Genetic Technologies Limited (NASDAQ:GENE, “Company”, “GTG”), a global leader in guideline-driven genomics-based testing in health, wellness and serious diseases, is pleased to provide this Quarterly Business Update for the quarter ending 30 June 2023.
Highlights:
June Quarter FY23 receipts were A$2.1 million.
Receipts from customers was A$8.8 million for the 12 months to 30 June 2023, up 29% on the prior corresponding period.
GeneType Multi-risk test gaining traction with 250% growth in commercial samples received compared with the prior quarter off a low initial base.
20 Medical practices in the U.S. and Australia now repeatedly referring samples for geneType testing – adding new practices incrementally every week.
Launched a National Television campaign in the U.S. driving engagement with consumers.
Presented a poster at The American Society of Clinical Oncologists (ASCO) in Chicago in May.
Attended the annual Biotechnology Innovation Organisation (BIO) conference in Boston to establish global partnership foundation pathways.
Publications validating the use of geneType; identifying those at elevated risk of developing Melanoma, Pancreatic and Prostate Cancer.
Commenting on the Company’s quarterly performance, Chief Executive Officer Simon Morriss said: “The June 2023 quarter provided some significant highlights. Growth in the commercial traction of the company’s geneType brand was experienced in both Australia and the U.S. This is being driven by a strengthened focus on sales and support, via our newly appointed Medical Science Liaison (MSL) team and our dedicated technical and customer support teams in the U.S. and Australia.
“Our science team continues to deliver, growing the geneType platform with peer reviewed publications accepted for three of the recently included diseases on the geneType platform. Studies have again validated the utility of the melanoma, prostate and pancreatic cancer tests, continuing to highlight the strong scientific “DNA” that provides a clinical foundation for geneType.”
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