sur Applied DNA Sciences, Inc.
Applied DNA Reports Third Quarter Financial Results for Fiscal Year 2024
Applied DNA Sciences, Inc. (NASDAQ:APDN), a leader in PCR-based DNA technologies, announced its Q3 fiscal 2024 financial results. The period ended June 30, 2024, saw consolidated revenues of $798,000, a significant decrease from $2.9 million in the same period of 2023. This drop is attributed primarily to the conclusion of a COVID-19 testing contract with CUNY.
Gross profit for the quarter stood at $245,000, compared to $1.3 million in Q3 2023, reflecting a decline in MDx testing services. Operating expenses decreased to $3.6 million from $4.1 million, mainly due to reduced stock-based compensation and consulting expenses.
Despite a net loss from operations of $3.3 million, Applied DNA reported improved cash reserves at $10.4 million as of June 30, 2024, boosted by a public offering. The company anticipates that operational milestones in LineaRx, Clinical Labs, and the CertainT platform will drive growth in fiscal 2025.
R. H.
Copyright © 2024 FinanzWire, tous droits de reproduction et de représentation réservés.
Clause de non responsabilité : bien que puisées aux meilleures sources, les informations et analyses diffusées par FinanzWire sont fournies à titre indicatif et ne constituent en aucune manière une incitation à prendre position sur les marchés financiers.
Cliquez ici pour consulter le communiqué de presse ayant servi de base à la rédaction de cette brève
Voir toutes les actualités de Applied DNA Sciences, Inc.