Applied DNA Sciences (APDN) came out with quarterly earnings of $0.47 per share, beating the Zacks Consensus Estimate of a loss of $0.64 per share. This compares to loss of $4.80 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 173.44%. A quarter ago, it was expected that this DNA-based security technology company would post a loss of $4.60 per share when it actually produced a loss of $5.31, delivering a surprise of -15.43%.Ov ...

Exhibit 99.1 Applied DNA Announces Third Quarter Fiscal Year 2024 Financial Results - Conference Call/Webcast Scheduled for Today at 4:30 PM ET - STONY BROOK, N.Y. – August 8, 2024 - Applied DNA Sciences, Inc. (NASDAQ: APDN) ("Applied DNA" or the "Company"), a leader in PCR-based DNA technologies, today announced consolidated financial results for its third fiscal quarter ended June 30, 2024. The Company's Form 10-Q can be viewed at https://investors.adnas.com/sec-filings/. Third Quarter Operational Highlig ...

Financial Performance - Total revenues for the three months ended June 30, 2024, were $797,519, a decrease of 72.7% compared to $2,917,341 for the same period in 2023[11]. - Product revenues for the three months ended June 30, 2024, were $246,644, down 22.1% from $316,950 in the prior year[11]. - Clinical laboratory service revenues for the three months ended June 30, 2024, were $324,730, a significant decline from $2,174,697 in the same quarter of 2023[11]. - Gross profit for the three months ended June 30, 2024, was $245,232, compared to $1,269,318 for the same period in 2023, reflecting a decrease of 80.7%[11]. - Total revenue for the nine-month period ended June 30, 2024, was $2,618,313, down 79.2% from $12,587,707 for the same period in 2023[37]. - Gross profit for the nine-month period ended June 30, 2024, was $771,980, significantly lower than $5,454,436 in the same period of 2023[100][103]. - The loss from segment operations for the nine-month period ended June 30, 2024, was $(6,748,159), compared to $(3,395,005) in the same period of 2023, indicating a worsening of approximately 98.1%[100][103]. Expenses and Losses - Operating expenses for the three months ended June 30, 2024, totaled $3,591,925, a decrease of 12.9% from $4,128,427 in the same quarter of 2023[11]. - The company reported a net loss attributable to Applied DNA Sciences, Inc. for the three months ended June 30, 2024, was $1,879,796, compared to a net loss of $(3,099,766) in the same period of 2023[11]. - For the nine-month period ended June 30, 2024, the net loss was $3,774,563, compared to a net loss of $6,407,265 for the same period in 2023, indicating a 41% improvement in losses year-over-year[19]. - The company incurred a net loss of $3,774,563 and generated negative operating cash flow of $10,462,332 for the nine-month period ended June 30, 2024[26]. - Loss from operations increased by $3,971,041 or 59% to $10,753,510 for the nine-month period ended June 30, 2024, compared to $6,782,469 for the same period in 2023[183]. Cash and Assets - Cash and cash equivalents as of June 30, 2024, were $10,442,131, an increase from $7,151,800 as of September 30, 2023[8]. - Total assets as of June 30, 2024, were $16,690,091, up from $13,651,577 as of September 30, 2023[9]. - Total liabilities as of June 30, 2024, were $4,455,636, a decrease from $8,779,165 as of September 30, 2023[9]. - The company had cash, cash equivalents, and restricted cash of $11,192,131 at the end of the period, compared to $11,506,235 at the end of June 30, 2023, showing a decrease of approximately 3%[19]. - Cash flows from operating activities showed a net cash used of $10,462,332 for the nine months ended June 30, 2024, compared to $3,537,911 in the same period of 2023, representing a significant increase in cash outflow[19]. Stock and Shareholder Information - The company reported a weighted average of 4,014,261 shares outstanding for the three months ended June 30, 2024, compared to 645,426 shares in the same period of 2023[11]. - The company issued 724,923 common stock and pre-funded warrants in a public offering, netting $10,525,063, which contributed to financing activities[19]. - A reverse stock split of 1-for-20 was executed on April 25, 2024, affecting all share and warrant information retroactively[22]. - The balance of common shares increased to 10,299,385 as of June 30, 2024, up from 645,426 shares at the beginning of the reporting period[14]. - The company received net proceeds of approximately $10.5 million from the Registered Direct Offering (RDO) closed on May 29, 2024, which helped regain compliance with Nasdaq's stockholders' equity requirement[79]. Revenue Sources and Segments - The company has three reportable segments: Therapeutic DNA Production Services, MDx Testing Services, and DNA Tagging and Security Products and Services[48]. - The company’s revenues for the three and nine-month periods ended June 30, 2024 included 28% and 26% from one customer in the MDx Testing Services segment, respectively[45]. - The company recognized $0 and $40,035 of revenue from contract liabilities for the three and nine-month periods ended June 30, 2024, respectively[40]. - The company’s clinical laboratory testing services revenue for the three-month period ended June 30, 2024 was $13,150, a significant decrease from $1,521,315 in the same period of 2023[34]. Research and Development - Research and development expenses increased by $76,908 or 9% to $913,031 for the three-month period ended June 30, 2024, driven by enzyme development costs[164]. - Research and development expenses decreased by $34,131 or 1% to $2,762,040 for the nine-month period ended June 30, 2024, compared to $2,796,171 for the same period in 2023[175]. - The company is focusing on the development and commercialization of its Therapeutic DNA Production Services, with plans to expand its contract development and manufacturing operations for synthetic DNA[128]. Market and Strategic Developments - The company is focused on developing and commercializing technologies for DNA and RNA production and detection, with recent acquisitions aimed at enhancing its capabilities in mRNA therapeutics[21]. - The company launched its Linea IVT platform in July 2023, which combines its Linea DNA IVT templates with Spindle's proprietary RNAP, potentially increasing its mRNA-related total addressable market by approximately 3-5 times[136]. - The company is currently developing its Linea RNAP under an ISO 13485 quality system to increase production scale and reduce unit costs[136]. - The company is monitoring its business strategy and resource allocation to adapt to available opportunities in its various business markets[128]. Compliance and Regulatory Issues - The company received a notification from Nasdaq regarding non-compliance with the minimum bid price requirement, as the closing bid price was below $1.00 for 30 consecutive business days[113]. - The company plans to implement a reverse stock split to regain compliance with Nasdaq listing requirements, pending shareholder approval[114]. - The FDA's final rule on laboratory developed tests will require compliance with various phases starting May 6, 2025, impacting the company's MDx Testing Services[150]. Risks and Uncertainties - Company highlights risk factors that could materially harm business and financial condition[205]. - Additional uncertainties may adversely affect future results[205]. - The company faces risks related to regulatory approvals and compliance for its Therapeutic DNA Production Services, which are critical to its business strategy[121].

