Genetic Technologies (ASX:GTG) -
Source: Genetic Technologies
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  • Genetic Technologies Limited (GTG) reports a ‘momentum building’ Q2 FY22 with notable cash increases and novel studies completed
  • Genetic recorded cash receipts of over 112 per cent, increasing to $1.8 million following the completed integration of EasyDNA
  • Genetic’s US patent application for its geneType COVID-19 Risk Test has been accepted and a cross validation study was completed
  • Another completed study highlighted Genetic’s development of its geneType Breast Cancer Risk Test
  • Genetic Technologies (GTG) last traded at $0.006 per share before market open on December 21

Genetic Technologies (GTG) reports a ‘momentum building’ Q2 FY22 with notable cash increases and novel studies completed.

Genetic recorded cash receipts of over 112 per cent, increasing to $1.8 million following the completed integration of EasyDNA.

Multi-Test technical validation was completed and submitted to NATA and CMS for final regulatory approval ahead of the commercial release.

Genetic’s US patent application for its geneType COVID-19 Risk Test has been accepted and a cross-validation study was completed.

Another completed study included 200,000 female patients and highlighted Genetic’s development of its geneType Breast Cancer Risk Test.

Dr Erika Spaeth, Genetic’s Director of Clinical Affairs, released new data for an improved version of the test which showed improved discrimination and calibration over traditional clinical models.

Additionally, the company enhanced its patient distribution network through a new partnership agreement with 1Health and IBX.

In the coming quarters, Genetic’s focus will be on further leveraging the acquisition by including the multi-test product.

Genetic expects to see solid growth in revenue across all brands and products as these initiatives are rolled out.

The company is now focused on finalising commercial distribution opportunities with its EasyDNA brand and through its existing partner network with IBX, 1 Health and Vitagene.

Genetic Technologies (GTG) last traded at $0.006 per share before the market opened on December 21.

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