Applied DNA Shares Slightly Up On New Contract With U.S. Defense Logistics Agency
Supply chain security provider Applied DNA Sciences, Inc. (NASDAQ:APDN) reported Wednesday it had signed a new contract with the Defense Logistics Agency’s (DLA) Land and Maritime’s Product Test Center (PTC) with a maximal value of $1.04 million.
The indefinite-delivery contract has a five-year performance term.
In 2014, Applied DNA entered into the initial contract with the goal of backing the “DLA’s counterfeit mitigation initiatives, and product verification and testing programs specific to FSC 5962 microcircuits.”
The new agreement summarizes the company’s services such as the formation of unique DNA marks in various inks, QC authentication testing and training.
“This new contract enables DLA to maintain continuity of services at the PTC in service of the nation’s warfighting capabilities and further reinforces the application of our forensic DNA mark as a secure, high-resolution taggant to track provenance and ensure authenticity,” Judy Murrah, CEO of Applied DNA sated.
Applied DNA is known for its proprietary, polymerase chain reaction-based manufacturing platform dubbed LinearDNA, which enables the large-scale manufacture of particular DNA sequences. LinearDNA also has non-biologic uses including supply chain security, anti-counterfeiting and anti-theft technology for markets like government/military, cannabis, pharmaceuticals, textiles, and nutraceuticals, among others.
The company is a member of the Russel Microcap Index.
Applied DNA’s shares were trading 4.15% higher at $6.28 at the time of writing.
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