Why Applied DNA Sciences Inc. (APDN) stock had a bad Friday?

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Applied DNA Sciences Inc. (APDN) shares fell 5.27% in after-hours on Friday, July 16, 2021, at $5.03 per share. Earlier, APDN’s stock lost 2.93% in Friday’s morning session and closed at $5.31. APDN shares have declined 40.93% over the last 12 months, and they have moved down 8.92% in the past week. Over the past three months, the stock has lost 15.71%, while over the past six months, it has plummeted 40.40%.

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Let’s see what are the latest news and developments about APDN?


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Securing sewing thread lines

On July 8, 2021, Applied DNA Sciences, Inc announced the availability of A&E’s INTEGRITY™ advanced identification thread technology, for its ECO100 recycled sewing thread line.

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INTEGRITY™ ECO100provides an innovative and economical solution for brands to authenticate and validate their products anywhere within the supply chain by way of a common component – sewing thread

Veterinary COVID-19 Vaccine results

On July 7, 2021, Applied DNA Sciences Inc and its program development partner, Evvivax S.R.L. announced results from an in vitro neutralization study of sera evaluating the company’s COVID-19 vaccine in felines.

The study showed neutralizing antibody titers against B.1.1.7 were not significantly impacted while neutralizing antibody titers against P1 and B.1.526 were reduced as expected and consistent with other CDC-reported data on vaccine-induced antibody neutralization against these variants. The Company believes these expected reductions in viral neutralization titers against P1 and B.1.526 are unlikely to lead to a significant reduction in the effectiveness of the vaccine candidate against these variants in domestic felines and other veterinary applications, such as farmed mink.

COVID-19 surveillance testing contract with Camp Chateaugay

On June 2, 2021, Applied DNA Sciences secured a safe circle pooled COVID-19 surveillance testing contract with Camp Chateaugay. The newest client reflects the service’s focus on profitable niche markets for COVID-19 testing and the re-opening of venues for sales opportunities in which routine COVID-19 pooled surveillance testing would lower the risk of virus spread as vaccinated and under-vaccinated populations come into close contact.

Camp Chateaugay is an overnight summer camp program for teens and kids based in New York’s Adirondack Mountain region.

Completion of technical validation of all seven RUO mutation detection assays

On May 26, 2021, Applied DNA Sciences completed technical validation of all seven Research Use Only (RUO) mutation detection assays contained in its Linea™ COVID-19 Selective Genomic Surveillance™ (SGS) Mutation Panel across 125 COVID-19 positive clinical samples known to include COVID-19 variants.

The results showed 100% concordance when compared to the results of Whole Genome Sequencing (WGS) of the same samples. The SGS Panel can be run in hours and can utilize the same extracted viral RNA that was used to obtain the original COVID-19 diagnosis.

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Conclusion

Well, at the moment we have no such news which could be the reason behind its bad performance on Friday but according to its recent news, we can expect it to perform well in the coming days.

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