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Genetic Technologies ( (AU:GTG) ) has shared an announcement.
Genetic Technologies Limited has sold its direct-to-consumer DNA testing businesses, AffinityDNA and EasyDNA, to Endeavor DNA, Inc. The transaction, completed on January 18, 2025, includes a cash purchase price of approximately $525,000 and the transfer of intellectual property, certain agreements, and employees to Endeavor. This sale is part of a broader effort to manage the company’s financial challenges, as indicated by the appointment of administrators and the ongoing evaluation of future options, which may include liquidation or a company arrangement.
More about Genetic Technologies
Genetic Technologies Limited operates in the genetic testing industry, focusing on direct-to-consumer DNA testing services through its AffinityDNA and EasyDNA businesses. The company has been undergoing administrative proceedings with a focus on selling its businesses to streamline operations.
Average Trading Volume: 100
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $5.85M
For an in-depth examination of GTG stock, go to TipRanks’ Stock Analysis page.
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