BREVAGen Breast Cancer Tests cause the sales of Genetic Technologies Jump Up.

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By Daniel Craine on July 9, 2014 BioPharma

On July 7, 2014, Genetic Technologies Limited (GENE) announced that there has been a significant increase in the sales of its tests. According to the company, the sales for this quarter have increased by 37 percent. Not that the main sales of Genetic Technologies Limited concern the BREVAGen breast cancer test samples.

The company saw a huge decline in its sales during the first quarter of the year. Sources have it that the main reasons for this decline were the winter season and the release of ObamaCare in the market: where the cold winters kept patients from seeing their doctors for the regular periodic checkups, the release of ObamaCare made a lot of people uncertain about the breast cancer testing expenses, thus keeping them from BREVAGen testing.

This corporation is an Australia-based company that tests DNA samples and provides genetic testing service. According to the statements released by the company on July 7, 2014, the company had received approximately 1,096 samples for breast cancer tests during its second quarter of the year: April to June. The company has seen an increase of 37 percent in the sales of its BREVAGen breast cancer tests, thus successfully meeting the last year’s figures.

Not only was June the end of the second quarter of 2014 but it was also the end of the company’s fiscal year 2014. According to the reports and charts, the company, during its fiscal year 2014, received a total of 3,935 testing samples; these figures were far greater than the numbers that were calculated at the end of fiscal year 2013: 1,547 samples. Genetic Technologies (GENE) introduced BREVAGen tests in 2012. Since then, there has been quite an increase in the usage of this test. Currently, this test is available in all 50 States of US, and it will not be incorrect to claim that the market size of the test has increased considerably.

Furthermore, the company is confident about the launch of its BREVAGen test next generation. This new test will spot breast cancer risks more accurately. Rumors have it that the test will be introduced in the market by the end of the year 2014. What’s new about this latest test is that it will be validated for African American and Hispanic Populations as well.

As far as the testing procedure goes, the samples are taken from the cheek saliva. These samples are then sent to Genetic Technologies to test the person’s DNA and analyze whether there is a chance of her developing breast cancer during her lifetime. The tests also tell whether the person is safe for the next 5 years or not by predicting the risk of her developing this disease over the next 5 years.

On the last trading day, the company opened its stocks at the price of $1.15 and closed at the price of $1.14, with the highest price hitting the figures of $1.31 whereas the lowest one touching the numbers of $1.11. The total market capitalization of the company was recorded to be $18.07 million whereas the beta of the company was 0.81.