MELBOURNE, Australia, Nov. 15, 2011 /PRNewswire/ -- Australian based brokerage firm Lodge Group has released a positive research note on NASDAQ and ASX listed Genetic Technologies Limited (NASDAQ: GENE, ASX: GTG) following an update with management on the roll-out of its lead molecular diagnostic cancer test in the US.
According to Lodge, the Company's lead product BREVAGen™, a predictive risk assessment tool for assessing women's risk of developing breast cancer, is demonstrating early success within its sales cycle in the US.
Importantly, the key drivers underpinning the future success of BREVAGen as a standard tool in assessing women's risk of developing breast cancer are being met.
Lodge believes Genetic Technologies has US management in place capable of delivering on the Company's molecular diagnostics strategy in North America, as well as scaling the normal learning curve associated with any new product launch.
Lodge noted key success factors in the BREVAGen roll-out include: implementation in six of the eight initial launch territories with plans for expansion, overall product receptiveness by target audience (obstetricians and gynecologists), and utilization of BREVAGen test results to gain insurance reimbursement for MRI breast exams.
Lodge Partners predicts increased market opportunity and acceptance for BREVAGen in their US Management Research Update report (available upon request) and has a 12 Month Price Target of AUD0.57 with an implied return of 320%.
About Genetic Technologies, Limited
Genetic Technologies was an early pioneer in recognizing important new applications for "non-coding" DNA (Deoxyribonucleic Acid). The Company has since been granted patents in 24 countries around the world, securing intellectual property rights for particular uses of non-coding DNA in genetic analysis and gene mapping across all genes in all species. Its business strategy is the global commercialization of its patents through an active out-licensing program and the global expansion of its oncology and cancer management diagnostics portfolio. Genetic Technologies is an ASX and NASDAQ listed company with operations in the USA and Australia. For more information, please visit http://www.gtglabs.com.
About Phenogen Sciences, Inc.
Phenogen Sciences, Inc., the U.S. division of Australia-based Genetic Technologies Limited, is a pioneer in personalized healthcare. Phenogen provides physicians and patients with personalized medical information, risk assessments and insights for patient-specific health management in the areas of oncology and women's health. Phenogen's lead product, BREVAGen™ is the first predictive test that combines clinical information and genetic factors to categorize a woman's personal risk for developing breast cancer. For more information, visit http://www.phenogensciences.com.
About Lodge Group
Headquartered in Melbourne, Australia, Lodge Group is a specialist institutional equities brokerage firm providing research, dealing and corporate finance services to wholesale investors (institutional and sophisticated) and corporate clients in Australia and internationally. Established in 1994, Lodge is recognized as one of Australia's pre-eminent equities firms specializing in small to mid capitalization companies in the healthcare sector. For more information, visit: http://www.lodgepartners.com.au.
SOURCE Lodge Group