Core Viewpoint - The recent upgrade of Applied DNA Sciences (APDN) to a Zacks Rank 2 (Buy) indicates a positive outlook on its earnings potential, which is expected to drive buying pressure and increase its stock price [1][2]. Earnings Estimates and Stock Price Movement - Changes in a company's future earnings potential, as reflected in earnings estimate revisions, are strongly correlated with near-term stock price movements [3]. - Institutional investors utilize earnings estimates to calculate the fair value of a company's shares, leading to significant stock transactions that influence price movements [3]. Earnings Estimate Revisions for Applied DNA Sciences - For the fiscal year ending September 2024, Applied DNA Sciences is projected to earn -$2.95 per share, representing an 80.6% change from the previous year's reported figure [5]. - Over the past three months, the Zacks Consensus Estimate for Applied DNA Sciences has increased by 76.6%, indicating a positive trend in earnings estimates [5]. Zacks Rating System - The Zacks Rank stock-rating system classifies stocks into five groups based on earnings estimates, with a strong track record of performance, particularly for Zacks Rank 1 stocks, which have generated an average annual return of +25% since 1988 [4]. - The upgrade to Zacks Rank 2 places Applied DNA Sciences in the top 20% of Zacks-covered stocks, suggesting a strong potential for market-beating returns in the near term [6][7].

Applied DNA Sciences (APDN) came out with a quarterly loss of $5.31 per share versus the Zacks Consensus Estimate of a loss of $4.60. This compares to loss of $4 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -15.43%. A quarter ago, it was expected that this DNA-based security technology company would post a loss of $6.20 per share when it actually produced a loss of $1.80, delivering a surprise of 70.97%.Over the last four q ...

Financial Performance - Total revenues for the second quarter of fiscal 2024 were approximately $930 thousand, a decrease of approximately $3.5 million compared to $4.4 million in the same period of fiscal 2023[2]. - Total revenues for the three months ended March 31, 2024, were $929,631, a decrease from $4,407,614 in the same period of 2023, representing a decline of approximately 78.9%[15]. - Gross profit for the three-month period ended March 31, 2024, was $296 thousand, with a gross profit percentage of 32%, down from 41% in the prior fiscal year[3]. - Gross profit for the period was $295,651, down from $1,807,435, indicating a decline of about 83.7%[15]. - Loss from operations was $3.6 million for the second quarter of fiscal 2024, compared to a loss of $2.7 million for the same period in the prior fiscal year[5]. - The net loss attributable to common stockholders was $(4,625,804), compared to a net income of $588,343 in the prior year, representing a significant shift[15]. - The net loss per share attributable to common stockholders was $(5.31), compared to earnings of $0.91 per share in the same quarter of 2023[15]. - Adjusted EBITDA was a negative $3.3 million for the second quarter of fiscal 2024, compared to a negative $2.1 million in the same period of the prior fiscal year[5]. - Consolidated Adjusted EBITDA loss for the three months ended March 31, 2024, was $(3,255,840), compared to a loss of $(2,100,255) in the same period of 2023[17]. Operating Expenses - Operating expenses decreased to $3.9 million for the second quarter of fiscal 2024, compared to $4.5 million in the same period of the prior fiscal year[4]. - Total operating expenses decreased to $3,913,402 from $4,511,459, a reduction of approximately 13.2%[15]. Cash and Financial Position - Cash and cash equivalents stood at $3.1 million on March 31, 2024, down from $7.2 million as of September 30, 2023[5]. - Interest income for the period was $15,352, up from $3,639, indicating an increase of approximately 323.5%[17]. - The company reported a significant unrealized gain on the change in fair value of warrants classified as a liability of $1,765,000, compared to $3,250,900 in the previous year[17]. Business Operations - The company operates in three primary business markets: synthetic DNA manufacturing, molecular diagnostics, and supply chain security services[9]. - The company has faced risks including declining demand for COVID-19 testing services and the need for additional financing for future operations[11]. Corporate Actions - The company filed a Certificate of Amendment for a one-for-twenty reverse stock split effective April 25, 2024[6]. - The company regained compliance with the minimum bid price requirement set forth in Nasdaq Listing Rule 5550(a)(2) as of May 10, 2024[6]. Revenue Breakdown - Product revenues increased to $393,125 from $297,454, reflecting a growth of about 32.2% year-over-year[15]. - Service revenues rose to $205,486 from $169,058, marking an increase of approximately 21.5%[15].

