Applied DNA Receives Extension from Nasdaq
STONY BROOK, N.Y., October 3, 2019 – Applied DNA Sciences, Inc. (NASDAQ: APDN) (“Applied DNA”) (“we,” “us,” “our,” the “Company”), a leader in large-scale PCR-based DNA manufacturing, today announced that the Nasdaq Hearings Panel (the “Panel”) , has granted Applied DNA’s request for an extension through December 31, 2019, to comply with all applicable criteria for continued listing of the Company’s securities on The Nasdaq Capital Market (“Nasdaq”), including the minimum $1.00 bid price and $2.5 million stockholders’ equity requirements. During the extension, Applied DNA’s securities will remain listed on Nasdaq.
“We are appreciative of the Nasdaq Hearings Panel’s decision to grant us our requested extension to evidence compliance with all applicable requirements for continued listing on Nasdaq. The management team and Board of Directors place the highest priority on our continued listing, and we want to assure all stakeholders that we continue to work diligently on executing on our compliance plan,” stated Dr. James A. Hayward, president and CEO of Applied DNA.
The Company is diligently working to comply with the minimum $1.00 bid price and $2.5 million stockholders’ equity requirements; however, there can be no assurance that the Company will be able to regain compliance with the applicable listing criteria within the period granted by the Panel.
