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Genetic Technologies Limited (GTG.AX)

ASX - ASX Delayed price. Currency in AUD
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0.0120+0.0030 (+33.33%)
At close: 4:10PM AEDT
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Previous close0.0090
Open0.0110
Bid0.0110 x 0
Ask0.0120 x 0
Day's range0.0100 - 0.0140
52-week range0.0030 - 0.0140
Volume227,860,559
Avg. volume10,468,478
Market cap99.141M
Beta (5Y monthly)0.98
PE ratio (TTM)N/A
EPS (TTM)-0.0010
Earnings date01 Mar 2016 - 05 Mar 2016
Forward dividend & yieldN/A (N/A)
Ex-dividend dateN/A
1y target est0.25
  • GlobeNewswire

    Genetic Technologies Announces $6.56 Million Registered Direct Offering

    MELBOURNE, Australia, Jan. 21, 2021 (GLOBE NEWSWIRE) -- Genetic Technologies Limited (ASX: GTG; NASDAQ: GENE) (the “Company”), a leader in the development of genetic risk assessment tests, today announced that it has entered into definitive agreements with several institutional investors for the purchase and sale in a registered direct offering of 1,250,000 American Depositary Shares (“ADSs”), each representing six hundred (600) of the Company’s ordinary shares, at a purchase price of $5.25 per ADS. The closing of the offering is expected to occur on or about January 25, 2021, subject to the satisfaction of customary closing conditions. H.C. Wainwright & Co. is acting as the exclusive placement agent for the offering. The gross proceeds to the Company from this offering are expected to be approximately $6.56 million, before deducting the placement agent’s fees and other offering expenses payable by the Company. The Company intends to use the net proceeds from this offering to support the introduction and distribution of its new products in the United States and Europe, for general product research and development and reimbursement studies for polygenic risk tests, for implementation of its consumer initiated testing platforms and preparation for its Covid-19 Severity Risk Test, introduction of germline genetic testing division as well as for working capital and potential acquisitions. The securities described above are being offered by the Company pursuant to a “shelf” registration statement on Form F-3 (File No. 333-237152) previously filed with the U.S. Securities and Exchange Commission (the “SEC”) on March 13, 2020 and declared effective by the SEC on March 23, 2020. The offering of the securities will be made only by means of a prospectus, including a prospectus supplement, forming a part of the effective registration statement. A final prospectus supplement and accompanying prospectus relating to the securities being offered will be filed with the SEC. Electronic copies of the final prospectus supplement and accompanying prospectus may be obtained, when available, on the SEC’s website at http://www.sec.gov or by contacting H.C. Wainwright & Co., LLC at 430 Park Avenue, 3rd Floor, New York, NY 10022, by phone at (646) 975-6996 or e-mail at placements@hcwco.com. This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction. About Genetic Technologies Limited Genetic Technologies Limited (ASX: GTG; Nasdaq: GENE) is a diversified molecular diagnostics company. GTG offers cancer predictive testing and assessment tools to help physicians proactively manage patient health. The Company’s lead products GeneType for Breast Cancer for non-hereditary breast cancer and GeneType for Colorectal Cancer are clinically validated risk assessment tests and are first in class. Genetic Technologies has capacity for Covid-19 testing and is developing a pipeline of risk assessment products. For more information, please visit www.gtglabs.com. Forward-Looking Statements This press release may contain forward-looking statements about the Company’s expectations, beliefs or intentions regarding, among other things, statements regarding the offering, the expected gross proceeds and the expected closing of the offering. In addition, from time to time, the Company or its representatives have made or may make forward-looking statements, orally or in writing. Forward-looking statements can be identified by the use of forward-looking words such as “believe,” “expect,” “intend,” “plan,” “may,” “should” or “anticipate” or their negatives or other variations of these words or other comparable words or by the fact that these statements do not relate strictly to historical or current matters. These forward-looking statements may be included in, but are not limited to, various filings made by the Company with the U.S. Securities and Exchange Commission, press releases or oral statements made by or with the approval of one of the Company’s authorized executive officers. Forward-looking statements relate to anticipated or expected events, activities, trends or results as of the date they are made. Because forward-looking statements relate to matters that have not yet occurred, these statements are inherently subject to risks and uncertainties that could cause the Company’s actual results to differ materially from any future results expressed or implied by the forward-looking statements. Many factors could cause the Company’s actual activities or results to differ materially from the activities and results anticipated in such forward-looking statements as detailed in the Company’s filings with the Securities and Exchange Commission and in its periodic filings in Australia and the risks and risk factors included therein. In addition, the Company operates in an industry sector where securities values are highly volatile and may be influenced by economic and other factors beyond its control. The Company does not undertake any obligation to publicly update these forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. Investor Relations and Media (US)Dave Gentry, CEORedChip CompaniesOffice: 1 800 RED CHIP (733 2447)Cell: US 407 491 4498 dave@redchip.com

