Skip to main content
Premium Trial:

Request an Annual Quote

Genetic Technologies to Raise A$5M in Direct Stock Offering

NEW YORK – Genomic testing firm Genetic Technologies said Friday that it had entered into definitive agreements with several investors for a registered direct stock offering that will raise A$5 million (US$3.5 million).

The investors agreed to buy 3,846,155 American Depositary Shares at A$1.30 per share. Each ADS represents 600 ordinary shares of the company. The offering is expected to close on Feb. 7, and H.C. Wainwright is acting as the exclusive placement agent.

The Australia-based firm said it plans to use some of the offering's proceeds to support its US and European commercialization of its GeneType Multi Risk test for cancers, coronary artery disease, and type 2 diabetes and to launch a comprehensive hereditary breast and ovarian cancer risk test. Other expenses funded by the offering include leveraging the firm's relationship with Qiagen to create new market opportunities, funding research and development, increasing sales and marketing efforts focused on consumer-initiated testing, and providing working capital and money for general corporate uses.

The Scan

Harvard Team Report One-Time Base Editing Treatment for Motor Neuron Disease in Mice

A base-editing approach restored SMN levels and improved motor function in a mouse model of spinal muscular atrophy, a new Science paper reports.

International Team Examines History of North American Horses

Genetic and other analyses presented in Science find that horses spread to the northern Rockies and Great Plains by the first half of the 17th century.

New Study Examines Genetic Dominance Within UK Biobank

Researchers analyze instances of genetic dominance within UK Biobank data, as they report in Science.

Cell Signaling Pathway Identified as Metastasis Suppressor

A new study in Nature homes in on the STING pathway as a suppressor of metastasis in a mouse model of lung cancer.