Applied DNA Sciences, Inc. (APDN), a company that develops and markets DNA-based technology solutions, has surged 11.02% in aftermarket trading session. Consequently, APDN stock is trading at $5.64 at the time of the writing. The surge could be attributed to the announcement of fiscal results. On Thursday, APDN closed the day at $5.08 after declining 4.15% during regular trading hours.
APDN FY 2021 Operational Results
In the late hours of Thursday, APDN released the operational results for the fiscal year 2021. The year ended on 30th September. The company generated total revenue of $9.02 million during the quarters against $1.9 million for the fiscal year 2020. The total operating expenses for the period were $18 million against $13.6 million for the fiscal year 2020. The net loss suffered by the company during the period was $14.2 million (or $2.07 per basic and diluted share) against $13 million (or $3.32 per basic and diluted share) for the fiscal year 2020.
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Q4 2021 Operational Results
Alongside the results for the full year 2021, APDN also released the results for the fourth quarter of fiscal 2021, which ended 30th September. The company generated revenue of $3 million during the quarter against $314,000 during the same period of 2020. The total operating expenses bore by the company during the three months were $5.6 million against $4.2 million for the same period of 2020. The net loss suffered by the company’s shareholders during the quarter was $4.5 million (or $0.6 per basic and diluted share) against $4.1 million (or $0.82 per basic and diluted share) for the same period of 2020.
Executive Commentary
Dr. James A. Hayward, president, and CEO of APDN, while commenting on the results said that the company is pleased with the quarterly as well as the full year 2021 fiscal results. He said that the growth in the company’s portfolio during the respective periods was the result of the company’s decision to enter COVID-19 testing and assay manufacturing markets. He said that looking ahead, the company is prepared to capitalize on the opportunities cultivated during fiscal 2021 and would focus on commercial-scale trials of certain innovative products during fiscal 2022.
Future Outlook for APDN
During the last three months, APDN stock has seen a decline of 12%. That decline could be attributable to the uncertainty associated with the stock based on the results of the trials it carries out. Analysts, however, believe that the company is in a good shape to attract potential investors soon.