  • GlobeNewswire

    Genetic Technologies Provides Update on its COVID-19 Disease Severity Risk Test and Expansion into Germline Testing

    MELBOURNE, Australia, Jan. 21, 2021 (GLOBE NEWSWIRE) -- Molecular diagnostics company Genetic Technologies Limited (ASX: GTG; NASDAQ: GENE, “Company”), provides the following update to the market on further development on the COVID-19 serious disease risk Polygenic Risk Score Test (COVID-19 PRS Test) and expansion of the Company’s offering to include Germline Testing division. Key Highlights Total COVID-19 positive patient data analyzed exceeds 5,500 following inclusion of further 4,000 patients’ data º Predictive capabilities improved 100% over age and sex alone1 º Analysis confirms that the test is well calibrated2 º Further datasets will continue to enhance the accuracy and consistency of the algorithmAnticipate submission for regulatory clearance via Centers for Medicare and Medicaid Services/Clinical Laboratory Improvement Amendments (CMS/CLIA) by the end of Q1 CY21 following final validation process of expanded datasetIn active conversations on commercialization opportunities in conjunction with CLIA regulatory submission and clearanceAdditionally, as previously announced, the Company has commenced with equipment calibration along with specialized inhouse training of the scientific team to establish the Germline Testing division for hereditary cancer risk with initial focus on: º BRCA testing to be offered in conjunction with GeneType for Breast Cancer, and º Lynch Syndrome testing to be offered in conjunction with GeneType for Colorectal Cancer COVID-19 PRS Test Product AdvancementsLeveraging Genetic Technologies’ core expertise in predictive risk modelling, the Company utilized the initial dataset of 1,500 patients known to have a positive COVID-19 diagnosis from the UK biobank to develop a comprehensive predictive model to identify those patients most likely to require hospitalization should they become infected with the COVID-19 virus. The UK biobank released a further dataset on COVID-19 positive patients consisting of ~4,000 confirmed COVID-19 infected patients in November 2020. Following further assessment the Company utilized this data to further update and validate the COVID-19 PRS Test. This has resulted in enhanced validation of the predictive capabilities of over 100%3 than disease risk severity based on age and gender alone and the test has been confirmed to be well calibrated4. Further datasets are expected to be made available over the coming months and will be included in the platform to continue to enhance the predictive capabilities of the algorithm but will not impact on the current regulatory submission to CMS/CLIA by the end of Q1 CY21. These datasets will also enable further cross-validation and scientific publications based on the increased data and anticipated expansion of age assessment capabilities. Laboratory Implementation Laboratory reagents for performing the test commercially have been designed and are currently being validated in preparation for regulatory submission to CMS/CLIA with a view to targeting sales in the USA initially. The test is being validated as a multi-platform test, including as a Next Generation Sequencing Test, Mass array test with further platforms in development, to mitigate supply chain risk associated with the required reagents allowing for a de-risked commercialization pathway. This is also expected to provide greater flexibility for potential distribution partners. The laboratory reagents are being independently cross validated at the Australian Genome Research facility (AGRF). Planned CommercializationFirst-stage commercial distribution is intended to focus on engagement with key distributors in the US. The COVID-19 test was originally conceived as a personal and population-based risk management tool. Additional applications, now evident, may enable the ability to provide a test to assist in the prioritization of who will receive the vaccine first given the supply constraints and time for widespread access and a risk assessment tool for individuals given the rapid introduction of vaccines. The Company also anticipates that the knowledge gained may provide valuable insight for the development of a broadly applicable infectious-disease susceptibility model in the future. Germline Testing DivisionExpanding the scope of the GeneType Tests As previously outlined, Genetic Technologies established the Germline Testing division following the strategic decision to offer hereditary testing for inherited cancer. The initial product focus for the division will be on BRCA testing to align with the Company’s GeneType for Breast Cancer product and Lynch Syndrome testing to align with the Company’s GeneType for Colorectal Cancer. This approach provides several strategic benefits, being the ability to identify cancer risk across the whole spectrum of cancer causation, from hereditary cancers caused by monogenic mutations to sporadic cancers with a polygenic, multifactorial cause. Further announcements regarding the progression within the hereditary cancer testing will be provided as the Company progresses with the development and validation process. Genetic Technologies Limited aims to provide a comprehensive risk assessment service across the full spectrum from sporadic to inherited disease. Quarterly Results Release Date and Webinar Genetic Technologies Ltd plans to release its quarterly results and activities report for the period ending December 31, 2020, on Thursday, January 28, 2021. The Company will provide an update on further advancements to its diagnostic tests and hold an investor webinar to discuss the quarterly update, on Thursday, January 28, 2021 at 11:30 AEDT. To participate on the quarterly investor webinar, please register at: https://us02web.zoom.us/webinar/register/WN_gy5DGFNMSKiAYfYeV0Ygpg Investor Relations (AUS)Investor Relations and Media (US) Stephanie OttensDave GentryMarket Eye1 800 RED CHIP (733 2447)M: +61 434 405 400Cell: 407 491 4498E: stephanie.ottens@marketeye.com.auE: dave@redchip.com About Genetic Technologies Limited Genetic Technologies Limited (ASX: GTG; Nasdaq: GENE) is a diversified molecular diagnostics company. GTG offers cancer predictive testing and assessment tools to help physicians proactively manage patient health. The Company’s lead products GeneType for Breast Cancer for non-hereditary breast cancer and GeneType for Colorectal Cancer are clinically validated risk assessment tests and are first in class. Genetic Technologies is developing a pipeline of risk assessment products. For more information, please visit www.gtglabs.com Cautionary Note Regarding Forward-Looking StatementsCertain statements in this press release constitute "forward-looking statements," within the meaning of federal securities laws, including statements related to the Company's anticipated use of proceeds and plans and prospects and other statements containing the words "anticipate," "intend," "may," "plan," "predict," "will," "would," "could," "should," and similar expressions, constitute forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of various factors. Factors that could cause future results to materially differ from the recent results or those projected in forward-looking statements include the known risks, uncertainties and other factors described in the Company's prior filings and from time to time in the Company's subsequent filings with the Securities and Exchange Commission. Any change in such factors, risks and uncertainties may cause the actual results, events and performance to differ materially from those referred to in such statements. All information in this press release is as of the date of the release and the Company does not undertake any duty to update this information, including any forward-looking statements, unless required by law. SOURCE: Genetic Technologies Limited _______________________________________1 Predictive accuracy of the test as assessed by analysis of the Area Under the Receiver Operating Characteristic Curve2 Calibration assessed using Pearson-Windmeijer goodness-of-fit test3 Predictive accuracy of the test as assessed by analysis of the Area Under the Receiver Operating Characteristic Curve4 Calibration assessed using Pearson-Windmeijer goodness-of-fit test

