Highlights― Record quarterly revenue of $1.8m, a ~71% increase on pcp― EasyScreenTM SARS-CoV-2 Detection Kit launched and regulatory approvalsreceived to allow marketing of the kit in Europe and Australia― Three new contracts with customers across the UK and Germany pendingsite initiation― Cash balance as at 31 March 2020 $39.2m and no debt― Indicative revenue for April 2020 of ~$1.7m
Genetic Signatures CEO, Dr. John Melki commented:“This year has been unique in our lifetimes with a pandemic that has proven devastating to the health of many around the world and caused significant disruption to the global economy and the lives of millions. Genetic Signatures finds itself in a position where its technology can offer a solution to governments looking for a way to identify large numbers of people with COVID-19 reliably and quickly. At the same time this is transformative for the Company as it has already provided access to new markets and will give Genetic Signatures increased income and a greatly expanded international profile.”
GSS Price at posting:
$1.90 Sentiment: Hold Disclosure: Held
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