Applied DNA Sciences Inc. (APDN) stock went up by 11.02% in the aftermarket, following the announcement of the company’s earnings. APDN declared its fourth quarter and full-year fiscal 2021 financial results late on December 09.
In the previous trading session, the stock fluctuated between $5.00 and $5.33 at 3.9 million shares. APDN closed the session at $5.08, losing 4.15% in the regular trading. Following the earnings report, the stock went up to reach $5.64 at an after-hours’ volume of 3.75M.
Currently, Applied DNA Sciences Inc. has a market capitalization of $39.68 million for its 7.49 million outstanding shares.
APDN’s Earnings Report
The company’s fourth quarter and full fiscal year 2021, ended on September 30, 2021.
Fourth Quarter 2021
As per the fourth quarter fiscal 2021, the revenues were $3.0 million, against $314 thousand in the year-ago quarter. This shows an increase of 868% year-over-year.
Moreover, APDN incurred a net loss of $4.5 million in the fourth quarter fiscal 2021, against $4.1 million in the year-ago period. Consequently, the net loss per share was $0.60 in the Q4 fiscal 2021, compared to $0.82 per share in the year-ago quarter.
At the end of the quarter, the company had cash and cash equivalents of $6.6 million, on September 30, 2021. This compares to $7.8 million at the end of the year-ago quarter.
APDN’s full Fiscal Year 2021
APDN’s revenues were $9.0 million for the fiscal year 2021, increasing 467% from $1.9 million in the previous fiscal year.
Further, the company had a net loss of $14.3 million or $2.07/share for the fiscal year 2021, against $13.0 million or $3.32/share for fiscal 2020.
Recent Developments
On December 06, the company announced a new development in its cotton genomics program. According to the program, APDN expects to produce forensic proof of cotton authenticity and provenance. As per the initial data of the program, the company was able to successfully determine Egyptian cotton fiber, yarn, and fabric origin through cotton genomics and isotopic analysis combination. The methodology and findings were presented at an American Apparel and Footwear Association event.
Moreover, the company according to the findings, has proven that through genotyping the geographic origin of cotton can be confirmed. Hence, APDN has filed a provisional patent application with the U.S. Patent and Trademark Office.