  • Genetic Technologies Secures US and ANZ Distribution Rights for PREDICTIX
    GlobeNewswire

    Genetic Technologies Secures US and ANZ Distribution Rights for PREDICTIX

    MELBOURNE, Australia, Dec. 02, 2020 (GLOBE NEWSWIRE) -- Molecular diagnostics company Genetic Technologies Ltd (ASX: GTG; NASDAQ: GENE, the ‘Company’), announced today that they have entered into a three-year partnership agreement with mental health company, Taliaz, for the distribution rights of their PREDICTIX products in Australia, New Zealand and the USA (“Agreement”). Key Highlights * Expands GTG’s product offering and establishes the mental health vertical through distribution partnership agreement harnessing PREDICTIX, Taliaz’s CE-registered, genomic-based, AI driven antidepressant selection technology that can improve today’s antidepressant prescribing accuracy by 47%4 * Potential to address the growing economic burden associated with diagnosing and treating depressive disorders in Australia, New Zealand and the USA * Continues GTG’s progress towards offering a highly comprehensive suite of polygenic risk assessment tests and represents GTGs first foray into pharmacogenomics* * Under the terms of the binding agreement, Taliaz will grant GTG:   °  Exclusive distribution to their PREDICTIX products within Australia and New Zealand for a period of three years   °  Non-exclusive distribution rights within the United States for a period of three yearsThe Agreement will support GTG to expand its product offering and establish the mental health vertical by harnessing PREDICTIX, Taliaz’s pioneering decision-support and management platform to optimize patient treatment for mental health disorders. Starting in the field of depression, this genomic-based, Artificial Intelligence (AI) driven antidepressant selection technology, marks GTG’s first foray into pharmacogenomics1.George Muchnicki, GTG’s Interim CEO stated: ‘We are incredibly pleased to have partnered with Taliaz to bring their predictive and personalized mental health product to Australia and New Zealand. GTG are at the forefront of providing personalized and predictive products to empower patients to make informed decisions about their health. This distribution agreement is our first external product partnership and our first product within the mental health vertical. Mental health has remained at the forefront of media discussions and government initiatives within Australia, New Zealand and globally due to the ongoing social and economic impact and given the impact from the current global pandemic. We look forward to working closely with the Taliaz team to deliver their product into these markets at this critical time.”The execution of the Agreement is reliant on product regulatory clearance by the Therapeutic Goods Administration (TGA) in Australia and Food and Drug Administration (FDA) in the USA. Once cleared, GTG has committed to providing a minimum distribution of 8,000 tests over the initial three-year term with an associated minimum cost to GTG of $200,000 over the term, inclusive of licencing fees and a percentage based fee per test paid to Taliaz. Subject to the regulatory clearance process, GTG anticipates that PREDICTIX will be made available for sale and distribution in Australia and New Zealand in Q3 FY21 on GTG’s existing Consumer Initiated Testing (CIT) platform, with end-customer pricing to be determined but anticipated to be in line with existing GTG product pricing.PREDICTIX, developed by the private Israeli company, Taliaz, addresses the growing burden on society from depression, with 1 in 10 Americans2 and 1 in 8 Australians3 prescribed antidepressants per year. PREDICTIX enables a more accurate and rapid treatment plan for patients suffering from depression, reducing treatment costs and the overall associated economic burden.PREDICTIX is an algorithmic-based decision support tool that can improve today’s antidepressant prescribing accuracy by 47%4. Combining DNA testing with AI, PREDICTIX empowers doctors to improve the assessment, treatment, and management of mental health disorders.The PREDICTIX