On December 27, 2018 Applied DNA Sciences, Inc. (NASDAQ: APDN) ("Applied DNA" or the "Company"), a leader in large-scale PCR-based DNA manufacturing, reported that on December 26, 2018 it closed its previously announced underwritten public offering (the "Offering") of an aggregate of 5,500,000 shares of common stock, par value $0.001 per share (the "Common Stock"), together with warrants to purchase an aggregate of 5,500,000 shares of common stock (the "Warrants") at an exercise price equal to $0.50 per share of Common Stock with Maxim Group LLC ("Maxim"), as the sole underwriter and book running manager (Press release, Applied DNA Sciences, DEC 27, 2018, View Source [SID1234532304]). Maxim partially exercised its overallotment option that was granted pursuant to the Offering and purchased an additional 800,000 Warrants. Such exercised portion of the overallotment also closed on December 26, 2018. The gross proceeds from the offering, before deducting the underwriting discounts and commissions and estimated offering expenses payable by the Company, are $2.75 million.

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Applied DNA intends to use the net proceeds from this offering for working capital, capital expenditures, business development and research and development expenditures.

The Company also noted that it intends to resume quarterly earnings conference calls with the report of its 2019 fiscal first quarter results in February 2019