Genetic Tech up 23% on planned launch of consumer-initiated testing

Genetic Technologies Limited (GENE +22.6%) bucks the broad market selloff, albeit on below-average volume, with its update on the launch of its breast cancer and colorectal cancer tests in Australia.

It says about half of the 100 test kits requested have been received into its Melbourne lab. On a preliminary basis, four patients have been identified as potentially high risk for developing breast cancer who would not have been identified as such during routine health checks.

Citing the COVID-19 pandemic, it is accelerating its plans to launch a Consumer Initiated Testing Platform that will allow patients to request a GeneType test directly from the company with clinician oversight of the testing process through an independent provider network and telemedicine.

https://seekingalpha.com/news/3557297-genetic-tech-up-23-on-planned-launch-of-consumer-initiated-testing