877, brian.viscount@adnas.com Web:
www.adnas.com Twitter: @APDN
Applied DNA Sciences (NASDAQ:APDN)
Historical Stock Chart
From Aug 2024 to Sep 2024
Applied DNA Sciences (NASDAQ:APDN)
Historical Stock Chart
From Sep 2023 to Sep 2024