Applied DNA Reports First Quarter Fiscal 2025 Financial Results

Applied DNA Sciences, Inc. announced substantial changes in its operational strategy for the first quarter of fiscal 2025, ending December 31, 2024. The company has exited its DNA Tagging segment and reduced its workforce by 20%, intending to cut annual payroll costs by 13%. Despite a net loss of $2.7 million, revenues rose by 34% to $1.2 million compared to the previous year.

The company completed its initial GMP facility in Stony Brook, New York. Certified for commercial operations, the facility supports DNA manufacturing for mRNA production, projecting potential revenues between $10 million and $30 million. Applied DNA has also secured clinical validation for its Linea DNA platform in a CAR-T therapy trial in the Czech Republic.

The company aims to expand its genetic testing services nationwide and plans to discuss its restructuring efforts and operational roadmap in a webcast scheduled for February 13, 2025.