Applied DNA Sciences, Inc. (NASDAQ: APDN) a producer of pre-clinical nucleic acid-based therapeutic drugs, recently reported being a part of a pro bono Material Transfer Agreement (MTA) that provides an instantaneous surveillance program for lookout and inspection of SARS-CoV-2 mutated strains and unique variants of the virus in Northwell’s COVID-positive specimens.
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The plan of action presently conclude the analysis of over 2,000 samples, with preliminary results from almost 360 specimens showing that a staggering 80% of samples tested on APND qPCR assays consist of one mutation at least.
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Stats produced from the program will allow Northwell to make more effective use of the expensive and gradual process in next-generation sequencing (NGS) essential to adequately identify particular VoCs and their prior forms.
APDN Purchase Order Had A Sudden Surge
APDN reported a purchase order for its Linea™ COVID-19 Assay Kit for provision of 10,000 tests, With the balance to be delivered in the following fiscal year. Linea has been offering surveillance testing keeping in accordance CDC, FDA, and CMS guidelines. Pooled Sampling for virus detection, which was regulated by the company in regards to testing guidance.
However, LinearDNA does not solely produce biological products with a diversified product line such as supply chain security, pharmaceuticals and cannabis.
Applied DNA Sciences also announced Q1 sales of $1.62 million. Earnings decreased and produced a loss of $2.97 million, hence a 26.64% plummet compared to the previous quarter. In Q4, APDN generateds$314.00 thousand in sales, however, lost an accumulated $4.05 million in earnings.
APDN has invested in the lucrative field of virus sampling and testing amidst a pandemic. A substantial increase in the stock price since the start of the year is a positive sign in terms of revenue and has been a healthy indicator for the company’s future valuation.