APPLIED DNA SYSTEMS, INC. REPORTS RESULTS
APPLIED DNA SYSTEMS, INC. REPORTS RESULTS WARWICK, R.I., Nov. 20 /PRNewswire/ -- Applied DNA Systems, Inc.
(NASDAQ: ADNA) reported that net loss per share of common stock for the nine months ended Sept. 30, 1991 decreased to $0.017 from $0.125 for the nine months ended Sept. 30, 1990.
Net loss for the nine months ended Sept. 30, 1991 decreased to $315,444 from $1,244,389 for the nine months ended Sept. 30, 1990. Revenues for the nine months ended Sept. 30, 1991 increased to $735,060 from $319,127 for the nine months ended Sept. 30, 1990. This increase resulted primarily from an increase in the sale of assays and revenues of $102,544 derived from a reduction in accounts payable by certain vendors prior to the equity investment on June 4, 1991, and $100,000 resulting from a terminated agreement with a major pharmaceutical company. Assay sales for the nine months ended Sept. 30, 1991, increased to $378,410 from $192,459 for the nine months ended Sept. 30, 1991. This increase resulted primarily from a higher proporation of assays billed, whereas in prior periods assays performed for ongoing clinical trials were not billed. The company is a biomedical, development-stage company. Its major scientific product, marketed by its wholly owned subsidiary Analytical Biosystems Corporation (ABC), is a patented laboratory procedure, the Fluorescent Cytoprint Assay (FCA). This assay measures the effectiveness of chemotherapeutic agents in destroying cancer cells. -0- 11/20/91 /CONTACT: Doug MacDougall of Applied DNA Systems, 401-732-6782/ (ADNA) CO: Applied DNA Systems ST: Rhode Island IN: MTC SU: ERN
PB-SH -- NE010 -- 5412 11/20/91 12:19 EST
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|Date:||Nov 20, 1991|
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