BNB Plus (BNBX) AI Stock Analysis

• Market Cap: $7.07M
• Dividend Yield: N/A
• Average Volume (3M): 1.96M
• Price to Earnings (P/E): ―
• Beta (1Y): 2.95
• Revenue Growth: -21.79%
• EPS Growth: 86.75%
• Country: US
• Employees: 46
• Sector: Financial
• Sector Strength: 70
• Industry: Biotechnology
• EPS (TTM): -3.17
• Shares Outstanding: 4,365,541
• 10 Day Avg. Volume: 46,292
• 30 Day Avg. Volume: 1,955,224
• PEG Ratio: <0.01
• Price to Book (P/B): 0.04
• Price to Sales (P/S): 0.12
• P/FCF Ratio: 0.00
• Enterprise Value/Market Cap: -0.24
• Enterprise Value/Revenue: -0.52
• Enterprise Value/Gross Profit: -1.32
• Enterprise Value/Ebitda: 0.13
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 42 Neutral
• Price Target: ―

Applied DNA Sciences faces substantial financial and operational challenges, as indicated by declining revenues and net losses. Despite some positive strategic moves, such as focusing on LineaRx, the stock suffers from poor technical indicators and valuation metrics. The company's ongoing financial struggles and the uncertainties highlighted in the earnings call contribute to a low overall stock score.

BNB Plus Business Overview & Revenue Model

Company Description

BNB Plus Corp. is a biotechnology company, which engages in the development and commercialization of technologies to produce and detect deoxyribonucleic acid and ribonucleic acid. It operates through the following segments: Therapeutic DNA Production Services, MDx Testing Services, and DNA Tagging and Security Products and Services. The Therapeutic DNA Production Services segment consists of the enzymatic manufacture of synthetic DNA for use in the production of nucleic acid-based therapeutics and the development and sale of a proprietary RNAP for use in the production of mRNA therapeutics. The MDx Testing Services segment develops clinical molecular diagnostic and genetic tests and clinical laboratory testing services. The DNA Tagging and Security Products and Services segment is involved in the detection of DNA for industrial supply chains and security services. The company was founded in 1983 and is headquartered in Stony Brook, NY.

How the Company Makes Money

Applied DNA Sciences generates revenue through the sale of its proprietary DNA-based solutions and services. The company earns money by providing DNA tagging and authentication services to businesses in various industries, including pharmaceuticals, textiles, and consumer goods. Additionally, APDN collaborates with partners in sectors like government and law enforcement to deliver security solutions. Key revenue streams include service fees for DNA tagging and authentication, as well as licensing fees from strategic partnerships. APDN's earnings are significantly influenced by its ability to secure contracts with major companies and government agencies, as well as its continued innovation in DNA technology applications.

BNB Plus Financial Statement Overview

Summary

Applied DNA Sciences is facing significant financial challenges with declining revenues and consistent net losses impacting profitability. The balance sheet is stable with low debt, but negative cash flows indicate operational inefficiencies. The company should focus on revenue growth and cost management to improve financial health.

Income Statement

The company shows a declining revenue trend with significant losses. Revenue has decreased from $18.17 million in 2022 to $3.73 million TTM. Gross profit margin is low, and net profit margin is negative due to substantial net losses. These indicators suggest weak profitability and potential financial challenges.

Balance Sheet

The balance sheet reveals a low debt-to-equity ratio, indicating minimal leverage and a stronger equity position. However, the equity ratio shows a decline from 58% in 2022 to 80% TTM, reflecting reduced asset base and increased equity. The return on equity is negative, which highlights profitability issues.

Cash Flow

Cash flows are under pressure with negative operating cash flow and free cash flow, indicating cash burn. Although financing cash flow is positive due to external funding, reliance on financing for operations is risky. Free cash flow to net income ratio is unfavorable, suggesting inefficiencies in cash generation.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	3.30M	3.43M	13.37M	18.17M	9.03M	1.93M
Gross Profit	1.30M	1.02M	5.53M	5.05M	4.93M	1.21M
EBITDA	-13.06M	-13.33M	-9.59M	-12.68M	-11.68M	-12.25M
Net Income	-13.19M	-6.99M	-9.95M	-8.38M	-16.03M	-12.76M
Balance Sheet
Total Assets	9.93M	12.79M	13.65M	22.27M	14.42M	11.34M
Cash, Cash Equivalents and Short-Term Investments	4.73M	6.43M	7.15M	15.22M	6.55M	7.79M
Total Debt	334.40K	739.16K	1.24M	0.00	0.00	2.35M
Total Liabilities	2.95M	3.82M	8.78M	9.36M	3.30M	5.63M
Stockholders Equity	7.26M	9.14M	4.95M	12.91M	11.11M	5.72M
Cash Flow
Free Cash Flow	-13.26M	-14.12M	-6.30M	-9.47M	-15.94M	-12.21M
Operating Cash Flow	-12.58M	-13.71M	-6.22M	-8.98M	-13.39M	-11.14M
Investing Cash Flow	-663.37K	-407.90K	-1.10M	-489.55K	-2.55M	-1.06M
Financing Cash Flow	7.54M	13.40M	0.00	18.13M	14.70M	19.43M

