Applied DNA and TheraCann International Sign Term Sheet to Amend Licensing and Cooperation Agreement
Applied DNA Sciences, Inc. (APDN)
Last applied dna sciences, inc. earnings: 8/10 04:05 pm
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Source: Business Wire
Amendments fortify the Agreement, allow revenue recognition, and strengthen the Applied DNA Balance Sheet STONY BROOK, N.Y.--(BUSINESS WIRE)--Applied DNA Sciences Inc. (NASDAQ: APDN) (“Applied DNA” or the “Company”), a leader in PCR-based (Polymerase Chain Reaction) DNA manufacturing for product authenticity and traceability solutions, today announced that the Company and TheraCann International Benchmark Corporation (“TheraCann”) have signed a non-binding term sheet (the “Term Sheet”) outlining agreed-upon amendments to the exclusive licensing and cooperation agreement signed March 28, 2019 between the parties (the “Agreement”). The Term Sheet is expected to be followed by definitive contractual amendments.Under the Term Sheet, the parties agreed to amend the Agreement to provide Applied DNA with $4M in TheraCann convertible preferred stock and a $1M convertible promissory note in exchange for Applied DNA’s waiver of $4M in cash payments due from TheraCann on or before August 15,
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- Applied DNA Sciences (APDN) Reports Q4 Loss, Tops Revenue Estimates [Yahoo! Finance]Yahoo! Finance
- Applied DNA Announces Fourth Quarter and Fiscal Year 2024 Financial Results, Announces Strategic Restructuring to Prioritize the Manufacture of Critical Starting Materials for Genetic Medicines [Yahoo! Finance]Yahoo! Finance
- Applied DNA Announces Fourth Quarter and Fiscal Year 2024 Financial Results, Announces Strategic Restructuring to Prioritize the Manufacture of Critical Starting Materials for Genetic Medicines Accesswire
APDN
Earnings
- 12/17/24 - Beat
APDN
Sec Filings
- 12/17/24 - Form 10-K
- 12/17/24 - Form 8-K
- 12/10/24 - Form DEFA14A
- APDN's page on the SEC website