NEW YORK (TheStreet) -- Shares of Genetic Technologies Limited (GENE) - Get Report surged 27.66% to $5.40 in late morning trading Monday after the molecular diagnostics company announced that two new breast health centers will start to offer BREVAGenplus®.
These two centers join the six breast health centers that Genetic Technologies previously announced were set to offer BREVAGenplus, a scientifically validated risk test for sporadic breast cancer. All six of these centers have given samples during the March 2015 quarter, the company said in a statement.
Genetic Technologies said it expects more breast health centers to adopt BREVAGenplus in 2015 and reiterates its expectations for accelerated sales growth in the second half of 2015 and beyond.
"This significantly changes the landscape; the paradigm shifts from detection and intervention to risk assessment, prevention and even earlier detection," said Genetic Technologies CEO Eutillio Buccilli in a statement.
Insight from TheStreet's Research Team
James "Rev Shark" Deporre comments on Genetic Technologies in a recent post on Real Money. Here is what Deporre had to say about the stock:
The biotechnology theme is still alive, but it is narrowing and becoming harder to play. Names like Lion Biotechnologies (LBIO) , Genetic Technologies, Juno Therapeutics (JUNO) and Trillium Therapeutics (TRIL) - Get Report are active but others like Biogen (BIIB) - Get Report and Celgene (CELG) - Get Report are weaker again.
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