technology uses AI to analyse multiple data streams, including patients’ genomic, clinical history and demographic background, providing doctors with a personalized patient report. The report ranks the statistical efficacy and potential side effects of various antidepressant medication based on each patient’s genetic makeup and health record. This helps doctors optimize prescribing decisions for patients diagnosed with depressive disorder, where there is currently a long and painful trial and error period. PREDICTIX is CE-registered and commercially available in the UK, France and Israel, with the process underway for TGA approval. Dekel Taliaz, CEO and Co-founder of Taliaz said, “We are excited to partner with Genetic Technologies, world-leaders in the genetic risk assessment space. This new partnership will support rapid commercialization of PREDICTIX to help more depression sufferers in Australia, New Zealand and the USA, while adding a complementary and advanced mental health solution to GTG’s growing suite of DNA tests.”The Agreement strengthens GTG’s mission in creating a suite of tests to enable a holistic and predictive health assessment for patients, which can be adjusted to address the individual patient risks and needs. Establishing the first product within the mental health and pharmacogenetic space continues GTG’s progress towards being able to offer a highly comprehensive suite of polygenic risk assessment tests via GTG’s CIT platform and additional sales and marketing avenues as these are progressed. This announcement was approved by the Board of Directors of Genetic Technologies Limited. Investor Relations (AUS)Investor Relations and Media (US)  Stephanie OttensDave Gentry Market Eye1 800 RED CHIP (733 2447)  M: +61 434 405 400Cell: 407 491 4498  E: stephanie.ottens@marketeye.com.auE: dave@redchip.com    Taliaz Contact  Marketing Manager  Viki Gronau  Taliaz  M: +972-54-258-7278  E: viki@taliazhealth.com  About Genetic Technologies LimitedGenetic Technologies Limited (ASX: GTG; Nasdaq: GENE) is a diversified molecular diagnostics company. GTG offers cancer predictive testing and assessment tools to help physicians proactively manage patient health. The Company’s lead products GeneType for Breast Cancer for non-hereditary breast cancer and GeneType for Colorectal Cancer are clinically validated risk assessment tests and are first in class. Genetic Technologies is developing a pipeline of risk assessment products.  For more information, please visit www.gtglabs.comAbout TaliazTaliaz is revolutionizing the treatment and management of mental health disorders with PREDICTIX. PREDICTIX is a CE-registered product that provides an advanced decision support software for psychiatrists and general practitioners. Harnessing artificial intelligence, PREDICTIX can enable easy, effective and rapid patient assessment, improved prescribing precision and management for a wide range of mental health conditions. Starting in the field of depression, the PREDICTIX Genetics and PREDICTIX Digital products can improve today’s prescribing accuracy by up to 47%4.For more information, please visit predictix.ai. 1. Pharmacogenomics is the study of how genes affect a person's response to drugs. This relatively new field combines pharmacology (the science of drugs) and genomics (the study of genes and their functions) to develop effective, safe medications and doses that will be tailored to a person's genetic makeup. 2. Source: https://www.health.harvard.edu/blog/astounding-increase-in-antidepressant-use-by-americans-201110203624 3. Source: https://www.psychwatchaustralia.com/post/1-in-8-over-3-million-australians-are-on-antidepressants-why-is-the-lucky-country-so-miserable:~:text=In%20the%202018%20financial%20year,SSRIs%20for%20depression%20or%20anxiety.&text=As%20shown%20in%20Table%201,antidepressant%2C%20in%202017%2D18. 4. Based on a retrospective analysis of STAR*D study medications versus current clinician treatment selection prescribing accuracy (Chekroud et al., 2016). STAR*D is one of the world’s largest prospective studies for optimal antidepressant administration.