GENE's pioneering initiatives in genomics-based tests place it at the forefront of precision medicine. Leading the world in risk prediction in oncology, cardiovascular, and metabolic diseases,
Key highlights:
- Cash Receipts totalling
A$3.6m for the Quarter endingDecember 2023 - Receipts from customers
A$1.85m - R&D Tax Incentive of
A$1.75 million received.
- Receipts from customers
- Appointment of 2 experienced commercial advisors to accelerate our Direct to Consumer (‘DTC’) plans for Genetype in the
U.S. , capitalising on the burgeoning consumer personalised health and wellness sector. - Record number of geneType tests processed, with six times more commercial samples received compared to the prior corresponding period.
- Launched Hereditary Breast & Ovarian Cancer Risk Assessment Test (HBOC) via an exclusive
Santa Monica event for a select group of clinicians. - Commenced Precision Medicine Pilot with the
Gold Coast Private Hospital , a member ofHealthscope . - Expanding Global Footprint South East Asia. Discussions continue with potential partners to access
Indonesia's healthcare market, with the geneType Multi-Risk test - Expanding Global Footprint
UK . InApril 2024 the Company’s branded tests are to be offered to subscribers of theUK National Pharmacies Association (NPA) via a targeted campaign. - Commenced Activities associated with CASSOWARY Trial. MRFF Grant named GTG as sole industry partner for the
$2.4 million clinical trial. Results will inform how cancer risk is assessed and has the potential to reshape care in General Practice.
Commenting on the Company’s quarterly performance, Chief Executive Officer
“In the past quarter, we achieved further significant milestones in the business starting with a record number of geneType test processed. Additionally, the team have successfully recruited many new healthcare professionals, setting up a strong base for increased adoption of our tests in our key markets,
“Locally our
“Finally I want to thank our shareholders for their support at the 2023 Annual General meeting on the share consolidation and enhancing our ability to raise capital and pursue future growth opportunities”.
Operational Highlights
GeneType Tests
A record number of geneType tests were processed during the quarter, with a sixfold increase in commercial samples received in comparison to the prior quarter. The geneType sales team is on-boarding new Health Care Professionals (HCPs) on a weekly basis, providing a solid foundation for ongoing growth in adoption of geneType in the
Launch of Comprehensive Hereditary Breast & Ovarian Cancer Risk Assessment Test
In November, the geneType Comprehensive HBOC test was launched to a selected group of clinicians at an exclusive launch event in
Exploring New Markets
Engagement continues with potential partners in the rapidly growing Indonesian healthcare market. Government spending in Indonesia’s healthcare sector is expected grow to
Launch of the Company’s branded tests, EasyDNA, Affinity DNA, and geneType, via a targeted campaign with
The partnership with the
The partnership was initiated with a 50-patient pilot study to establish workflow and patient reporting, utilising geneType multi-risk test combined with PGx tests, provide a comprehensive wellness profile for GCPH patients. Positive outcomes from the study will enable the rollout of additional
MRFF Grant
During the quarter, activities connected with the CASSOWARY Trial, a randomised controlled trial of the clinical utility and cost-effectiveness of a multi-cancer polygenic risk score in general practice, commenced. GTG were named as sole industry partner for a Medical Research Future Fund (MRFF) Genomics Health Futures Mission Grant supporting the trial. Results from the trial are expected to change the way risk is assessed and reshape the standard of care in general practice for serious disease. The trial results will inform future policy including the 5-year goal for the Australian Cancer Plan to use genomics for risk-stratified cancer screening. Six hundred patients from eight general practices across
Enquiries
Investor Relations
Automic Markets
M: +61 438 630 411
E: Adrian.mulcahy@automicgroup.com.au
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