GENE - Genetic Technologies reports 9M results

Genetic Technologies (NASDAQ:GENE) reported YTD results for the nine months ended March 31. The Australian company said YTD growth in revenue was +475%. Cash receipts of A$2M in Q3, an increase of 9% on the prior quarter, and mainly comprised of EasyDNA product sales. The company noted it had cash balance of of A$11.43M, providing 21 months runway for investing in growth initiative Outlook: “We are very pleased with the progress made over the last quarter in achieving approvals for Multi-Risk Test and the patent for the COVID-19 Risk Test. Quarter four focus will be on the significant opportunity of our geneType product suite; continuing to demonstrate the clinical validity and utility of the geneType tests in the healthcare sector; and EasyDNA sales growth by expanding our product offering through new markets and channels," said CEO Simon Morriss.

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Genetic Technologies reports 9M results