Genetic Technologies Reports Quarterly Financials

Genetic Technologies (NASDAQ:GENE) provided a quarterly activity report to shareholders.

As quoted in the press release:

“I’m particularly pleased with the progress achieved across the commercial and product development fronts. Our product repositioning and conversion to a direct self-pay program for BREVAGenplus has already produced results in terms of setting the stage for wider market adoption, and our development program for a colorectal risk assessment test and the new research initiative with The Ohio State University speak to our continued conviction to enhance our pipeline of SNP-based cancer risk assessment products,” commented Eutillio Buccilli, Executive Director and Chief Executive Officer of Genetic Technologies.

Commercial and Financial Snapshot

Test samples received for the quarter were 265, including 140 tests issued to the Ohio State University (as part of the investigator initiated research Agreement), compared to 162 in the previous quarter (Q3 FY17). For the full year 2017, 1,035 test samples were received compared with the previous corresponding period (PCP) of 1,184 tests, representing a year on year decrease of 12.6%.

Click here to read the full press release.

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