Welcome to our dedicated page for Genetic Technologies Ltd. news (Ticker: GENE), a resource for investors and traders seeking the latest updates and insights on Genetic Technologies Ltd. stock.
Genetic Technologies Ltd. (ASX: GTG, NASDAQ: GENE) is a pioneering molecular diagnostics company based in Australia, specializing in genetic testing and reproductive services. The company leverages an extensive array of international patents and allied research activities to explore the profound impact of DNA on health. Its operations span across the Asia Pacific region, offering specialized genetic tests that convert advanced health knowledge into practical applications for humans, animals, and plants.
One of the company's flagship products is BREVAGenplus, a clinically validated risk assessment test that helps in predicting the likelihood of non-hereditary breast cancer. This test has been a game changer in women's health, providing crucial insights that aid physicians in proactive health management. BREVAGenplus is primarily marketed to healthcare professionals, including breast healthcare and imaging centers, obstetricians/gynecologists (OBGYNs), and breast cancer risk assessment specialists.
Genetic Technologies Ltd. offers a broad spectrum of genetic testing services, encompassing medical, animal, forensic, and plant testing. The company's revenue is chiefly derived from markets in Australia and the United States. The organization operates through two primary segments: EasyDNA and GeneType/Corporate.
Recent developments underline the company’s ongoing commitment to innovation and expansion. For example, the company has recently reported the clinical adoption of its groundbreaking geneType Risk Assessment Tests across 12 states in the United States and at a national level in Australia. These tests are designed to provide a comprehensive risk assessment for various diseases, thereby enabling personalized healthcare.
Dr. Carolyn Young, a board-certified Obstetrician and Gynecologist based in Rockville, Maryland, has emphasized the significance of such tests. According to her, misconceptions about breast cancer risks—such as the belief that absence of family history equates to low risk—can be clarified through the use of geneType tests, which identify both hereditary and non-hereditary risks.
The company continues to make strides, as highlighted in their recent announcements. Genetic Technologies Ltd. aims to expand its market reach by launching new comprehensive tests and entering new global markets. These initiatives are part of the company’s strategic efforts to cement its position as a global leader in genomics-based tests in health, wellness, and serious disease.
For further information or inquiries, you can reach out to Simon Morriss, Chief Executive Officer, at investors@genetype.com.
Genetic Technologies Limited (NASDAQ: GENE) announced significant growth in its quarterly business update for Q3 FY23, reflecting ongoing momentum in its genomics-based testing market.
Key highlights include:
- Receipt of A$4.22 million in the March quarter, with A$2.23 million from customers, a 13% increase year-on-year.
- Year-to-date customer receipts of A$6.7 million, up 45% from the prior period.
- Expansion of the geneType multi-test panel to cover nine diseases.
- Formation of a strategic alliance with QIAGEN to enhance market position.
- Introduction of the world’s first Comprehensive Breast & Ovarian Cancer Risk Test.
GTG remains focused on achieving breakeven cash flow by leveraging its multi-brand strategy and partnerships.
Genetic Technologies Limited (NASDAQ: GENE) announced a significant advancement in prostate cancer risk assessment with the publication of a study validating its geneType Prostate Cancer Risk Assessment Test. This test identifies 23% more men at high risk of prostate cancer compared to family history alone, enhancing the effectiveness of PSA screening methods. The research involved nearly 200,000 men from the UK Biobank and marks the fifth publication in the past six months on their geneType suite of tests. This development underscores GTG's commitment to improving health outcomes and reducing unnecessary medical interventions by providing a more targeted screening approach. The test is now commercially available, reflecting the ongoing scientific development in genomics-based health testing.
Genetic Technologies Limited (NASDAQ: GENE) has announced the US launch of three new disease assessments, expanding its geneType Multi-Test to include melanoma, pancreatic cancer, and atrial fibrillation. This addition raises the total number of risk assessments to nine from a single saliva sample. The updated test is now available for all ethnicities and provides risk stratification for various serious diseases, enhancing early detection and patient outcomes. According to estimates, melanoma and pancreatic cancer will see approximately 97,610 and 64,050 new cases respectively in 2023, emphasizing the importance of this testing.
Genetic Technologies Limited (NASDAQ: GENE) announced the publication of a new research paper in Cancer Prevention Research, reinforcing the efficacy of its geneType Breast Cancer Risk Assessment Test. This study, utilizing over 200,000 women from the UK Biobank, highlights geneType's superior performance over traditional models like BCRAT over a five-year period. Notably, women classified at ≥3% risk by geneType exhibited a 1.829 times higher incidence of breast cancer. This marks the second peer-reviewed publication in a month, supporting geneType’s role as a crucial risk stratification tool for the general population, and reflects the company’s commitment to clinical validation.
FAQ
What is the current stock price of Genetic Technologies Ltd. (GENE)?
What is the market cap of Genetic Technologies Ltd. (GENE)?
What is Genetic Technologies Ltd. known for?
What are the main services offered by Genetic Technologies Ltd.?
Where does Genetic Technologies Ltd. generate most of its revenue?
What is BREVAGenplus?
Who primarily uses BREVAGenplus?
What are the company's main operating segments?
What recent milestones has Genetic Technologies Ltd. achieved?
Who can I contact for more information about Genetic Technologies Ltd.?
What is the focus of Genetic Technologies Ltd.'s research?
How does Genetic Technologies Ltd. contribute to women's health?
