Applied DNA Awarded Extension of Health Services Contract with The City University of New York
10 August 2022 - 1:30AM
Business Wire
- Period of Performance Extended Through
July 2023 at Prior Terms -
- Recognizes safeCircle’s™ Superior Integrated
COVID-19 Testing and Vaccine Policy Management with Rapid Results
Reporting and Campus Access Control -
- Mitigates Risk in the New Academic Year Given
Surge in Variant Positivity Rates -
Applied DNA Sciences, Inc. (NASDAQ: APDN) (the “Company”), a
leader in polymerase chain reaction (“PCR”)-based technologies,
today announced that The City University of New York (CUNY), the
largest urban university in the United States, has extended its
health services contract for COVID-19 testing and vaccine policy
management with the Company’s wholly-owned clinical laboratory
subsidiary, Applied DNA Clinical Labs, LLC (ADCL), for 12 months
through July 2023 and at the prior contract terms. ADCL’s COVID-19
testing volumes, including the CUNY contract, fueled the Company’s
record fiscal 2021 revenues and consecutive quarterly record
revenues in the first half of fiscal 2022 ended March 31, 2022.
The contract has been successfully operational since August
2021. Through a partnership with Cleared4 software platform, ADCL
provides a wide range of COVID-19 related health services to help
CUNY mitigate COVID-19 associated risks. These services, which are
provided to CUNY’s 25 campuses and covering 300,000+ students,
employees, auxiliary workers, contractors and visitors, include:
(i) high-throughput RT-PCR COVID-19 testing (weekly testing and a
robust randomized testing program); (ii) vaccination policy and
documentation management; and, (iii) facility access control.
“We commend the CUNY Board of Trustees for taking a
forward-thinking approach to ensure the continued health and safety
of all CUNY stakeholders while remaining committed to the promise
and value of in-person learning. As New York City grapples with a
resurgence of infections fueled by the Omicron BA.5 subvariant that
can potentially elude rapid test detection and more easily reinfect
people, including those who have been vaccinated, boosted and/or
previously infected, our ability to deliver rapid PCR-based results
with actionable reporting and access management for safeCircle
clients remains a standout,” stated Dr. James A. Hayward, president
and CEO of Applied DNA. “Given our infrastructure and client
concentration in New York City, we are pleased to continue
servicing CUNY while we expand our test offering and services.”
About safeCircle™
safeCircle is a fully integrated health testing platform that
offers a customized suite of services to institutions and their
personnel/members that encompasses: program design, RT-PCR and
rapid antigen testing, sample kit distribution and collection, test
site management, results reporting to individuals and program
administrators, facilities access management, variant tracking, and
vaccination documentation management.
Click to learn more:
https://adnas.com/covid-19-testing-platform/
About Applied DNA Sciences
Applied DNA Sciences is a biotechnology company developing
technologies to produce and detect deoxyribonucleic acid ("DNA").
Using the polymerase chain reaction ("PCR") to enable both the
production and detection of DNA, we operate in three primary
business markets: (i) the manufacture of DNA for use in nucleic
acid-based therapeutics; (ii) the detection of DNA in molecular
diagnostics testing services; and (iii) the manufacture and
detection of DNA for industrial supply chain security services.
Visit adnas.com for more information. Follow us on Twitter and
LinkedIn. Join our mailing list.
The Company's common stock is listed on NASDAQ under the ticker
symbol 'APDN,' and its publicly traded warrants are listed on OTC
under the ticker symbol 'APPDW.'
Forward-Looking Statements
The statements made by Applied DNA in this press release may be
"forward-looking" in nature within the meaning of Section 27A of
the Securities Act of 1933, Section 21E of the Securities Exchange
Act of 1934 and the Private Securities Litigation Reform Act of
1995. Forward-looking statements describe Applied DNA'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 Applied DNA. Actual results
could differ materially from those projected due to its history of
net losses, limited financial resources, limited market acceptance,
the possibility that Applied DNA's assay kits or testing services
could become obsolete or have their utility diminished and the
unknown amount of revenues and profits that will results from
Applied DNA's testing contracts. Further, the uncertainties
inherent in research and development, future data and analysis,
including whether any of Applied DNA's or its partner's future
diagnostic candidates will advance further in the research process
or receiving authorization, clearance or approval from the FDA,
equivalent foreign regulatory agencies and/or the New York State
Department of Health (NYSDOH), and whether and when, if at all,
they will receive final authorization, clearance or approval from
the FDA, equivalent foreign regulatory agencies and/or NYSDOH, the
unknown outcome of any applications or requests to FDA, equivalent
foreign regulatory agencies and/or the NYSDOH, the unknown limited
duration of any EUAs from the FDA, changes in guidance promulgated
by the CDC, FDA, CMS an/or NYSDOH relating to COVID-19 testing,
disruptions in the supply of raw materials and supplies, continued
mutations of the SARS-CoV-2 virus, shifting review priorities of
FDA for COVID-19 EUA requests and when, if at all, any EUA request
will be reviewed by FDA, and various other factors detailed from
time to time in Applied DNA's SEC reports and filings, including
our Annual Report on Form 10-K filed on December 9, 2021, its
Quarterly Report on Form 10-Q filed on February 10, 2022, and May
12, 2022, and other reports we file with the SEC, which are
available at www.sec.gov. Applied DNA undertakes no obligation to
update publicly any forward-looking statements to reflect new
information, events or circumstances after the date hereof or to
reflect the occurrence of unanticipated events, unless otherwise
required by law.
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Investor Relations: Sanjay M. Hurry, 917-733-5573,
sanjay.hurry@adnas.com Program: Mike Munzer, 631-240-8814,
mike.munzer@adnas.com Web: www.adnas.com Twitter:
@APDN
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