Applied DNA Sciences Inc. reported its financial results for the second quarter of fiscal 2025, ending March 31, 2025. The company's total revenues amounted to $983 thousand, a slight increase from $930 thousand in the same period of fiscal 2024. The Therapeutic DNA Production Services segment, LineaRx, reported a 44% year-over-year increase in revenues, driven by significant shipments to large-scale DNA manufacturing customers. Conversely, the MDx Testing Services segment saw a 33% decline in revenues due to reduced COVID-19 surveillance testing. The company recorded an operating loss of $3.5 million, a marginal improvement from the $3.6 million loss in the second quarter of fiscal 2024. The net loss for the quarter was $3.3 million, showing improvement from a net loss of $4.5 million in the same period of the previous year, primarily due to the absence of a loss on the issuance of warrants that occurred previously. Applied DNA highlighted recent corporate and operational updates, including the validation of its GMP Site 1 manufacturing operations, which are expected to support near-term manufacturing needs with an annual revenue capacity between $10 million and $30 million, depending on the product mix and pricing. The company also added new customers and received follow-on orders from existing ones, particularly in the Research Use Only (RUO)-grade LineaDNA products. Looking forward, the company is nearing the completion of a proprietary enzyme and buffer system aimed at enhancing LinearDNA's performance. Large-scale manufacturing of this system is expected to begin in June 2025. Additionally, Applied DNA plans to launch LineaPCR™ in the fourth quarter of 2025, allowing customers to self-manufacture LineaDNA, and LineaDNA IVT Evaluation Kits to promote the LineaIVT platform.
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