Applied DNA Sciences Files 2024 10-K

Ticker: BNBX · Form: 10-K · Filed: Dec 17, 2024 · CIK: 744452

Sentiment: neutral

Topics: 10-K, financials, testing-laboratories

TL;DR

APDN filed its 2024 10-K. Financials are in. Check it out.

AI Summary

Applied DNA Sciences Inc. filed its 10-K for the fiscal year ending September 30, 2024. The company, headquartered in Stony Brook, NY, reported financial data for the period. Key financial figures and operational details are outlined in the filing, which also includes historical company name changes.

Why It Matters

This filing provides a comprehensive overview of Applied DNA Sciences' financial health and operational status for the past fiscal year, crucial for investors and stakeholders to assess performance and future prospects.

Risk Assessment

Risk Level: medium — 10-K filings often contain detailed financial information and risk factors that can significantly impact a company's stock price.

Key Numbers

Key Players & Entities

FAQ

What was Applied DNA Sciences Inc.'s total revenue for the fiscal year ending September 30, 2024?

The provided text does not explicitly state the total revenue for the fiscal year ending September 30, 2024. It lists total assets as 682,926 and total liabilities as 10,311,885.

When was Applied DNA Sciences Inc. incorporated or last significantly restructured?

The filing indicates several past company name changes, including PROHEALTH MEDICAL TECHNOLOGIES INC (20010504), DCC ACQUISITION CORP (19990211), and DATALINK CAPITAL CORP/TX/ (19980306), suggesting a history of restructuring or acquisitions.

What is the company's primary business segment as indicated by its SIC code?

The company's Standard Industrial Classification (SIC) code is 8734, which corresponds to SERVICES-TESTING LABORATORIES.

What is the filing date of this 10-K report?

This 10-K report was filed on December 17, 2024.

What is the company's fiscal year end date?

The company's fiscal year end date is September 30.

Filing Stats: 4,434 words · 18 min read · ~15 pages · Grade level 18.4 · Accepted 2024-12-17 16:40:00

Key Financial Figures

Filing Documents

BUSINESS

BUSINESS 5 ITEM 1A.

RISK FACTORS

RISK FACTORS 17 ITEM 1B. UNRESOLVED STAFF COMMENTS 35 ITEM 1C CYBERSECURITY 35 ITEM 2.

PROPERTIES

PROPERTIES 36 ITEM 3.

LEGAL PROCEEDINGS

LEGAL PROCEEDINGS 36 ITEM 4. MINE SAFETY DISCLOSURES 36 PART II ITEM 5. MARKET FOR COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES 36 ITEM 6. RESERVED 37 ITEM 7.

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS 37 ITEM 7A.

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 51 ITEM 8.

FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA 51 ITEM 9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE 51 ITEM 9A.

CONTROLS AND PROCEDURES

CONTROLS AND PROCEDURES 51 ITEM 9B. OTHER INFORMATION 52 ITEM 9C DISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENT INSPECTIONS 52 PART III ITEM 10. DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE 53 ITEM 11.

EXECUTIVE COMPENSATION

EXECUTIVE COMPENSATION 57 ITEM 12.

SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS

SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS 63 ITEM 13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR INDEPENDENCE 66 ITEM 14. PRINCIPAL ACCOUNTING FEES AND SERVICES 67 PART IV ITEM 15. EXHIBITS AND FINANCIAL STATEMENT SCHEDULES 68 ITEM 16 . FORM 10-K SUMMARY 68 2 Table of Contents PART I Forward-looking Information This Annual Report on Form 10-K (including but not limited to Item 7, "Management's Discussion and Analysis of Financial Condition and Results of Operations") contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), that are intended to qualify for the "safe harbor" created by those sections. In addition, we may make forward-looking statements in other documents filed with or furnished to the Securities and Exchange Commission ("SEC"), and our management and other representatives may make forward-looking statements orally or in writing to analysts, investors, representatives of the media and others. These statements relate to future events or to our future operating or financial performance and involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements to be materially different from any future results, performances or achievements expressed or implied by the forward-looking statements. Forward-looking statements can generally be identified by the fact that they do not relate strictly to historical or current facts and include, but are not limited to, statements using terminology such as "can", "may", "could", "should", "assume", "forecasts", "believe", "designed to", "will", "expect", "plan", "anticipate", "estimate", "potential", "position", "predicts", "strategy", "guidance", "intend", "budget", "seek", "project" or "con

BUSINESS

ITEM 1. BUSINESS. Overview We are a biotechnology company developing and commercializing technologies to produce and detect deoxyribonucleic acid ("DNA") and ribonucleic acid ("RNA"). Using polymerase chain reaction ("PCR") to enable the production and detection of DNA and RNA, we currently operate in three primary business markets: (i) the enzymatic manufacture of synthetic DNA for use in the production of nucleic acid-based therapeutics (including biologics and drugs), as well as the development and sale of a proprietary RNA polymerase ("RNAP") for use in the production of messenger RNA ("mRNA") therapeutics ("Therapeutic DNA Production Services"); (ii) the detection of DNA and RNA in molecular diagnostics and genetic testing services ("MDx Testing Services"); and (iii) the manufacture and detection of DNA for industrial supply chains and security services ("DNA Tagging and Security Products and Services"). Our current growth strategy is to primarily focus our resources on the further development, commercialization, and customer adoption of our Therapeutic DNA Production Services, including the expansion of our contract development and manufacturing operation ("CDMO") for the manufacture of synthetic DNA and associated enzymes for use in the production of nucleic acid-based therapies. We will continue to update our business strategy and monitor the use of our resources regarding our various business segments. The Company's management is currently engaged in a strategic review of the Company's business segments that may result in the closure or divestiture of the Company's DNA Tagging and Security Products and Services and/or MDx Testing Services, as well as workforce reductions and potential management changes. To this end, on December 17, 2024, the Company announced it is exploring the potential divestiture of its DNA Tagging and Security Products and Services business segment. No assurance can be given that a divestiture will be completed. Further, the def

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