Genetic Signatures Reports 71% Sales Increase and Secures First US Contract

The latest announcement is out from Genetic Signatures Ltd. ( (AU:GSS) ).

Genetic Signatures Ltd reported a significant 71% increase in quarterly sales, reaching $2.9 million, driven by high respiratory testing rates in Australia. The company signed its first US commercial contract for its EasyScreen™ Gastrointestinal Parasite Detection Kit and is implementing a new strategy for automated, high throughput solutions through the customization of commercially available instruments. With a strong cash balance of $37.4 million, Genetic Signatures is well-positioned to expand its market presence, particularly in the US, following FDA clearance. The company continues to focus on innovation in assay development, workflow enhancements, and software improvements to support its growth strategy.

More about Genetic Signatures Ltd.

Genetic Signatures Ltd is a company operating in the molecular diagnostics industry, focusing on the development of innovative solutions for the detection of infectious diseases. Their primary products include the EasyScreen™ Gastrointestinal Parasite Detection Kit, and they are actively expanding their market presence, particularly in the United States.

YTD Price Performance: -34.92%

Average Trading Volume: 125,534

Technical Sentiment Signal: Buy

Current Market Cap: A$93.13M

Learn more about GSS stock on TipRanks’ Stock Analysis page.