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Applied DNA Sciences Q3 FY20 sales down to $432,000
07 Aug 20 1 min read
Applied DNA Sciences, a leader in polymerase chain reaction (PCR)-based DNA manufacturing, posted 79 per cent revenue decline to $432 thousand in its third quarter (Q3) fiscal 2020 ended on June 30, 2020 compared to revenue of $2.1 million in same period last year. Company incurred a net loss during the quarter of $3.3 million (Q3 FY19: $1.5 million).
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“We continued during the quarter to position the company to serve the unmet and evolving needs for Covid-19 testing solutions and vaccine development,” Dr James Hayward, president and CEO of Applied DNA Sciences, said in a press release.
Selling, general and administrate expenses for the quarter were $2.5 million. Loss from the operation were $3.1 million ($1.4 million).
“Looking ahead, we are focused on advancing our Covid-19 diagnostic kit and TaaS market strategy and progressing the development of the linear DNA forms of our vaccine candidates,” Dr Hayward said.
Fibre2Fashion News Desk (JL)
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