BNB Plus Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 1.48
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For BNBX, the sentiment is Negative. The current price of 1.48 is below the 20-day moving average (MA) of 1.84, below the 50-day MA of 2.48, and below the 200-day MA of 5.66, indicating a bearish trend. The MACD of -0.30 indicates Negative momentum. The RSI at 38.27 is Neutral, neither overbought nor oversold. The STOCH value of 77.53 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for BNBX.

BNB Plus Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	68 Neutral	$18.00B	11.42	9.92%	3.81%	9.73%	1.22%
INBS	59 Neutral	$14.97M	-0.84	-223.45%	―	3.26%	65.96%
MYNZ	49 Neutral	$10.15M	―	―	―	―	―
BNBX	42 Neutral	$7.07M	>-0.01	-259.18%	―	-21.79%	86.75%
NDRA	42 Neutral	$5.35M	-0.33	-236.34%	―	―	98.86%
ISPC	42 Neutral	$3.31M	-0.05	-296.20%	―	-67.73%	58.35%

BNB Plus Corporate Events

Applied DNA Sciences Approves Key Stockholder Proposals

On December 12, 2025, Applied DNA Sciences held a special meeting of stockholders where several key proposals were approved. These included the exercisability of certain pre-funded warrants and common stock purchase warrants, an amendment to increase the number of authorized shares of Common Stock from 200,000,000 to 500,000,000, and an amendment to the 2020 Equity Incentive Plan to increase the number of authorized shares reserved for issuance by 5,000,000 shares. These approvals are expected to impact the company’s operations by potentially expanding its capital structure and enhancing its equity incentive offerings.

Applied DNA Sciences Rebrands to BNB Plus Corp.

On November 13, 2025, Applied DNA Sciences officially changed its name to BNB Plus Corp., aligning with its new focus on a BNB-based digital asset treasury strategy. The rebranding, which includes a ticker change to BNBX, reflects the company’s commitment to leveraging Binance-native tools for yield generation and capital efficiency. Additionally, Josh Kruger was appointed as Chairman of the Board, signaling a strengthened leadership in decentralized finance (DeFi). This move is expected to enhance the company’s market positioning and unlock new shareholder value as it expands its BNB holdings.

Applied DNA Sciences Appoints Joshua Kruger as Chairman

On November 6, 2025, Applied DNA Sciences appointed Joshua Kruger as Chairman and director, following the resignation of Sanford R. Simon and Judith Murrah’s voluntary resignation as Chairperson. Mr. Kruger, affiliated with Cypress Management LLC and Cypress LLC, is not considered independent under Nasdaq rules. The company has engaged Cypress Management LLC for strategic advisory services and Cypress LLC for digital asset management, with Mr. Kruger having significant economic interests in both entities. These agreements involve substantial financial transactions, including monthly fees and stock warrants, reflecting the company’s strategic focus on growth and asset management in the crypto sector.

Applied DNA Sciences Signs Market Offering Agreement

On November 4, 2025, Applied DNA Sciences entered into an At The Market Offering Agreement with Lucid Capital Markets, allowing the company to sell shares of its common stock valued up to $8,157,932. This agreement, under the company’s shelf registration statement, enables the company to sell shares at market prices, with Lucid Capital Markets acting as the sales agent. The company is not obligated to sell any shares and can suspend or terminate the agreement at any time. This move could potentially impact the company’s financial flexibility and market positioning, although the total proceeds are not determinable at this time.

Applied DNA Sciences Closes $27M Private Placement

On October 22, 2025, Applied DNA Sciences announced the closing of its private placement offerings, raising approximately $27 million with the potential for an additional $31 million from future warrant exercises. The company is launching a yield-focused BNB digital asset treasury strategy, which is expected to streamline operations and achieve cost savings of approximately $2.9 million annually. The proceeds will support the company’s strategic priorities, including its BNB treasury strategy and working capital needs, positioning it for long-term sustainability and value delivery to shareholders.