Table of Contents Title of each class Trading Symbol(s) Name of each exchange on which registered Common Stock, $0.001 par value APDN The Nasdaq Stock Market LLC UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Comm ...

The Industrial Products group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is Applied DNA Sciences (APDN) one of those stocks right now? Let's take a closer look at the stock's year-to-date performance to find out.Applied DNA Sciences is a member of our Industrial Products group, which includes 227 different companies and currently sits at #3 in the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in o ...

Financial Data and Key Metrics Changes - Total revenues for Q1 2024 were approximately $891,000, a decline of $4.4 million compared to $5.3 million in the same period last year [5][6] - Gross profit was $231,000 or 26%, down from $2.4 million or 45% in the prior year, primarily due to a higher percentage of COVID-19 testing service revenue in the previous year [6][7] - Operating loss for the first quarter was $3.8 million compared to $1.2 million in the prior fiscal period [8] - Adjusted EBITDA deteriorated by $2.1 million to a negative $3.2 million compared to a negative $1.1 million in the prior fiscal year period [8] Business Line Data and Key Metrics Changes - Clinical laboratory service revenues decreased significantly, contributing approximately $4.2 million to the total revenue decline [5][6] - Service revenues increased by approximately $15,000 year-over-year, driven by demand for isotopic testing within the DNA Tagging and Security Products and Services segment [6] Market Data and Key Metrics Changes - The company is focusing on the biotherapeutics market, particularly in mRNA therapeutics, with approximately 425 mRNA therapies currently in development [15][17] - The establishment of a GMP capacity is crucial for supporting clinical-grade messenger RNA therapeutics, which is expected to come online in the first half of 2024 [15][16] Company Strategy and Development Direction - The primary objective is the commercialization of the Linea IVT and Linea DNA platforms, with a focus on capital allocation to support biotherapeutic goals [11] - The company aims to transition customers to scale-up agreements for Linea IVT templates and RNA polymerase manufactured under applicable GMPs [14][15] - The partnership with Kudo Bio aims to validate the commercial scale-up of the Linea IVT platform [22] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the growing demand for mRNA therapeutics and the company's ability to meet this demand through its unique business model [15][24] - The establishment of a GMP footprint is seen as a significant step towards long-term shareholder value [26] Other Important Information - The company closed a registered direct public offering for gross proceeds of approximately $3.4 million, which will support the establishment of its GMP capacity [9][10] - Cash and cash equivalents totaled $3.4 million as of December 31, 2023, down from $7.2 million on September 30, 2023 [8][9] Q&A Session Summary Question: Can you talk about the CD123 CAR work at the Prague Hematology Institute? - Management highlighted the quality of the scientists involved and the approval process for GMP-grade materials [27] Question: What amount of product is needed for the clinical Phase I trial? - It was estimated that enough material would be needed to treat about 10 patients [29] Question: Can you provide details on Kudo Bio's scale and production? - Kudo Bio is a large player with international facilities and the capability for significant scale in mRNA manufacturing [34][35] Question: What is the customer distribution between the U.S. and international markets? - The majority of customers are currently U.S.-based, with expectations for increased international customer engagement [41][42] Question: What assumptions underlie the projected $15 million annual revenue for Linea IVT? - The projection is based on slightly greater than 100% utilization of the facility, with plans for accommodating increased customer demand [43][44] Question: How does the company benchmark against competitors in production speed? - The company is exceeding turnaround times compared to other enzymatic manufacturers in the scale-up process [48][49]

Applied DNA Sciences (APDN) came out with a quarterly loss of $0.09 per share versus the Zacks Consensus Estimate of a loss of $0.31. This compares to loss of $0.14 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 70.97%. A quarter ago, it was expected that this DNA-based security technology company would post a loss of $0.27 per share when it actually produced a loss of $0.26, delivering a surprise of 3.70%.Over the last four ...