Genetic Technologies Stock Price, News & Analysis

Genetic Technologies (ASX:GTG; NASDAQ:GENE) invites investors to an exclusive live webinar on October 2, 2024, at 4:15 p.m. ET. The event, hosted by RedChip Companies, will feature GTG's senior leadership discussing the company's genomics-based test portfolio and recent move to a capital light model.

Key highlights include:

• EasyDNA platform with over $7m in annual recurring revenues
• Expanding product portfolio with 50+ risk assessment tests in 14 categories
• 25 patents granted and 9 pending
• B2B commercialization strategy for geneType multi-risk test
• Expanding direct-to-consumer testing programs

The global predictive genomics market is projected to reach $4.6 billion by 2025, with a 17%+ CAGR. A recent restructure has reduced cash burn, allowing focus on sales and commercialization. The webinar will include a Q&A session.

Genetic Technologies (NASDAQ: GENE) has partnered with CancerIQ, gaining access to 45 healthcare systems and 250 clinics. This collaboration integrates GENE's geneType Risk Assessment Tests into CancerIQ's platform, expanding into primary preventive care. GeneType will be CancerIQ's first lab partner focused on polygenic-integrated clinical risk prediction for nine major diseases.

The partnership aims to increase visibility within US healthcare systems, potentially reaching over 1 million patients screened using CancerIQ. GENE's new commercial strategy involves contract-only, commission-based sales teams to achieve greater reach with low overhead. The company will pay an annual fee of US$75,000 for CancerIQ's Premium Tier access, which includes simplified test ordering and form pre-population.

Genetic Technologies (NASDAQ: GENE) has announced the global launch of its geneType™ Risk Assessment portfolio on the wholly owned EasyDNA platform, operating in 42 countries. This expansion is expected to significantly boost the company's annual revenues of A$7.5m, with a potential gross margin exceeding 70%. The move, combined with structural changes, aims to reduce monthly cash burn from A$800k to under A$200k, driving GENE towards profitability.

The company has developed a streamlined online process for clinicians and consumers, partnering with Nest Genomics, DNA Nexus, DNA Visit, Gene By Gene, and Fabric Genomics. This telehealth-enabled access to clinical testing aligns with GENE's mission to transform personalized healthcare. The geneType™ consumer-initiated pipeline on EasyDNA is expected to increase product visibility while maintaining clinical oversight.

Genetic Technologies (NASDAQ:GENE) is hosting an exclusive live investor webinar and Q&A session on August 15, 2024, at 4:15 p.m. ET. The event, hosted by RedChip Companies, will feature senior executives discussing the company's genomics-based test portfolio for health, wellness, and serious diseases. Key highlights include:

- EasyDNA platform with over $7 million in annual recurring revenues
- Expanding product portfolio with 50+ risk assessment tests in 14 categories
- 25 granted patents and 9 pending
- B2B commercialization strategy for geneType multi-risk test
- Expanding direct-to-consumer testing programs
- Global predictive genomics market expected to reach $4.6 billion by 2025 (17%+ CAGR)
- Recent corporate restructure to reduce cash burn and focus on sales

Genetic Technologies (ASX: GTG; NASDAQ: GENE) has announced a strategic restructure to transition to a capital light operations model, focusing on sales growth in the United States. This move is expected to result in an immediate material reduction in operating costs. The company will maintain its core business of EasyDNA and GeneType, with EasyDNA currently generating over $7 million in global sales.

Key points:

• Transition to outsourced/collaborations approach
• $800,000 secured loan for working capital
• Monthly cash burn reduction from $800,000 to below $200,000
• Targeting cash flow positive by end of CY 2025
• Board members to assume executive roles
• Current CEO Simon Morriss to transition out in September

Genetic Technologies (NASDAQ: GENE) has appointed Mark Ziirsen as Chief Financial Officer and Company Secretary. Ziirsen brings over 25 years of experience in senior finance leadership roles across various industries, including life sciences, technology, and consumer segments. His background includes positions with major ASX-listed companies such as Cochlear , Aristocrat Leisure , and Coca-Cola Amatil .

CEO Simon Morriss expressed confidence that Ziirsen's extensive experience will add significant value to the team. This appointment aligns with Genetic Technologies' position as a global leader in genomics-based tests for health, wellness, and serious disease. The move is expected to support the company's growth and transformation efforts in the rapidly evolving field of genomics.

Genetic Technologies (NASDAQ: GENE) announced the expansion of its genomic testing brand, geneType, into Canada and New Zealand. This follows a successful U.S. launch in partnership with Stayhealthy, Inc. The company reported a 500% increase in week-over-week sales due to a pilot influencer campaign with CEGtalent.com. CEO Simon Morriss anticipates further accelerated growth with this international expansion. GeneType offers a comprehensive suite of genetic risk assessment tests for various diseases including cancer, cardiovascular conditions, and Type 2 diabetes, providing actionable health recommendations. The tests are non-invasive, saliva-based, and clinically validated.

Genetic Technologies (NASDAQ: GENE) has announced the success of its geneType Risk Assessment Test, which has identified 79.5% of individuals tested in the US and Australia as being at elevated risk for serious diseases. These tests cover a range of conditions, including various cancers, cardiovascular diseases, and Type 2 diabetes, using a non-invasive saliva sample. The company highlights the test's potential to allow for early detection and intervention, thereby improving health outcomes and personalizing patient care. This development underscores geneType's role in revolutionizing preventive healthcare.

Genetic Technologies (ASX: GTG, NASDAQ: GENE) will host an exclusive investor webinar on June 27, 2024, at 4:15 p.m. ET, featuring CEO Simon Morriss. The event, organized by RedChip Companies, aims to provide insights into the company's genomics-based tests portfolio, including the geneType multi-risk test. Key strategies to be discussed include scaling existing sales channels, aggressive digital marketing, expanding global territories via strategic licensing, and forming partnerships with health systems such as Wellworks and Stay Healthy. As the predictive genomics market is projected to reach $4.6 billion by 2025 with a CAGR of over 17%, Genetic Technologies is keen on scaling its direct-to-consumer testing programs.