Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Healthcare stock Genetic Signatures (GSS) has boosted its preliminary sales figures ahead of its September quarter results
  • On Friday, GSS told the market preliminary sales totalled $10.5 million at the end of FY21’s first quarter
  • All up, that figure represents a 50 per cent jump on the previous quarter’s sales — at the end of June, GSS had earned a record $7 million in audited revenue
  • Positively, the revised total is also a 25 per cent increase on GSS’s original estimates
  • Genetic’s full financial results will be revealed it its upcoming September quarterly, which is due later this month
  • While the results are only preliminary, they sent Genetic Signatures’ share price 11.8 per cent higher to close worth $1.90 per share

Healthcare stock Genetic Signatures (GSS) has boosted its preliminary sales figures ahead of its September quarter results.

The public company, headquartered in New South Wales, told the market preliminary sales totalled $10.5 million at the end of FY21’s first quarter.

All up, that figure represents a 50 per cent jump on the previous quarter’s sales — at the end of June, GSS had earned a record $7 million in audited revenue.

Positively, the revised total is also a 25 per cent increase on GSS’s original estimates.

Genetic Signatures specialises in molecular diagnostics, which is a way of analysing genes using molecular biology.

The company is working to commercialise its 3base technology — a platform which can double the genome size when a laboratory is screening a strand of DNA for infectious diseases. Currently, the company’s target market includes large scale hospitals and pathology labs.

Genetic’s full financial results will be revealed it its upcoming September quarterly, which is due later this month.

While today’s results are only preliminary, they sent Genetic Signatures’ share price nearly 12 per cent higher on Friday.

GSS shares ended the week up 11.8 per cent, worth $1.90 per share.

GSS by the numbers
More From The Market Herald
Little Green Pharma (ASX:LGP) - Managing Director, Fleta Solomon

" Little Green Pharma (ASX:LGP) seeks to expand to Greece

Little Green Pharma (ASX:LGP) seeks to expand to Greece

" HeraMED (ASX:HMD) signs “significant milestone” with a Perth hospital

Digital maternity care company HeraMED (ASX:HMD) has hit a "truly significant milestone" with a Perth hospital,…

" ResApp Health (ASX:RAP) signs LOI to launch diagnostic app in the Philippines

ResApp Health (ASX:RAP) smartphone diagnostic test is set to launch in the Philippines through an agreement…

" Emyria (ASX:EMD) set to begin ultra-pure CBD trial

Emyria (ASX:EMD) is set to begin phase one clinical trials of its ultra-pure CBD drug candidate,…