Applied DNA Sciences Faces Nasdaq Delisting Warning

TL;DR

Nasdaq says APDN's stock price is too low, they have until Jan 8 to fix it or get booted.

AI Summary

Applied DNA Sciences, Inc. received a notification on July 12, 2024, from The Nasdaq Stock Market indicating that the company is not in compliance with the minimum bid price requirement for continued listing. The company has 180 calendar days, until January 8, 2025, to regain compliance by achieving a minimum closing bid price of $1.00 per share for at least 10 consecutive business days.

Why It Matters

This delisting warning could negatively impact investor confidence and the company's ability to raise capital, potentially affecting its operational capacity.

Risk Assessment

Risk Level: high — The company is at high risk due to failing to meet Nasdaq's minimum bid price requirement, which could lead to delisting.

Key Numbers

• 180 — Days to regain compliance (The company has this period to meet the minimum bid price requirement.)
• $1.00 — Minimum bid price (The stock price must reach this level for 10 consecutive business days.)

Key Players & Entities

• Applied DNA Sciences, Inc. (company) — Registrant
• The Nasdaq Stock Market (company) — Listing Exchange
• January 8, 2025 (date) — Compliance Deadline
• $1.00 (dollar_amount) — Minimum Bid Price Requirement

FAQ

Key Financial Figures

• $0.001 — nge on which registered Common Stock, $0.001 par value APDN The Nasdaq Stock Mar
• $1.00 — ties to maintain a minimum bid price of $1.00 per share, and Nasdaq Listing Rule 5810

Filing Documents

• tm2419472d1_8k.htm (8-K) — 25KB
• 0001104659-24-079875.txt ( ) — 193KB
• apdn-20240712.xsd (EX-101.SCH) — 3KB
• apdn-20240712_lab.xml (EX-101.LAB) — 33KB
• apdn-20240712_pre.xml (EX-101.PRE) — 22KB
• tm2419472d1_8k_htm.xml (XML) — 3KB

01. Notice of Delisting or Failure to

Item 3.01. Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing. On July 12, 2024, Applied DNA Sciences, Inc. (the "Company") received written notice (the "Notification Letter") from the Listing Qualifications Department of The Nasdaq Stock Market LLC ("Nasdaq") notifying the Company that it is not in compliance with the minimum bid price requirements set forth in Nasdaq Listing Rule 5550(a)(2) for continued listing on The Nasdaq Capital Market. Nasdaq Listing Rule 5550(a)(2) requires listed securities to maintain a minimum bid price of $1.00 per share, and Nasdaq Listing Rule 5810(c)(3)(A) provides that a failure to meet the minimum bid price requirement exists if the deficiency continues for a period of thirty (30) consecutive business days. Based on the closing bid price of the Company's common stock for the thirty (30) consecutive business days from May 28, 2024 to July 11, 2024, the Company no longer meets the minimum bid price requirement. The Notification Letter does not impact the Company's listing on The Nasdaq Capital Market at this time. The Notification Letter states that the Company has 180 calendar days, or until January 8, 2025, to regain compliance with Nasdaq Listing Rule 5550(a)(2). To regain compliance, the bid price of the Company's common stock must have a closing bid price of at least $1.00 per share for a minimum of ten (10) consecutive business days. If the Company does not regain compliance with Nasdaq Listing Rule 5550(a)(2) by January 8, 2025, the Company may be eligible for an additional 180 calendar day compliance period. To qualify, the Company would be required to meet the continued listing requirement for market value of publicly held shares and all other initial listing standards for The Nasdaq Capital Market, with the exception of the bid price requirement, and would need to provide written notice of its intention to cure the deficiency during the second compliance period, by effecti

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Date: July 15, 2024 APPLIED DNA SCIENCES, INC. By: /s/ James A. Hayward Name: James A. Hayward Title: President and Chief Executive Officer

View Full Filing

View this 8-K filing on SEC EDGAR