Applied DNA Sciences, Inc. (NASDAQ:APDN) Q3 2023 Earnings Conference Call August 10, 2023 4:30 PM ET

Company Participants

Sanjay Hurry - Head of IR

Beth Jantzen - CFO

James Hayward - Chairman, President and CEO

Clay Shorrock - Chief Legal Officer and Head of Business Development

Conference Call Participants

Jason McCarthy - Maxim Group

Operator

Good day, and welcome to the Applied DNA Sciences Inc. Fiscal Third Quarter 2023 Financial Results Conference Call. [Operator Instructions] Please note, this event is being recorded.

I would now like to turn the conference over to Sanjay Hurry, Head of Investor Relations. Please go ahead.

Sanjay Hurry

Thank you, Betsy. Good afternoon, everyone, and welcome to Applied DNA's conference call to discuss our third quarter fiscal 2023 financial results. You can access the press release that was issued after market close today as well as a slide presentation accompanying this call on the Investor Relations section of our corporate website.

Speaking on the call today are Dr. James Hayward, our Chairman, President and CEO, Beth Jantzen, our Chief Financial Officer; and Clay Shorrock, our Chief Legal Officer and Head of Business Development; Judy Murrah, our Chief Operating Officer, will also be available to answer questions on the Q&A portion of the call.

Before we begin, please note that some of the information you will hear today during our discussion may consist of forward-looking statements. I refer you to Slide 2 of the presentation and our Form 10-Q filed a short while ago, for important risk factors that could cause the company's actual performance and results to differ materially from those expressed or implied in any forward-looking statements. We undertake no obligation to update or revise any forward-looking statements or other information provided on this call as a result of new information or future results or developments.

Now it's my pleasure to introduce our first speaker on today's call, Beth Jantzen. Please go ahead, Beth.

Beth Jantzen

Thank you, Sanjay. Good afternoon, everyone. Thank you for joining us on our fiscal third quarter investor call. I will start this afternoon with an overview of our results for the quarter ended June 30, 2023. I will then turn the call over to Dr. James Hayward, our President and CEO, who will update you on our ongoing business initiatives. We will then open the line for questions from our analysts and institutional investors.

To preface our performance in the fiscal third quarter, our results reflect a weaker environment for COVID-19 testing demand following the federal declaration in early May, that COVID-19 no longer constitutes a public health emergency. Following the declaration and as noted in our fiscal second quarter call, the City University of New York, our largest diagnostic testing program customer opted not to renew their contracts for our testing services. The wind down of the CUNY program began in May at the end of the academic term and was concluded by mid-June.