STONY BROOK, N.Y. -- (Business Wire)
Applied
DNA Sciences, Inc. (“Applied DNA,” “the company,” NASDAQ: APDN), is
pleased to announce it has received an order to tag 27.5 million pounds
of cotton to kick off the 2017/2018 ginning season, composed of three US
cotton varietals. The three varietals are Pima, Delta and Acala, which
fall under the Pimacott®,
HomeGrown™ LoneStar™ and HomeGrown Acala™ programs. The company expects
to ship SigNature® T DNA to mark 27.5 million pounds of
cotton before the end of June.
“Now in our third season, Applied DNA’s SigNature T DNA has been meeting
the need for supply chain traceability, transparency and trust within
the cotton industry ecosystem with national retailers, their supply
chain partners, and consumers. We are proud to continue to tag, test and
track cotton for the 2017/2018 ginning season.” stated Dr. James A.
Hayward, President and CEO of Applied DNA. “This order demonstrates our
success in further entrenching SigNature T DNA in an established
revenue-generating vertical and in extending the adoption of our proven
technology platform. Although we cannot predict the timing of follow-on
orders, conversations with our customers lead us to believe that
additional opportunities to tag cotton during the 2017/2018 ginning
season are likely.”
For this order, the customer has agreed to more customary and favorable
payment terms, allowing for earlier revenue recognition than past cotton
orders. This new order is incremental to DNA concentrate to tag 30
million pounds of cotton that was shipped during fiscal 2016 to
establish an on-site reserve of SigNature T DNA before the harvest
begins.
About Applied DNA
Applied DNA is a provider of molecular technologies that enable supply
chain security, anti-counterfeiting and anti-theft technology, product
genotyping and DNA mass production for diagnostics and therapeutics.
We make life real and safe by providing innovative, molecular-based
technology solutions and services that can help protect products,
brands, entire supply chains, and intellectual property of companies,
governments and consumers from theft, counterfeiting, fraud and
diversion. The proprietary DNA-based “CertainT™” platform can be used to
identify, tag, test, and track products, to help assure authenticity,
origin, traceability, sustainability and quality of products. SigNature®
DNA describes the core technology ingredient that is at the heart of a
family of uncopyable, security and authentication solutions such as
SigNature® T and fiberTyping®, targeted toward
textiles and apparel, BackTrac™ and DNAnet®, for anti-theft
and loss prevention, and digitalDNA®, providing powerful
track-and-trace. All provide a forensic chain of evidence, and can be
used to prosecute perpetrators. Applied DNA Sciences is also engaged in
the large-scale production of specific DNA sequences using the
polymerase chain reaction.
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Common stock listed on NASDAQ under the symbol APDN, and warrants are
listed under the symbol APDNW.
Forward-Looking Statements
The statements made by APDN in this press release may be
“forward-looking” in nature within the meaning of the Private Securities
Litigation Act of 1995. Forward-looking statements describe APDN’s
future plans, projections, strategies and expectations, and are based on
assumptions and involve a number of risks and uncertainties, many of
which are beyond the control of APDN. Actual results could differ
materially from those projected due to our short operating history,
limited financial resources, limited market acceptance, market
competition and various other factors detailed from time to time in
APDN’s SEC reports and filings, including our Annual Report on Form 10-K
filed on December 6, 2016, and our subsequent quarterly reports on Form
10-Q filed on February 9, 2017, and May 11, 2017 which are available at www.sec.gov.
APDN undertakes no obligation to update publicly any forward-looking
statements to reflect new information, events or circumstances after the
date hereof to reflect the occurrence of unanticipated events, unless
otherwise required by law.
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Source: Applied DNA Sciences, Inc.
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