Genetic Technologies Limited (ADR) (NASDAQ:GENE) shares are up 13.97% to $3.10 in pre-market trading this morning, after the company released a very bullish announcement.
Genetic Technologies Limited (ADR) (NASDAQ:GENE) previously acquired BREVAGen, which is a proprietary breast cancer risk assessment test. Today though, comes news that the company has had an independent study published supporting the intuitive test in Causasian women. The results were actually published last week on December 16, in a paper titled “Breast Cancer Risk Prediction Based on Clinical Models and 77 Independent Risk-associated SNPs in Women Aged Under 50 Years“. However, the press release announcing its publication appears to be what is fueling the stocks bullish move this morning.
The stock closed at $2.72 during the last trading session. It is down 34.77% since May 18, 2015 and is downtrending. It has underperformed the S&P500 by 32.51%.
Genetic Technologies Limited is a molecular diagnostics company. The company has a market cap of $30.74 million. The Firm offers predictive testing and assessment tools to help physicians manage women’s health. It currently has negative earnings. The Company’s lead product, BREVAGenplus, is a clinically validated risk assessment test for non-hereditary breast cancer.