APDN News & Events

Applied DNA Sciences announced up to $58M in commitments for a private investment in public equity, or "PIPE," offering led by institutional investors to initiate a digital asset treasury strategy based on BNB, the native cryptocurrency of the Binance blockchain ecosystem. Following the closing, the company intends to begin deploying funds to acquire BNB, creating a gateway for institutional and retail investors to participate in the BNB blockchain and Binance ecosystem. The company intends to change its ticker symbol to "BNBX" to reflect its strategic focus on its BNB treasury strategy. The company has secured total commitments of $27M, comprised of cash, stablecoin and units of the OBNB Trust in the PIPE with the potential for up to an additional $31M in gross proceeds in future investment from warrant exercises, for total gross proceeds of up to $58M. The closing of the PIPE is expected to occur on or about October 1, subject to the satisfaction of customary closing conditions. To support its BNB treasury strategy the company entered into a five-year Strategic Digital Assets Services Agreement with Cypress to provide discretionary asset management services. In addition, the company entered into a five-year Strategic Advisor Agreement with Cypress Management, an affiliate of Cypress LLC, to provide strategic and technical guidance on business operations relating to its BNB treasury strategy. "The company plans to implement a differentiated digital asset treasury strategy designed to generate additional yield and accumulation of BNB tokens through the integration of actively managed decentralized finance protocols and Binance ecosystem specific strategies. Unlike passive staking or even traditional validator operating strategies, we believe this more active approach is structured to deliver yields materially in excess of other conventional methods, while maintaining a disciplined focus on risk management. The strategy is further strengthened by active engagement within the BNB and Binance ecosystem, employing a sophisticated yield framework that prioritizes stability, scalability, and transparency. By combining robust oversight with innovative on-chain opportunities, the company believes it is positioning its treasury as a driver of sustainable growth and long-term value creation," it stated.

Applied DNA Sciences received a seventh follow-on order valued at more than $600,000 for a multi-gram quantity of LineaDNA. The follow-on order was placed by a global manufacturer of in vitro diagnostics under a long-standing supply agreement for the bulk manufacture of LineaDNA used as a functional component of a cancer diagnostic test. Deliveries are scheduled across four quarterly shipments beginning in the second quarter of fiscal 2026.

Applied DNA Sciences received written notice from The Nasdaq Stock Market informing the Company that it has regained compliance with Nasdaq Listing Rule 5550(a)(2), which requires that companies listed on the Nasdaq Capital Market maintain a minimum bid price of $1.00 per share, and that the Company is therefore in compliance with the Nasdaq Capital Market's listing requirements. Nasdaq also notified the Company in the Compliance Notice that the hearing before the Nasdaq Hearings Panel previously scheduled to take place on July 15, 2025, has been cancelled, and the Company's securities will continue to be listed and traded on The Nasdaq Capital Market.

Applied DNA Sciences announced a strategic restructuring and realignment of resources to focus exclusively on its synthetic DNA manufacturing business, LineaRx. As part of actions undertaken, the Company implemented a workforce reduction of approximately 27% of headcount and has ceased operations at Applied DNA Clinical Labs, a business that provides molecular and genetic testing services, effective June 27, 2025. The Company's actions are intended to substantially reduce its operating costs and concentrate resources behind LineaRx to: enhance the capabilities of LineaRx's LineaDNA and LineaIVT platforms while scaling commercial adoption, expand its service offerings; and (iii) pursue strategic partnerships. LineaRx is advancing platform technologies for the enzymatic manufacture of synthetic DNA and associated enzymes used in the production of DNA- and RNA-based medicines. The workforce reduction represents an approximately 27% reduction in headcount, equating to a projected 23% reduction in annual payroll costs, excluding payroll expenses incurred as a result of the previously announced retirement of the Company's former Chairman and CEO. The projected annual payroll savings is expected to be partially offset by approximately $300 thousand in one-time charges related to the workforce reduction, primarily for separation benefits. The Company expects to incur the majority of workforce reduction-related costs by the end of the fourth quarter of fiscal 2025, excluding expenses associated with the retirement of the Company's former Chairman and CEO. Since initiating its strategic restructuring in December 2024, Applied DNA has exited non-core operations and reduced headcount by 39% for a projected 31% reduction in annual payroll expenses as compared to the fiscal year ended September 30, 2024, excluding costs related to the retirement of the Company's former Chairman and CEO. In addition to the actions reported in this press release, the Company exited its DNA Tagging and Security Products and Services business segment in February 2025 and undertook a workforce reduction of approximately 20% of the then-total headcount, primarily related to employees associated with this segment. The Company ended May 31, 2025, with approximately $4.8 million in cash and cash equivalents.