Shares of Applied DNA Sciences Inc., (NASDAQ:APDN) are trying to break out of a long-term downtrend as the company announced today the signing of a new contract to continue uninterrupted service of the Company’s DNA marking program at the Defense Logistics Agency’s (DLA) Land and Maritime’s Product Test Center (PTC) in Columbus, Ohio. The firm fixed price, indefinite delivery contract (IDC) was awarded on September 6 and spans a two-year period of performance. In addition, the contract allows for a one-year option period to be exercised at the discretion of DLA.
"We appreciate the DLA’s continuing support of our taggant technology platform in extending this contract for the marking of system-critical microcircuits," stated Janice Meraglia, Vice President of Government and Military Programs at Applied DNA.
The stock has responded favorably to the two-year contract with shares currently up $0.034 or 2.88% to $1.214. With that said, this is a stock that has continued to disappoint shareholders as it continues to stay in a multi-year downtrend. Perhaps news of this start will provide the spark for a trend direction change.
