Genetic Technologies (AU:GTG) has released an update.
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Genetic Technologies Limited has reported a successful quarter with A$2.27m in cash receipts, a 500% sales increase in the U.S. due to a digital campaign, and the launch of a comprehensive cancer risk test. The company is transitioning to a capital-light business model emphasizing direct-to-consumer (DTC) sales and U.S. market growth, backed by a patent portfolio for serious disease risk assessment. Additionally, the company is undertaking a 2 for 3 rights issue to strengthen its capital structure and support its strategic focus on geneType and EasyDNA products.
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