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- 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.
