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Genetic Technologies ( (AU:GTG) ) just unveiled an update.
Genetic Technologies Limited has entered voluntary administration after failing to secure necessary capital and strategic partnerships, despite efforts to restructure and focus on US sales growth. The company has sold its geneType business to Rhythm Biosciences Limited for $625,000, a move that includes the transfer of intellectual property, assets, and employees, while administrators continue to explore options for the company’s future.
More about Genetic Technologies
Genetic Technologies Limited operates in the biotechnology industry, focusing on genetic testing and diagnostics. The company is known for its geneType product line, which provides genetic risk assessment tools, primarily targeting the US market.
Technical Sentiment Signal: Sell
Current Market Cap: A$5.67M
Learn more about GTG stock on TipRanks’ Stock Analysis page.