BNB PLUS CORP. (BNBX): restructuring charge — Applied DNA restructures to focus on LineaRx; cuts 27% of staff, shuts clinical lab

BNB PLUS CORP.

Workforce reduction of 27% (projected 23% payroll cut); ceases operations at Applied DNA Clinical Labs.
One-time charges of ~$300k; majority of costs expected by Sept 30, 2025.
CEO Judy Murrah takes 15% salary reduction to $340k/year.
Company ends May 2025 with ~$4.8M cash; cumulative headcount reduction of 39% since Dec 2024.
Restructuring positions LineaRx synthetic DNA manufacturing as sole focus.

Key facts

Extracted from this filing and checked against the source text.

Restructurings & Charges SEC 8-K Item 2.05/2.06 confidence 0.9

BNB PLUS CORP. announced a restructuring with charges of approximately $300 thousand in one-time charges affecting Applied DNA Clinical Labs (ADCL); company-wide workforce reduction (approximately 27% of headcount).

Type: restructuring
Charge: approximately $300 thousand in one-time charges
Affected area: Applied DNA Clinical Labs (ADCL); company-wide workforce reduction
Headcount: approximately 27% of headcount

Exact text from the filing

Company’s former Chairman and Chief Executive Officer. The projected annual payroll savings is expected to be partially offset by approximately three hundred thousand dollars ($300,000) in one-time charges related to the workforce reduction and ceasing of operations at ADCL, primarily for separation benefits. The Company expects to incur the majority of

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BNB PLUS CORP. filing history →

Source: SEC EDGAR

accession 0001104659-25-064106

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