HomeEquities ScoreWhy Applied DNA Sciences Inc. (APDN) stock face headwinds in the after-hours...

Why Applied DNA Sciences Inc. (APDN) stock face headwinds in the after-hours on Monday?

Applied DNA Sciences Inc. (APDN) shares plummeted 4.46% in after-hours on Monday, November 29, 2021, and closed the daily trading at $5.79. However, in the regular trading session of Monday, APDN’s stock gained 14.34%. APDN shares have fallen 15.60% over the last 12 months, and they have moved up 21.44% in the past week. Over the past three months, the stock has gained 0.66%, while over the past six months, it has gained 4.84%.

Let’s see what are the latest news about the company?


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APDN response on new Covid-19 variant testing

On November 29, 2021, Applied DNA Sciences, Inc. (APDN) announced its COVID-19 diagnostic strategy in response to the emergence of Omicron (B.1.1.529), a newly identified SARS-CoV-2 variant of concern. The Company plans to introduce its Linea 2.0 COVID-19 Assay, a new RT-PCR assay for the SARS-CoV-2 E and N genes that build on the Company’s established COVID-19 line of diagnostics, after submission of its validation data to the New York State Department of Health (NYSDOH) in the next few days.

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The Applied DNA’s EUA-authorized Linea COVID-19 Assay Kit exhibits a unique double S-gene target failure which is specific to the Omicron variant. The Company believes that the combination of mutations that cause the unique double SGTF in the Linea 1.0 Assay is unique to Omicron.

APDN getting more customers and repeat orders for LinearDNA 

On November 15, 2021, Applied DNA Sciences, Inc. (APDN) announced that it is receiving repeat orders from diagnostic customers and a first Contract Research Organization (CRO) order from a new biotherapeutic customer, for LinearDNA.

LinearDNA™ in Non-Viral CAR T Manufacturing Systems

On November 09, 2021, Applied DNA Sciences, Inc. (APDN) announced the publication of a study in Molecular Therapy: Methods and Clinical Development on a methodology for the manufacture of novel types of CAR constructs that employ the Company’s LinearDNA™ as part of a manufacturing process for the efficient generation of CD19-specific CAR T-cells (CAR19 T-cells) based on co-electroporation of a LinearDNA transposon and mRNA encoding of piggyBac transposase. PCR-produced LinearDNA is manufactured by the Company’s majority-owned subsidiary LineaRx, to serve as a pure, fast, and flexible alternative to plasmid DNA (pDNA) for biotherapeutic applications.

APDN and CLEARED4 ready for OSHA

On November 05, 2021, Applied DNA Sciences, Inc. (APDN) and CLEARED4 announced that they are ready to help large employers prepare for compliance with the federally directed OSHA Emergency Temporary Standard (ETS).

Large employers have to make ensure that their workforce is fully vaccinated by January 4, 2022, or require any workers who remain unvaccinated to produce a negative test result on at least a weekly basis before coming to work.

Applied DNA said that it has a turnkey and cost-effective integrated offering to efficiently track employee COVID-19 vaccination status and the provision of fast and accurate weekly pooled COVID-19 testing using the Company’s RT-PCR test.

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Conclusion

The recent response by the company about the testing of the new Covid variant was the reason behind its surging in the regular trading session. But there was no reason behind its after-hours loss on Monday.

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